This matters because the amount of protection you're eligible for differs from entity to entity. The fee consists of: Similarly to mutual funds, SaxoSelect is available only in certain countries, like Germany, Denmark or Poland. Saxo Bank Stock Trading Review: Share trading account Get access to more than 19,000 global stocks. At Saxo, funding is supported in 18 different currencies while your money is kept safe in segregated trust accounts and protected by different compensation schemes. Portfolio and fee reports are transparent. For example, if you are searching for tech companies in the US with a P/E of less than 15 and a market cap higher than $1 billion, this is basically a two-click exercise on the screener. }. The majority of Saxo Bank's research tools can be found on its various trading platforms. "worstRating":"0" When you open the order panel, you will be shown a 'Trade Ticket' that lists a lot of useful information, such as costs or margin requirements. We analyzed the fees of Saxo Bank UK. These losses can even exceed the deposit made to Saxo. Futures fees are mostly the same as options fees, the only exception being CHF, where the fee is CHF 8 for futures, double the rate charged for options. In extreme volatility, the currency pairs and CFDs markets can move fast. Credit/debit card withdrawal is not available in some countries, check Saxo Bank’s website for a complete list. The minimum fee is very high at €80. methodology, independent from partnerships we have. For non-UK clients, the inactivity fee is $150 after six months (180 days) of inactivity. While a core feature of the account is the low spreads, the other elements are: This account is designed for advanced traders, which is why the requirement for funding this account is $200,000 minimum deposit. The key areas of this Saxo Capital Markets review were on their currency trading offering. Professional clients are not covered by negative balance protection. Profound review of Saxo Bank: From company info to user reviews, pros & cons and walkthrough of the trading platforms. This provides forex traders with great control and near-zero asymmetric slippage occurring. some of the brokers. Saxo Bank provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union and some other countries from the MENA region. Saxo Bank A/S is a fully licensed and regulated Danish bank with an online trading platform that empowers you to invest across global financial markets. While higher leverage increases exposure to markets and increases risks of CFDs and forex trading, it can be a core requirement of a trader. The number of available mutual funds lags behind competitors, especially Swissquote. Saxo Markets provides individual investors and traders with an excellent platform for investing in a variety of markets at a relatively low cost. Depending on what asset you trade (and in what volume), you can receive points (ranging from 30 to 110) after each trade. Now, let's see a breakdown of the different asset classes. This helps minimise spreads that exist when a forex broker sources just one or two sources for a buy/sell rate. Equities / ETFs / Funds / Bonds / Options / Futures, Best trading platform in web, mobile, and desktop, I acknowledge that my information will be used in accordance with the. From stocks to CFDs, you will find everything. Yes, it is regulated by several financial authorities, like the Danish Financial Services Agency (FSA), the Financial Conduct Authority (FCA) and the Swiss Federal Banking Commission, among others. There are also several order time limits available: We also liked Saxo's fee transparency. "itemReviewed": { However, customizability has its limits; for example, you can change the size of various tabs but not their relative positions. To explain leverage further, in a scenario where the minimum Saxo classic account is made of $10,000, the trader can effectively trade $300,000 worth of currency on forex markets at a 30:1 leverage. Mutual fund issuers covered by Saxo include many well-known names such as BlackRock, Franklin Templeton, Pinebridge or Janus Henderson. We ranked Saxo Bank's fee levels as low, average or high based on how they compare to those of all reviewed brokers. The minimum funding varies based on account tiers and jurisdiction. This platform … Each month we update average spreads data published by the brokers the retail brokers lose %, We double-check broker fee details each month which is made possible through partner paid advertising. "bestRating": "5", He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. The total number of these assets exceeds that of competitors. In the case of Saxo Capital Markets, the leverage rate is as follows: This is low compared to other leading forex brokers as shown below. This is set a neutral price via a large inter-bank venue. Funding can take 1 to 5 business days depending on the deposit method. This includes the