Saxo Group Reviews

Technical indicators and can add many editing tools, like trendlines or Fibonacci tools. Saxo’s bond selection is average.The product portfolio includes both government and Day trading corporate bonds. Mutual funds are only a relatively recent addition to Saxo’s product portfolio, and are available only in a few countries, like Germany, Poland or Denmark.

The traders can use this demo mode to familiarise themselves with the platform with the trading features and functionalities. If you are a new trader, using a demo mode will immensely help to practice trading. When you are confident enough with a demo mode, you can proceed with live trading. As per our Saxo Bank review, we can say that the minimum deposit required by this broker is 500 pounds in the UK if they are choosing a classic type. Besides, the minimum amount to deposit varies depending on the account type the trader chooses and the residing country.

Then again, one can turn into a “learner” at the Saxo Academy and look over the endless online tutorials accessible. In mid-June 2008, Riis Cycling A/S announced that Saxo Bank had entered a three-year contract as title sponsor, with immediate effect, so the team entered the 2008 Tour de France as Team CSC Saxo Bank. Carlos Sastre won the Tour, and the team took the team classification. In 2009 and 2010, Andy Schleck finished the Tour in second place. Following Bjarne Riis’ sale of the team to Oleg Tinkov, Saxo Bank stopped its sponsorship as of 2016.

Markets And Products

While the support feature may never be used, clients can rest assured that Saxo Bank stands by in order to address any issues which may arise. Given the overall excellent performance of this broker, support should be expected to match that quality. SaxoTraderGo apps for iOS, Android, and tablets provide easy access to the impressive features on the desktop and web versions, with full syncing across platforms. The indicator list is shorter but comprehensive, and traders can read real-time news and research with a few swipes.

Though it might appear complex, it features an easy-to-follow menu that makes navigation through it convenient. If You want to trade an account like a hedge fund, or lige george soros would’ve done , saxo is a good place to be. Saxo Bank has a wide variety of products and instruments which will make it superior to all in the market.

Does Saxo have monthly fee?

Can I have the monthly fee waived? Yes. You earn Saxo Rewards points for funding your account and trading. If you earn the required number of monthly points for the plan you’re on, we will automatically waive your current month’s fee.

With the complexity and range of available assets for trading, comes a more complex fee structure. This may be very confusing for new traders who should take their time to read through all the provided information. While this may appear overwhelming to most retail traders, Saxo Bank is very transparent and lists all costs with examples under “Commissions, Charges and Margin Schedule”.

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For non-UK clients, the inactivity fee is $150 after six months of inactivity. Inactivity in this case means not executing at least one trade. The trading fees of stock index, commodity, forex and bond CFDs are built into the spread. In the sections below, you will find the most relevant fees of Saxo Bank for each asset class.

What should Saxo Bank do and why?

We provide multi-asset market access and Banking as a Service to clients in 170 countries via cutting-edge technology. Saxo’s user-friendly and personalised platform experience gives investors exactly what they need, when they need it, no matter if they want to actively trade global markets or invest into their future.

Its range of products in more traditional asset classes such as stocks, ETFs or bonds is also competitive, but not the best. Saxo’s mutual fund and crypto product lineups lag behind its competitors. To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs.

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Traders can access research tools through either the website or the platform, but its small archive and poor search functionality make it hard to navigate and find exactly what you’re looking for. The Youtube page has a subset of analyst videos but there aren’t many materials available in the research Finance section. Overall, none of this is surprising because Saxo’s business objectives really prioritize bigger and professional traders over the small guys. Saxo Bank is headquartered in Copenhagen but holds offices in places including Paris, London, Zurich, Singapore, Dubai, India and Tokyo.

For every trade placed, the trader will have to pay a certain amount in costs or commissions. These costs vary from broker to broker, but they are usually a relatively low amount and are often the only cost of trading which a trader is likely to incur. The transfer of stocks and bonds into Saxo Capital Markets is free of charge, although some fees may apply when transferring out of the customer’s account. Credit/Debit Card Transfer – no deposit and withdrawal fees are charged by the company, but the corresponding banking institution may charge some fees. Although these accounts offer great advantages, the minimum deposit is extremely high and probably not suited for beginners. Saxo Bank specializes in quite several financial services, of which online trading is just one.

Very Bad Service And Dodgy Charges

When it comes to CFDs, you’ll be hard pushed to find an online broker offering more of a variety than Saxo Bank. They offer all major and minor pairs, and there’s a decent selection of exotic pairs too, meaning you’ll have a great range of options. If you’ve chosen to use the MetaTrader4 trading platform you can download their app free of charge too. I can say with certainty that those who open a trading account at Saxo Bank will have a safe and fair experience.

The trader also has the option of selecting the expiration time of this order. Saxo’s banking license, oversight by top-tier authorities and regularly disclosed financial data are all great markers of Saxo’s safety. Saxo Bank has a Danish banking license, and as such it is subject to tougher regulations than brokers without a banking background. It’s recommended if you don’t want to manage your investments on your own or simply need to gain some confidence in investing.

