Saxo Bank improves its FX offering

Danish broker and investment specialist Saxo Bank has announced that it has made a number of improvements to Forex offering. These improvements are meant ‘to better accommodate the needs of its global client base’ and as you would expect these improvements are focused at those in emerging markets or regions where there is plenty of growth for the FX industry. 

The major addition to Saxo’s FX offering is the introduction of two new currency crosess or pairings, with the brokerage adding both the EUR/HRK and the USD/HRK to their trading platform. This makes them (as far as I know) the first retail brokerage to offer Croatian crosses, something which will certainly be attractive to traders based in Eastern Europe. The Croatian Kuna has become to get more attention since the country entered into the European Union on the 1^st of July 2013, while Croatia is obliged to join the Eurozone at some point in the future there will be plenty of speculation to occur regarding the future of Kuna.  

The broker also went onto announce that since the 2^nd of January 2014, the brokerage had halved the spread on the USD/THB to 25 pips. The move was in part inspired by the greater volatility of the currency which has led many in South East Asia to follow economic news out of the country with a great deal of attention. In addition Saxo have stated that there has been significant demand from their clients in the region to provide a competitive offering on the currency pairing with many local traders keen to get their hands dirty trading the exotic FX pairing.  

The moves made by Saxo Bank highlight how brokerages are increasingly looking to emerging markets to continue their growth. The provision of products which appeal to those based in these countries is surely likely to help brokerages like Saxo Bank develop a strong presence in these strategically important regions.