0.00
Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

Saxo Bank Review

3.87
23 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

Saxo Bank general information

Founded in: 1992 year
Headquarters:
Denmark
Offices in the country:
Australia, Brazil, United Kingdom, Hong Kong, India, Spain, Italy, Cyprus, United Arab Emirates, Singapore, Turkey, France, Czech Republic, Switzerland, South Africa, Japan
Minimum Deposit: 10000 $
Website: saxobank.com
Website languages:
English, Arab, Hungarian, Greek, Danish, Spanish, Italian, Chinese, Deutsch, Dutch, Norwegian, Polish, Romanian, Russian, Turkish, Finnish, French, Swede, Japanese
Execution model:
ECN, STP
Deposit currency:
USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD, SEK, RUB, HKD, SGD
Support languages:
English, Arab, Spanish, Italian, Chinese, Deutsch, Portuguese, Russian, Turkish, French, Czech, Japanese
Regulated by:
ASIC (Australia) license №126 373 859
FCA (United Kingdom) license №FC026688
FSMA (Belgium) license №837 752 574
SFC (Hong Kong) license №1395901
DFSA (Denmark) license №9695
CONSOB (Italy) license №5720
CNMV (Spain) license №1510
AFM (Netherlands) license №34357130
SMV (Panama) license №689203
MAS (Singapore) license №200601141M
CNB (Czech Republic) license №28949587
FINMA (Switzerland) license №CH-660-0511991-1
FSA (Japan) license №239
CFSFA (Cyprus) license №AE2674
BDF (France) license №483632501 R.C.S. Paris
DMCC (United Arab Emirates) license №CL0820
Mobile trading: iOS, Android
Types of offered accounts:
Demo accounts (with a time limit), Standard Accounts, VIP accounts
Affiliate program: Not

Saxo Bank Forex broker description

Saxo Bank was founded in the year 1992. It is an investment bank that has Danish roots with the focus of the investment bank being online trading and investment. The firm trades several instruments. That includes stocks, funds, CFDs, futures, bonds, and spreads. It is worth noting that with Saxo Bank, traders do not get to trade with traditional items. The investment bank has set its footprints in 180 countries worldwide with its headquarters being in Copenhagen.

The company has earned trust from its different stakeholders as a result of its accomplishments: which have been acknowledged. The firm is an award winner. The brokerage has also created employment for over 1600 people. The bank also allows trader connection to the world’s primary stock exchanges for liquidity. Saxo Bank provides a platform for all types of clients like ones from brokerage firms, banks, and family officers to mention a few.

 Trading Accounts

Saxo Bank has three types of trading accounts. Unlike most Forex brokers, the minimum deposit needed is rather high.

Classic Account

The minimum deposit required for the classic account is $10,000. Traders will classic trading accounts also have access to all the trading platforms. Additionally, they can also trade with all the instruments offered by Saxo Bank. If the trader is experiencing challenges on the way, there is also 24/7 customer service ready to serve them. The other benefits that come with trading with the classic account are access to Trade Maker and Saxo academy for the traders that still need guidance in a thing or two.

Premium Account

The minimum deposit for the premium is $100,000. Traders with the premium account are able to work with all the trading platforms. The trader can also trade with all the available products, have access to 24/7 customer service and the Trade Maker. On top of having access to Saxo Academy, the account has more benefits over the classic account. That is free news and research, individual pricing and an account executive service available for 24 hours in a day.

Platinum Account

The Platinum trading account requires a minimum deposit of $500,000. The trading account is the one with the most benefits. It allows access to all trading platforms and trading products, 24/7 customer service and an account executive service. The trader also gets to get to the Saxo Academy and Trade Maker. No service fee is charged for this account. The trader is allowed to make individual pricing and a free choice to customer service. The FX options for this account are similar to the interbank spreads.

About Saxo bank and Security of Funds

How secure are your funds if you trade with this account? It is probably something the trader should never worry about. The fact that the investment firm is under private ownership gives your funds another layer of protection. It is also worth noting that it is also under the regulation of the Danish Financial Supervisory Authority (FSA). It is also under the regulatory bodies of other countries like the UK, Australia, and Japan. The regulatory agencies responsible are FCA, ASIC, and FSA respectively. Even, did you know that the bank is an associate of the Danish Guarantee Fund? Well, it is. What does that tell you? That the assets of the depositors and investors are secure should the bank become insolvent.

