Saxo Bank A/S, the online trading and investment specialist, has launched its FX service in Japan with the acquisition of Astmax FX Co., Ltd. (Astmax FX). The purchase is approved by relevant regulatory bodies in Denmark and Japan.
The acquisition and renaming of Astmax FX to Saxo Bank FX K.K. allows Saxo Bank to offer FX related products to the Japanese retail market under the Type 1 Financial Instrument Dealer license with the Japanese Financial Services Agency. Saxo Bank FX’s client funds will be held in a separate trust bank account.
Saxo Bank FX’s parent company, Saxo Bank A/S is a fully licensed and regulated European investment bank. It has won numerous awards such as FX Week’s Best Bank for FX award and Best Retail Platform award by Profit and Loss magazine.
“We are pleased to offer our award-winning platform, the SaxoTrader, to Japanese retail investors seeking a secure platform that provides them with the right tools to trade online confidently. With Saxo Bank FX, investors will have access to over 155 FX crosses, state-of-the-art charting and analysis tools,” says Wataru Kojima, representative director of Saxo Bank FX.
“Japan is a key financial center in Asia and Saxo Bank believes that there is room for growth in the Japanese market for online trading of FX and other financial products,” says Kim Fournais, co-CEO of Saxo Bank. “The decision to offer FX services to Japanese retail investors gives Saxo Bank a stronger foothold into the Japanese market.”
L.D.