However, guaranteed stop-loss protection is not available, exposing accounts to potentially catastrophic losses in extreme market conditions, like the 2015 Swiss franc currency shock. Basically, Saxo Markets offers just about any research a client would require in order to make an informed trading decision. The catalyst was most likely the Swiss National Bank event of Jan. 15, 2015, that roiled the markets, especially the highly leveraged retail FX market. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.

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”. 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.

Account Holders benefit from Highly Competitive Pricing

Overall, Saxo Bank’s investment platform is a great choice for investors who want access to a wide range of investment products and advanced trading tools. The platform is user-friendly and provides excellent customer support. Saxo Bank is a brokerage platform that was founded in 1992, and as the Saxo Bank reviews show, it was originally named Midas. In 2001, the broker got a license from the FSA which is the Danish Financial Supervisory Authority.

Saxo Bank Capital Market is a highly regulated investment platform. The traders must submit some of the identity documents that include a valid government-issued ID, that can be either a driver’s license, passport, or national identity card. They also need to prove their residency status; this requires documents like a bank statement, tax statement, utility bill that needs to be submitted to the broker for verification. This bank offers a wide assortment of more than 1200 options that can be traded on several international exchanges, which comprises energy, equities, metals, and several more. It offers a wide variety of ETFs, CFD, futures, options, exchange-traded commodities, and several more in commodities.

Opening an Account

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. When I asked when my positions will be closed (for example at 110% or 120% etc) I never got a specific and clear answer. Trade CFDs, Forex pairs, Stocks, Bonds, Crypto FX, Commodities, Futures, Forex Options, Listed Options, ETFs, and Mutual Funds.

saxo bank broker reviews Bank provides access to a broad range of mutual funds from a variety of fund providers. Traders can choose from a diverse selection of mutual funds across different asset classes, investment styles, and regions, with low fees and competitive pricing. They also provide extensive research tools to help traders make informed investment decisions. Saxo Bank offers credit and debit card deposits as well as wire transfers. The process is handled entirely from inside the trading platform. Withdrawals are handled free of charge through the Online Cash Withdrawal Module, unless a manual funds withdrawal form is submitted which is subject to a $40 charge.

Is Saxo Bank good for equity trading?

Saxo Bank sets a very high standard when it comes to offering asset classes. Offering + instruments with optimized liquidity and reasonable prices. After a detailed review of Saxo Bank, we can conclude that the company is highly regulated by many reputable financial institutions which makes it a trustworthy option.

Apart from that, the standard £8 minimum charge per trade is average at a push when compared to competitors such as IG and Interactive Brokers. Traders can also trade CFDs on over 9,000 products, including stocks, indices, and commodities, to name a few. Saxo Capital Markets is a global service provider with clients across 170 countries, offering trades forex, CFDs, stocks, futures and ETFs. 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.

In order to verify your identity, you need to provide the broker with a photo of your ID, driving license, or something similar. The Classic account is the starter account and the fees and conditions improve as you go from Classic to Platinum and on to VIP. Trading actual coins might be more expensive than trading crypto CFDs as many more orders are placed in the CFD market. When liquidity is decreased in the markets, the distance between bid and ask prices increases. Spreads are the difference between buying and selling price of an asset and pip measures the smallest whole unit price move on the markets. The compensation fund works like financial insurance for investors.

As an active trader you can also qualify for lower fees and extra benefits. Saxo Bank offers several educational tools that can be seen on the platform through its tutorials. It also offers several resources and extensive analysis, but this broker offers no technical or fundamental analysis. This broker allows the traders to set up several customized alerts where they can receive trade signals through their email or mobile phone. Some of them include price alerts, showing a notification when the positions are about to open and close.

Compared to other top https://forexhero.info/ brokers, it does not charge any fees for withdrawal if they are submitted through an online cash withdrawal module. If the traders are using a manual fund withdrawal form, Saxo Bank charges a processing fee of $40. Besides, withdrawals can be made through a bank account in the same name that is listed on the trading accounts.

The grain market awaits key reports on stocks and planting intentions.

Educational materials focus primarily on platform and product tutorials and introductory coverage of fundamental and technical analysis topics with few skill-building resources. Then again, that fits with what appears to be Saxo’s unstated goal of attracting advanced, well-funded traders. There is no glossary, at least in the widely accepted definition of that term, adding another obstacle for lower-skilled traders. There is, however, a Frequently Asked Questions page that is functionally adequate.

A true global brokerage with an outstanding multi-asset selection, traders have over 35,000 assets to trade across eight asset classes. While Saxo Bank is definitely geared towards more sophisticated traders, professionals and institutional clients, retail traders can get in with a relatively small deposit of just €/£500. Traders will classic trading accounts also have access to all the trading platforms.

They also offer a demo account, auto trading, tax accounting tools, and streamlined retail investor accounts. EToro has Forex options and a multi-asset brokerage platform that offers online forex trading services to traders and investors worldwide. Forex brokers buy and sell different currencies with the aim of profiting from changes in their value relative to one another. Forex trading is a highly leveraged activity, meaning that traders can make large profits with a relatively small amount of capital.

Besides, the minimum amount to deposit varies depending on the account type the trader chooses and the residing country. For example, for Middle Eastern or Central European clients, the minimum deposit is $10,000, and for Australian and Swiss clients, they need to deposit $2000. Considering the account minimum, the classic type needs a deposit of 500 pounds, and we can say that these brokers do not charge any fees for deposits and withdrawals.

The traders are also offered expert news and market analysis on their phones, and they can sync their settings over several devices. Concerning charting, it offers 17 drawing tools and 49 technical indicators. By providing this customization, it lets the traders easily identify good trading opportunities and efficiently trade. SaxoTraderGo provides traders an easy to use interface, it is highly advanced, and the watchlist is seen clearly. One of the major highlights of this trading platform is that it is simple and fast, considered a major advantage.

• Higher account types will require more money at the start, $200,000 for Platinum and $1M for a VIP account, which concludes Saxo Bank as a true broker more suitable for professionals and bigger-size traders.
• Saxo Bank Fees are ranked average, low with an overall rating of 8.5 out of 10 based on our testing and compared to over 500 other brokers.
• In stocks, it offers an exhaustive selection of more than 19,000 stocks traded in several international exchanges, which also includes emerging markets.
• Saxo Bank is incorporated in Denmark as a licensed bank under the number 1149 which makes it regulated under Italy, the Czech Republic, and the Netherlands.
• They offer managed portfolios, the Saxo Bank website is simple to navigate, and offer education including trading ideas, trading CFDs, and follow negative balance protection rules.
• Website, outlining conflicting fees and trading conditions for identical products and position sizes.

This only applies to retail clients- institutional clients are not covered. Our team of industry experts conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels.Click here to read our full methodology. 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.

The brokers top class execution and Tier-1 liquidity gives higher fill-rates, fewer premature stop-outs and significant price improvements. You can access more than 3,000 ETFs from 30+ exchanges around the world with ultra-competitive ETF commissions. You can also use a chatbot, which is like an intelligent FAQ section. It gives relevant answers to basic questions like “what is the inactivity fee?”, but can’t answer more complex queries.