All your personal settings, watchlists, orders and positions are synced with SaxoTraderGO, allowing you to trade anytime from a single account. If you are a client, you have access to their SaxoTraderGO platform. However, the platform, SaxoTraderGO, is web-based and you can access it without any download.
- Saxo bank withdrawal options are well organized, by far most used Bank Wire is available, also Card payments.
- Government Bonds are a bit more expensive, with European government bonds having a minimum of €80, based upon 0.20%.
- Higher account types will require more money at the start, $200,000 for Platinum and $1M for a VIP account, which concludes Saxo Bank as a true broker more suitable for professionals and bigger-size traders.
- SaxoTraderGO represents an excellent trading platform for manual traders, while automated trading solutions are not supported.
- Saxo Bank clients trade on the proprietary trading platforms which are sophisticated, fast and efficient.
- The professional service comes with a high cost with higher than average minimum deposits.
A confusing array of fee schedules and hidden costs can also make it difficult to estimate bottom-line costs. Additionally, Saxo offers clients the option to build bespoke applications via APIs, both its own OpenAPI and third-party saxo bank broker review API (Excel, etc.), that can access Saxo’s data feeds. On top of all this, clients can also access third-party applications, such as TradingView, Dynamic Trend, and MultiCharts, to assist them in their trading.
Best Forex Brokers Italy for 2023
It became the first Danish broker to gain approval under the European Investment Directive which came in effect 1996, Saxo Bank received approval on May 2nd 1996. While Saxo Bank has a full banking license, it doesn’t carry out traditional banking business and is focused on brokerage activities as well as White Label Partnerships. In fact, over 100 financial institutions are White Label partners and service their clients through the Saxo Bank platform. It has also offered partnerships to other banks which include Standard Bank, Old Mutual Wealth, Banco Carregosa and Banco Best.
To learn more about country-specific regulations and restrictions (and to discover our data-based picks for the best brokers by country), check out our country guides. Analyzing our 1,178 data points for our platforms & tools category, the average forex broker has 12 of the 19 features we track for desktop web platforms. Saxo Bank received an overall rating of 10/10 in the platforms & tools category, contributing to its overall category ranking of #1 out of 62 brokers overall. 92% of the brokers in our database (60+) offer Visa/Mastercard, 78% offer Skrill, 70% offer Neteller, and 44% offer PayPal. PayPal has become a popular funding option for many forex traders – find out which brokers support it as a payment method by reading our PayPal guide for forex traders. It is offered as a free download and is compatible with iOS and Android devices.
Saxo Bank is a market maker and ECN broker depending on trading instruments. As for Saxo Investors which is a user-friendly case-product platform tailored to retail investors, there are several advantages including browsing curated themes and pre-made screenings. Also, clients can choose between diversified investment portfolios. SaxoTraderPRO is Saxo Bank’s advanced trading platform – and is said to be suitable for high-volume, active traders (we recommend reading the expert verdict). Still, all traders can open a 30-day free demo account to try out the broker. If you download this proprietary trading platform you will have an account overview to help you manage or analyse performance.
If you are located in the USA, you may want to consider IG as an alternative or see our best USA brokers for some other options. As required by the regulatory authorities, clients’ funds are held in segregated bank accounts and clearly separated from Saxo Bank funds. A monthly audit report is submitted to the regulatory authorities like FCA. Our team of industry experts conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels.
About Saxo Bank
As a result, investors may be based in countries where Saxo Bank has no office or only a representative office or local branch. Saxo Bank is regulated in multiple jurisdictions, all of which are in developed markets that have stringent standards. As noted, there is also a lot of information on Saxo Bank’s platforms that can help you make your decisions here.
Forex Risk Disclaimer
Saxo has an impressive roster of in-house analysts who provide regular market updates, ratings, and timely commentary. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
How To Find A Broker For Safe Trading?
You should consider whether you understand how CFDs, FX, or any of its other products work and whether you can afford to take the high risk of losing your money. About 64% of retail investor accounts lose money when trading CFDs with this provider. Saxo offers over 35,000 financial instruments from a single account. This includes Forex, Forex options, CFD markets, stocks, listed options, commodities, ETF markets, futures, and bonds.
It is also easy to miss fine print that adds a separate surcharge on small trades, raising the potential for confusion. Unfortunately, the SSMCS does not provide a list of authorized forex brokers; however, residents can contact the SSMCS directly to verify authorisation. To find the best forex brokers in Ukraine, we created a list of all brokers that list Ukraine as a country they accept new customers from.
This really is professional trading platform so may seem overwhelming at first if you are new to trading online. If that is the case, you can always take a look at our best brokers for beginners or consider using the popular MetaTrader 4 platform instead, which we will get onto next. Saxo Bank is an online trading platform that provides secure features.
SAXO BANK TRADING PLATFORMS
SaxoTraderPRO is a powerful multi-asset proprietary trading platform designed for desktop use. It allows you to arrange up to six screens, creating a comprehensive trading environment. Still, Saxo Bank provides a comprehensive range of charting and trading tools, including API support for advanced chart analysis.