Saxo Markets Review: Live Trading & Opinion

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Once Saxo Bank approves your accounts, you will have to fund the account so that you can start trading live. The process of funding might take around one to five working days depending upon the method of payment of financing. Opening an account with Saxo Bank is easy and completely digital, hence user-friendly. Online registration on this platform hardly takes 10 to 15 minutes. If the trader has an account in China 2,000 Renminbi has to be deposited.

Since Saxo Bank offer clients a full range of assets, financing is dependent on the type of asset traded. In order to make the pricing model transparent, clients can access the full range of pricing online where this broker has created a well-organized tool on their website. This makes it simple to navigate complete pricing for each asset class. Overall, I am blown away with what the broker has to offer to be honest. They really excel in so many areas to the point where I would probably say you should only consider them if you are a professional day trader.

  • Saxo Bank traders can deal in both big and small stock markets/exchanges.
  • Thank you for your feedback, I’ll look into why this error happened for the 2nd time.
  • Furthermore, Saxo Bank is a member of the Danish Guarantee Fund and all client funds are kept in segregated accounts.
  • In addition to two-factor and biometric authentication, the user gets logged out of both the web-based and mobile applications if they are not using it for a specific period of time.
  • Thank you for taking the time to leave this glowing review of our colleague Fermin.

Saxo offers up to date research, news and commentary from SaxoStrats, its in-house team of experts. Saxo bank is considered low-risk and is authorized by six tier-1 regulators, one tier-2 regulator, and no tier-3 regulators. Saxo is considered safe as it is fully regulated, adhering to strict regulatory criteria across, as we mentioned above, 15 different jurisdictions, including the UK, Denmark, Singapore and Australia. The broker operates under Saxo Group, and is a subsidiary of Saxo Bank, along with 9 other legal entities. However, while Saxo Capital Markets is a broker, Saxo Bank has a banking licence, which makes it different from a broker. Below given are the step by step process the trader needs to undertake to get started with Saxo Bank.

Minimum Initial Deposit

In this review, we’ll discuss everything you need to know about Saxo to make an informed decision about trading with them. Yes, Saxo Markets is regulated by the FCA and your funds are protected by the FSCS. Saxo Bank allows trades in both government and corporate bonds and the range goes up to 40,000 bonds.

The mid FX spot rate +/-1 percent is used to compute the currency conversion rate. Yes, Saxo Bankis a member of the Danish Guarantee Fund and all client funds are kept in segregated accounts. Yes, Saxo Bank is a trustworthy and regulated broker with over 30 years of experience in the industry. Overall, Saxo Bank can be summarised as a trustworthy and regulated broker with over 30 years of experience in the industry.


If the trader chooses a bank account, they need to wait for 3 to 5 working days for the funds to be reflected in their account. 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 offers over 35,000 tradable instruments, and the trader can invest in asset classes as per their choice. 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’s software security is aligned with the best that the industry has to offer. In addition to two-factor and biometric authentication, the user gets logged out of both the web-based and mobile applications if they are not using it for a specific period of time.

How do I start using Saxo Bank?

Has a stringent data validation process that ensures a minimal error rate with each trade that is executed on its platform. It has over 860,000 clients with 120 partners who place around 125,000 trade/day. Email answers were usually received within one day, although they weren’t always correct. It offers in-house information, such as daily updates in the Market Analysis area, and third-party content, such as news headlines from sources including NewsEdge, Dow Jones, and RanSquawk. TradingView, MultiCharts, Update, Dynamic Trend, and OpenAPI for Excel are just a few of the third-party platforms that Saxo Bank supports.

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These are just two of the ways in which Saxo protects the trader’s interests. Saxo offers both leveraged products as well as investment products to its clientele. In the event of a dispute, regulated brokers must have processes for resolving disputes with clients. Regulated brokers are also subject to higher standards of conduct and must follow best practices in the industry.

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Additionally, algorithmic trading orders can be fully integrated upon activation. Subscription-based tools, such as “depth of market” and “time and sales” data, are available and can prove to be value-added features. Documentation for other regions that Saxo Markets operates in was often contradictory to what was listed on the U.K. Website, outlining conflicting fees and trading conditions for identical products and position sizes. It is also easy to miss fine print that adds a separate surcharge on small trades, raising the potential for confusion. Saxo Markets’ trading costs are either included in the spread, which is primarily how the broker generates revenue, or added as commissions, which are on par with industry standards.

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Saxo Bank Spreads are ranked low with an overall rating of 9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower, and spreads for other instruments are very attractive too. Saxo Bank Leverage does not support high-risk trade strategies for the traders’ good.

Spreads 💸

Its website has no live chat functionality, and online chat is only available to funded accounts. Chatbot functionality is available, but Saxo might be better off if it weren’t. Prospective clients usually test out a broker’s offerings via a demo account, and not having access to live chat is a glaring omission.

financial services

Points earned depend on the asset class and size of the transactions. You also earn points for adding funds to your account, attending seminars or webinars or referring friends to trade with Saxo Bank. No, Saxo Bank does not offer an Islamic swap-free live account to clients of the Muslim faith under Shariah Law. Muslim clients need to ensure their positions are closed before the end of the trading day.

