Saxo Bank review by Forex Peace Army Stay out of trouble- read reviews.

Get support for technical matters and account queries whenever markets are open. Access our self-service support centre, email helpdesk and a range of educational courses. See a full list of our FX margin rates for Retail clients as well as our FX margin rates for Elective Professional clients.

Offers complex orders types and account protection features to seamlessly manage risk. I am very happy with the platform, pricing, answers to my requests. I am also very happy with the professionalism and the effectiveness of my account manager.

CMC Markets: Best Overall and Best for Range of Offerings

If you are on winning side you will see enormous spreads which keeps you winning in a minimum, remember you win they lose. Finally I have moved my money to a different broker which have lower commissions and better support. Web disclosures include company procedures to ensure the best executions possible, underpinned by a broad range of direct market access , aggregated, and in-house liquidity providers. Basically, Saxo Markets offers just about any research a client would require in order to make an informed trading decision. Saxo Markets is regulated by the Financial Conduct Authority (FCA No.551422), which is one of the main regulatory agencies in the U.K. This website is using a security service to protect itself from online attacks.

The user has the option of utilizing up to six screens to take advantage of the advanced workspace management that this platform has to offer. Multichannel linking between modules and a robust charting package with «a comprehensive suite of annotations, drawing tools, and over 50 technical indicators» can greatly aid the trader in their analysis. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

User Reviews

Saxo has an impressive roster of in-house analysts who provide regular market updates, ratings, and timely commentary. SaxoTraderGO doesn’t offer all the bells and whistles that SaxoTraderPRO does but is equally impressive. The main advantage it has over its «big brother» is that it’s far more accessible.

All data is in real time so that the trader can make an informed decision. Investopedia’s ranking algorithm factored in this broker’s extensive product catalog, advanced user interfaces, and its superior research offerings in recognizing Saxo Markets as the Best Forex Broker for Advanced Traders. In essence, Saxo 24 FX is not regulated by any governing body. Our main reasons for assigning a high safety score to Saxo are its banking license, regulation by top-tier authorities and regularly disclosed financial data. Investors trade in the forex markets as a hedge against international currency and interest rate risk, as a means to speculate on geopolitical events, and to diversify their portfolios, among other reasons. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners.

On the company’s profile page at our website you can saxo forex broker saxo bank reviews by other traders as well as write your personal saxo bank review of your personal experience with the broker. To add a review in this rating you need to login to the site. Saxo Markets’ dedication to providing clients with a plethora of timely and informative research is commendable. Access to this section alone might entice a serious trader to open a live account with this broker. Research materials are accessible through the website or directly through the platforms.

How much does it cost to open a Saxo account?

The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. Our team of industry experts conducted our reviews and developed this best-in-industry methodology for ranking online platforms for users at all levels.Click here to read our full methodology. The forex markets exist as spot markets, as well as derivatives markets, offering forwards, futures, options, and currency swaps.

We are committed to the fair handling of reviews and posts regardless of such relations. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. I have had two tickets open regarding dividends that were not credited to my account. In the digital world, where everything is expected to be at and reliable, SAXO bank still living in the ’80s.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information.

To deliver on this successfully, IG has adopted the time-honored adage, «go big or go home» because it can. Low spread costs, an emphasis on customer service and education, actionable research, and functional user interfaces make this broker well-suited to compete in the online forex broker market. Commission and spread disclosures are often contradictory, with different prices quoted for similar or identical instruments and venues. However, for a sophisticated, well-funded market professional, Saxo would be quite attractive.

About 75% of retail investor accounts lose money when trading CFDs with this provider. Saxo Bank best suits advanced traders and investors who need powerful trading tools. Its trading platforms rank among the best in the Forex world.

Saxo Bank summary

Saxo Bank delivers access to over 60,000 instruments, including crypto derivatives , micro-futures and forex options. With Saxo you get a transparent pricing structure and a secure and regulated trading environment. As an active trader you can also qualify for lower fees and extra benefits. Access a wide range of investment options, intuitive trading tools and market insights to help you execute your trading strategies. At Saxo, we provide full electronic access to trade FX forward outrights and FX swaps in 130+ currency pairs with maturities from 1 day to 12 months. I opened with Saxo as they have a multi product platform but their execution on fx markets is always requoted and quite many problems placing stops.

