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Saxo Bank Review and Tutorial 2021

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Facts & Figures

A regulated bank, Saxobank offer Equities and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

Giải thưởng

N/A

Tặng kem không ai
Dụng cụ Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, bonds, ETFs
Tài khoản Demo Yes
Min. Tiền gửi $10000
Phương thức thanh toán Credit Card, JCB Card, Mastercard, Visa, Wire Transfer
Min. Buôn bán Vary by asset
Quy định bởi Danish FSA, FCA and Others
MetaTrader 4 No
MetaTrader 5 No
cTrader No
Tài khoản ECN Yes
Tài khoản DMA No
Ứng dụng di động SaxoTraderGo (iOS, Android, Windows)
Giao dịch tự động No
Giao dịch xã hội No
Sao chép giao dịch No
Tín hiệu giao dịch Yes
Tài khoản Hồi giáo Yes
CFD
FTSE Spread 1.2 pts (Variable)
Chênh lệch GBPUSD 0.7 (var)
Dầu lây lan 0.03
Chênh lệch cổ phiếu 0.10% (subject to min commission)
Tận dụng 1:30
Ngoại hối
Chênh lệch GBPUSD 0.7 (varies by region)
Chênh lệch EURUSD 0.2 (varies by region)
Chênh lệch EURGBP 0.6 (varies by region)
Tài sản 40+
Cảnh báo rủi ro - Vốn của bạn đang gặp rủi ro

Since the inception of the internet, various banking services, also as exercises, can be executed or gotten to on an online platform. This additionally applies to the various types of trading just as an investment. Saxo Bank is one such foundation that took this action by offering online services to customers. Customers of this Danish-based bank can get to Saxo Bank trading on their Internet-associated devices, among other investment services advertised.

Company Details

Saxo Bank was set up in the year 1992 as an exclusive company. The bank’s headquarters is in Copenhagen, Denmark, and it has figured out how to separate itself to become one of the main retail brokerage innovators in Europe.

The security of trading at the bank is guaranteed by the 10+ financial regulators, including the UK FCA. The bank is among the main retail brokerage innovators in Europe, just as on the globe.

Trading Platform

The trading platform offers clients an assortment of instruments and asset classes that range across worldwide financial markets.

The SaxoTrader suite operates on a myriad of devices and working frameworks remembering Windows for desktops. The mobile suite runs on Android, iOS, and Blackberry, among others, and is alluded to as SaxoTrader GO.

Saxo bank includes an extremely one-of-a-kind and exceptionally captivating web trading platform for getting to its asset classes. It involves a one-step login measure after stacking the program.

Nonetheless, for the Platinum and VIP accounts, there is an IP address link for login that is safer. However, it may seem unpredictable. It includes an easy-to-follow menu that makes navigation through it helpful.

Assets/Markets

The all-around planned Saxo Bank trading platform includes a diverse item portfolio of markets that are accessible to trade.

  • Counting:
  • Forex
  • Bonds
  • Equities
  • ETFs
  • Mutual Funds
  • Options
  • Futures
  • CFDs (Depending on locale)
  • Cryptos

In the forex domain, there are in excess of 100 minor and major currency pairs that can be traded. Crypto derivatives on Litecoin, Bitcoin, and Ethereum are additionally offered against fiat monetary standards like USD, EUR, and JPY.

Highlighting more than 5,000 bonds with 3,400 created markets and 1,600 arising marketing bonds, the Saxo Bank bond trading platform gives clients an interesting asset class to trade-in. What’s more, clients can access government bonds in more than 40 nations.

Corporate bonds, however accessible, are limited to 7 nations.

Spreads and Commission

The trading fees are very high. For instance, the US stock trading of $15 is the most noteworthy among the more renowned brokers. The trading fees of equity, forex, and CFD are average. The future, bond and option fees are very high when trading in lower volumes.

Saxo Bank commissions are dominatingly volume-based. For example, forex fees are typically founded on a volume plan where the more you trade, the less commission you pay. The standard commission is 0.005%. However, this is simply applicable to the first $50 million tradings in a month.

Leverage

Forex is typically traded on margins, with every brokerage firm having its own leverage. In particular, Saxo Bank leverage terms depend on a tiered margin philosophy.

