Saxo Capital Markets boosts CFD offering
Multi-asset online trading platform, Saxo Capital Markets, has strengthened its contracts for difference (CFD) offering by reducing its intraday margin requirements in some of its CFD index trackers, while it has also introduce a new spread offering which would reduce trading costs by up to 30 per cent.
The change would allow traders to have greater flexibility during trading hours when liquidity was its strongest, while traders could still maintain their margins at prudent levels.
Initially, the reduced intraday margins would apply to CFD index trackers in the main stock indices in Europe and the United States. Those included the US 500, EU 50, Germany 30, UK 100, France 40, Spain 35, Swiss 20 and Australia's Aus 200.
The firm's new intraday margin solutions, which accounted for half of the normal margin requirements, would be applied during market trading hours and phased out when underlying cash markets were about to close, it said.
Saxo Capital Markets also introduced ‘fixed' spreads on CFD index trackers, which would allow traders to experience reduced trading costs by up to 30 per cent.
‘Fixed' spreads would also only be available during main trading hours and on normal market conditions.
Saxo Capital Markets Australia chief executive, Ben Smoker, said: "Saxo's margin enhancements will provide Australian traders with an improved trading experience and a higher degree of certainty with trading costs in entering and closing CFD index tracker positions".
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