Sun, February 25, 2024

Saxo Enables 9 Crypto-FX Trading Pairs

With the cryptocurrency market's rise, Saxo's crypto offerings have increased in demand.

On Monday, Saxo Bank, a Danish broker, announced that it would add 9 crypto-forex pairings to its TradingView service, allowing its customers to trade from the third-party social trading platform.

The new TradingView connection will allow investors to trade Bitcoin, Ethereum, and Litecoin against the euro, USD, and Japanese yen.

Saxo first began offering crypto trading last May, but it is only available to clients in Singapore and Australia. As a result, broker clients don’t need to maintain any crypto wallet and may trade cryptocurrency derivatives from their normal trading account.

With the cryptocurrency market’s rise, Saxo’s crypto offerings have increased in demand. Since its inception, the firm has recorded $2.5 billion in turnover from cryptocurrency derivatives.

In addition, as a result of high demand, the firm boosted crypto position restrictions for both traders and investors: from $50Kto $200K for retail investors and from $200K to $500K for professional clients.

TradingView Integration

After years of collaborating with a third-party platform, Saxo’s integration of TradingView came from the broker’s collaboration.

In October, Saxo Bank expanded its cryptocurrency services with the addition of 520 stock tickers. This platform comprises businesses that are frequently traded on major stock exchanges in Europe and Asia. It also includes various stocks and single-stock CFDs on the U.S. exchanges that have been accessible since July.” Saxo noted.

Developer teams collaborated to enable Saxo clients to trade FX and over 3,500 distinct stocks and single-stock CFDs through TradingView. It includes full access to TradingView’s strong charting capabilities at a reasonable price. Clients can trade Crypto FX pairs from Sunday night till Friday evening,

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