This involves a management instrument against political and economic situations that might make the market volatile, prompting abrupt changes. Saxo Bank has the most extreme leverage of 1:30, which is in accordance with other-directed brokers in the European Union.

Mobile Apps

The Saxo bank mobile app is momentous since it has a similar outlay and plans workability as its electronic platform. Notwithstanding the shortfall of basic data and Saxo Select, it is still exceptionally usable. The Saxo Trader app is available downloaded in Google Play for Android frameworks and in the iOS store for Apple devices.

Payment Methods

Bank transfers take between 1 to 5 workdays. The majority of European customers are needed to transfer to a Saxo Danish account which requires an international bank transfer. By means of the credit/debit card method, cash is credited to the traders’ accounts instantly.

Nonetheless, this is dependent upon a charge of 0.5-2.5% by your card administrator. Stock transfers happen through the transfer of a stock portfolio. This may take somewhat more time since it should be handled by your current portfolio holder.

Saxo Bank withdrawal should be possible to your bank account or a broker account. The account should be in your name. Withdrawal is free.

Minimum Deposits

Minimum deposits shift dependent on money:

  • Denmark                No minimum
  • United Kingdom    500 GBP
  • Singapore               3,000 SGD
  • Malaysia                 3,000 SGD
  • Australia                 3,000 AUD
  • China                       2,000
  • Hong Kong              2,000
  • Norway                   No minimum
  • France                     2,000 EU
  • Netherlands           2,000 EUR
  • United Emirates    10,000 USD
  • Czech Republic      10,000 USD
  • Poland                     10,000 USD
  • Slovakia                   10,000 USD

Demo Account

An instant demo account offers traders the opportunity to see the platform and check its usefulness. A full demo account is then additionally offered close by a genuine account, and this empowers strategy testing and refinement.

Offers and Promotions

Research materials are open from both the web and desktop trading platforms. Saxo additionally runs a different page known as tradingfloor.com, where traders can get more data on market statistics. The substance accessible incorporates equity research, news, suppositions from Saxo’s specialists, trade signals, and macro occasions calendar.

Bonus

While there is no dynamic bonus present, the presence of cutthroat spreads on the different asset classes makes this practically insignificant. This is important to forex trading since it is commission-based.

Additionally, an outline of the trade-related costs for any trade depicts Saxo Bank as midrange among different brokers. Bonus features are generally not accessible in market trading since such enticements cause over-trading and are frowned on by controllers.

Regulation and Licensing

Saxo Bank is directed globally by in excess of 10 financial controllers and is a profoundly trustworthy brokerage organization in Europe:

  • Saxo Capital Markets UK Limited is approved and directed by the Financial Conduct Authority (Firm reference number 551422).
  • BG SAXO Società di Intermediazione Mobiliare S.p.A. is authorized by Italian Market Authority – Consob (Albo SIM – Registration Number: 296).
  • Saxo Bank A/S Czech Republic is enrolled by the Czech National Bank (Registration Number: 28949587).
  • Saxo Bank A/S Netherlands is enrolled by the Bank of the Netherlands (Registration Number: 34357130).
  • Saxo Capital Markets Pte. Ltd. Singapore is authorized as a Capital Market Services supplier and an Exempt Financial Advisor and is directed by the Monetary Authority of Singapore (Co. Registration Number: 200601141M).
  • Saxo Bank (Switzerland) Ltd. (UID-Register Number CHE-106.787.764) is an authorized bank controlled by the Swiss Financial Market Supervisory Authority FINMA.
  • Saxo Banque (France) SAS is authorized as a Credit Establishment by the Bank of France (Registration Number: 483632501 R.C.S. Paris).
  • Saxo Bank A/S is authorized by the Danish Financial Supervisory Authority and works in the UAE under a representative office license given by the Central Bank of the UAE.
  • Saxo Bank – Representative Office is authorized by the Central Bank of the U.A.E. as a Representative Office (Registration number: 2017/995/13).
  • Saxo Bank Securities Ltd. is authorized by the Japanese Financial Services Agency (Registration Number: 239).
  • Saxo Capital Markets Hong Kong Ltd. is licensed by the Securities and Futures Commission in Hong Kong (Registration Number 1395901).
  • Saxo Capital Markets (Australia) Pty. Ltd is licensed by the Australian Securities and Investments Commission (ASIC) (Registration Number: 126 373 859).

