Saxo Capital Markets Australia has launched its new active trading platform that will let users trade over 35,000 financial instruments at no monthly fees and without expensive legacy hardware.
The product is aimed at professional traders and smaller institutional investors, according to Saxo Capital Markets Australia chief executive Ben Smoker.
"With SaxoTraderPRO, we are aiming to provide professional traders and institutional investors at the small and medium-sized funds segment with a higher level of platform tools and functionality, which allows them to operate with similar capabilities to what large institutions have," Smoker said.
SaxoTraderPRO allows trading of stocks, bonds, ETFs CFDs, futures, options, forex and other asset classes on compatible multi-screen Windows and Mac computers.
Traders will be charged on the volume of securities that they trade, with prices getting more attractive as the activity increases.
The platform lets them customise their workscreens with drag and drop modules, column adjustments and zoom functions.
New advanced trading tools on the platform will let users trade with algorithm orders, close all positions and cancel all orders and choose between "real time netting" and "end of day netting" for individual trades.
"We have placed our clients at the centre of the development process with constant feedback, early prototyping and A/B testing with in-lab usability studies. A lot of unique features have been developed based on specific feedback from our beta users, such as the margin break down module to help our clients manage their risk," Saxo's head of platforms Christian Hammer said.
SaxoTraderPRO will replace the current SaxoTrader platform. Earlier this month, it was rolled out in the UK, Denmark, Hong Kong and Singapore.
Saxo now has three trading platform offerings: SaxoTraderGO: for entry-level investors with less leveraged instruments and lower limits of leverage; SaxoTraderGO: full platform for experienced traders; and SaxoTraderPRO for professional and institutional investors.
Saxo Capital Markets Australia is a wholly-owned subsidiary of Denmark-based Saxo Bank which specialises in multi-asset trading, investment and banking-as-a-service solutions for wholesale clients.