Saxo Bank to Enable MENA Crypto Investors to Trade in Bitcoin, Ethereum and Litecoin

Saxo Bank to Enable MENA Crypto Investors to Trade in Bitcoin, Ethereum and Litecoin

The new Crypto FX offering complements Saxo Bank's existing range of over 40 different cryptocurrency trackers and ETNs, which so far this year have seen trading volumes exceed the entire turnover for the whole of 2020 - a year in which volumes surged 130%. Clients in selected markets can trade Crypto FX pairs during the usual FX trading hours from Sunday evening to Friday evening. Clients can trade and hedge both long and short exposure in the three major cryptocurrencies, which will be in the form of derivatives and not physical coins. Due to the volatile nature of the instruments, retail clients can trade with 2:1 leverage and professional clients with 3:1 leverage. Kay Van-Petersen, Global Macro Strategist at Saxo Bank, said: "Saxo Bank has developed a unique proposition which gives our clients access to the growing crypto space in a flexible, secure and hassle-free manner from a single fully-licensed account without the need to use wallets or cold storage solutions. The offering sits at the intersection of traditional finance and crypto, which is where we see the market evolving as it draws the attention of retail traders and financial institutions. "We set out to deliver a product which offers