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Saxo Bank launches SaxoTrader for iPhone and Android

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Saxo Bank, the online trading and investment specialist, has launched a new market information and trading app for iPhone and Android. The new app is free to download and provides a wealth of free financial market content such as news, analysis, video blogs, commentary, research, financial calendar, quotes and charts on more than 13,000 instruments.

Users can also sign up for a free trial directly from the app and trade on the markets for 20 days using a simulated account. Existing clients of Saxo Bank can use the trading app section to view their account status, place or cancel orders and trade all Saxo Bank’s products.

The new app utilises the open source HTML5 technology and provides fast, easy and convenient access to the financial markets for anyone with an interest in them. It is equipped with cross platform capabilities and is optimised for fast and responsive finger touch trading.

The app. was first used when a professional B.A.S.E. jumper executed a FX trade whilst performing a jump in Hutchinson Peak in the Hottentot Hollands Mountain Range outside of Cape Town, South Africa. The B.A.S.E. jumper bought 1,000,000 EURUSD Spot at a price of 1.26969. The trade was confirmed when he was still in mid-air. A four minute documentary of the spectacular event is available here.

Saxo Bank will also provide the technology to its 100+ white label clients in order for them to roll-out their own versions of this mobile app to their respective client bases. The full implementation with all partners is expected to be complete in the course of Q2, 2012.

Henrik Dyrholm Holst, Head of Platform Development at Saxo Bank, says: "We recognise that it’s more important than ever to differentiate ourselves from the other players in the market. This solution enables Saxo Bank’s clients to freely choose a mobile device while safely knowing that Saxo Bank provides an app. that supports their choice of device.

"While the launch today targets iPhone® & Android, the use of HTML5 allows us to quickly add to the list of supported devices and puts Saxo Bank ahead of our competitors who are struggling to cope with the overheads and support tasks required to maintain more platform specific apps. A device specific strategy for investing is not appropriate in the highly volatile market conditions where mobile users routinely loose or gain double digit markets shares in a few quarters. Wanting to untie Saxo Bank’s clients from making specific device buying decisions, Saxo Bank has chosen a platform independent strategy that enables us to let the clients chose the device they are most comfortable with when they trade anytime, anywhere."
 

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