{ "name": "Justin Grossbard", To have a clear overview of Saxo Bank, let's start with trading fees. as Best forex broker and Best trading platform in web, mobile, and desktop for 2021, based on an in-depth Read our in-depth Saxo Bank review before start trading. At Saxo Bank, you can choose from 26 base currencies. It offers a user-friendly and well-designed trading platform, backed by great research. commission, with no additional cost to you. We fully disclose our dealing practises and never trade against you in the market. STAY AWAY. Check out the annual BrokerChooser Awards. Both Saxo trading platforms don’t require subscription costs with the PRO platform recommended on desktops with multiple screens, while the GO account is for everyday traders. The minimum deposit varies depending on your residency and the account type you choose. Now, let's see a breakdown of the different asset classes. SaxoBank offers the SaxotraderGO and SaxoTraderPRO forex trading platform., Home.Saxo … This matters because the amount of protection you're eligible for differs from entity to entity. For Saxo retail clients: 30:1 for forex trading and 20:1 for CFDs trading. Other share related services are over 3,101 ETFs, ETCs and ETNs and they also offer over 1,200 listed options. "itemReviewed": { This catch-all benchmark includes commissions, spreads, and financing costs for all brokers. This is called negative balance protection and should be considered if your risk tolerance is low. This account has entry prices which beat other leading forex brokers when it comes to spreads as shown below. To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. Trading Platform: Saxo Bank hosts 2 types of platforms, the Saxo Trader Pro (desktop) and Saxo Trader Go (web based). Justin has a Masters, Honours and Undergraduate degree in Commerce at Monash University. The broker has been in business since 1992 and it was originally started as an investment bank … For example, you can narrow down stock search results to specific countries, or filter forex search results for major currency pairs. Saxo's account opening is fast and fully digital. Please note that you can only deposit money from accounts that are in your name. However, you can also use other, third-party platforms for trading or managing your portfolio. By continuing to browse you accept our use of cookies. Mutual funds were only recently added to Saxo's product portfolio. To test the deposit process, we sent money from our Revolut account and it arrived instantly. Compare the best UK Forex brokers regulated by the Financial Conduct Authority (FCA) here: Top 10 FCA Regulated Forex Brokers. "bestRating": "5", Saxo clients have access to a wide range of stock markets. For data on other stocks, you have to be a subscriber. Copyright 2021 and all rights reserved. You can only withdraw money to accounts in your name. Similarly to options, Saxo Bank covers a lot of futures markets. There is no live chat customer support or 24/7 availability. In addition, there is a trading signal tool, which gives you a buy or sell signal based on technical indicators. A key Saxo Bank feature is its customised orders offering. Check the minimum deposit requirements for Classic accounts in different countries in the following table: Saxo Bank offers three account types for UK residents (account types might differ in other countries): With Platinum and VIP accounts, you can enjoy more favorable pricing structures and have your own dedicated contact person. With its headquarters in Copenhagen, Denmark and 15 main offices that include Switzerland, UK, Paris, Hong Kong or Dubai, the Danish company can serve professional traders and retail investors from more than 180 countries. While higher leverage increases exposure to markets and increases risks of CFDs and forex trading, it can be a core requirement of a trader. How long does it take to withdraw money from Saxo Bank? Premature stop-outs are one of the most complained features of other forex brokers and a key positive found in this Saxo Capital Markets Australia review. The bank provides complex and conducive services through its trading platform. Both DEGIRO and Swissqoute offer fewer currencies. information. SaxoSelect is a robo-advisory service where you can select an investment theme and let Saxo build a portfolio for you. Futures fees are mostly the same as options fees, the only exception being CHF, where the fee is CHF 8 for futures, double the rate charged for options. The easily customizable platform meets the needs of both novice and professional traders. ... Its trading platform is known for its top-quality trading tools and for having some of the lowest fees when it comes to global share trading… Our recommendations and rankings are based on our