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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 8/10 (votes 4435)
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Author of SaxoBank: Paulpip | Date 2017-12-29
SaxoBank is a reliable broker, with nice trading conditions and real time prices. The broker is not manipulating the prices during volatility times. I have another two friends as their clients which they recommend me the broker and they are also very pleased with their services. I deposited 2000$ and after 3 months I doubled my initial deposit. I trade during day time on MetaTrader 4 using major currency pairs, Gold and shares from Apple and Google.
Author of SaxoBank: Roland | Date 2017-11-07
Most often, I trade Euro pair especially when I scalp for short-term profits. Saxobank has tight spreads and easy withdrawal. The platform also works fast and doesn't lag whenever I trade.
Author of SaxoBank: Ninla | Date 2017-10-19
SaxoBank is great dealing with their clients. I referred 2 friends to SaxoBank and they are all impressed especially with their support group. Very professional and most of all, dependable. Problems are getting solved asap. SaxoBank technical support can be reached any time, and problems in their platforms are being fixed immediately.
Author of SaxoBank: StacyPip | Date 2017-10-02
I traded with Saxo bank for the past 4 months after I tried their demo account and I liked the trading conditions. The platform MT4 works fast in execution with real time prices and no re-quotes. I have a standard account and I trade with them major currency pairs EUR/USD GBP/EUR, EUR/CHF, USD/JPY and Gold. I had one problem with some positions closed during the night and after I spoke with the support team they re-opened them and I had also my money back. I make more the 600$ a month, with a peak of 800$. The withdraw process is easy and there aren't hidden commissions.
Author of SaxoBank: helvina | Date 2017-08-23
Wow! My withdrawal request via Wire transfer just got approved today! I am surprised because I thought this company won't accept withdrawals more than $200. Apparently, I was wrong because my request was accepted after I passed the highest level of account verification today. Anyway, the money that I requested to withdraw was from my earnings last week. I tried the CFD trading: the NASDAQ & NYSE, Germany 30 and US 500 and my trading method was very effective. I earned a lot when I closed all my deals after 45 minutes whilst connecting to the trading server that's closest to my country. The execution of my orders are very instant. Imagine, they honored my orders in less than 5 seconds without any lags. Because of this, I am planning to leave my work and focus in my investments here. It's very easy to make money on Forex market as long as you have knowledge of what you are doing.
Author of SaxoBank: Jean | Date 2017-08-01
SaxoBank trader offers different types of platforms I use the web version of Saxo Trader, the SaxoWebTrader 2.5 it´s awesome, this broker is excelent for the ones who want to trade with future, options and bonds. It´s spreads are variable it can be up to 2.0 to EUR/USD, and this keeps them lower, which is an advantage for me depending on the pair. The execution is fair 1-3 seconds, and payments options listed is wire transfer, for me secure for depositing such amount they require in their minimum deposit. So far, I am not disapointed with this broker.
Author of SaxoBank: Tia | Date 2017-06-22
After trading with SaxoBank for 4 months, I made good earnings of $3000 so I thought it was time to withdraw $2000 and asked for a withdrawal by Wire transfer, but after 4 days I saw that my money wasn't in my trading account, so I contact to support department regarding this issue. They are so fast to solved my problem and just 6 hrs after I contact them, I got my money in my trading account. Even it has problem at first but with their kind support, I'm very satisfied with SaxoBank.
Author of SaxoBank: Rhinofx | Date 2017-06-02
I trade with SaxoBank for over a year but recently their services are very low and I closed my account with them. The platform has delays in execution 2-3 seconds, and the prices are manipulated by the broker. I had negative slippage almost each week 1-2 times. I trade EUR/USD, USD/JPY, USD/CHF, GBP.EUR, Gold and Crude Oil. My trading with them was ok, till 3 months ago, since I started to have trouble. I called them numerous times without success. Their put me on hold, or the support team answer is to wait a few hours and to restart the platform. I lost this 3 months 1300$. 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.
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