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Saxo Bank Launches Social Trading Website

Saxo Bank Launches Social Trading Website

The Danish bank hopes the new platform will ‘transform trading into a social experience’.

Saxo Bank, the online trading and investment firm, has become the first fully licensed bank to launch an online social trading community.

Unveiling its beta format at the bank’s headquarters in Copenhagen on Thursday, Tradingfloor.com offers serious investors the ability to share trades with their peers around the world.

According to a statement, the bank, which has an office in Dubai, expects the financial community portal to ‘transform trading into a social experience’.

“We want to set free the peer-to-peer power of traders around the globe by enabling them to connect online with experienced and like-minded investors who are tired of input from salespeople from traditional banks,” said Saxo Bank’s co-founders and co-CEOs Kim Fournais and Lars Seier Christensen, in the joint statement.

“We are now enabling investors to share their trades openly, interact with each other, post comments and strategies, discuss ideas, follow and copy each other.”

The statement added that Saxo’s founders expect the new site to radically change how investors will trade foreign exchange, CFDs, options, futures, bonds and equities in the future.

All performance data on the new beta.tradingfloor.com will be verified, ensuring traders can be sure of the trades made by people they choose to follow or copy.

The site will also feature content useful for traders including market news, data, insight and trade ideas from the Saxo Bank’s research teams, while a real-time trade stream will show current market sentiment.

The Danish firm has even hired former ITV News journalist Angus Walker to present the portal’s on-demand TV channel live from the bank’s trading floor, alongside former Bloomberg and BBC World anchor Owen Thomas.

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