| Founding Year |
 1992
|
|---|---|
| Regulated |
 Yes
|
| Rating |
4.3/5 |
| Minimum Deposit |
 $2000
|
4.3/5
1992
$2000
Saxo Bank is a Danish online investment broker that offers a wide range of financial instruments for online trading, including forex, stocks, commodities and more. The company features a user-friendly platform available on desktop, mobile and web, equipped with advanced trading tools and market analysis resources.
One of the key features of Saxo Bank is its user-friendly platform, which is available on desktop, mobile, and web. The platform is equipped with advanced trading tools, charting packages, and research resources, providing clients with all the information they need to make informed trading decisions.
In addition to its trading platform, Saxo Bank also provides its clients with a comprehensive range of educational resources, including webinars, video tutorials, and market analysis reports. This enables clients to improve their trading skills and stay up-to-date with the latest market trends.
| Founding Year |
1992
|
|---|---|
| Regulated |
Yes
|
| Rating |
4.3/5 |
| Minimum Deposit |
$2000
|
Saxo Bank is a well-regulated online investment broker, operating under a number of international financial authorities. The broker is committed to providing its clients with a secure trading environment, and follows strict regulations to ensure that client funds and personal information are protected.
In Denmark, Saxo Bank is regulated by the Danish Financial Supervisory Authority (FSA). The FSA is responsible for supervising and regulating the financial services sector in Denmark, and ensuring that financial institutions are operating in a fair and transparent manner.
In the UK, Saxo Bank is regulated by the Financial Conduct Authority (FCA). The FCA is a leading financial regulator that oversees and regulates the financial services sector in the UK, ensuring that financial institutions are operating in a way that protects consumers.
In other countries, Saxo Bank is regulated by local financial authorities, including the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Swiss Financial Market Supervisory Authority (FINMA).
Overall, the bank’s regulatory oversight ensures that clients’ funds and personal information are protected, and that the bank operates in a transparent and fair manner. This provides clients with peace of mind and confidence when trading with Saxo Bank.
| COUNTRY | AUTHORITY |
|---|---|
 UK
|
Financial Conduct Authority (FCA) |
 Australia |
Australian Securities and Investments Commission (ASIC) |
 Singapore |
Monetary Authority of Singapore (MAS) |
 Denmark
|
Danish Financial Supervisory Authority (FSA) |
 Switzerland
|
Swiss Financial Market Supervisory Authority (FINMA) |
Saxo Bank offers several account types, each with its own unique benefits. The Classic Account is suitable for beginner traders, offering tight spreads and low commissions to facilitate cost-effective trading with smaller amounts. The Platinum Account, designed for experienced traders who trade larger volumes, provides tighter spreads, lower commissions, and access to dedicated support and premium research resources. The VIP Account, designed for high net worth individuals and institutional traders, offers the best trading conditions including the lowest spreads and commissions, as well as a dedicated relationship manager and premium research resources. The Islamic Account, designed for clients following the principles of Islamic finance, offers swap-free trading in compliance with the principles of Sharia law. The Professional Account, designed for professional traders under EU regulations, offers lower margins, higher leverage, and access to professional trading tools. Clients can choose the account that best suits their individual needs and goals, and switch between account types at any time.
Saxo Bank offers a variety of trading platforms to its clients, each designed to meet the needs of different types of traders. SaxoTraderGO is a user-friendly web-based platform that offers advanced charting, trading, and analysis tools, as well as access to Saxo Bank’s research and news resources. SaxoTraderPRO is a desktop-based platform for advanced traders and professionals that offers customization options and a high level of automation. SaxoInvestor is a platform for long-term investors who want to manage their portfolios and access a range of investment products.
SaxoMobileTrader is a mobile platform that allows clients to trade on the go from their smartphones or tablets. All of Saxo Bank’s platforms are regulated by leading financial authorities and offer a high level of security. Clients can choose the platform that best suits their individual needs and goals and switch between platforms at any time. However, Saxo bank does not offer the Meta Platforms which is a downside for many traders.
| PLATFORM | AVAILABILITY |
|---|---|
| Proprietary Platform |
Yes
|
| MT4/MT5 (Windows/MAC) |
 No
|
| Mobile Platform (Android/IOS) |
Yes
|
The leverage offered by Saxo Bank to its clients varies depending on the financial product being traded and the client’s location. In general, Saxo Bank offers flexible leverage options, ranging from low to high. The exact leverage offered can depend on a number of factors, including the client’s experience and knowledge, the regulatory environment in the client’s jurisdiction, and the size of the client’s account.
In some cases, regulatory restrictions may limit the maximum amount of leverage that can be offered to clients. The leverage offered on forex can be as high as 100:1 for retail clients, although this can vary depending on the specific currency pair being traded and the client’s location. In some jurisdictions, regulatory restrictions may limit the maximum amount of leverage that can be offered to clients.