The bank is also under the supervision of the Market in Financial Instruments Directive authority. It means that the bank has to comply with stringent requirements which means more security for the funds.

Trading Conditions

Minimum Initial Deposit

As earlier stated, for you to trade with Saxo Bank, the initial minimum deposit you will be required to make will be $10,000. Note that the deposit is for the Classic Account. The other trading accounts also have their specified minimum deposits.

Average spreads & Commissions

What is the deal with spreads and commissions? The investment bank offers both fixed and variable and fixed spreads. The nature of the variable spreads is that they are constricted. These will range from about 0.5 pips whereas the fixed spreads are regular going up to 2 pips on the USD or EUR. For one to get the fixed spreads, they need to use a Volume Price Plan. It is worth noting that the commissions, in this case, will also be volume-based.

Maximum Leverage   

The leverage offered by this bank will surprise you as they are not like most of the ones used by other brokerage firms. The highest leverage you can get will be 1:100 — the primary reason being that the investment bank realizes that high leverage comes with heavier risks of losses.

Trading Platforms

Saxo Bank has a number of trading platforms in play.

Saxo Trader

Saxo Trader is an in-house trading platform developed by the bank. It was established in 2015. The trader comes with both mobile, web and desktop platforms seeing that it has a wide array of financial products. The trading platforms undergo constant updates in a bid to provide the traders with the best trading experience. The performance of the platform is unmatched. With the platform, you can directly do mechanical indicators, pointers, and animate news. The platform also comes with analytical tools.

 MetaTrader4

MetaTrader4 is also another platform you can trade on in the Saxo Bank trading accounts. MetaTrder4 is also a popular and renowned trading account. It also has a web, mobile and desktop platform allowing traders to make transactions at their convenience.

The platform is not in-house and also comes free of charge. Trading on this platform is also automated bringing more convenience. As a trader on this platform, you will also be getting trading signals. The trading platform is very flexible and suitable for traders with all levels of experience.

Briefly about Saxo Bank

 A significantly regulated, very reliable broker and bank, Saxo Bank is a brilliant selection for every broker, who is prepared to or proficient to invest $10 000. Saxo has been honored with numerous awards over many years and offers practical, advanced customer service. A look through Saxo Bank customer reviews and comments will help you get more information about the broker.

