Online multi-asset trading and investment specialist, Saxo Capital Markets, has launched the ‘Saxo Essential’ account, a price competitive solution for entry-level traders.
The Saxo Essential account would offer Australian investors full access to stocks and bonds as well as a group of global FX pairs, including AUD/USD, EUR/USD, USD/JPY and CFD index trackers.
The new account would incorporate additional risk management functionality and account reporting features, and both FX and CFD Index trackers would have a competitive price and low minimum funding.
Saxo Capital Markets Australia chief executive, Ben Smoker, said the account would suit investors who prefer a lower exposure to leverage.
“With our new account, losses on OTC leveraged products will not be able to exceed cash deposits. We’ve also imposed margin restrictions around certain exposure,” he said.
“These measures of responsible trading, we believe, are in the best interest of this client segment and will work to a great advantage for new entrants to the market.”
Saxo Essential, which launched in the UAE, Singapore and the U.K earlier this year, would be available to Australian investors from this week.