What is the minimum deposit for Saxo Bank?

The Saxo Bank minimum deposit in Malaysia is set at 3,000 SGD. This minimum deposit applies to all Saxo Bank account types available in Malaysia.

Your Saxo Bank account will likely be approved, but you will also need to verify your identity and residency before you’re able to actually deposit money and begin trading. If you choose to open the Classic Account, you’ll need to make a minimum deposit of at least £500. Absolutely pathetic customer support and no way of getting withdrawals easily. They keep telling you lies and not listening to solve your problem at all.

Instead, it offers forex, stocks, futures, CFDs, bonds, funds, and futures spreads. As per our Saxo Bank review, this broker offers a demo account. This mode is very useful for the trader, and the traders are offered paper money.

Saxobank Platform

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Both of Saxo Bank’s trading platforms are available in mobile versions, although they’re essentially just stripped-down versions of the main web app. I think it’s one of the best trading platforms I’ve had the pleasure of testing out, and I’d say that it’s even better than MetaTrader4, which is the industry leader. As I mentioned earlier, the minimum deposits at Saxo Bank are very high, and I think it’s clear they’ve chosen to focus on the more experienced traders as opposed to beginners.

Εxpensive commissions, not accurate trade transactions and more. If you have a big account they give you priority to your support. At the beginning they used to send me a Christmas Card, I had phone calls from my “personal banker”. But after loosing 60% of my capital, they never continued the contact they had.

Minority shareholders, including current and former employees, hold the remaining shares. This broker did not score well during our testing process and is not recommended by our experts. We strongly suggest choosing a broker that has gained a high score through excelling in all departments instead. To learn more about how we test and recommend brokers, read our methodology.

Deposit And Withdrawal

If you’re located outside of the UK, the account options available to you may differ. Their services are so bad, signals are delayed and transactions are slow, lost so much because of them. The courses are incredible for amateurs to get familiar with the nuts and bolts and get acquainted with the accessible resources.

Filter according to broker or product type, including stocks, futures, CFDs or crypto. This offers a significantly better mobile trading experience, although again, the minimum deposit and trading requirements are likely going to be a turn off for newer traders. Using the demo account, you’ll be able to trade via the online broker’s SaxoTraderGO and SaxoTraderPRO trading platforms, both of which are pretty good, as I’ll cover below. All account types offer a wide variety of investment options, including forex currency pairs, bonds, stock CFDs, stock indices and more.

How do I open a Saxo account in Singapore?

How do I open an account? It’s quick and easy to open a Saxo account. If you’re a Singaporean or resident – permanent or otherwise – you can complete our simple online form using your Singpass details, by applying via Myinfo, to get started in a few minutes.

The third and the final type of the account is the Platinum account and the minimum deposit for this account is $500,000 and it provides all the features mentioned before for the other two types of accounts. Additionally, this type of account also provides the features of individual pricing, FX Options tight as the interbank spreads as well as the preferred options of the customer services. To conclude the review, we can say that Saxo Bank offers easy to use trading platforms by offering more than 35,000 trading instruments where the trader can access them easily. Some of the platform’s features like research, educational offering, analysis, and great customer care are worth mentioning advantages, which are helpful to both new and experienced traders.

  • In the beginning of 2016, Saxo Bank launched SaxoSelect, a new digital investment service.
  • I have had two tickets open regarding dividends that were not credited to my account.
  • As per our Saxo Bank review, we can say that this broker provides a vast choice of educational materials and also offers trading courses that focus on futures, bonds, CFDs, equities, forex and options, and several more.
  • Saxo provides mutual funds only in specific countries, such as Germany, Poland or Denmark.
  • Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services.

Saxo has four primary types of accounts, specifically Classic, Premium, Platinum, and VIP. The bank’s headquarters is in Copenhagen, Denmark, and it has figured out how to separate itself to become one of the main retail brokerage innovators in Europe. Saxo Bank has also sponsored reprints and distributed several books; including Ayn Rand’s novel Atlas Shrugged, which the bank retranslated into Danish and distributed 10,000 copies .

Saxo does not charge when the trader connects to third party platforms. Saxo Bank offers over 35,000 tradable instruments, and the trader can invest in asset classes as per their choice. Broaden your horizon and use skyhighlimited asset for your cryptoinvestments. They make sure you receive timely profits, keeping your investment safe. A very reliable source of high income, while minimizing any possible risks and offering a high quality service.

Saxo Bank’s FX average volumes have fallen to $11.7 billion, which is more than 20%. It is the second month in a row that the volumes are falling and also the lowest since December 2017. Saxo Bank is a fully licensed and regulated Danish bank, based in Copenhagen. Saxo Bank traders can benefit from the tight-spreads and low commissions through real time quotes for currency pairs and other instruments, e.g.