• Additionally, Saxo offers clients the option to build bespoke applications via APIs, both its own OpenAPI and third-party API (Excel, etc.), that can access Saxo’s data feeds.
• Saxo Bank delivers access to over 60,000 instruments, including crypto derivatives , micro-futures and forex options.
• This matters because the regulator and the amount of investor protection you’re eligible for differs from entity to entity.

We found that even minor languages like Hungarian are supported. If you want ot dig deep into Saxo’s fees , you can check them in this article. If you are not ready yet to open a live account, you can start by experimenting with their demo account. After approval, you have to fund your account to have it activated even though Saxo doesn’t clearly communicate this requirement. Funding can take 1 to 5 business days depending on the deposit method.

To protect you from being stopped out early, we trigger stop orders on the opposite side of the https://forexhero.info/, based on a neutral price from a primary inter-bank venue. To provide you with the best price possible, we derive our prices from a broad range of Tier 1 institutions. These include banks, ECNs and market-making firms with unique liquidity.

How do I deposit money at Saxo Bank?

The Saxo Bank mobile trading platform, SaxoTraderGo, is compatible with both iOS and Android devices. Despite the fact that it’s not as professional as the desktop version – the fundamental data and Saxo Select aren’t included – SaxoTraderGo is still good enough for you to trade on the go. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

Saxo Bank has operated in the United Kingdom since 2006 through its subsidiary Saxo Capital Markets U.K. Ltd. and, like many forex brokers, it doesn’t accept U.S. traders. Saxo Markets offers access to third-party portfolio tools , and external tax reporting and reclaim services can be requested from third-party provider GlobeTax. All clients have access to a comprehensive reporting suite directly in the trading platforms. The provided reports facilitate tax reporting by displaying performance, profitability, dividend, interest income, and fee data in both PDF and Excel formats. To compare the trading platforms of both Saxo Bank and FOREX.com, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found Saxo Bank to provide better mobile trading apps.

This would be a red flag were it not for the fact that the company is regulated by the FCA which, along with U.S. regulatory agencies , is widely considered to be the leading regulatory body. Saxo provides clients with a guarantee that they will never lose more than they have in their accounts via the negative balance protection rules mandated under ESMA that went into effect in 2018. Trade tickets include necessary information such as margin requirements and allow the user to select the unit to set stop-loss and take-profit orders.

Each platform’s order ticket has five basic order types with the option of attaching «take-profit» and/or «stop-loss» orders to them. Additionally, the trader can choose to make the stop-loss order a trailing stop-loss or a stop-limit. The one omission to an otherwise impressive array of order types is the lack of a guaranteed stop loss order. This might deter the novice trader, but an advanced trader would understand that guaranteeing a stop-loss order defies market dynamics. The brokers that do offer this feature are essentially admitting that they will absorb the excess losses that can occur in certain market conditions. SaxoTraderPRO is a fully customizable desktop interface that traders can download on Windows and Mac operating systems.

As a Saxo Bank client, you can trade on both your PC and mobile devices. SaxoTrader can also run on browsers, with the interface running consistent to that of the desktop version. Steven Hatzakis is the Global Director of Research for ForexBrokers.com.

Stock and ETF fees are average and they charge an inactivity and a custody fee, which is not ideal for buy and hold investors. Saxo Bank usually activates newly opened accounts in 1 day. Saxo’s account opening is fully digital, user-friendly and the broker is available in most countries. However, the minimum deposit is high in certain countries ($500-$2,000). CMC Markets , founded in 1989, is a well-established, publicly traded, and highly regarded U.K. Forex broker that has successfully adapted to the ever-changing online brokerage landscape.

As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience. The firm’s fees are competitive within the industry and it ranks high on our list for customer service. With these positive attributes along with its apparent focus on functional simplicity, LCG is well-suited to beginning traders. Although you don’t have to be a beginner to benefit from its offerings, LCG is hard to beat if you are just starting out.