COPENHAGEN, Denmark, April 2, 2007 (PRIME NEWSWIRE) -- Profit & Loss Magazine has given Saxo Bank its 2007 award for best retail FX platform, placing the Danish-based bank ahead of nominees including FXCM and Gain Capital.
In its justification for the award, Profit & Loss magazine's prize jury cited Saxo Bank's commitment to customer service and the breadth and diversity of the markets and investment instruments available on Saxo's platform, which includes access to some 160 FX crosses in 23 different languages.
The jury placed additional emphasis on Saxo Bank's network of white label partners (WLP's) for providing clients with a total service concept, combining ease of access and a sophisticated product offering. Saxo Bank currently works with more than 70 WLP's worldwide.
Responding to news of the award, Saxo Bank co-founders and co-CEO's Lars Seier Christensen and Kim Fournais issued the following joint statement: "We are proud to accept this award from Profit & Loss magazine. We are particularly pleased that the jury singled out our commitment to serving clients with a high degree of fairness in pricing and protection of their interests. We believe this is a key component to creating long-term success in the online capital markets space, building long-term relationships and a strong asset base - and certainly the reason why Saxo Bank currently holds 50% more client assets than the entire US retail FX industry combined."
Winners of the other categories in Profit & Loss magazine's annual awards represented a stripe of the world's most respected tier-one financial institutions, including UBS, Citigroup, Deutsche Bank, HSBC, JP Morgan and Barclays.
About Saxo Bank A/S
Saxo Bank A/S is a modern investment bank specializing in online investments in the international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFD contracts, futures, options and other derivatives as well as portfolio management via our online trading platform - SaxoTrader. SaxoTrader has been internally developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships as an integral part of their own infrastructure. One of Saxo Bank's significant areas of business is White Labelling, which is the development of tailored versions of the online trading platform to other banks and brokerage houses. Saxo Bank has more than 70 White Label Partners and thousands of clients in 177 countries. The bank's website www.saxobank.com has approx. 65,000 visitors every day. Saxo Bank currently employs more than 800 employees from 45 different countries. The bank is headquartered in Denmark, with operating offices in London and Singapore, and an IT development center in St. Petersburg, Russia.