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Saxo Bank published its report for investors for the first half of 2010 yesterday and the results are excellent. Net profit increased 13-fold from DKK 41 million (~$7 million) to DKK 551 million (~$95million). In fact, the income rose so much that the first half year of 2010 was better than any other full year [...]

Saxo Bank has just launched another forex portal called www.forextrading.com. The folks at Saxo are doing a pretty decent job at launching new websites and portals though I have reservations regarding Saxo’s decentralized marketing effort here. Saxo only recently re-launched its tradingfloor.com website, of which I was critical at the time, which appeals to the more [...]

From today’s Jyllands-Posten: Saxo Bank faces heavy expenses in an effort to prove to the FSA that it executed client orders according to its best execution policy. Whoever is after Saxo they are pretty successful at getting deep into their pockets. According to Danish daily Jyllands-Posten, Saxo Bank is set to pay around a million [...]

Saxo bank is looking to enjoy its award from the “Profit and Loss” magazine for having the best re-labelling platform for 2010. This should provide Saxo bank with robustness for their white label business; Saxo bank currently has over 120 white label clients. Saxo Bank has won the award for providing the best while label [...]

Complain to Google if you don’t like the transalation: On 14 June 2010 the FSA has conducted an inspection at Saxo Bank concerning the bank’s compliance with the rules on investor protection and execution of warrant. Inspections include prompted by the prosecutor’s office brought against the bank in the press, and the five questions regarding Saxo [...]

Widgets: Saxo Bank, a broker I have an ambivalent relationship with as I can’t decide whether it is good or bad,  just announced that it launched a suite of Forex widgets. As usual for Saxo when it’s coming to technological innovation it is leagues behind other brokers (Dukascopy and eToro for instance) who already provide [...]

I had the chance to interview Sanjay Madgavkar, the Global Head of Citi’s retail FX business – CitiFX Pro. Q: Is Citi planning on developing its own trading system just like Mogran Stanley and Barclays lately did? Or is Citi going to keep relying on existing technology such as MT4 and Saxo’s? A: Our clients [...]

Saxo Bank, one of Europe’s largest brokers, is both dealing with a large lawsuit by a Portuguese client and with a very ambitious expansion plan which involves implementation of many social trading tools. Taking into account FXCM’s latest European expansion move with ODL’s acquisition one can say that Saxo is facing a critical crossroad right [...]

It seems that two days can’t go by after I’ve finally flattered Saxo Bank and them being accused of something that may actually prevent me from eating my hat (Chris – take your hat back in the meanwhile). Danish press is full of reports today about a Portuguese financial house that threatens to sue Saxo for 10 [...]

FXCM and Saxo have been battling it out for the European dominance in the past few years, more increasingly in 2009. Saxo’s battle is lost, if you ask me, despite opening a few Eastern European offices lately. Not only the US brokers should fear the latest CFTC requirements but also their European colleagues – when [...]