If you are not familiar with the basic order types, read this overview. Platinum and VIP accounts have lower fees (0.10% and 0.05% with a minimum of €60 and €50, respectively). There share trading offering won “Outstanding Value International Share Trading” in both 2017 and 2018. Interest will be charged at market ask rates plus 8% when delays occur in repayment. The minimum deposit is relatively high, ranging between $600-10,000, depending on your residency. Saxo Bank is a Danish company founded in 2012; Broker. The most popular trading platform among retail traders, the MetaTrader 4 platform is not supported by Saxo Capital Markets. Saxo's Platinum and VIP accounts have a more favorable pricing structure. Breaking down the three accounts further: As mentioned above, the minimum funding required of the classic account is $10,000. "name": "Saxo Capital Markets" By trading with securities and derivatives you are taking a high degree of risk. You can trade on major markets, such as US stock exchanges or Deutsche Börse, and on smaller markets like the Prague Stock Exchange or the Warsaw Stock Exchange. This review is aimed at giving a detailed description of Saxo Bank as a brokerage company. Based on our findings, you can contact Saxo Bank via: An extensive language selection is available not only on Saxo's trading platforms but also in customer support. Saxo's phone customer service is available only from Monday to Friday between 9:00 am and 5:30 pm local time in 16 offices worldwide. You can add multiple base currencies to your main account - to add a new one, initiate an automatic sub-account creation in the desired currency. Yes, Saxo Markets is considered a safe brokerage trading firm by all industry standards. This allows the trader not to have to manually calculate exit/entry points and watch the market actively. (apart from some appalling stock choices, but I can´t blame Saxo Bank for that) I specially like the SaxoTraderPRO platform … In this review, we tested Saxo Bank UK. While our Saxo Capital Markets Australia review found that leverage was relatively low, this doesn’t mean that trading doesn’t have risks involved. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. However, customizability has its limits; for example, you can change the size of various tabs but not their relative positions. The Saxo Group is a multi-asset trading and investment organization with over 25 years on Fintech innovation, a fully licensed regulated European bankunder the supervision of Danish FSA. We also compared Saxo Bank's fees with those of two similar brokers we selected, Swissquote and DEGIRO. } ], "reviewRating": { He has worked with some of the largest insurance and banking organisations both in the United Kingdom and Australia. SaxoTraderGO is a great platform; two features we would particularly highlight are its modern design and user-friendliness. What’s unique about Saxo offering is its quizzes, which can assist traders to track their progress. In our Saxo Capital Markets review, we only found that forex traders can make a deposit or withdraw funds from the Saxo Bank account via the following methods for transferring money: Additionally, Saxo Bank supports a limited range of funding currencies. Overall, traders have access to over 19,000 shares overseas across 36 exchanges. For short-listed options, the funding rate used for calculating the carrying cost is based on the relevant Interbank rate + a markup of 1.5%. Our devoted team of investment and business professionals believe that a full Saxo Capital Markets review must include the full spectrum of the online service offered by the Danish broker. They offer share trading in Australian, USA, UK, Singapore and even Chinese stocks. "worstRating":"0" This platform has won Saxo Capital Markets awards based on reliability, execution speeds, and functionality across devices. Custody fee is a Value Added Tax (VAT), Proof of identity: national ID card / passport, how you are protected if something goes wrong. The interactive chart function is great and user-friendly. Summary Of Saxo Capital Markets Trading Platforms Our Saxo Capital Markets Australia review found it was strong in this category but lost points for the lack of mainstream … Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. What you need to keep an eye on are trading fees and non-trading fees. Saxo Bank’s account opening is fully digital, user-friendly, and available in most of the … "headline": "Saxo Capital Markets", Everything you find on BrokerChooser is based on reliable data and unbiased Saxo Capital Markets processes all withdrawals the next business day without any additional withdrawal fee. The trading cost of these is 0.1% of the trading volume plus a SEK 65 minimum fee for a Saxo Classic