Brokers’ Update – Saxo Bank Adopting Arabic, eToro Offers Unleveraged FX

Brokers’ Update – Saxo Bank Adopting Arabic, eToro Offers Unleveraged FX

In our latest daily digest of news from across the global retail trading industry, we see that one broker expands its international reach while another offers a less risky type of trading.

The social network eToro notified its clients today that from Sunday, (16 August), it will enable trading on all currency pairs available at eToro with 1:1 leverage (or no leverage at all in other words). This will enable eToro users to invest in currencies using only their funds, with no added risk factor due to leverage.

Current eToro minimum is 2:1 leverage

Saxo Bank has launched a dedicated Arabic website as part of its latest drive to encourage traders across the Middle East to switch to its proprietary SaxoTraderGO platform – a multi-asset trading platform the brokerage uses to rival MT4. The new Arabic website enables Saxo Bank ‘s clients in the region to review product and platform offerings, trading conditions, and training materials such as videos and PDF guides.

“Launching our new website will add value to our services in the Middle East by providing our multi-asset platform in Arabic and giving the opportunity to our investors to explore the possibilities and opportunities from a single account connecting more than 30,000 products in 40+ exchanges,” said Fadi Mehdi, Head of Saxo Bank ‘s office in Abu Dhabi.

“We are at the tipping point of a digital wealth management revolution that will find most retail and private banks unprepared. Platforms such as SaxoTraderGO are levelling the playing field between retail and institutional investors, and can provide the transparency and real time access to their finances across different devices that Arabic investors are looking for.”