Saxo Bank Broker Review


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    Visit BrokerRisk Warning: Your capital may be at risk


    💻 Demo Account: Yes
    ⚖ Allows Hedging: Yes
    🔪 Allows Scalping: Yes
    🏢 Headquarters: Copenhagen, Denmark
    📅 Founded: 1992
    📈 Trading Platform(s): SaxoTrader, SaxoWebTrader, SaxoMobileTrader, TradeMaker
    📜 Regulating Authority(s): Danish Financial Supervisory Authority, Banco de España, FSA, Monetary Authority of Singapore, Swiss Federal Banking Commission, Japanese Financial Services Agency
    💰 Minimum Deposit: $10000
    📣 Maximum Leverage: 200:1

    Visit Saxo Bank
    Risk Warning: Your capital may be at risk

    $10000
    Minimum Deposit
    200:1
    Maximum Leverage
    1992
    Founded

    Our Review of Saxo Bank

    Saxo Bank
    Company Overview

    Saxo Bank was created in 1992 and started an online presence in 1996. This is an international online investment bank. Currently, Saxo Bank has offices in over 25 countries. This bank is one of the founding ECN brokers. Saxo offers a broad range of trading instruments that includes more than 30,000 instruments over 33 exchanges. This bank has received numerous awards that include six Euromoney Awards, e-FX Awards 2012, Best World Finance 2011, Shares Award 2011, and two awards at World Finance 2012 Foreign Exchange Awards. Saxo Bank is regulated and authorized by the FSA, the Danish Financial Supervisory Authority, the Swiss Federal Banking Commission, Banco de España, the Japanese Financial Service Agency, and the Monetary Authority of Singapore.

    Account Types

    Currently, Saxo Bank provides 4 distinct account types. These trading accounts range from classic to MT4. The classic account is the most basic account and requires a minimum deposit of $5000. The premium account is a step above the classic account and requires a minimum deposit of $100,000. The platinum account is one of two premier accounts and requires a minimum deposit of $500,000. The last account is the Saxo MT4 Account which requires no minimum deposit and is provided by Saxo Capital Markets Cyprus Ltd. Saxo Bank offers trading in futures, Forex, stocks, CFDs, options, and ETFs. The diverse amount of instruments provides an excellent opportunity for traders to expand an investment into different types of markets.

    Commissions & Spreads

    Saxo Bank provides a tight variable spread. The bank offers a spread that will remain fixed under regular market conditions. For instance, the spread stays fixed 99% of the time in case of EUR/USD. Generally a spread for a major currency pair such as EUR/USD is 2 pips. In order to cover costs associated with administration fees, the bank charges a ticket fee of $10 on smaller trades.In the current market, Saxo Bank provides over 160 currency pairs, tight spreads, and excellent liquidity. More importantly, Saxo offers 41 binary and vanilla touch options.

    Trading Software

    Saxo Bank offers 5 trading platforms that include an in-house designed trading platform. These platforms consist of the Saxo Trader, the Saxo Web Trader, the Saxo MT4, the Saxo Mobile Trader, and the Saxo Trader App for iPhone, iPad and Androids.

    The Saxo Trader is the in-house designed platform for Saxo Bank. This platform is a dependable and consistent. The Saxo Trader allows grants access to more than 30,000 trading instruments. The Saxo Trader offers an enhanced trading experience with charting tools, account summaries, trade analysis, and trading options. This bank has also designed an excellent web-based trading platform. Traders can access this platform and begin trading without downloading anything. The web-based platform has charting tools and trading options but also includes price alerts, trade markers, live chat, and stock tools.

    Deposits & Withdrawals

    Deposits and Withdrawals are both completed by credit card and wire transfer. There are currently no other options available.

    Customer Support

    Saxo Bank offers customer service and support Monday through Friday from 00:00 – 21:00 in Central European Summer Time. Saxo Bank has excellent customer service that is accessible via fax, live chat, and telephone. Currently, the bank does not use email for customer support issues. The bank also has a comprehensive FAQ section on the website. Traders may access this area to find answers to general questions and issues. The Saxo trading platform also offers customer support via the built-in live chat function and instant messenger.

    Regulators & Safety

    Saxo Bank has strong and dependable safety regulations. This bank is regulated and authorized in various countries. Saxo Bank implements strict regulations in order to meet the criteria of various governing parties. This bank is in compliance with all regulation and rules mandated by the FSA, the Danish Financial Supervisory Authority, the Swiss Federal Banking Commission, Banco de España, the Japanese Financial Service Agency, and the Monetary Authority of Singapore.

    Leverage

    Saxo Bank has a considerably low leverage ratio. The maximum leverage ratio allowed is 1:200. This ratio is inadequate in comparison to other established brokers in the market.

    Sign Up Bonuses

    There is currently no sign up bonuses or promotions. 


    Visit Saxo Bank's Website

Company Information
Broker's Name
Saxo Bank
Headquartered in
Copenhagen, Denmark
Year Founded
1992
Regulating Authority
Danish Financial Supervisory Authority, Banco de España, FSA, Monetary Authority of Singapore, Swiss Federal Banking Commission, Japanese Financial Services Agency
US Clients Accepted
No
Telephone Number
45 39 77 40 00
Fax Number
45 39 77 42 00
E-Mail Address
institutional@saxobank.com
Account Options
Type of Broker
Market Maker
Commission
Yes
Mini Account
No
VIP Account
No
Segregated Account
Islamic Account (Swap Free)
No
Demo Account
Yes
Institutional Accounts
No
Managed Accounts
Yes
Maximum Leverage
200:1
Minimum Deposit
$10000
Deposit Options
Bank Wire
Withdrawal Options
Bank Wire
More Instruments
Metals
Oil
Gold
Indices
Stocks
Commodities
ETFs
CFDs
Trading Platform
Platform Type
SaxoTrader, SaxoWebTrader, SaxoMobileTrader, TradeMaker
Platform Languages
OS Compatibility
Streaming News Feed
Charting Package
Trading Signals
Automated Trading
Trade From Charts
Market Commentary
E-mail Alerts
Mobile Alerts
Scalping
Yes
Hedging
Yes
Trailing Stops
Guaranteed Stop Loss
No
Guaranteed Limit Orders
Guaranteed Fills
Interest on Margin
One-Click Execution
OCO Orders
Mobile Trading
Yes
Web-Based Trading
Yes
Customer Service
Customer Support Languages
English, Spanish, French, German, Portuguese, Italian, Greek, Chinese Mandarin, Chinese Cantonese, Japanese, Polish, Hungarian, Czech, Danish, Dutch, Russian, Hebrew, Arabic
Customer Service Hours
Place Trades Over the Phone?
Bonuses & Rewards
No Deposit Bonus
No
Bonus for First Deposit
No
Is the Bonus Based on the Volume of the Transaction?
No
Other Bonuses
No


English
Our Rating: 
0
No votes yet
Broker Type: 
Forex

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