company reviews
Saxo Bank

Broker from Denmark Saxo Bank has been working since 1992. Today it serves clients in more than 120 countries around the world, owns assets worth USD 16 billion and executes about 125,000 transactions daily. Having a license from the European Central Bank and regulating its subsidiaries in many economically developed countries, the company prides itself on a high level of reliability.

FEATURES OF TRADING WITH SAXO BANK

Key points to consider when considering trading with Saxo Bank.

1. Extensive trading toolkit from currency pairs, stocks, bonds, futures, ETFs and ETCs, various types of options, CFDs on stocks, indices and commodities.
2. Ample investment opportunities in several ways. There are 5 options for trust management strategies, within the framework of which professional traders will manage the client's funds. As part of the Saxo Morningstar Moat service, the company's specialists will help you select a diversified portfolio of shares of dozens of companies. And with the automated service SaxoSelect, you can repeat the actions of successful traders.
3. Customer support works 24 hours a day with various communication methods, including in Russian. As the deposit increases, the possibilities for personal consulting expand.
4. A small number of training and analytical materials, of which one can single out webinars with leading traders in different languages.
5. Lack of offers for people with small deposits, focus exclusively on wealthy clients.

SAXO BANK REGULATION

Directly in Denmark, Saxo Bank A / S has the status of a licensed bank with registration number 15731249 and is regulated by the local supervisory authority Danish FSA.

The Saxo Group organizations are regulated in 15 countries around the world. And these are not the offshore zones that many other major Forex brokers choose. The activities of this company comply with the laws of the most economically developed countries. Here are the figures for some of the major branches.

• France. Saxo Banque (France) SAS. Registration number 483632501 RCS, regulated by Credit Institution by the Bank of France.
• Italy. Saxo Bank A / S Italy. Registration number 5720, regulated by The Bank of Italy.
• Switzerland. Saxo Bank (Switzerland) AG. Registration number CH-660-0511991-1, regulated by the Swiss Federal Banking Commission.
• Singapore. Saxo Capital Markets Pte. Ltd. Singapore. Registration number 200601141M, regulated by the Monetary Authority of Singapore.
• Hong Kong. Saxo Capital Markets Hong Kong Ltd. Registration number 1395901, regulated by the Securities and Futures Commission in Hong Kong.

The company's activities comply with the standards of MiFID - the European Union Directive "On Markets in Financial Instruments".

SAXO BANK TRADING ACCOUNTS AND PLATFORMS

The broker offers its clients 3 types of trading accounts.

• Classic. The minimum deposit is 10,000 USD. Opens access to all trading instruments, there is no service fee.
• Platinum. The minimum deposit is 200,000 USD. The benefits of the previous account type are retained and priority customer support is added in the selected language. Trading costs are reduced to 1/3.
• VIP. The minimum deposit is 1,000,000 USD. Provides individual consulting by leading bank specialists.

It is possible to open a demo account with virtual funds trading without investing real money.

There are also 3 types of trading platforms available.

1. Meta Trader 4. The most common trading platform that meets the requirements of most participants in the process.
2. SaxoTraderGO. Self-developed web application. Provides access to tools through any Internet-enabled device. It has many functions for trading and investing with the ability to conduct technical and fundamental analysis.
3. SaxoTraderPRO. A product developed by the company, aimed at highly trained traders who conduct in-depth analysis and open a large number of orders. In particular, a one-time demonstration of the terminal on 6 screens helps this. The number of technical indicators is over 50.

REPLENISHMENT AND WITHDRAWAL OF FUNDS

There are only 3 ways to replenish the deposit.

• Bank cards.
• Bank transfer.
• Transfer of securities.

The commission for replenishment is from 0.5% to 3%. The size depends on the currency that is available for depositing 20 types.

Withdrawals to a bank card cannot be made, but only to the bank account to which it is linked. Transfers take 3 to 5 business days. In this case, no commission is charged. It is important that if you make a request from the trading platform, the company processes it free of charge, and if you submit an application in writing, then only 40 USD will have to be paid for this fact alone.

TRADERS 'OPINIONS ABOUT SAXO BANK

Most often, in reviews of Saxo Bank, clients mention the reliability and good reputation of this European broker. Traders are pleased with the variety of trading instruments, for example, only stocks and bonds are offered 26,000 types, and among the options there are contractual, for stocks, Forex options. High-quality technical support, consulting and choice of investment options are noted.

Among the disadvantages of the company, as a rule, the inaccessibility of trading is indicated for the majority of those who wish because of the high minimum deposit.