The leverage offered on stocks varies depending on the specific stock being traded, but it typically ranges from 2:1 to 5:1 for retail clients. The leverage offered on commodities, such as gold, silver, and oil, can be as high as 20:1 for retail clients, although this can vary depending on the specific commodity being traded and the client’s location. The leverage offered on cryptocurrencies can be as high as 5:1 for retail clients, although this can vary depending on the specific cryptocurrency being traded and the client’s location.
| PRODUCT | MAX LEVERAGE |
|---|---|
| FOREX | 1:200 |
| COMMODITIES | 1:100 |
| CRYPTO | 1:5 |
Saxo Bank offers a comprehensive range of financial products to its clients, providing ample opportunities to diversify their portfolios and meet their investment and trading goals. The bank’s product range includes Forex, Stocks, Futures, Options, CFDs, Bonds, ETFs, Mutual Funds, Structured Products, and Cryptocurrencies.
In the Forex market, clients can trade over 190 currency pairs, including major, minor, and exotic currency pairs. In the Stocks market, clients can trade shares from 36 global stock exchanges, including NYSE, NASDAQ, and LSE. In the Futures market, clients can trade futures contracts in a range of markets, including commodities, equity indices, and bonds. In the Options market, clients can trade options on a wide range of underlying assets, including stocks, indices, commodities, and currencies.
In the CFDs market, clients can trade Contracts for Difference (CFDs) on a wide range of assets, including stocks, indices, commodities, and currencies. In the Bonds market, clients can trade bonds from a range of issuers, including government bonds and corporate bonds. In the ETFs market, clients can trade Exchange-Traded Funds (ETFs), which offer exposure to a range of assets, including stocks, bonds, and commodities. In the Mutual Funds market, clients can invest in a range of mutual funds, which provide exposure to a diverse range of assets and investment strategies. In the Structured Products market, clients can invest in structured products, which offer exposure to a range of assets and investment strategies, with the potential for higher returns. Finally, in the Cryptocurrency market, clients can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others.
Overall, with its comprehensive range of financial products, Saxo Bank provides its clients with the tools and resources they need to meet their investment and trading goals.
| PRODUCTS | AVAILABILITY |
|---|---|
| Multi Assets |
Yes
|
| Forex |
Yes
|
| Crypto |
Yes
|
| CFD Stocks |
Yes
|
| CFD Indices |
Yes
|
Saxo Bank offers a range of financial products to its clients, including stocks, forex, and cryptocurrencies. The spread offered by Saxo Bank on these products varies depending on the specific product being traded and the client’s location.
Typically, the spread on Forex ranges between 0.7 to 1 PIP. On FX options it is as low as 3 PIPS. On CFD stocks it starts from 0.7 cent while on Swiss stocks the spread is 0.08 cents. The spread on crypto starts from 0.7 PIPS.
On commodities SAXO bank charges $2 commission per lot while on ETF’s the commission starts from 0.08% of the total value of your position. On bonds the commission charged is 0.05% of the total value of the bonds traded.
| PRODUCT | SPREAD RANGE |
|---|---|
| Forex | 0.7 - 1.2 |
| Commodities | 0.3 - 2.5 |
| Indices | 1 - 2.0 |
Saxo Bank provides various options for its clients to deposit and withdraw funds, including bank transfers, credit/debit cards, and popular e-wallet services such as PayPal and Skrill. The availability of these methods may differ based on the client’s location.
Regarding deposits in cryptocurrencies, Saxo Bank does not accept any crypto deposits neither it offers to withdraw the funds in crypto.
It is crucial to keep in mind that the options, fees, and processing times for depositing and withdrawing funds may change, and clients should check with Saxo Bank before making any transactions.
| METHOD | AVAILABILITY |
|---|---|
| Credit/Debit Card |
Yes
|
| Wire Transfer |
Yes
|
| E-Wallets |
Yes
|
| Crypto |
No
|
Saxo Bank is a reputable and well-established online trading broker that offers a wide range of financial products and services to its clients. Despite not offering the popular MetaTrader platform, Saxo Bank’s proprietary trading platform is known for its advanced trading tools and user-friendly interface. The broker’s commission structure is considered high by some, but the premium pricing is reflected in the high-quality research, analysis, and educational resources that are available to clients.
Saxo Bank’s minimum deposit requirement is also on the higher side compared to other online brokers, but this is not uncommon for brokers that cater to a more sophisticated clientele. It’s important to note that the broker’s lack of support for cryptocurrency deposits and withdrawals may be a drawback for some, but the broker makes up for it with its extensive offering of traditional financial products, including forex, stocks, commodities, and more.
Overall, Saxo Bank is a trusted and reliable broker that offers a comprehensive trading experience for its clients. Its advanced platform, wide range of products, and superior research and analysis resources make it an attractive option for investors who are looking for a broker that can provide them with the tools and support they need to succeed in the markets.
| Pros |
Cons |
|---|---|
| Multi Asset | High Deposit |
| Multi Regulated | No Copy Trading |
| Comprehensive Education | |
| Huge List of Instruments | |
| Low Spread | |
| Proprietary Platform |
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