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SaxoBank review

On-line since: 1999
Country of origin: Denmark
Regulation: Saxo Bank is an officially registered European bank
Payment options: Wire transfer
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD

About the company:

SaxoBank was founded in 1992 by the Danish businessman. Originally the Company was called Midas, but it was changed to SaxoBank at the time the bank obtained its European license for banking in 2001.

SaxoBank specializes in online investments at the international capital markets and provides its clients with opportunity to trade with the wide range of financial tools, such as currencies, contracts for difference, futures, options and other derivatives, the Bank renders services on trust management also.

The trading is carried out online with the help of SaxoTrader program, which is the proprietary of the Bank. The thousands of investors and traders from more than 100 countries of the world are clients of the Bank. The client servicing is conducted from the Headquarters of the Bank in Copenhagen, and also from 12 offices, situated in the largest cities of the world.

SaxoBank 9/10 (votes 3743)

Web-site: SaxoBank

Comments Interested in other brokers?
Author of SaxoBank: Rhinofx | Date 2017-06-02
I trade with SaxoBank for over a year but recently their services are very low and I closed my account with them. The platform has delays in execution 2-3 seconds, and the prices are manipulated by the broker. I had negative slippage almost each week 1-2 times. I trade EUR/USD, USD/JPY, USD/CHF, GBP.EUR, Gold and Crude Oil. My trading with them was ok, till 3 months ago, since I started to have trouble. I called them numerous times without success. Their put me on hold, or the support team answer is to wait a few hours and to restart the platform. I lost this 3 months 1300$. I closed my account last week.
Author of SaxoBank: Uhaj | Date 2017-05-17
My impression with Saxobank is very positive. I was still a student who does this trading for a part time and I was glad that after my account has been verified, they assigned me an account manage and i also have access to deal with him always so he can help me to trade well. He was really professional and seem to know the market very well. Trading was fun, for now the experience that I got when trading is refreshing. I believe that most of the negative comments are coming from people who have lost money but don't realize that they participate in a very risky market. Therefore I strongly suggest you to try them out.
Author of SaxoBank: Paulfx | Date 2017-05-04
I am a client of SaxoBank for the past 7 months but I will close my account soon because they started to have problems with the servers and platform for the past 3 months. I called support team and also I tried to speak with managers via email but they just don't care about the problems or maybe just they are winning from manipulating the prices on the MetaTrader 4 platform. I had profit the first months and after that the profit was lower and lower. I deposited 2000$ and lost all that money, plus profit , plus time. My trading was usually only on major pairs EUR/USD, USD/CHF and USD/CAD. The worst thing was that I had some positions opened during the night and woke up the next day with a loss of - 325$. I am now waiting for approval to withdraw my last funds 885$ and I will close the account.
Author of SaxoBank: Mutiu | Date 2017-03-15
They are nothing but scammers, I have had a very bitter experience while trading with Saxo bank. After they successfully swiped off my money in my Saxo bank account through the manipulation of their platform I have not been able to have the remaining balance of $1100 out of $5000. I really want to know how to get my money from this broker, they are thieves, they caused me pains, they will not pay your money so trading with them is just wasting time and giving your money to robbers.
Author of SaxoBank: Hellen | Date 2017-02-08
Saxobank is solid in the market, their platforms MT4DMA is user friendly, quite good execution and competitive spreads specially to major pairs like EUR/USD. Also support is very attentious, I do not have bad things to say about this broker.
Author of SaxoBank: Kayode | Date 2017-01-25
Professional scammers,well trained to trap new traders, provide someone initially with good and nice recommendations, then, push someone to deposit more and more, then with no warnings,one lose all the money especially if they know that you want to withdraw, with one recommendation, you lose your money and fast, check them online, hundreds of complaints against them. I have nothing to do with this scammers, please my advice is stay away from Saxo Bank, they are market makers
Author of SaxoBank: Seo | Date 2016-11-07
I have been with SaxoBank for 1 year. The only headache is that theirs can be one bloated platform with bugs. They know it and they've been working hard at debugging it. Also the bid is 20-30 pips from S/L but when requesting funds, I received the greenback in 3 days, no glitches. In volatile markets, their spread increase a little but then again who in the market can guarantee small spreads in mad markets. Their client service is great and they speak many tongues.
Author of SaxoBank: mani mani | Date 2016-10-13
Saxobank has the best facilities I've come across. All the relevant information related to Forex trading is included in the reading and video materials. I really like the new website of this company. I have a corporate account with them and it's not easy to verify my account. This company requires a document with a complete signatories. One of the signatories in my docs was out of the country, thus, and when I told them about my concern, the staff told me to wait and my withdrawal request will be in queue until the documents got signed. It's very frustrating, but I don't have a choice. To be honest, it's the only problem that I encountered here. All the trading tools are working. It is possible to bookmark the combined charts. I always got an opportunity to buy shares with a very handsomeprices.
Author of SaxoBank: Enrique | Date 2016-09-26
Total scam!! Stop losses are always hit, often at "spike" that didn`t occur in real time. They also tamper with your margin, two times I got a margin stop out at night (forex) while the spotlevel did not reach the values at the time of the stop out. Helpdeskservice is very unfriendly and arrogant.
Author of SaxoBank: Jester | Date 2016-09-19
I have been client with Saxo Bank since 2006. I only lost money with them, but that’s not the point .I want to tell another story just had lately. my account was still left balance of $68. I emailed them that I want to withdraw my funds, then I had to download terminal again after longer period of time(no trading 1 year ). They also asked me for some indentity proof documents, because after longer period of no activity of my account. After few days, I got an answer with my login and password. I downloaded terminal again and logged in ....Imagine my balance was at =0 .00$ !! They even stole my $68 .First they show me that I still have left $68 and I knew it myself ,after they reset it to 0$...They are not really worth any more minute of mine .
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