Trading accounts of Saxo Bank

  • Saxo Classic
  • Saxo Premium
  • Saxo Platinum
Trading platforms: SaxoTrader
Minimum Deposit : 10000 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
NZD - New Zealand Dollar
SEK - Swedish Krona
RUB - Russian Ruble
HKD - Hong Kong Dollar
SGD - Singapore Dollar
Trading instruments:
Forex1:100
Number of currency pairs: 148
  • AUD/CAD
  • AUD/CHF
  • AUD/CNH
  • AUD/CZK
  • AUD/DKK
  • AUD/EUR
  • AUD/HKD
  • AUD/HUF
  • AUD/JPY
  • AUD/MXN
  • AUD/NOK
  • AUD/NZD
  • AUD/PLN
  • AUD/SEK
  • AUD/SGD
  • AUD/TRY
  • AUD/USD
  • AUD/ZAR
  • CAD/CHF
  • CAD/JPY
  • CAD/MXN
  • CAD/NOK
  • CAD/PLN
  • CAD/SEK
  • CAD/TRY
  • CHF/CZK
  • CHF/DKK
  • CHF/HUF
  • CHF/JPY
  • CHF/MXN
  • CHF/NOK
  • CHF/PLN
  • CHF/SEK
  • CHF/SGD
  • CHF/TRY
  • CHF/USD
  • CHF/ZAR
  • CNH/HKD
  • CNH/JPY
  • CZK/PLN
  • DKK/CZK
  • DKK/HUF
  • DKK/JPY
  • DKK/PLN
  • DKK/SGD
  • DKK/ZAR
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/CNH
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/HRK
  • EUR/HUF
  • EUR/ILS
  • EUR/JPY
  • EUR/LTL
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/RON
  • EUR/RUB
  • EUR/SEK
  • EUR/SGD
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/CZK
  • GBP/DKK
  • GBP/HUF
  • GBP/ILS
  • GBP/JPY
  • GBP/MXN
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/SGD
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • HUF/JPY
  • JPY/DKK
  • MXN/JPY
  • NOK/DKK
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/CZK
  • NZD/DKK
  • NZD/HUF
  • NZD/JPY
  • NZD/MXN
  • NZD/PLN
  • NZD/SEK
  • NZD/SGD
  • NZD/TRY
  • NZD/USD
  • NZD/ZAR
  • PLN/HUF
  • PLN/JPY
  • SEK/DKK
  • SEK/JPY
  • SEK/PLN
  • SGD/HKD
  • SGD/JPY
  • TRY/DKK
  • TRY/JPY
  • TRY/ZAR
  • USD/AED
  • USD/BHD
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HRK
  • USD/HUF
  • USD/ILS
  • USD/JOD
  • USD/JPY
  • USD/KWD
  • USD/LTL
  • USD/MXN
  • USD/NOK
  • USD/OMR
  • USD/PLN
  • USD/QAR
  • USD/RON
  • USD/RUB
  • USD/SAR
  • USD/SEK
  • USD/SGD
  • USD/THB
  • USD/TRY
  • USD/ZAR
  • XPD/USD
  • XPT/USD
  • ZAR/JPY
CFD's1:100
Amount of assets : 32421
  • Promotions
  • Futures
  • Indices
  • Products
Metals1:100
  • Gold
  • Silver
Energy sources1:100
  • Oil
  • Gas
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Yes
Spread type:
Floating
Decimal places:
4 characters
Phone trading:
Not
Trading platforms: SaxoTrader
Minimum Deposit : 100000 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
NZD - New Zealand Dollar
RUB - Russian Ruble
Trading instruments:
Forex1:100
Number of currency pairs: 148
  • AUD/CAD
  • AUD/CHF
  • AUD/CNH
  • AUD/CZK
  • AUD/DKK
  • AUD/EUR
  • AUD/HKD
  • AUD/HUF
  • AUD/JPY
  • AUD/MXN
  • AUD/NOK
  • AUD/NZD
  • AUD/PLN
  • AUD/SEK
  • AUD/SGD
  • AUD/TRY
  • AUD/USD
  • AUD/ZAR
  • CAD/CHF
  • CAD/JPY
  • CAD/MXN
  • CAD/NOK
  • CAD/PLN
  • CAD/SEK
  • CAD/TRY
  • CHF/CZK
  • CHF/DKK
  • CHF/HUF
  • CHF/JPY
  • CHF/MXN
  • CHF/NOK
  • CHF/PLN
  • CHF/SEK
  • CHF/SGD
  • CHF/TRY
  • CHF/USD
  • CHF/ZAR
  • CNH/HKD
  • CNH/JPY
  • CZK/PLN
  • DKK/CZK
  • DKK/HUF
  • DKK/JPY
  • DKK/PLN
  • DKK/SGD
  • DKK/ZAR
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/CNH
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/HRK
  • EUR/HUF
  • EUR/ILS
  • EUR/JPY
  • EUR/LTL
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/RON
  • EUR/RUB
  • EUR/SEK
  • EUR/SGD
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/CZK
  • GBP/DKK
  • GBP/HUF
  • GBP/ILS
  • GBP/JPY
  • GBP/MXN
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/SGD
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • HUF/JPY
  • JPY/DKK
  • MXN/JPY
  • NOK/DKK
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/CZK
