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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 5485)

Web-site: SaxoBank

Author of SaxoBank: Gretch | Date 2013-05-01
Stop/loss, take/profit positions are closing with serious problems and shortening profit!!!
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Author of SaxoBank: Shiloh | Date 2013-04-29
I don't understand, why their spreads depends on the trading platform?
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Author of SaxoBank: Cellfx | Date 2013-04-28
I can not admire this broker . Execution on Real trade is too slow It is all different from Demo trade . You will know it If you experience Real trade once . Scalping trade is hardly possible . It cost much to remit the fund by the wire transfer .
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Author of SaxoBank: Alanis | Date 2013-04-26
The withdrawal speed is very fast and I received my money within 1 hour only after I made a request to them. That was so amazing!
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Author of SaxoBank: Pakash | Date 2013-04-25
The trouble with Saxobank is that you can never set stop losses within 20 pips of the current price. This means that you usually have to risk more than you expect to make on each trade. Also, it makes it hard to lock in profits and let a winning trade ride. As a newbie, I didn't see a problem with this, but now I realize it's a recipe for disaster. Other problems include the fact that you have to set up your charts and indicators FROM SCRATCH every time you log in (frustrating and time consuming), and the spreads are very wide for most currency pairs. Too often has Meta trader told me that I should have easily hit my take profit price, only to discover that the price according to Saxobank has missed by a few pips then reversed for a loss.
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Author of SaxoBank: Tropapips | Date 2013-04-24
I start trading with Saxo for about 3 weeks back or so and my experience was horrible as I ended up losing about $ 500 in 3 days time. First and the foremost thing there customer service is horrible they just call you and pester you to deposit funds. Once you have deposited funds they stop calling you and stop responding to your calls. Second thing there trading signals are completely wrong and they also you charge you for it without notifying you. So take my advice if you want to save your money don't trade with them
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Author of SaxoBank: leorio | Date 2013-04-23
I dont usually give reviews to brokers but i will now with Saxo as their support was excellent when i needed help with some documents. Proffesionalism is the key factor for me when i rate services.
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Author of SaxoBank: Madonna | Date 2013-04-22
I just raised some issue with them and was promised that programmers will look into it, just curious to see how prompt will they react in order to fix it.
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Author of SaxoBank: Charles | Date 2013-04-22
Worst customer service! I don't like their platform because its too basic! I won't learn something new from them!
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Author of SaxoBank: Faye | Date 2013-04-21
Too big spreads on mini account and on normal account as well. Difficult to set up stop loss and take profit, takes several clicks, and sometimes if you adjust stop loss/take profit, they "debit" your account for it.
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