Saxo Bank introduces MetaTrader 4

MetaTrader 4 is the world's bestseller among the trading platforms used to trade on Forex market. Intuitive interface, reliability and a multitude of non-standard solutions that we can implement or use ready-made (expert advisors, indicators, scripts) is definitely something that not only attracts, but also maintains interest in this platform for many years. Now, he announced the expansion of the offer with MT4 Saxo Bank.

We talked to Tomasz Szymula, Relationship Manager at Saxo Bank, about this decision, plans for the future and the differences from competitive MT4-based offers. More information about the platform itself can also be found on the dedicated website.

Tomasz Szymula

Why did Saxo Bank decide to introduce MT4, since it has had two proprietary trading platforms for many years: SaxoTraderGO and SaxoTraderPRO?

We want to provide our clients with the widest possible access to the market. Many of them want to trade using Expert Advisors (EA) - auto-trading tools that are only available through the MT4 platform. EAs monitor financial markets and invest in them using algorithms. They look for deals depending on the parameters set by the customer and can open and close positions automatically.

In addition, some clients are already used to the features and operation of MT4, so we want to give them the flexibility to use an interface that is familiar and convenient to them, while still offering access to a multi-asset account with Saxo Bank.

What is to distinguish Saxo Bank's MT4 offer from the competition?

We offer some of the most competitive currency spreads on the market. We also do not operate in the B book model because we want our clients to earn money on transactions and cooperation will be beneficial for both parties. 

If the client's account balance is at a certain level, we also provide MT4 users with our brokerage liquidity streams through Direct Market Access (DMA).

Another big plus is that our MT4 users benefit from netting through their Saxo account. Most MT4 brokers do not netting opposite trades, therefore the client pays for rolling long and short gross positions. However, the net positions are netted before the tom / next rollover is applied, so you can save a lot of money on rollover by using MT4 at Saxo Bank.

Is the MT4 offer addressed to a different type of client? What are the minimum requirements for opening an account?

Any Saxo client can use MT4 as long as they meet the minimum account balance requirement of $ 20 with Saxo Direct. If he would like to have Direct Market Access (DMA) we require a minimum account balance of $ 000.

Saxo Bank offers several thousand instruments. Will they all be available as part of the MT4 offer?

Currently, we only offer trading on the MT4 platform Forex spot.

Are the trading conditions on MT4 the same as on SaxoTraderGO and SaxoTraderPRO?

Yes. Our clients use real-time netting on MT4 in the same way as on the SaxoTraderGO and SaxoTraderPRO platforms. We just use MT4 as a trade capture technology.

Brokers more and more often stop using MT4 and switch to the "little brother" - MetaTrader 5. Is this only temporary for Saxo and will MT5 be available soon?

Many auto trading (EA) tools still work exclusively on MT4, so it is essential for clients who use them that we continue to offer access to this platform. However, we will endeavor to add MT5 to our offerings in the future if we believe it will be of benefit to our clients.

Do existing Saxo clients need to go through the registration process anew to use MT4?

No, all you need to do is contact customer service. As long as the client meets the minimum margin requirements, he will have access to this trading platform. For new customers, the standard registration procedure must be followed.

Thank you for the conversation.

More information on the MT4 platform offered by Saxo Bank is available at website.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs, FX or any of the products on offer work and whether you can afford to take such a high risk of losing your money.