Saxo Review

Ranking

#10

Minimum Deposit:

$10,000

Max Leverage:

1:20

Phone : +44 (0)207 151 2000

Overview

Saxo Bank is a Danish investment bank founded in 1992. They are highly regulated by several financial authorities, like the UK Financial Conduct Authority (FCA) and the Danish Financial Services Agency (FSA).

Account Types

There are three account options:Classic account with $10,000 minimum deposit, Platinum account with $200,000 and VIP with 1 million minimum funding.

Trading Platform

Saxo Bank provides their customers with their own trading platforms SaxoTraderGO and SaxoTraderPRO.

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  • Max levarge – 1:20
  • Minimum deposit – $10,000
  • Spreads From – Spreads From – 0.4 PIPS

Overview:

Saxo Bank is a Danish investment bank founded in 1992. They are highly regulated by several financial authorities, like the UK Financial Conduct Authority (FCA) and the Danish Financial Services Agency (FSA).

Subsidiaries of Saxo Bank are located all over the world and their services and trading conditions may slightly vary depending on country.

Saxo Bank due to long positive track record is considered to be safe. It also has a banking background and is regulated by top-tier financial authorities.

Account Types:

There are three account options: Classic account with $10,000 minimum deposit, Platinum account with $200,000 and VIP with 1 million minimum funding.

Trading Platform:

Saxo Bank provides their customers with their own trading platforms SaxoTraderGO and SaxoTraderPRO. SaxoTraderGO is an award-winning trading platform with professional-looking design. This platform offers an extensive list of advanced features including an innovative risk-management features. SaxoTraderPRO is a professional fully customizable trading platform. It has a wide range of high-performance tools to manage and execute orders, with in-depth market analysis features

Deposit & Withdraws:

Saxo Bank provides two deposit and withdrawal: with a bank transfer and credit or debit cards. Both is commission-free.

Markets:

Saxo Bank provide access to wide range of trading instruments, such as main Currency pairs, Index-, Stock-, ETFs -, Commodity -, Forex -, Bond – and Options CFDs

Customer Support:

Saxo Bank has client support in many languages via phone and Email. There is also a chatbot, which can answer some basic questions similar to FAQ, but can’t answer any specific queries. Saxo’s phone customer service is available only from Monday to Friday, provided between 9:00 am and 5:30 pm local time by 16 offices worldwide.

Safety:

Plus500 is listed on the London Stock Exchange and is also regulated by leading financial institutions around the world, such as CySEC in Cyprus; FSCA, FMA, ASIC in Australia; FCA in the UK and MAS in Singapore. In the unlikely event that Saxo Bank suspends its payments or goes bankrupt, client deposits are guaranteed by the Fund in the amount of up to EUR 100,000 for cash deposits. As a general rule, securities are not affected by suspension of payment or forced liquidation, and they are returned to the client. In the event that a Saxo Bank is unable to return securities held in safe custody, administered or managed, the Guarantee Fund will cover with up to EUR 20,000 per client.

Final Thoughts:

Saxo Bank is a great broker providing a good service. They offer a very convenient trading platform, and their wide range of products covers most types of assets. The biggest drawback is the very high minimum deposits and commissions for trading bonds, options and futures. Also there is no 24/7 customer support. Overall, Saxo Bank belongs to one of the best online brokerage companies and should definitely be considered, especially by professional traders.