"We set out to create the most intuitive platform that works on all devices," Christian Hammer, CEO of Saxo Bank

In mid-2015, Saxo Bank announced the release of a new modern trading platform, written by its own technical experts, as well as the abandonment of the usual MetaTrader 4. In the press release the company presented SaxoTraderGO as the newest and the most convenient platform, which will be a serious competitor to all modern analogues. The editorial staff of ForTrader.org contacted Saxo Bank's representatives to clarify whether SaxoTraderGO is really as good as it says in the release.

Our questions were answered by Christian Hammer, Head of Platforms, CEO of Saxo Bank.

- Why did the management of Saxo Bank decided to develop its own platform and refused to use the familiar MetaTrader 4?

- We have created and launched SaxoTraderGO - the most advanced platform, well thought-out and focused on usability. We believe that SaxoTraderGO is as easy to use as any other platform in the retail segment, besides it provides our clients with unique opportunities to trade a wide range of assets.

We have already received amazing feedback about SaxoTraderGO and our clients have completely switched to this platform. A week after the official launch of SaxoTraderGO 35% private clients were already using Saxo. This early launch success prompted us to decide to stop using MT4 in Cyprus. Existing clients of Saxo Capital Markets CY Ltd. will be able to continue working with Saxo Bank via SaxoTraderGO platform.

- In your press release about SaxoTraderGO you write that the platform is much superior to existing analogues. What is the innovation in application and convenience for the modern trader?

- Saxo Bank was among the first to offer such seamless interaction between platforms across devices, as well as other features such as easy navigation and a clear distinction between pre-trade, trade and post-trade services.

We set ourselves the goal of creating the most intuitive platform that works on all devices, and I believe we succeeded.. When a client changes something in the charts or tracking list on one device, all changes are automatically propagated to the other devices when you log in. The application is optimized for a specific device without sacrificing functionality.

As an example, swipes on mobile devices or mouse clicks on desktop applications implemented on the same software infrastructure. Thus, the user is not lost when switching to a new device, everything performed on one device is immediately transferred to another. SaxoTraderGO remembers the settings no matter where the client works: in a web app, on a smartphone or a tablet.

- Will SaxoTraderGO be available only for Saxo Bank clients or will other companies also be able to use and offer it to clients?

- Later this year SaxoTraderGO will be available to our partners as part of the White Label program - these are other bank brokers who use Saxo technology to improve their own trading and investment offerings. They have expressed great interest in SaxoTraderGO and the possibility to get access to API.

SaxoTraderGO is developed based on the REST API, a flexible format that allows you to connect third-party offers and trading capabilities in a new and innovative context, such as through integration of the platform with your website and client bank.

This is an open APIAccordingly, parts of the software infrastructure can be made available to institutional customers or third-party developers to integrate additional features into the existing platform or to incorporate it into other digital ecosystems. Flexibility allows for more agile software to meet customer needs.

 

- Why did the developers of SaxoTraderGO pay so much attention to the operation of the terminal on multiple devices?

- Modern traders work primarily for results and therefore strive to cover as many asset classes and instruments as possible. Traders approach portfolio construction comprehensively, evaluating available markets and asset classes. At the same time, traders are much more mobile now, their requirements to a trading platform are much higher - they don't want to choose between speed, efficiency and functionality, switching from a desktop application to a mobile one.

Saxo Bank surveyed almost 3,000 traders during the analytical phase of the platform's development, we wanted to make sure that SaxoTraderGO fully meets their needs.

SaxoTraderGO works the same on all devices and its functionality provides a seamless transition between mobile and desktop application - this is a unique feature of Saxo Bank platform, very important for traders. SaxoTraderGO is expected to significantly improve our services for mobile devices and tablets and become one of the most understandable and user-friendly products in the industry.

 

- Is automatic trading on the platform possible? Is the prescribed programming language similar to MQL, or do you suggest a different basis?

- SaxoTraderGO does not currently support automated trading. However, clients and third-party developers can access the REST API as well as the full range of pre-trade, trade and post-trade services. It should also be noted that our social network www.tradingfloor.com was also developed based on OpenAPI. Thus, the vastness and depth of functionality available through OpenAPI meets modern requirements.

There are more than 150 endpoints supporting all types of orders in the currency and stock markets, futures, options, CFDs, ETFs, binary options and so on. For obvious reasons, there are some limitations related to data management. We plan to make the Open API available to third-party developers by the end of the year.

 

- How great is the variety of additional tools presented in the terminal (indicators, scripts, advisors)?

- In the graphic system there are many technical indicators and intuitive order placement system. However, SaxoTraderGO does not support automated trading, so you can't implement other scripts or Expert Advisors in it.