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.
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.
All platforms are available with a single Saxo account.
The two types of platforms Saxo Bank offers are:
SaxoTraderGO key features as stated by Saxo Bank include:
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 said to be free to set up and has no monthly platform subscription fees. Although some features, like the level 2 market data would require you to have a subscription.
SaxoTraderPRO is Saxo Bank's fully customisable, professional-grade platform.
SaxoTraderPRO key features include:
Saxo Bank's revamped account section allows you to check and analyse account performance in detail.
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 - and is said to be suitable for high-volume, active traders (we recommend reading the expert verdict).
Small, medium-volume traders, or long-term investors, may find Saxo Bank's web-based platform – SaxoTraderGO – more suitable.
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
Saxo Bank's in-depth research hub is meant to help you make better trading decisions with curated research content, including news, SaxoStrats analysis, price data, trade ideas and educational material.
Saxo Bank offers tools to manage risk and control positions. These include:
1. Account shield:
Saxo Bank says that the account value shield acts as a stop loss on your entire account value. When it is triggered, it will close all of your open positions (except bonds and mutual funds holdings) and cancel all of your orders.
2. Stop orders:
Stop orders allows you to protect your positions from bad market moves with trailing stops and stop-limit orders.
3. Cancel all orders:
This allows you to cancel all orders with just a few clicks.
4. Margin breakdown:
Saxo Bank says that this allows you to easily monitor the margin utilisation for each instrument.
5. Margin alerts:
You can set up custom margin alerts to receive pop-up and push-notifications using this.
6. Quick close positions:
It allows you to close all FX and CFD positions, or just those within an asset class, by simply clicking twice.
SaxoTraderPRO is a downloadable application only.
However, the platform, SaxoTraderGO, is web-based and you can access it without any download.
Yes, Saxo Bank has applications for iOS and Android.
If you are a client, you have access to their SaxoTraderGO platform.
All your personal settings, watchlists, orders and positions are synced with SaxoTraderGO, allowing you to trade anytime from a single account.
Yes, SaxoTraderGO is suitable for traders of all experience levels, and is the preferred platform for the majority of Saxo Banks clients.
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.