The financial cost of the acquisition was not disclosed.

As a result of the acquisition, Saxo Bank and Leverate will add to their services to institutional and retail clients, the firms said in a statement. Leverate operates the MetaTrader non-proprietary currency trading platform, launched in 2005.

"We have seen an increased demand among our institutional and retail clients for automated trading solutions, including MetaTrader,” said Stig Pastwa, chief commercial officer at Saxo Bank.

“This mutually beneficial partnership will allow our clients to benefit from enhanced top-tier liquidity sources, while the Saxo Bank Group's clients can have access to our Complete Broker Solution: MT4, Live Feed, Web & Mobile Traders, CRM and Risk Management, powered by Leverate, and fully integrated with Saxo Bank's core liquidity and execution engine. This partnership will in no way change the management or operations of Leverate and our clients can only benefit from it," the co-chief executives of Leverate, Ran Strauss and Doron Cohen, said.