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Saxo Bank

Company Saxo Bank A/S
Website
Broker type STP / ECN
Minimum deposit 2000 EUR
Regulations FSA (Denmark), FCA (UK), CONSOB, FSA (Japan), SFC (HK)
Discount SaxoRewards loyalty programme, refer a friend programme

Average rating

View ratings
9.3
Total average

9.3/10

Credibility ( 10 )
No problems with withdrawals. No suspicious practices.
Customer Service ( 9 )
Contact with the support. Deposit/withdrawal process. Reliability.
Offer ( 8.5 )
Level of spreads and commissions. Product Range.
Platform ( 9.5 )
Ease of use, fast execution, reliability.

Description

Saxo Bank is a Danish investment bank founded in 1992 that provides global online trading services. The company is regulated by many financial regulators, incl. Danish FSA, British FCA and Japanese FSA. The company has 18 local offices around the world

Saxo Bank’s platform offers access to over 40,000 financial instruments from Forex, CFD, Stocks, ETFs, Funds, Bonds, Cryptocurrencies, Options markets and SaxoSelect investment portfolios. On average, it takes about 3 days to verify a new customer and open an account. The required minimum initial deposit is EUR 2,000 or equivalent in other currency.

You can find an overview of the costs and commissions charged by Saxo Bank here (go to page).

Account types at Saxo Bank

The Saxo Bank broker offers three types of individual accounts:

Classic

  • Minimum deposit: EUR 2 000;
  • 24/7 account support and technical support;

Platinum

  • Minimum deposit: EUR 200 000;
  • Spreads lower by up to 30%;
  • 24/7 account support and technical support;
  • Priority customer service in the local language;

VIP

  • Minimum deposit: EUR 1,000,000;
  • Best Spreads;
  • 24/7 account support and technical support;
  • Personal Account Manager (in local language);
  • Direct access to financial experts around the clock, 5 days a week;
  • 1: 1 sessions with Saxo Strats experts;
  • Invitations to exclusive events;

Trading platforms at Saxo Bank

Saxo Bank offers 3 different trading platforms, the ability to connect your account with external platforms such as MultiCharts or TradingView and the access to the API.

The broker offers two proprietary trading platforms, SaxoTraderGO and SaxoTraderPRO.

SaxoTraderGO offers enhanced trade tickets, fundamental and technical analysis tools, extensive charting package, options chain, performance analysis and comprehensive account overview.

SaxoTraderPRO algorithmic orders, one-click trading, options chains and charting packages. Analyse your performance in detail with revamped account section.

The third platform is the well-known MetaTrader 4.

Instrument offerings at Saxo Bank

The broker divides its products into two types – leveraged products and traditional investment products.

Leveraged products

  • Crypto FX
  • Forex
  • CFDs
  • Futures contracts
  • Raw Materials
  • Currency options
  • Stock options
  • SaxoSelect – Trading Strategies

Investment products

  • Actions
  • Bonds
  • ETFs
  • Cryptocurrency ETFs
  • Investment funds
  • SaxoSelect – Managed Wallets

Is the Saxo Bank broker safe?

Yes, Saxo Bank is a well-known financial institution that has been in the market since 1992.

Is the Saxo Bank broker operating legally?

The broker is regulated in many countries - Denmark (FSA), United Kingdom (FCA), Italy (CONSOB), Japan (FSA) and others.

What can you invest in on the Saxo platform?

Saxo Bank allows you to invest in Stocks, ETFs, Bonds, Cryptocurrency ETFs, Special Funds and leveraged products (including forex).

Is the Saxo Bank account free?

Yes, but broker charges spreads and transaction fees on every transaction.

Michał Misiura

Specifications

Company Saxo Bank A/S
Website
Broker type STP / ECN
Leverage 1:30
Minimum deposit 2000 EUR
Negative balance protection Yes
Regulations FSA (Denmark), FCA (UK), CONSOB, FSA (Japan), SFC (HK)
Trading platforms SaxoTraderGO, SaxoTraderPRO, MetaTrader 4
Payments Bank transfer
EUR/USD Spread from 0.7
Min lot 0.01
Country Denmark
Established in 1992
Number of instruments 40,000+
Discount SaxoRewards loyalty programme, refer a friend programme

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Saxo Bank - No news & warnings

Saxo Bank - Reviews (2)

9.0
Partial ratings
Credibility:10
Customer Service:9
Platform:9
Offer:8

A serious company, they have been on the market for a very long time, and I have been trading with them (among others) for 2 years. Unfortunately, not the lowest spreads, but everything else at the highest level.

Plusses No plusses
Minors No minors
Posted on
9.5
Partial ratings
Credibility:10
Customer Service:9
Platform:10
Offer:9

Great broker with huge number of instruments. Good spreads and excution. I am trading with them for over 1 year and not going anywhere.

Plusses No plusses
Minors No minors
Posted on

Submit your own review

No problems with withdrawals. No suspicious practices.
Contact with the support. Deposit/withdrawal process. Reliability.
Level of spreads and commissions. Product Range.
Ease of use, fast execution, reliability.

 

I confirm that this review was written based on my own experience and was not solicited in any way by any broker.

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