Managed portfolios imply that an experienced team of professionals from Saxo Bank will purchase and sell assets on the customer’s behalf. By offering no lock-in period on these managed accounts, the trader can withdraw their funds anytime. Saxo Bank is a well-established broker that provides a comprehensive trading experience, with extensive market access, advanced tools, and educational resources for traders of all levels.

Saxo Bank Review – Analysis of Brokers’ Main Features

Saxo Bank accepts several major currencies, and there are no conversion fees if the trader’s deposit currency matches their account location. If the trader resides in the UK and they deposit their money in GBP, there are no conversion charges as well for traders. However, Saxo Bank does not offer guaranteed stop-loss protection, which exposes potential losses in extremely volatile market conditions. Saxo also takes steps to ensure that client funds are not co-mingled with corporate funds, in accordance with the U.K. This ensures that client assets are protected in the unlikely event that Saxo becomes insolvent by holding those funds in segregated accounts at regulated banks.


Also, if you feel that some things weren’t clear when it comes to the brokerage world, no worries. You can find our articles in the Education section of our site. 0.25% of open positions with a minimum of €5/month for most other countries.

Saxo Bank Forex Broker

Each portfolio consists of a collection of assets, investment strategies and managers. Access 19,000+ stocks across core and emerging markets on 37 exchanges worldwide, with the same Saxo Account. The prices are very competitive, you can trade stocks from USD 3 and HK stocks from HKD 60 with even lower rates for active traders.

For each deposit made a referral bonus reward will be received. All Saxo Bank client funds are safeguarded in at least one segregated account and it is fully protected by the Financial Services Compensation Scheme. The Danish Guarantee Fund ensures that in the event that Saxo Bank should suspend its payments or go into bankruptcy, client deposits will be guaranteed by the Fund with up to EUR 100,000 for cash deposits.

  • The FX options for this account are similar to the interbank spreads.
  • Clients of Saxo Bank can open numerous accounts in the same or different currencies as their primary trading accounts.
  • Saxo offers trading access to a number of assets on Saxo Trader.
  • With the platform, you can directly do mechanical indicators, pointers, and animate news.

Note that the maximum leverage limit applies to major forex pairs and other instruments have lower leverage limits. However, the likelihood of any malpractice is very low since group entities of Saxo are regulated by global tier-1 and tier-2 financial authorities such as the FCA of the UK and the ASIC of Australia. Saxo Bank is an international forex and CFD broker that has been in operation since 1992. Saxo Bank does not have a physical presence in the Philippines and is not regulated by the Securities and Exchange Commission of the Philippines.

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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. 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. Order tickets are engineered to optimize productivity while displaying all pertinent information.

I think its great how we can faster and more precise execution with full support for automated trading. You can verify and optimise your strategy with extensive backtesting features. You can connect your Saxo account to a third-party platform to access custom tools that suit your specific trading requirements. Available features include asset-specific analysis tools, advanced strategy back testing and hyper-responsive charting. Trade on your choice of platform and benefit from Saxo’s industry leading execution speeds and market-leading prices. Each platform is priced differently and a licence has to be obtained directly from the software vendor to get access.

Access to trade up to 42,000 instruments from a single multicurrency account. The Saxo Bank UK clients are insured by the Financial Services Compensation Scheme . This means that eligible clients’ funds are further protected by the insurance provided by the FSCS. This also applies to those support who call themselves and offer unnecessary help, and managers who do not miss the opportunity to offer signals or some other nonsense.

saxo bank broker review Bank website does not offer a glossary of terms, which might be a major drawback for new traders. It targets experienced traders, and new traders might find it a little bit overwhelming about some of the contents; there is limited educational material for the beginners. The traders can trade directly from the chart, and this platform gives access to more than 50 technical indicators. In ETFs, it offers more than 3,000 exchange-traded funds that are offered from several exchanges. Besides, Saxo Bank also holds several licenses in other jurisdictions; and it is currently one of the most regulated brokers in the trading industry. 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.

As a global bank, they serve a global clientele including UK clients and Asian clients. Saxo Bank provides negative balance protection for its clients, ensuring that they cannot lose more than their account balance. When accounts lose money quickly they can become overdrawn; this dynamic trend can affect not only the client account but the trader as a whole. Saxo Bank is a participant in the Danish Guarantee Fund, a financial services compensation scheme that provides coverage of up to 100,000 euros per client in the event of bank insolvency.

Experienced traders, rather than beginners, widely use this platform. The minimum deposit required by the platform is a bit too high when compared to other trading platforms that need $250 as a minimum deposit. Before proceeding with Forex trading, a bit of investment advice always research and analyze the trading market and then invest your hard-earned money.

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