Saxo Bank is a well-established broker since 1992. Saxo Bank has headquarters in China, Greece, India, Italy, Netherlands, Spain, United Arab Emirates and United Kingdom. They are generally well-suited for Saxo Bank to provide their Forex/CFD trading services to global clients.
This broker has also been regulated by ASIC 109605610, Banque de France 483632501, CySEC 163/12, FCA (UK) FC026688, FSA (Denmark) 1149 and SFC (Hong Kong) 1395901. Simple yet detailed information upon this broker can be seen below.
Company Information
Website
www.home.saxo
Established
1992
Country
China, Greece, India, Italy, Netherlands, Spain, United Arab Emirates and United Kingdom
Regulation
ASIC 109605610
Banque de France, 483632501
CySEC, 163/12
FCA (UK), FC026688
FSA (Denmark), 1149
SFC (Hong Kong), 1395901
Features
Interest rate on funds
Account Information
Apart from the forex demo account, this broker offers Classic and Platinum. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by Saxo Bank is up to 1:200. Meanwhile, you can open an account with a starting capital of $10000
If you want to look for further information about this broker's offered account(s), please take a look at the list below.

Minimum Deposit
$10000

Maximum Leverage
1:200

Spread
Fixed
Minimum Deposit $10000
Minimum Position 0.05 lot
Spread Fixed
Scalping
Expert Advisors
Trailing stop
Pending orders
One-click trading
Mobile trading
Browser-based platform
Instruments Traded
Besides lots of currency pair, Saxo Bank also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Spread betting and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
Minimum Deposit $200000
Minimum Position 0.05 lot
Spread Fixed
Scalping
Expert Advisors
Trailing stop
Pending orders
One-click trading
Mobile trading
Browser-based platform
Instruments Traded
Besides lots of currency pair, Saxo Bank also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Spread betting and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
Payment Methods
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Saxo Bank also provides payment with Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, Saxo Bank offers you SaxoTraderPRO (Limited with 20 days), SaxoWebTrader (Limited with 20 days) and SaxoTraderGO (Limited with 20 days).
Customer Support
Do you have any question or find any trouble related to Saxo Bank? If you do, you should reach Saxo Bank's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office
Support
Email
Support
Call
Support
Chat
Support
Extensive Review
Saxobank was founded in 1992 in Denmark, which began as a brokerage business. At present, they have penetrated the online banking and forex trading business internationally. The company is known as one of the best in the industry.
Their innovative platforms have been used by Microsoft's global institutions, Barclays Stockbrokers Ltd, and TD Waterhouse. The platforms include SaxoTraderGO, an award-winning trading platforms and is offered as Saxobank's flagship. Two other platforms are SaxoTraderPRO and SaxoInvestors. Each platform has advantages and functions.
SaxoTraderPRO is suitable for use by advanced traders and institutional clients, which trade faster via quick-close all features and view exchange order books and execution reports in real-time. On the other hand, Saxo TraderGO is a platform for retail traders. This type of platform offers easy portfolio management from a single account. For example, traders can get live and historic reports of net holdings.
As for Saxo Investors which is a user-friendly case-product platform tailored to retail investors, there are several advantages including browsing curated themes and pre-made screenings. Also, clients can choose between diversified investment portfolios. It is a responsive platform accessible from any device.
The Saxobank website accommodates the needs of international clients, with dozens of languages available on the Saxobank website. Besides English, there are also Japanese, Mandarin, French, Italian, Indonesian, and many more.
When clients choose Saxo, clients are choosing to trade with a fully regulated industry leader, who adheres to strict regulatory requirements in 15 financial centers around the world, including the UK, Singapore, Hong Kong, and Denmark.
Another advantage is traders have so many choices of instruments that can be traded on Saxo, covering 40,000 instruments across 184 forex pairs, 9,000 CFDs, 19,000 shares, 200 Stock options, 2,500 ETFs, Futures, Gold, Silver, and many more.
Since the company also serves as a bank, the speed of execution at Saxo can be guaranteed. However, some traders may feel that Saxobank is not suitable for individual trading, as the minimum capital is too large and the spreads and commissions are considered burdensome for so many clients. The spread which is charged by Saxobank for each pair is quite large, so it is not suitable for scalpers. Meanwhile, the commission that must be paid by traders to this broker starts from USD1.
Furthermore, Saxobank often stops trading for a few seconds before the release of important news and only activates it again after the news is released. This makes news traders do not have the best opportunity to act on Saxobank.
Actually, The deposit value can be adjusted according to the level of account chosen by the clients. There are three levels in Saxo Accounts, including Classic (minimum funding is 500 Pounds), Platinum (minimum funding is 50,000 Pounds), and VIP (minimum funding is 1,000,000 Pounds). Clients can use leverage 1:200 and a minimum lot of 0.05.
Traders are spoiled with various kinds of facilities provided by Saxobank. Each aaccount level has its own facilities offering that can be adjusted to the needs of traders. The higher the level, the more complete the facilities provided.
For example, traders who have VIP accounts will get personal relationship managers, and direct access to trading experts 24 hours. These facilities are not found when traders choose Classic and Platinum accounts.
For Corporate Clients, Saxobank provides 40,000 instruments, with 1: 1 support from expert account managers and the security that comes from their 25+ year experience.
If clients meet professional criteria, they can join Professional Accounts at Saxobank. The criteria in question include having a financial portfolio that exceeds around 500,000 Euros, having placed at least 20 relevant trades in significant sizes over the last four quarters, and having worked in the financial sector for at least one year.
Moreover, Saxobank provides more than 100 institutional specialists operating from offices in key financial centers, including Denmark, London, Singapore, Shanghai, Hong Kong, Switzerland, and Dubai. The client can choose the location closest to their area. With this kind of support, Saxobank is optimistic for delivering the right solution for the business of clients.
From the explanation above, it can be concluded that Saxo is more suitable for deep-pocket forex traders who are interested in forex trading as an investment portfolio. The broker's business focus is also more towards institutional clients rather than retail clients.
Thomas
Sep 17 2020Customer service simply does not exist. Forget them. They have a great affiliate marketing to convince people to join but that is all.
Terajuana
Sep 16 2020started the online application process but midway through i checked this site for their reviews and seen how bad they are. I stopped the process but my details were saved on their system. They have tried to call me 3 times every day for the last 2 weeks and no signs of them stopping. Why do they need to do this and it is a major red flag. avoid
Faughan
Sep 15 2020They seriously need to learn how to communicate to new clients. Impossible to open a Corporate Ltd account, sent all required info and they don’t bother to even confirm receipt or if in the process, I’ve been calling them for 9 days since submitting and they pass you around to someone else who says they are not dealing with it. I would hate to think how stressful it would be if I had to call them to try resolve a trading issue.
Kuangfui321
Sep 14 2020After 2 years of being there as a trader and investor, I’m very satisfied with the platform. It’s intuitive, genuine and fast process of withdrawal. Look forward more improvement from Saxo!
Farhang
Sep 13 2020Saxo says no withdrawal fee, but actually withdrawal has a fee under the name of intermediary charges, funny enough that there is no other bank involved in the withdrawal transaction.