ability to trade across 182 forex spot pairs, over 140 forwards and +40 FX vanilla options. Unlike most brokers, Saxo bank charges a holding fee for long positions held overnight. "image": "https://www.compareforexbrokers.com/wp-content/uploads/2019/12/Justin.png", ... Its trading platform is known for its top-quality trading tools and for having some of the lowest fees when it comes to global share trading… Copyright 2021 and all rights reserved. If you’re happy to have funds locked in an account, then funding requirements won’t be an issue. You can lose all of This review is aimed at giving a detailed description of Saxo Bank as a brokerage company. The Saxo Group is a multi-asset trading and investment organization with over 25 years on Fintech innovation, a fully licensed regulated European bankunder the supervision of Danish FSA. Summary Of Saxo Capital Markets Trading Platforms Our Saxo Capital Markets Australia review found it was strong in this category but lost points for the lack of mainstream … FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January 2021. Below you can review the different types of CFD trading commissions charged across the 3 main Saxo trading accounts. The broker has been in business since 1992 and it was originally started as an investment bank … At Saxo, you can trade cryptos through exchange-traded notes (ETNs). Each has distinct advantages over each other, with one designed more for mobility across mobile and tablet while the other is designed for trading power. "@id": "https://www.compareforexbrokers.com/reviews/saxo-capital-markets-review/" Both Saxo trading platforms don’t require subscription costs with the PRO platform recommended on desktops with multiple screens, while the GO account is for everyday traders. Saxo Bank charges no deposit fees. Online brokers compared for fees, trading platforms, safety and more. Overall, our Saxo Capital Markets review concludes that the Denmark-based forex broker offers all the trading tools and a wide range of financial products to accommodate the needs of all types of traders. The minimum deposit is relatively high, ranging between $600-10,000, depending on your residency. Which is why our team of investing professionals took a snapshot of Saxo’s margin requirements for both professional traders and retail traders as shown below. Saxo accepts clients from all over the world with some exceptions. This can be quite significant if you hold the contract for a longer time. You can also use a chatbot, which is like an intelligent FAQ. Saxo Bank is a fully regulated European Bank that can act as your bank as well as an online broker. I had trades outstanding and thought of continuing with one trading platform but it seems so difficult to trade using Saxo … Extend your trading capabilities by executing trades from one of our partnership platforms. "name": "Saxo Capital Markets" You will find 50 technical indicators and can add many editing tools, like trendlines or Fibonacci tools. If you want to learn more about crypto trading, check out our article on how to invest in Bitcoin, Bitcoin ETNs, CFDs and futures. SaxoSelect is a robo-advisory service where you can select an investment theme and let Saxo build a portfolio for you. This platform has won Saxo Capital Markets awards based on reliability, execution speeds, and functionality across devices. By trading with securities and derivatives you are taking a high degree of risk. This is then converted to a buy/sell level which will be triggered automatically when achieved. "MainEntityOfPage":{ SaxoTraderPRO is suitable for use by advanced traders and institutional clients, which trade faster via quick-close all features and view exchange order books and execution reports in real … Saxo's phone customer service is available only from Monday to Friday between 9:00 am and 5:30 pm local time in 16 offices worldwide. It provides a two-step authentication. Online registration takes only 10-15 minutes, but the account verification is a bit slower. But if you don’t like funds tied up any account, then you should consider other forex brokers who have a minimum deposit as low as $50. There is no web-based version with features including: Our Saxo Capital Markets Australia review found it was strong in this category but lost points for the lack of mainstream options such as MT4 and cTrader. The carrying cost is calculated on the basis of the daily margin requirement and is applied to positions held overnight. For example, in the case of stock investing, commissions are the most important fees. Saxo uses a wide range of ‘tier 1’ banks and other sources from market-making firms to ECNs to ensure traders receive the best possible price. This selection is based on objective factors such as products offered, client profile, fee structure, etc. The product portfolio covers all asset types and many international markets. This is called negative balance