  • NZD/DKK
  • NZD/HUF
  • NZD/JPY
  • NZD/MXN
  • NZD/PLN
  • NZD/SEK
  • NZD/SGD
  • NZD/TRY
  • NZD/USD
  • NZD/ZAR
  • PLN/HUF
  • PLN/JPY
  • SEK/DKK
  • SEK/JPY
  • SEK/PLN
  • SGD/HKD
  • SGD/JPY
  • TRY/DKK
  • TRY/JPY
  • TRY/ZAR
  • USD/AED
  • USD/BHD
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HRK
  • USD/HUF
  • USD/ILS
  • USD/JOD
  • USD/JPY
  • USD/KWD
  • USD/LTL
  • USD/MXN
  • USD/NOK
  • USD/OMR
  • USD/PLN
  • USD/QAR
  • USD/RON
  • USD/RUB
  • USD/SAR
  • USD/SEK
  • USD/SGD
  • USD/THB
  • USD/TRY
  • USD/ZAR
  • XPD/USD
  • XPT/USD
  • ZAR/JPY
CFD's1:100
Amount of assets : 32421
  • Promotions
  • Futures
  • Indices
  • Products
Metals1:100
  • Gold
  • Silver
Energy sources1:100
  • Oil
  • Gas
Stock exchange
  • Promotions
  • Futures
  • Options
  • Bonds
  • Depositary Receipts (ADR and GDR)
  • Exchange goods (UTS)
  • Funds (ETF)
Entry to stock exchanges
  • NASDAQ (US)
  • CME (USA)
  • NYSE (USA)
  • NYMEX (USA)
  • Eurex (EU)
  • Euronext (ES)
  • FBW (Germany)
  • LSE (United Kingdom)
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Yes
Spread type:
Floating
Decimal places:
4 characters
Phone trading:
Yes
Trading platforms: SaxoTrader
Minimum Deposit : 500000 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
NZD - New Zealand Dollar
RUB - Russian Ruble
Trading instruments:
Forex1:100
Number of currency pairs: 148
  • AUD/CAD
  • AUD/CHF
  • AUD/CNH
  • AUD/CZK
  • AUD/DKK
  • AUD/EUR
  • AUD/HKD
  • AUD/HUF
  • AUD/JPY
  • AUD/MXN
  • AUD/NOK
  • AUD/NZD
  • AUD/PLN
  • AUD/SEK
  • AUD/SGD
  • AUD/TRY
  • AUD/USD
  • AUD/ZAR
  • CAD/CHF
  • CAD/JPY
  • CAD/MXN
  • CAD/NOK
  • CAD/PLN
  • CAD/SEK
  • CAD/TRY
  • CHF/CZK
  • CHF/DKK
  • CHF/HUF
  • CHF/JPY
  • CHF/MXN
  • CHF/NOK
  • CHF/PLN
  • CHF/SEK
  • CHF/SGD
  • CHF/TRY
  • CHF/USD
  • CHF/ZAR
  • CNH/HKD
  • CNH/JPY
  • CZK/PLN
  • DKK/CZK
  • DKK/HUF
  • DKK/JPY
  • DKK/PLN
  • DKK/SGD
  • DKK/ZAR
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/CNH
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/HRK
  • EUR/HUF
  • EUR/ILS
  • EUR/JPY
  • EUR/LTL
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/RON
  • EUR/RUB
  • EUR/SEK
  • EUR/SGD
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/CZK
  • GBP/DKK
  • GBP/HUF
  • GBP/ILS
  • GBP/JPY
  • GBP/MXN
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/SGD
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • HUF/JPY
  • JPY/DKK
  • MXN/JPY
  • NOK/DKK
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/CZK
  • NZD/DKK
  • NZD/HUF
  • NZD/JPY
  • NZD/MXN
  • NZD/PLN
  • NZD/SEK
  • NZD/SGD
  • NZD/TRY
  • NZD/USD
  • NZD/ZAR
  • PLN/HUF
  • PLN/JPY
  • SEK/DKK
  • SEK/JPY
  • SEK/PLN
  • SGD/HKD
  • SGD/JPY
  • TRY/DKK
  • TRY/JPY
  • TRY/ZAR
  • USD/AED
  • USD/BHD
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HRK
  • USD/HUF
  • USD/ILS
  • USD/JOD
  • USD/JPY
  • USD/KWD
  • USD/LTL
  • USD/MXN
  • USD/NOK
  • USD/OMR
  • USD/PLN
  • USD/QAR
  • USD/RON
  • USD/RUB
  • USD/SAR
  • USD/SEK
  • USD/SGD
  • USD/THB
  • USD/TRY
  • USD/ZAR
  • XPD/USD
  • XPT/USD
  • ZAR/JPY
CFD's1:100
Amount of assets : 32421
  • Promotions
  • Futures
  • Indices
  • Products
Metals1:100
  • Gold
  • Silver
Energy sources1:100
  • Oil
  • Gas
Stock exchange
  • Promotions
  • Futures
  • Options
  • Bonds
  • Depositary Receipts (ADR and GDR)
  • Exchange goods (UTS)
  • Funds (ETF)
Entry to stock exchanges
  • NASDAQ (US)
  • CME (USA)
  • NYSE (USA)
  • NYMEX (USA)
  • Eurex (EU)
  • Euronext (ES)
  • FBW (Germany)
  • LSE (United Kingdom)
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Yes
Spread type:
Floating
Decimal places:
5 characters
Phone trading:
Not

