Saxo Bank Securities, the Japanese arm of brokerage firm Saxo Bank, said users can trade options on foreign exchange and precious metals using the Option Strategy feature.
Previously, the Option Strategy feature was used by traders to trade options on foreign stocks. It allowed for the efficient implementation of complex option trading strategies and received good feedback from users.
This was the main reason for Saxo Japan's decision to use the Option Strategy feature to trade options on foreign currencies and precious metals, FNG said.
With the Option Strategy, traders will be able to place and execute up to 10 call/put buy and sell orders simultaneously. An order can be placed while simultaneously checking against a profit and loss chart that visualizes the maximum profit, maximum loss, break-even point, etc. for a given trade, so even when placing multiple orders, careful profit and loss modeling can be done in advance.
The solution also allows users to take advantage of Delta Trading, which involves placing a spot position at the same time as an options order.
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