The clients of Saxo Bank who uses platform SaxoTrader could opt to trade with Russian Ruble in USD/RUB and EUR/RUB.
The clients of Saxo Bank could breath freely because this dual-functioned company had been waking up from its hibernation by announcing a good news. Since yesterday (08/19) the clients who uses platform SaxoTrader could opt to trade with Russian Ruble in USD/RUB and EUR/RUB. This good news was coming on time to dismiss the clients’ worries as this company announced in last July that its trading volume had been continuously decreasing and seems infertile to pop up some new offers to the traders. This innovation of USD/RUB and EUR/RUB trading option had finally proofed that Saxo Bank is still alive.
Maybe some of us questioned, why should be Russian Ruble? This Denmark headquartered company had two main reasons of it. As it was stated by the Vice President of Production Management, Didier Abato, it was because the attractiveness of Ruble for many investors and there is no any bank who offers exotic pair with Ruble yet, therefore Saxo Bank became the first company who provide that option.
The accounts to use that option are Classic, Premium, and Platinum. The clients are required to have at least $5,000; $100,000; and $500,000 investment in their account and the minimum trade size must be 10,000 (the mini lot). There is also an option of Forex Vanilla. It is an option from Saxo to give their holder right to sell or buy certain currencies in a certain time frame. On the other side, the trading of exotic pair such USD/RUB will usually lead to the high spread. But don’t worry, Saxo offers the tight spread for the whole three account types, it is around zero, and the lowest should be for platinum account. Thus, the option is added become 43, before it is only 41.