SaxoBank Review

Regulation : Danish Financial Supervisory Authority, Banco de España, FSA, Monetary Authority of Singapore, Swiss Federal Banking Commission, Japanese Financial Services Agency

Accepts US Clients: No

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Min. Deposit : $5000

Leverage : 1:200

Platforms : Saxo Trader, Saxo Web Trader, Saxo MT4, Saxo Mobile Trader, Saxo Trader Apps for iPhone, iPad and Androids

We Like

  • Over 160 currency pairs and other instruments to trade
  • Tight variable spreads
  • Wide range of trading platforms

We Don't Like

  • Min. deposit of $5000 which is pretty high for many forex traders
  • No mini account
  • Do not accept online payment
The Verdict :

SaxoBank requires higher initial deposit and provides low leverage ratio. Their spread is pretty low and remains fixed most of the times. However, small traders and investors might not be interested in this broker due to higher minimum deposit requirement.

  • Expert Opinion
  • User reviews
  • Specifications
Platform:
Trading PlatformsSaxo Trader, Saxo Web Trader, Saxo MT4, Saxo Mobile Trader, Saxo Trader Apps for iPhone, iPad and Androids
OS CompatibilityMicrosoft Windows, Mobile, Web, iPhone
Mobile TradingYes
Web Based TradingYes
Platform Languages20 Languages
Addition ServicesTrade Marker, FX Options Board, FX Options Report, Workspace, Instrument Explorer, Economic Calendar, News, Stock Screener, Equity Research, Chat.
Other Tradable InstrumentsCFDs, ETFs, Stocks, futures, Options and other derivatives
HedgingYes
ScalpingYes
Trailing StopYes
One Click TradingYes
Automated TradingYes
OCO OrdersNo
Account Details :
Max Leverage1:200
Min. Initial DepositClassic Account - $5000
Premium Account - $100,000
Platinum Account - $500,000
Saxo MT4 Account - No Minimum Deposit
CommissionsNo
Typical Spread (Majors)EUR/USD – 2
Deposit OptionsBank Wire
Withdrawal OptionsBank Wire
Demo AccountYes
Account TypesMicro, Mini and Standard
Number of pairs offeredOver 160
Dealing DeskMarket Maker
Additional FeaturesTrade Mentor, Platform Guides, Tutorials, Webinars, Tradingfloor.com, Trademaker, FX Tools, Widgets.
Bonus and Promotion:
No Deposit BonusNo
First Deposit BonusNo
Other Promotional OffersNo
Company Information :
Headquarter InDenmark
Established Year1992
Regulating AuthorityDanish Financial Supervisory Authority, Banco de España, FSA, Monetary Authority of Singapore, Swiss Federal Banking Commission, Japanese Financial Services Agency
Websitewww.saxobank.com
US Clients AcceptedNo
Customer Support LanguagesLive chat, Telephone, Fax, Instant Messenger, Chat function in trading platform
Support byLive chat, Email, Telephone, Facsimile