Contacts of Saxo Bank

Headquarters
Дания , КопенгагенPhilip Heymans Allé, 15
show on the map
+45 3977 5321Телефон штаб-квартиры
Представительство
Кипр , LimassolAgias Fylaxeos, 1
show on the map
+7-499 705 6177Поддержка клиентов

Recent customer reviews of Saxo Bank

Ayden Clarke 04 October 2022

Advantages: Stability of the terminal operation Favorable trading conditions Training materials Quick and convenient withdrawal of earnings without commissions Fast verification High-quality analytics

Disadvantages: Terminal freezes and slips Inconvenient personal account

Comment: I like everything, except for a few intrusive employees. 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. I need it. perhaps someone likes to be coddled and someone is bribed by such attention from the broker, as if you are a “golden” client, but I think this is superfluous. He asked me to get rid of the calls, it seems like they haven't been calling for several days. Otherwise, everything suits me. Orders work fine, I didn't notice any problems with the terminal. So far, more than half of my deals have been successful, I have withdrawn part of the profit twice - no questions were asked about this by the way. The speed is not mega fast, but I have no complaints, because within the framework of the regulations.

Comment
Add a COMMENT
Patrick Hoffman 09 September 2022

Advantages: Permanent deposit bonuses and compensation for losses Unlimited demo account Favorable terms of the affiliate program Operational Support Service

Disadvantages: There is no information about liquidity providers No trading on weekends

Comment: Grand held a competition that allowed you to start trading without investing your money. That's how I started working with this company. In the future, of course, I repeatedly replenished my account with my own money, but the beginning was made thanks to the contest. In general, I like contests here. They are usually not delayed in time, so you do not have to strain for a long time. So I participated in competitions and won. I used technical analysis, traded on a short timeframe of 1 minute - this was the key to my victory, everything turned out well. In general, I think I will stay here for a long time, because it feels like the company is stable. The trading conditions are average, but the output is fast, the input is also high-speed). Customer support at the level of. I'm happy with everything.

Comment
Add a COMMENT
Joe Bray 12 July 2022

Advantages: Favorable trading conditions A large selection of ways to deposit / withdraw funds High-quality technical support Simplicity and convenience High-quality analytics and training Affiliate program

Disadvantages: Did not find

Comment: I have a positive impression of the company, but I will continue my research in order to find my ideal broker. I'll explain the reason. The company is quite pleasant when cooperating, and it seems like managers call back in a timely manner, and the minimum deposit is within reasonable limits, input / output without problems, the platform works well and there is some kind of regulator there, but there are enough such as this company. I can't single her out in some way, although in principle she deserves attention and if anything ..., she will remain on my list and I will return at any moment. In the meantime, I will continue the search.

Comment
Add a COMMENT

Saxo Bank webinars and seminars

21:17 18 JULY, 2017
Webinar: "FX Options" - Saxo Bank

Saxo Bank now provides a webinar that talks about Forex Options in Forex trading. FX Options are considered to be a good way to e ...

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Saxo Bank categories


Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.