The Danish broker, Saxo Bank announced on Monday that it has added nine crypto-forex pairs to its TradingView offering, thus enabling its clients to trade from the third-party social trading platform.
The new TradingView integration will allow the trading of Bitcoin, Ethereum and Litecoin, each against the euro, US dollar and Japanese yen.
Saxo first started to offer crypto trading last May, but the services are limited to its clients in Singapore and Australia. As the broker offers trading with cryptocurrency derivatives, its clients can trade crypto from their usual trading account and do not need to maintain any crypto wallet.
With the bullish rally in the cryptocurrency market, demand for Saxos crypto products boomed. Last month, the broker revealed that it had generated $2.5 billion in turnover from cryptocurrency derivatives since the launch.
Additionally, demand prompted Saxo to increase crypto position limits: it was raised from $50,000 to $200,000 for retail investors while from $200,000 to $500,000 for professional clients.
TradingView Integration
Saxo‘s extension of TradingView integration came after years of the broker’s partnership with a third-party platform.
“The broadening of Saxos crypto offering follows the addition of 520 stock tickers in October consisting of some of the most traded companies from major stock exchanges in Europe and Asia, as well as a range of stocks and single-stock CFDs on U.S. exchanges which have been available since July,” Saxo noted.
“Made possible through greater collaboration between developer teams, Saxo clients are now able to trade both FX and a range of over 3,500 individual stocks and single-stock CFDs through TradingView, which includes getting full access to TradingViews powerful charting tools at a competitive price. Clients can trade Crypto FX pairs during FX trading hours from Sunday evening to Friday evening with the ability to open both long and short positions.”
Leave a Reply