ForEx : SAXO relauches trading platform
Saxo Bank, the specialist in online trading and investment, has re-launched its website, saying that it will "provide a simple entry point to anyone looking to become a forex trader and to be a useful resource for foreign exchange traders, or others, interested in the trading of currencies."
The company says that the redesigned ForexTrading.com website "will focus on providing vistors with all the information necessary for traders like topical forex market information, news and analysis from Saxo Bank and third parties, and on forex education using Saxo Bank's TradeMentor program and comprehensive financial glossary."
That's all very well. But, as discussed in World Money Laundering Report Vol 9 No 3, a recent case involving Saxo shows flaws in international regulation.
The new trading platform, announced in London, will be subject to regulation in multiple countries and additional complexity is added by the "white label" trading service under which third parties rebrand the Saxo service.
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