Saxo Bank Review
- Max Leverage - 1:20
- Minimum Deposit - $10,000
- Spreads From - 0.4
We looked at over 50 forex brokers and Saxo Bank made our top 10, we hope you enjoy our Saxo Bank Review and made the right decision on your new broker for you!
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 the country.
Saxo Bank due to long positive track record is considered to be safe and it also has a banking background and is regulated by top-tier financial authorities.
There are three account options:
A classic account with a $10,000 minimum deposit, the Platinum account with $200,000 and VIP with 1 million minimum funding.
Saxo Bank provides its customers with their trading platforms SaxoTraderGO and SaxoTraderPRO.
SaxoTraderGO is an award-winning trading platform with a professional-looking design. This platform offers an extensive list of advanced features including an innovative risk-management feature.
SaxoTraderPRO is a professional fully customisable trading platform. It has a wide range of high-performance tools to manage and execute orders, with in-depth market analysis features
Deposit & Withdraw
Saxo Bank provides two deposit and withdrawal: with a bank transfer and credit or debit cards. Both is commission-free.
Saxo Bank provide access to a wide range of trading instruments, such as main Currency pairs, Index-, Stock-, ETFs -, Commodity -, Forex -, Bond – and Options CFDs
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.
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 the suspension of payment or forced liquidation, and they are returned to the client.
If 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.
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 be considered, especially by professional traders.
We hope you enjoyed reading our Saxo Bank Review if you want to visit the site, hit the link below to head over to Saxo Bank and open your new trading account today.
If you wanted to check out the rest of the forex brokers that made our top head over to our home page to read the rest of our forex broker reviews!