Saxo Bank Reduces Minimum Deposit Threshold to Access MT4 Offering

Saxo Bank Reduces Minimum Deposit Threshold to Access MT4 Offering

The company also said that users could have prime brokerage access to feeds from tier 1 banks and non-banks.

Saxo Bank, a leading online trading services provider, announced on Thursday that it automated its MetaTrader 4 (MT4) 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 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. Also, Damian Hitchen, a former Regional Manager at HSBC, was appointed as the companys 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 Banks growth in the region, the company noted.