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REVIEW SUMMARY

Saxo Bank

Established in 1992 as a brokerage firm, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt, Saxo Bank was one of the first financial institutions to develop an online trading platform. 

Saxo Bank launched one of the first online trading platforms, making professional-grade tools and multi-asset market access available to everyone in 1998. It provided ordinary investors with the same tools and market access as professional investors.

Saxo Bank adheres to strict regulatory requirements in in 15 jurisdictions, including Denmark, the UK and Singapore.

Overview
FAQ
Customer Reviews
Expert Verdict

Saxo Bank serves clients in over 120 countries, holds USD 16 billion assets under management and processes 125,000+ daily executed trades.

Saxo Bank A/S is a fully licensed European bank under the supervision of Danish FSA. Saxo Bank A/S is subject to stringent financial reporting requirements under EU directives and specific regulations regarding client handling.

All platforms are available with a single Saxo account.

The two types of platforms Saxo Bank offers are:

  1. SaxoTraderGO
  2. SaxoTraderPRO

SaxoTraderGO key features include:

  • enhanced trade tickets,
  • fundamental and technical analysis tools,
  • extensive charting package,
  • options chain,
  • performance analysis
  • and comprehensive account overview.

The asset classes under SaxoTraderGO include: Access stocks, mutual funds, ETFs, bonds, forex, CFDs, futures, commodities, forex options, listed options, trading strategies and managed portfolios.

SaxoTraderGO is free to set up with no monthly platform subscription fees. However, some features – such as level 2 market data – require a subscription.

SaxoTraderPRO is Saxo Bank's fully customisable, professional-grade platform.

SaxoTraderPRO key features include:

  • algorithmic orders,
  • one-click trading,
  • options chains
  • and charting packages.

It also allows you to analyse your performance in detail with Saxo Bank's revamped account section.

The asset classes under SaxoTraderPRO include: Access stocks, mutual funds, ETFs, bonds, forex, CFDs, futures, commodities, forex options, listed options, trading strategies and managed portfolios.

SaxoTraderPRO is Saxo Bank's advanced trading platform, suitable for high-volume, active traders.

Small, medium-volume traders, or long-term investors, may find their web-based platform – SaxoTraderGO – more suitable.

NOTE:

  • You can connect your Saxo account to a third-party platform to access custom tools that suit your specific trading requirements. Available features include asset-specific analysis tools, advanced strategy backtesting and hyper-responsive charting.
  • Saxo Bank's platform also allows you to gain market access through a fast, flexible and fully-documented electronic infrastructure and receive tailored multi-asset liquidity via FIX API.
  • The key attraction of this platform is the low custody charge and monthly premiums compared to other options.
  • You can learn more about their prices here.

 

 

The Pros

> Wide range of investments
> Fewer trading charges
> Saxo Bank rates exceedingly high in customer service
> Consistent focus on simplicity
> Good research tools
> Interactive mobile app

The Cons

> Complex choice of instruments
> No advice
> Inactivity fees
> High bond, options and futures fees
What is the in-depth research hub provided by SaxoTraderGO?

The in-depth research hub is meant to inform your trading with curated research content, including news, SaxoStrats analysis, price data, trade ideas and educational material.

This includes:

  • Asset specific news and analysis: Whichever market you trade you can quickly see the main instrument moves, latest news and gain trading inspiration.
  • Global Sales Trading market updates: See live market updates and commentary from their experienced Global Sales Trading team.
  • Relevant insights direct to your phone: Be alerted to any sudden price moves or important actions which may impact your individual positions.
What are Saxo Bank's platform risk-management features?

Saxo Bank offers tools to manage risk and control positions. These include:

1. Account shield:
The account value shield acts as a stop loss on your entire account value. If triggered, it will close all your open positions (except bonds and mutual funds holdings) and cancel all orders.

2. Stop orders:
Protect your positions from adverse market moves with trailing stops and stop-limit orders.

3. Cancel all orders:
Cancel all orders, or just those within an asset class, with a few clicks.

4. Margin breakdown:
Easily monitor the margin utilisation for each instrument.

5. Margin alerts:
Set custom margin alerts to receive pop-up and push-notifications.

6. Quick close positions:
Close all FX and CFD positions, or just those within an asset class, in two clicks.

 

Is there a web-based version of SaxoTraderPRO?

SaxoTraderPRO is a downloadable application only.

However, the award-winning platform, SaxoTraderGO, is web-based and can be accessed through any browser with no download necessary.

Is there a SaxoTraderPRO mobile application?

As a Saxo client, you have access to their SaxoTraderGO platform, which is optimised for mobile, tablet and single-screen laptops.

It also offers native applications for iOS and Android.

All your personal settings, watchlists, orders and positions are synced with SaxoTraderGO, allowing you to trade wherever, whenever, from a single account.

Can anybody use SaxoTraderGO?

Yes, SaxoTraderGO is suitable for traders of all experience levels, and is the preferred platform for the majority of Saxo Banks clients.

Advanced traders may also wish to leverage their downloadable, multi-screen trading platform, SaxoTraderPRO.

Is Saxo Bank regulated?

Yes, Saxo Bank 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.

Saxo Bank is based in Denmark and was founded in 1992.

Good but not great

Saxo is probably the best trading platform we currently have in Denmark. Low fees and ability to trade options.

However, the app web version is very unstable and often froze for me. The SaxoTraderPro platform is fairly good and customizable but it def. lacks some UI effort compared to Nordnet.

Expert assessment of Saxo Bank

If you were to invest in low cost ETFs as part of a passive strategy for the long term, you would benefit from fewer trading charges.

The key attraction of this platform is the low custody charge and monthly premiums compared to other options.

Although you would have to make a nominal trade every six months to avoid the inactivity fees, this platform provides a very cost-effective investment solution overall.

This platform is not available to US citizens or a handful of Canadian citizens depending on their area of residence.

Overall, Saxo Bank provides an excellent investment platform for those investors who are comfortable making their own investment decisions, can resist the natural temptation to make investment mistakes, and who do not need sophisticated facilities for wealth structuring.

For a Second Opinion on investments of approx. £250,000 or more, contact us today.

Saxo Bank - SaxoTraderGO Guide

Saxo Bank - SaxoTraderPRO Guide

Saxo Bank - CFD Trading Guide

Saxo Bank - Options Trading Guide

Saxo Bank - Company Fact Sheet

Saxo Bank - How To Trade Forex on SaxoTraderGO Retail

Saxo Bank - Order Execution Policy

Saxo Bank - Futures Contract Specifications

Saxo Bank - FX Vanilla Options Factsheet

Saxo Bank - FX Touch Options Factsheet

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