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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 5471)

Web-site: SaxoBank

Author of SaxoBank: ForeKS | Date 2011-05-28
I 'm a customer of Saxo Bank and I found that their platform is great but the execution is frankly average. I use Saxo Bank for my stock trading only where it's quite ok. But I don't think that spreads are "giant", like someone says below here.
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Author of SaxoBank: Eli | Date 2011-05-10
Good broker, well regulated. The best they have a wide range of instruments. The worst is their charting system.
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Author of SaxoBank: Arnold T. | Date 2011-05-07
Very high spreads, if you is looking for small profits so they will eat all your profits. But still saxo is a very reliable broker.
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Author of SaxoBank: Geezer | Date 2011-04-05
Saxobank is a very solid company with unique trading software, but there are very high margin requirements. Opening an account is a complicated process - especially for newcomer
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Author of SaxoBank: trader2trader | Date 2010-12-07
Working with this company i have recurrently faced problems. Several times i have been charged some additional percent at money transfer.
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Author of SaxoBank: fx1 | Date 2010-11-24
Unfortunetaly, this company offers a too high spread. Some companies provide a two pip spread only. There are no deals which can be placed for a certain period of time, though they are really profitable. It seems that at the moments of crucial news releases (unemployemnt data, for instance) volatility fails to properly reflect the actual situation. What it does is simply showing some average on the charts.
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Author of SaxoBank: silver_trade | Date 2010-10-07
I prefer trading with banks instead brokers. The advantages are obvious: no slippages, spread is tradeworthy, and the system doesn't buzz while high movements. Strongly recommend!
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Author of SaxoBank: Frankus | Date 2010-09-21
I always wanted to try such brokers as saxobank, but the problem was I've been short of money. lol Now, when Forex is my principal earner, I don't trade with small brokers any more. I switched to saxobank and till now I'm fully satisfied with what I'm getting. The quality of services is pretty high. I think, I'm engaged with this broker forever. lol
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Author of SaxoBank: Puff | Date 2010-08-26
I think, all previous posters were paid by rivals for saying that. Cause Saxo has a clean slate among the jet-set. My own experience proves that. No single problem for 4 years of work!
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Author of SaxoBank: Derek | Date 2010-07-26
Spead is giant, customer service is quite good, execution is perfect and the platform is really BS. Pardon me for my language, but it's really uncomfortable in usage.
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