Saxo Bank has recently announced that its digital investing branch, Saxo Markets, is set to launch a new crypto trading service that covers three cryptocurrencies: Ethereum, Bitcoin, and Litecoin. With Saxo’s new Crypto FX, traders will be able to trade crypto as well as other assets from one single margin account, losing the requirement of maintaining a crypto wallet.
Stanislav Kostyukhin, Saxo Bank’s commercial owner of trader sentiment, said:
Stanislav Kostyukhin
Source: LinkedIn
Saxo Bank has developed a unique proposition which gives our clients access to the growing crypto space in a flexible, secure, and hassle-free manner from a single fully-licensed account without the need to use wallets or cold storage solutions.
Within the announcement, Saxo stated that it would offer its new crypto trading product against each the euro, Japanese yen, and US dollar. Saxo is set to offer these digital currencies as derivatives, also allowing traders to take advantage of trading via both short and long positions. While accredited investors are set to be able to trade with a maximum leverage of 3:1, it was stated in the announcement that Saxo’s retail clients will now have the ability to trade with a leverage of 2:1.
