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SaxoBank review

SaxoBank


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 5482)

Web-site: SaxoBank

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.
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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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Author of SaxoBank: Ami | Date 2016-08-01
i want to tell you my bad experience with this broker. They have very very bad customer service. they don´t solve customers problems and don´t answer to your questions. I experienced many issues, fees are very high. Too expnesive broker. You spent all your Money paying fees, commissions and spreads.
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Author of SaxoBank: Cape | Date 2016-07-11
The worst broker I have ever experienced. They change lot size on their own leading to losses. They square off positions of their own even if that is hedged position. I lost $500 with them. Please stay away from them
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Author of SaxoBank: fxsemui | Date 2016-06-27
This broker is very bad. services, the program is also very bad. many have already proved that this broker is a broker that is very disappointing. I would never want to join again. I give up all the money I got for this broker. I hope those who want to join must think again. Do not till you regret as I am now.
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Author of SaxoBank: Enrique reyes | Date 2016-06-14
SaxoBank didn't created any problem with their trader, they are just a perfect broker for me and others. No worries during news times because the spreads remain the same and of course no hiccups.
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Author of SaxoBank: Andrew | Date 2016-04-18
Saxo bank is a market maker with typical trading conditions, but solid license, that will make you trading more secure, but not easier. Besides it, they have a company on Cyprus, so many clients trade with branch, that makes trading even more risky. Moreover, It's the only broker that make its clients to pay after Swiss shock. I advise to choose not only regulated brokers, but also ECN, without conflict of interestes. If you don’t know whan companies to choose, add me in skype, vovkfx, i will help you to solve this problem.
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Author of SaxoBank: Fxgrey | Date 2016-04-05
I think that minimum deposit is very high. The support is not really good and helpful. they don´t solve problems and don´t answer to mine questions.
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Author of SaxoBank: Gift | Date 2016-04-04
Most of the representative of this company are not knowledgeable enough. It took me one to get a proper response from them.
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Author of SaxoBank: Richie FX | Date 2016-04-01
A serious regulated broker, which provides certain feeling of security, which you don’t get from an offshore broker. Hence, the requirement for account size is as big as it is. So far I’ve had no problems and the customer support has been helpful with all of my questions.
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