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Established in 1992 as a brokerage firm (under the original name of Midas Fondsmæglerselskab, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt), Saxo Bank was one of the first financial institutions to develop an online trading platform. It provided ordinary investors with the same tools and market access as professional investors.
With an EU-regulated bank headquartered in Copenhagen, Denmark, Saxo Bank has a strong international network. It has local offices in 25 countries across Europe, Asia, Australia, South America, Africa and the Middle East.
Saxo Bank serves clients in more than 180 countries, and their trading platforms are available in 25 different languages.
Saxo Bank’s platform facilitates online trading of over 30,000 instruments, including bonds, futures, FX, CFDs and stocks.
In terms of the stocks available, Saxo includes over 3,000 ETFs. Prices for exchange traded products are delayed unless the investor subscribes to the live feed, however this is of less relevance to long-term investors.
Saxo Bank provides two different trading platforms for traders:
SaxoTraderGO – for the mobile trader and investor - and it’s most appropriate for retail investors.
SaxoTraderGo is a cross-device platform, allowing you to trade on many devices from your Saxo account. It’s geared towards investors and traders on the move.
Settings and preferences migrate seamlessly. With it comes comprehensive market research, news and an economic calendar.
It also provides access to the Saxo Academy, where traders can take advantage of a host of different educational programs. There is a comprehensive range of courses, so much so they take up more than two pages to list! There are basic lessons on each of the different types of assets offered at Saxo Bank, such as Forex, stocks, bonds, CFDs and even futures.
Courses consists of a basic lesson, explainer video, a getting started guide and a quiz on the material presented.
The platform is based on HTML5, which makes it fast and easy to use. The investor’s position is easy to view.
The minimum investment is $10,000. Saxo Bank charges commissions on trades – normally about $15 equivalent, which is where it generates most of its revenue.
Underlying this, custody charges of 0.12% p.a. with a monthly minimum fee of EUR 5.00 will apply. Transfers of stocks to your account outside Saxo Bank incur a €100-€160 exit charge, and no trades for 6 months will mean you incur $100 equivalent inactivity charge.
SaxoTrader – for the professional trader
SaxoTrader is a fully customisable, comprehensive professional desktop platform. It offers:
Ultimately, it provides a full suite of trading tools and facilities, built for speed.
The answer is - pretty much anything!
Equities – 19,000 stocks on 36 exchanges
Equity Options – in markets throughout the US, Europe and Asia Pacific
ETFs and ETCs – 3,101 ETFs and ETCs on 36 exchanges worldwide
Futures 200+ Futures spanning 22 global exchanges, in a wide range of asset categories
Contract Options 75 Contract Options in many asset categories including metals, energy and interest rates
CFDs 9,000 CFDs covering Single Stocks, Indices and Commodities
FOREX 182 FX currency pairs traded as Spot and 140 as Forward Outrights
FX Options Puts and calls in 40 currency pairs - including Gold and Silver Bonds 7,000 Bonds from 26 countries and in 21 different currencies.