Saxo Bank has 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. The new service operates on a low cash-funding only basis and provides investors with a range of basic functionalities designed to make FX trading flexible and straightforward.
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, this new offering 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 online trading platform like SaxoTrader.” 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 offer an English support service and only supports retail trading accounts.