HELLERUP, Denmark, June 6, 2011 /PRNewswire/ --
Saxo Bank, the online trading and investment specialist, today announced the launch of ForexTrading.com which will offer retail investors a select range of FX crosses and CFDs with variable spreads - as low as 0.8 pips. ForexTrading.com provides investors with a range of basic functionalities designed to make trading flexible and straightforward.
ForexTrading.com is powered by Saxo Bank, which is renowned for aggregating liquidity from the world's leading FX dealers. ForexTrading.com gives traders the ability to trade in the world's most liquid currency pairs and global commodity CFDs at very competitive spreads.
Claus Nielsen, Head of Markets at Saxo Bank, said:
"Saxo Bank will continue to cater for high-net-worth and institutional traders who increasingly demand usability, mobility, performance, and service when executing online trades and orders. At the same time, ForexTrading.com will appeal to Forex and CFD traders who are price sensitive and do not require a personal service, but still want the ability to utilise an award-winning online trading platform.
"We believe the retail foreign exchange market will maintain its growth trajectory for the next 10 to 15 years and we want to cater for high-net-worth investors as well as high-frequency traders to who tight spreads and deep liquidity are essential. There is no additional commission on ForexTrading.com and we see ForexTrading.com as bringing new competition to the smaller competitors, outside the tier-one banks, in the market focused on foreign exchange."
The minimum initial deposit when opening an account with ForexTrading.com is $2,000 or equivalent and no interest will be paid on funds on deposit. ForexTrading.com will only offer English support and service and ForexTrading.com only supports retail trading accounts.
For more information: http://www.forextrading.com
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist with a worldwide client base. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2010 Saxo Bank continued the diversification of its business with acquisitions of Saxo-ETrade Bank, specialist in online investment, and Brorup Sparekasse, a Danish savings bank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia.
Media enquiries: Claus Nielsen Head of Markets Phone +4539774027 Kasper Elbjorn Head of Group PR Phone +4539774300 Press@saxobank.com
SOURCE Saxo Bank