Saxo Bank Broker Review06/27/12
Saxo Bank was established in 1992 and is regulated by SFC (Hong Kong), FSA (UK), FSA (Japan), FSA (Denmark), FINMA (Switzerland), CNMV (Spain) and ACP (France). It is an international investment bank specialising in online trading and investment across global financial markets. Via online trading platforms this broker enables private investors and institutional clients to trade FX, CFDs, Stocks, Options, Futures and other derivatives. In addition, Saxo Bank offers professional portfolio and fund management.
Since the foundation Saxo Bank has been a facilitator in the global capital markets aggregating liquidity, offering access to exchanges around the world and providing its powerful suite of products and platforms to private clients, institutions, banks and brokerages.
Customers of Saxo Bank have a choice of trading platforms:
- Saxo Trader By Saxo Bank
- SaxoWebTrader By Saxo Bank
- SaxoMobileTrader By Saxo Bank
The flagship SaxoTrader platform has been joined by web and mobile platforms that, together, give clients of Saxo Bank access to markets from anywhere in the world.
Moreover, Saxo Bank provides a free practice with a demo account for its clients. You can open a demo account to try different strategies in a test trading environment. Demo platform expires after 30 days.
A wide range of account currencies is available at Saxo Bank: AUD, JPY, GBP, CHF, DKK, NOK, PLN, HUF, USD, EUR, SEK, SGD, HKD, RON, RUB, LS.
Furthermore, Saxo Bank offers a maximum leverage of 200:1 with profitability of 100% for Options. Saxo Bank requires a minimum deposit of $10000 to open an account.
This broker reserves the right to impose a minimum trade size of 5000 and charges commissions on CFDs (0.10%-0.25%), Futures ($10/Contract) and Stocks ($0.02-$0.03/Share). No fees are charged for Forex and Options as well as for depositing and withdrawal.
A significant team of experienced IT professionals works to firmly secure all of Saxo Bank’s information and operating systems. Safeguarding client information and securely controlling, executing and managing real-time internal systems are of utmost importance for Saxo Bank. Continuing investments in IT allow Saxo Bank to offer multi-product access and sophisticated trading platforms to individual traders in over 180 countries worldwide, as well as banks, brokerages and other institutional clients.
It is possible by Saxo Bank to make orders via telephone. There is also an option to get a consultation of a personal account manager on the website.
Saxo Bank operates a highly customer focused support team that helps its clients by means of manuals, call back, phone, chat and email in various languages: English, French, German, Italian, Polish, Portuguese, Russian, Spanish, Romanian.