Saxo Bank Reduces Minimum Deposit Threshold to Access MT4 Offering

Saxo Bank, a leading online trading services provider, announced on Thursday that it automated its MetaTrader 4 (MT4) MetaTrader 4 (MT4) MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists Read this Term) onboarding processes and had reduced the minimum deposit threshold. According to the press release shared with Finance Magnates, the minimum deposit is now GBP 3,000, which is down compared to the previous GBP 15,000 requirement to join the platform.

Users of the platform could use a single account to trade multiple assets in Saxo using either the provider’s own pricing or a prime brokerage setup with direct market access to over 25 leading Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers. ”Offering smoother access to MT4 at a much lower cost is another example of how we are empowering our clients with broader access to global capital markets and best-in-class institutional-grade execution. We pride ourselves on delivering our clients a truly differentiated trading experience, through a single account clients not only get access to MT4 but multiple assets and currencies as well as 25 years’ experience in managing global liquidity and execution,” Peter Plester, Head of FX Prime Brokerage at Saxo Bank, commented.

Moreover, Saxo Bank stated that customers could access the ‘Account Shield’ feature, which allows them to protect their account value by setting a tolerance ratio when using automated trading.

Saxo Bank Recent Executive Moves

Recently, the online trading services provider announced a series of executive moves. Lasse Lilholt, former Head of PR Nordic and Deputy Head of Global Communications at Saxo Bank, was promoted to Global Head of Communications. Furthermore, Damian Hitchen, a former Regional Manager at HSBC, was appointed as the company’s new CEO of the MENA region.

The newly appointed CEO of the MENA region will report directly to the company’s Chief Sales Officer, Stig Christensen. Hitchen will be based at Saxo Bank’s regional office in Dubai. He will facilitate Saxo Bank’s growth in the region, the company noted.