SAXO BANK

31/05/2023

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 60,000 tradeable instruments.

For active traders (or those who can afford to maintain the steep account balance requirements), Saxo Bank provides an immersive, rich trading experience with a towering selection of tools, research, and premium features.

Trust Worthy?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA). Learn more about Trust Score or see where the different Saxo Bank entities are regulated. We would Saxo has an excellent trust score and one does need to worry when using it.

Saxo Pros and Cons

Pros

👍
  • Founded in 1992, Saxo Bank operates three regulated banks and is licensed in six tier-1 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs.
  • Saxo Bank delivers access to over 60,000 instruments, including crypto derivatives (depending on your location), micro-futures and forex options.
  • Saxo Bank's flagship platform, SaxoTraderGo, includes everything that traders might need to
  • navigate the market.
  • Offers complex orders types and account protection features to seamlessly manage risk.
  • Saxo publishes its average spread data not only across trading sessions each day, but by order size – highlighting its ability to deliver best execution at scale.
  • The addition of Corellian Academy content for risk management is a great complement to Saxo Bank's existing educational offering.
  1. Pricing for VIP and Platinum account holders is highly competitive, while Classic account holders pay closer to the industry average on pairs such as the EUR/USD.


cons

👎
  • Though Saxo Bank produces high-quality videos for its research and education, it was not actively creating new video content in 2021.
  • Educational content is great, but there remains room to improve – such as by adding progress tracking and quizzes and expanding the number of lessons in written and video format.
  • Minimums are high: €2,000 minimum deposit to open an entry-level Classic account, whereas the Platinum and VIP accounts require minimums of $200,000 and $1,000,000. If you find the minimum deposit requirements to be too steep, consider IG or CMC Markets.
  • The SaxoTraderPRO desktop platform is a trading powerhouse but takes time to fully customize; adding more predefined layouts would be a welcome feature.


    • SAXO Overall

    Overall Rating                      ⭐⭐⭐⭐⭐


    Offering of Investments ⭐⭐⭐⭐⭐


    Platform & Tools 

    ⭐⭐⭐⭐⭐


    Mobile Trading 

    ⭐⭐⭐⭐⭐


    Education 

    ⭐⭐⭐⭐


    Tradeable Symbols


    60,000

    Trust Score


    99/100

    minimum deposit


    £2000

    Sign Up Here

    Visit Site
    Share
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.  
    Powered by Webnode Cookies
    Create your website for free!