Saxo Bank to be Serviced by CitiFX Pro in the US

The news keep pouring from CitiFX Pro, which realizes the plans for expansion in 2011. Saxo Bank and CitiFX have partnered in the US: qualified customers will be transferred from Saxo to CitiFX Pro to trade margin FX online.

This cooperation, between strong forces on both sides of the Atlantic is another step in the industry’s maturing. It follows the  launch of CitiFX in the UK, and also winning of prizes.

Full disclosure: CitiFX Pro is an advertiser on this site. For more details, see the press release below:

CitiFX Pro to Service U.S. Customers of Saxo Bank

New York, June 28, 2011 – Citi has reached an agreement with Saxo Bank, the Danish online trading company, to transfer qualified U.S. customers to CitiFX Pro, Citi’s online  foreign exchange trading platform for individuals and small institutions. Saxo clients that meet Citi’s eligibility and other standards will have the opportunity to opt into a seamless process which would enable a smooth transfer of their accounts to Citi.

“We are pleased to reach this agreement with Saxo Bank,” said Kevin Wilson,  Citi’s North American Head of Foreign Exchange Margin Trading. “In just a few years, CitiFX Pro has become the venue of choice for experienced individual FX traders and small to mid-sized institutions. CitiFX Pro will provide a familiar environment for Saxo clients, with similar front-end technology and the added benefit of trading on the MetaTrader  4 platform and spreads from 1.2 pips.”

“After developing Saxo Bank as one of the larger foreign brokers offering FX in the U.S., we believe Citi is well positioned to service our U.S. clients going forward,” said Albert Maasland, Chairman of the Board of Saxo Bank London.  “We believe Citi has the right technological capability and pricing to provide these clients the high level of service they have come to expect.”

 

Through CitiFX Pro, Citi is currently the only major U.S. bank offering margin foreign exchange trading for small to mid-sized institutions and sophisticated individual investors.  CitiFX Pro provides clients the highly regarded technical and fundamental research available to institutional clients and offers extremely competitive pricing on over 130 currency pairs, with spreads as low as 1.2 pips for EUR/USD trades.    Profit & Loss, a leading UK magazine covering the global currency and derivatives markets, recently named CitiFX Pro as “Best Retail Platform” for margin foreign exchange trading for the second consecutive year.

About CitiFX Pro

 

CitiFX Pro  is Citi’s online  foreign exchange trading platform for active individual and small institutional clients including commodity trading advisors, broker-dealers, money managers, and hedge funds. Additional information may be found athttp://www.citifxpro.com.

 

About Citi

һCiti, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found atwww.citigroup.com.

 

About Saxo Bank

Saxo Bank is a leading online trading and investment specialist. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2011 Saxo Bank continued the diversification of its business and launched Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia and Middle East.