account. In this Saxo Bank review, you’ll find everything you need to dispel any doubt, including our feedback on Saxo Bank, both practical and technical, after years of experience on the platform. "author": [ Both are developed by Saxo. No question, Saxo Bank's proprietary trading platforms SaxoTraderGO (web) and SaxoTraderPRO (desktop) are terrific, thanks to their streamlined designs and robust trading … The fee is charged if you only hold cash funds in your account. The quality of these videos is outstanding. Saxo's search functions are great. But if you don’t like funds tied up any account, then you should consider other forex brokers who have a minimum deposit as low as $50. Overall, our Saxo Capital Markets review concludes that the Denmark-based forex broker offers all the trading tools and a wide range of financial products to accommodate the needs of all types of traders. They also offer low spreads and fees, making them a low fee share and trading solution. I selected Saxo Bank based on good score in trading platform reviews on the internet. If you earn a certain number of points, you can upgrade to a Platinum or VIP account. From stocks to CFDs, you will find everything. Retail investors can start trading and invest in the financial markets knowing that Saxo Bank complies with the high standards imposed by the local Danish regulatory agency the Financial Supervisory Authority (FSA) as well as 12 other global regulatory bodies, including: Saxo Bank gives its clients access to world-class education material that caters to beginner traders as well as professional traders. This is then converted to a buy/sell level which will be triggered automatically when achieved. Yes, it is regulated by several financial authorities, like the Danish Financial Services Agency (FSA), the Financial Conduct Authority (FCA) and the Swiss Federal Banking Commission, among others. You can also check the Best ASIC Regulated Forex Brokers For Australian Traders if you fall under this jurisdiction. ... We launched one of the industry’s first online trading platforms… Other expert traders want the exposure to the market to maximise returns at during key trading periods. ... Review the margin requirements for leveraged trading. 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 … Fact checked. The fees for bonds, options and futures are high. The total number of these assets exceeds that of competitors. Analyst consensus and target price information are also available. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients. "datePublished":"2020-01-03", analysis of 70+ online brokers that included testing their live accounts. GBP 500 is the minimum deposit at Saxo Capital Markets. We analyzed the fees of Saxo Bank UK. It is also easy to track Saxo Bank's financial performance through its disclosures and we really liked the Enhanced Disclosure, which is a big plus for transparency. Although the fee structure differs among various account types, it is transparent and you can easily calculate costs. BrokerChooser.com does not provide any investment advice, we only help you to find the best broker for The key areas of this Saxo Capital Markets review were on their currency trading offering. At the same time, true to the 'PRO' tag, the desktop version offers more advanced customizability. Saxo offers three trading accounts including classic, platinum and VIP. For example, a currency pair such as the AUD/USD rarely changes by more than 0.5% a day. Saxo's bond selection is competitive, much better than DEGIRO's but trailing Swissquote's. Saxo is recommended for anyone looking for an all-in-one trading solution. A guaranteed stop-loss order is exactly the same amount as above, but the forex broker guarantees the exit level. }, You can trade on major stock exchanges such as the CBOE or Euronext, but you will also find lesser-known ones like the SEHK. We tested withdrawal via bank transfer and it took 1 business day. You can choose from different portfolios and trading strategies based on your risk appetite. Below you can review the different types of CFD trading commissions charged across the 3 main Saxo trading accounts. Saxo uses a wide range of ‘tier 1’ banks and other sources from market-making firms to ECNs to ensure traders receive the best possible price. The leading forex broker comparison site, Compare Forex Brokers Pty Ltd is an Authorised Representative of Guildfords Funds Management Pty Ltd Australian Financial Services Licence No. This leads to real benefits on a large number of currency trades through the Saxo forex trading platform. Inactivity in this case means not executing at least one trade. We use cookies to ensure you get the best experience on our website. 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