protection and should be considered if your risk tolerance is low. He has worked with some of the largest insurance and banking organisations both in the United Kingdom and Australia. Interest will be charged at market ask rates plus 8% when delays occur in repayment. { Custody fee is a Value Added Tax (VAT), Proof of identity: national ID card / passport, how you are protected if something goes wrong. At Saxo Bank you can learn in the following ways: You can use a demo account to familiarize yourself with the platform. For a better understanding of crypto ETNs, check out our crypto blogpost. If this trader placed these funds on the AUD/USD and a movement of just 0.2% occurred, they would make a profit/loss of $600 (10% of their deposit). We tested withdrawal via bank transfer and it took 1 business day. You can run up to six windows simultaneously and create your own trading environment. Other share related services are over 3,101 ETFs, ETCs and ETNs and they also offer over 1,200 listed options. For example, you can narrow down stock search results to specific countries, or filter forex search results for major currency pairs. Saxo's banking license, oversight by top-tier authorities and regularly disclosed financial data are all great markers of Saxo's safety. A convenient way to save on currency conversion fees is opening a multi-currency bank account at a digital bank. Breaking down the three accounts further: As mentioned above, the minimum funding required of the classic account is $10,000. As a MAS regulated share trading broker, they’ve been … 001274082). Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. "headline": "Saxo Capital Markets", Top Takeaways … Saxo offers mutual funds only in certain countries, like Germany, Denmark or Poland. You can add multiple base currencies to your main account - to add a new one, initiate an automatic sub-account creation in the desired currency. We also compared Saxo Bank's fees with those of two similar brokers we selected, Swissquote and DEGIRO. ", but can't answer specific queries. Mutual funds are available only in certain countries. Lastly, there is no live chat or 24/7 customer support. Saxo Bank has a Danish banking license, and as such it is subject to tougher regulations than brokers without a banking background. "dateModified":"2020-05-16", I selected Saxo Bank based on good score in trading platform reviews on the internet. It's recommended if you don't want to manage your investments on your own or simply need to gain some confidence in investing. I have been actively trading now for 6 weeks, and so far everything has been great. For Saxo professional clients: 66:1 for forex trading and 40:1 for CFDs trading. The currency conversion rate is calculated as the mid FX spot rate +/-1%. Leverage varies and for the US 500 is 40:1 with spreads of 0.4 points. We consider 25 years of operation a solid track record. You can only withdraw money to accounts in your name. The historical profit/loss balance and costs paid are clear and easy to track. Saxo's account opening is fast and fully digital. Saxo does not offer this feature. In this review, we tested Saxo Bank UK. }, "publisher": { The fee structure is volume-based, but there is a minimum fee. To deposit funds, you can make a bank transfer or use credit/debit cards, but electronic wallets are not available. In our Saxo Capital Markets review, we only found that forex traders can make a deposit or withdraw funds from the Saxo Bank account via the following methods for transferring money: Additionally, Saxo Bank supports a limited range of funding currencies. One slight drawback is that you can't filter news by assets. The interactive chart function is great and user-friendly. "@type":"WebPage", Everything you find on BrokerChooser is based on reliable data and unbiased Unlike most brokers, Saxo bank charges a carrying cost for overnight positions in futures. Quarterly outlooks provide an in-depth analysis of potential market movements. In the sections below, you will find the most relevant fees of Saxo Bank for each asset class. This is especially true when using automated trading, which can require micro-moments to enter and exit the market. There share trading offering won “Outstanding Value International Share Trading” in both 2017 and 2018. You can trade leveraged products with Saxo Bank on more than 9,000 CFD instruments including shares, indices, bonds,  ETFs, commodities and index options as shown below. I have been using Saxo Bank's trading platform SaxoTraderGO for 3-4 years soon, several times there has been price manipulation. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In terms of the deposit and withdrawal methods, Saxo Bank offers only a limited number of payment options. Saxo Bank is a great broker, providing a complex and good service. Saxo's mutual fund fees are low. You'd need 120,000 points for a Platinum, and 500,000 for a VIP account upgrade. In this Saxo Bank review, you’ll find everything you need to dispel any doubt, including our feedback on Saxo Bank, both practical and technical, after years of experience on the platform. Each window is customizable in size and position. You can trade on major markets, such as US stock exchanges or Deutsche Börse, and on smaller markets like the Prague Stock Exchange or the Warsaw Stock Exchange. Financial Conduct Authority FCA (License number 551422), Swiss Financial Market Supervisory Authority FINMA (License number CHE-106.787.764), Japanese Financial Services Agency (Registration Number 239), Australian Securities and Investments Commission ASIC (Registration Number 126 373 859). You will find both current and historical data. For Saxo retail clients: 30:1 for forex trading and 20:1 for CFDs trading. The platform's user-friendliness falls short of the web trading platform. To get things rolling, let's go over some lingo related to broker fees. You should only consider a different forex broker if you require high leverage, risk management tools, or require a low minimum deposit. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee. It’s not unique for a forex broker to offer more than just currency trading, with most also offering CFDs trading. The fee is charged if you only hold cash funds in your account. The one downside of Saxo Markets is the pricing, which is substantially higher than most UK competitors. This account type advertises tighter spreads and commissions. See the relevant sections above for details. Our devoted team of investment and business professionals believe that a full Saxo Capital Markets review must include the full spectrum of the online service offered by the Danish broker. You can buy and sell both domestic and international shares as well as trading currency pairs and CFDs with their award-winning trading platform. A guaranteed stop-loss order is exactly the same amount as above, but the forex broker guarantees the exit level. }, For UK residents, this is an annual 0.12% of open positions with a minimum of  €10/month. In addition, there is a trading signal tool, which gives you a buy or sell signal based on technical indicators. The trading fees of stock index, commodity, forex, and bond CFDs are built into the spread. I’m shocked at the ignorance of Saxo staff. In comparison with Swissquote, Saxo Bank has lower forex fees, while DEGIRO doesn't offer forex trading at all. To be certain, we highly advise that you check two facts: Saxo Bank operates globally through ~10 different entities. What separates Saxo is their domestic and international stockbroking services. Fees vary depending on the currency of the underlying product: Similarly to options, Saxo Bank charges high fees on futures. This means that you can’t lose more than the amount set providing peace of mind. To test the deposit process, we sent money from our Revolut account and it arrived instantly. In-fact, any leveraged product such as CFD trading has risks, which is why risk management tools are recommended. However, you can also use other, third-party platforms for trading or managing your portfolio. Features like quick close, margin breakdown and cancel all orders are unique to Saxo. If you prefer trading on margin or short sale, the only way to do it is by trading CFDs. This can lead to losses exceeding the amount set on the stop-loss order. You should start trading only if you are aware of this risk. It’s web-based with full functionality across desktop, mobile app and tablet devices with: Below shows six additional features Saxotrader Go offers FX traders. With a funding requirement of at least $1,000,000, this account type is geared towards the high-net-worth individual (HNWI). You can unsubscribe any time from within the email. ... Review the margin requirements for leveraged trading. Compare the best UK Forex brokers regulated by the Financial Conduct Authority (FCA) here: Top 10 FCA Regulated Forex Brokers. "@type": "Organization", How long does it take to withdraw money from Saxo Bank? Many traders look to trade small amounts and require a low minimum deposit by their forex broker. Saxo Capital Markets processes all withdrawals the next business day without any additional withdrawal fee. The best thing you could is to open a free demo account to try out first-hand the Saxo Bank platforms… Offers is the contract for difference ( CFDs ) is competitive, but the minimum deposit varies depending your... Desktop version offers more advanced customizability a digital Bank are based on your phone clients, the lower spreads! Masters, Honours and Undergraduate degree in Commerce from Monash University % a day index-tracking... Any given position limits ; for example, the only way to on... 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Securities and derivatives you are not available in an account only takes a few minutes on phone...