Company information

Saxo Bank was established as a private enterprise in 1992. The bank, which is located in Copenhagen, Denmark, has distinguished itself as one of Europe’s premier retail brokerage innovators. More than ten financial authorities, including the UK FCA, safeguard the safety of bank trade. The Bank is one of Europe’s and the world’s top retail brokerage innovators.

Trading platform

The trading platform provides users with access to a wide range of products and asset classes throughout the global financial markets.

The Trader is compatible with a wide range of devices and operating systems, including Windows desktop computers. SaxoTrader GO is a mobile app that works on iOS, Android, and Blackberry, among other platforms. To access its asset classes, the company provides a distinctive and appealing digital interface. After you’ve downloaded the software, you’ll need to complete a one-step login process. However, there is a more secure link to the login IP address for Platinum and VIP accounts. It includes a simple-to-use menu that makes it straightforward to manage, despite its complexity.

Assets / Markets

The trading platform offers a diverse portfolio of products for the markets available, including:

  • Forex
  • Bonds
  • Stock
  • ETFs
  • Options
  • Futures
  • CFD
  • Crypto

With over 5,000 bonds, including 3,400 developed country bonds and 1,600 emerging marketing bonds, the Trading platform provides users with an interesting asset class to trade. In addition, users can access government bonds in over 40 countries.

Spreads and Commission

The cost of trading is relatively significant. For example, among the most well-known brokers, US stock trading at $15 is the highest. Trading forex, stocks, and CFDs has average commissions. When trading lower amounts of futures, bonds, and options, the fees are fairly expensive.

The majority of commissions are based on volume. Forex costs, for example, are normally calculated on a volume basis, meaning that the more you trade, the lower your fees will be. The normal cost is 0.005%, however, it only applies to the first $50 million in monthly trading.

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Leverage

The majority of forex trading is done on margin, and each brokerage business has its own leverage. Saxo Bank’s leverage constraints, in particular, are based on a tiered margin structure.

This comprises a framework for managing political and economic events that may cause market instability, resulting in abrupt shifts. The firm’s maximum leverage is 1:30, which is in line with other European Union regulated brokers.

Mobile applications

The mobile app stands out since it has the same price and design as the online platform. It is still quite user-friendly, despite the lack of fundamental data and Saxo Select. The Trader App is available for Android smartphones from Google Play and for Apple devices from the App Store.

Payment Methods

Bank transfers can take anywhere from one to five business days. The majority of European consumers must transfer money to a Danish account, which necessitates an international bank transfer. Money is quickly credited to the trader’s account when using a credit/debit card.

However, your card operator will charge you a fee of 0.5-2.5 percent for this. Responses are given by shifting a stock portfolio. Because it must be handled by your existing portfolio holder, this may take a bit longer.

Withdrawals can be made to your bank account or your broker’s account through Saxo Bank. Your name must be on the account. Withdrawal is completely free.

Minimum deposits

The minimum deposits depend on the currency:

  • The UK £500
  • Singapore 3000 Singapore dollars
  • Malaysia 3000 Singapore dollars
  • Australia 3000 Australian dollars
  • China 2000
  • Hong Kong 2000
  • France 2000 euro
  • Netherlands 2000 euro
  • United Emirates 10,000 USD
  • Czech Republic 10,000 USD
  • Poland 10,000 USD
  • Slovakia 10,000 USD

Demo Account

Traders can use an immediate demo account to explore the platform and evaluate its operation. Along with a genuine account, a full demo account is available, allowing you to test and develop your approach.

Offers and promotions

On both web and desktop trading platforms, research resources are provided. Tradingfloor.com is a separate portal maintained by the corporation where traders may acquire more information regarding market data. Stock market research, news, strategists’ comments, trading signals, and a macro calendar are all available.

Bonuses

Despite the lack of an active incentive, the availability of competitive spreads across a variety of asset classes makes it almost insignificant. Because Forex trading is commission-based, this is critical. Bonus features are often not accessible while trading on the market since they encourage overtrading and are not regulated.

Regulation and licensing

The firm is regulated by more than 10 financial regulators worldwide and is a brokerage company with a high reputation in Europe:

  • Financial Conduct Authority (company number 551422).
  • Italian Market Authority – Consob (Albo SIM – registration number: 296).
  • Czech National Bank (registration number: 28949587).
  • the Bank of the Netherlands (registration number: 34357130).
  • Monetary Authority of Singapore (company registration number: 200601141M).
  • Saxo Bank (Switzerland) Ltd. (registration number UID CHE-106.787.764) is a licensed bank regulated by the Swiss Financial Market Supervisory Authority FINMA.
  • Bank of France (registration number: 483632501 RCS Paris).
  • Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative license issued by the Central Bank of the UAE.
  • Saxo Bank – the representative office is licensed by the Central Bank of the UAE. as a Representative Office (Registration number: 2017/995/13).
  • Saxo Bank Securities Ltd. Is licensed by the Japan Financial Services Agency (registration number: 239).
  • Saxo Capital Markets Hong Kong Ltd. is licensed by the Hong Kong Securities and Futures Commission (registration number 1395901).
  • Saxo Capital Markets (Australia) Pty. Ltd is licensed by the Australian Securities and Investments Commission (ASIC) (registration number: 126 373 859).

Additional features

The instructional component of the website might help investors who want to learn more about the trading markets. It provides traders the opportunity to learn about asset classes through online seminars led by trading specialists. Alternatively, you may enroll as an Academy ‘student’ and pick from a vast array of online lessons.

Accounts

Classic, Premium, Platinum, and VIP are the four basic account kinds offered by the company. The quantity of money in each account varies. A regular minimum deposit varies by nation, whereas a Premium account requires a minimum of $100,000, a Platinum account requires a minimum of $500,000, and a VIP account demands a minimum of $1,000,000. Traders with a Premium account get free access to advanced news and research. Investors with Platinum and VIP accounts get access to improved customer care as well as logins attached to an IP address, ensuring safer and tighter spreads.