Saxo Bank review
About the broker
In 2002, the Danish company Saxo Bank was established. This new company, after its creation, started to deal with online trading in securities, world indices, cfd shares, currencies, commodities and last but not least bonds. Currently, its offer of trading instruments is one of the widest on the market.
There is an opportunity for every trader to educate themselves through seminars and webinars provided by Saxo Bank, the broker provides a large amount of educational materials in English. Especially in the form of e-books or video materials, which will be appreciated by novice traders as much as advanced ones.
So if you're looking for a reason why choose Saxo Bank, it's the sheer number of instruments you can trade with Saxo Bank. For some, having your own platform where you can trade different investment instruments at the same time may also suit you.
However, SaxoBank has relatively high fees and spreads, plus what may be a complicated trading platform for some. Saxo Bank also charges an inactivity fee of $100 for 6 calendar months. A list of current fees can be found on the broker's website.
Basic information | |
---|---|
Regulations | |
Number of CFD asset classes | 5 |
Broker type | ECN, STP |
Customer support | |
Deposit from | 2000 EUR/USD |
Spreads | 2 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change. |
Real Stocks and ETFs | |
Platforms | |
Instruments CFD | Commodities, Share CFDs, Forex, ETF, Indicies |
Established | 1992 |
Location | Philip Heymans Alle 15 2900 Hellerup Denmark |
Phone | +44 (0)207 151 2000 |
LondonReception@saxobank.com | |
Country | Denmark, UK |
About the broker
In 2002, the Danish company Saxo Bank was established. This new company, after its creation, started to deal with online trading in securities, world indices, cfd shares, currencies, commodities and last but not least bonds. Currently, its offer of trading instruments is one of the widest on the market.
There is an opportunity for every trader to educate themselves through seminars and webinars provided by Saxo Bank, the broker provides a large amount of educational materials in English. Especially in the form of e-books or video materials, which will be appreciated by novice traders as much as advanced ones.
So if you're looking for a reason why choose Saxo Bank, it's the sheer number of instruments you can trade with Saxo Bank. For some, having your own platform where you can trade different investment instruments at the same time may also suit you.
However, SaxoBank has relatively high fees and spreads, plus what may be a complicated trading platform for some. Saxo Bank also charges an inactivity fee of $100 for 6 calendar months. A list of current fees can be found on the broker's website.
Basic information | |
---|---|
Regulations | |
Number of CFD asset classes | 5 |
Broker type | ECN, STP |
Customer support | |
Deposit from | 2000 EUR/USD |
Spreads | 2 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change. |
Real Stocks and ETFs | |
Platforms | |
Instruments CFD | Commodities, Share CFDs, Forex, ETF, Indicies |
Established | 1992 |
Location | Philip Heymans Alle 15 2900 Hellerup Denmark |
Phone | +44 (0)207 151 2000 |
LondonReception@saxobank.com | |
Country | Denmark, UK |
Pros
Fully licensed European company with a strong background
More suitable for sales professionals
Proprietary trading platforms
Competitive trading spreads
Really large number of trading instruments
Cons
Fewer deposit and withdrawal options
High minimum deposit from EUR 2,000
Fees + $100 inactivity fee after 180 days
Licences and regulation
- Saxo Bank A/S - Danish FSA licence no. 1149
- Saxo Capital Markets UK Limited - FCA (UK) registration number 551422
- Saxo Capital Markets Pte. Ltd. Singapore - MAS (Singapore) Registration No. 200601141M
- Saxo Bank - Representative Office (Dubai) - the Central Bank of the UAE registration number 2017/995/13
- Saxo Bank FX Securities K.K. - athe FSA (Japan) registration number 239
- Saxo Capital Markets Hong Kong Ltd. - SFC (Hong Kong) registration number 1395901
- Saxo Capital Markets (Australia) Pty. Ltd. - ASIC (Australia) Registration No. 126 373 859
Trading platforms and account types at SaxoBank
To get started, you can set up a demo account, which is provided by the broker for a limited period of 20 days, on the other hand, you get it for free and can try trading with real market conditions through a virtual deposit of $100,000. Along with the demo account, you get the opportunity to trade a wide asset class at real prices and dedicated support if you are unsure about anything.
After you try out the platform or the time allotted for trading through the demo account expires, you can open your own real account. With SaxoBank, you can try out a demo account or go straight to a real account.
Demo account
limited to 20 days, held in euros, free for everyone, the opportunity to try FOREX trading and other financial instruments in real market conditions.
Real account
possibility to choose from two platforms (each offering different type of trading, different products), free of charge, payment for securities transactions. Broker offers three types of trading accounts: Classic, Premium and Platinum.
Minimum deposit: 2000 USD.
182 currency pairs (including silver and gold), 9,000 CFDs, 16 index CFDs, ETFs, stocks from 36 global exchanges, as well as FX options, futures contracts and other derivatives.
SAXO PREMIUM ACCOUNT
Minimum deposit: 100 000 USD
Full product portfolio: 182 currency pairs (including silver and gold), 9,000 CFDs, 22 index CFDs, ETFs, stocks from 36 global exchanges, as well as FX options, futures contracts and other derivatives.
Trading Platforms SaxoTrader - SaxoTraderGO
At Saxobank you can trade via the SaxoTrader platform and SaxoTraderGO (web browser and mobile app). SaxoTrader offers up-to-date market information and all the latest technical tools and features for successful trading.
The trading environment in this platform is fully personalized, including prices, market analysis, data modules and news, technical analysis and graphical features.