Additional Features

Investors willing to expand their knowledge on trading markets can be readily helped by the training part of the platform. It arranges online webinars where traders can be taken through asset classes by trading specialists.

Then again, one can turn into a “learner” at the Saxo Academy and look over the endless online tutorials accessible.

Account Types

Saxo has four primary types of accounts, specifically Classic, Premium, Platinum, and VIP. The accounts differ on the measure of funding.

The Classic account’s requisite is the standard minimum deposit which fluctuates by country, Premium accounts require a minimum of $100,000, Platinum accounts at least $500,000, and the VIP account a minimum of $1,000.000.

With a Premium account, traders access free expanded news and research material. For the VIP and Platinum accounts, investors have progressed client care, logins that are IP address connected, hence safer and more tight spreads.

Benefits

Saxo Bank has set itself up as a leading brokerage innovator. A portion of the elements incorporates excellent examination administrations involving a devoted exploration group that persistently gives new trading thoughts.

A definite all-around platform that empowers traders to execute their thoughts. It’s a diverse item portfolio that facilitates hefty traders. Furthermore, customer administration is available in multiple languages.

Drawbacks

Saxo has a few limitations which might be a hindrance to compelling trading. For funding necessities, at least $2,000 is required, which may wind up being a weight to investors. Little traders’ profits can be affected upon by the high trading fees. The broker’s financing charges are among the highest in the market.

Saxo Bank Trading Hours

The platform is available for trading 24 hours per day, albeit 6 days seven days. Different currency pairs have explicit trading hours. For instance, the RON, ILS, SAR, and AED and RUB currencies trading hours are 08:15 – 17:00 CET, 07:00 – 17:00 CET, 07:00 – 15:00 CET, and 07:00 GMT – 19:00 GMT individually.

Contact Details or Customer Support

  • Reception: +61 2 8267 9000
  • Fax: +65 6303 7808
  • Website: www.home.saxo/au

Safety and Security

Saxo’s web-based platform includes high-security parts since traders’ imperative archives are required when opening an account. They incorporate a duplicate of an ID, driver’s license, or passport. The login footsteps to some account types are improved to protect client information. A valid example is the Platinum and VIP accounts which have an IP address interface for secure login.

Saxo Bank Overall Verdict

This survey is pointed toward giving an itemized depiction of Saxo Bank as a brokerage organization. The bank offers intricate and helpful types of assistance through its trading platform. The examination and customer administration group are consistently accessible to offer any help to traders.

Additionally, its diverse item portfolio involving asset classes and international markets guarantees hefty traders of an enticing trading arena. In spite of requiring high least trading fees, it is a decent brokerage organization as far as administration conveyance, and it remains on the global scene.

Accepted Countries

Saxo Bank acknowledges traders from Thailand, Australia, Canada, United Kingdom, Singapore, Sweden, Hong Kong, Germany, Norway, Italy, Denmark, United Arab Emirates, Qatar, Saudi Arabia, Kuwait, Luxembourg, and most different countries.

Traders cannot utilize Saxo Bank from United States, India, South Africa, Nigeria, Brazil, Pakistan, Spain, Portugal, Mexico, and Kenya.

Alternatives to Saxo Bank

In case you are searching for alternatives to Saxo Bank, we have gathered a rundown of the best 5 brokers that are like Saxo Bank beneath. This rundown of brokers like Saxo Bank is arranged by comparability and just incorporates organizations that acknowledge traders from your area.

VantageFX – Solid and moderate trading since 2009. Join more than 400,000 others trading on 300+ CFD items over assets like forex, gold, indices, and shares from 0.0 spreads through TradingView, MT4, or MT5. Vantage FX is ASIC directed, and customer funds are isolated. Open an account within 5 minutes.

BDSwiss – BDSwiss offers 250+ Shares, Indices, Forex, Commodities, and Cryptocurrencies markets by means of CFDs. With spreads from 1 pip and an award-winning application, they offer an extraordinary package.

RoboForex – RoboForex is a multi-asset online broker contributing incredible trading aides.

Easy Markets – easyMarkets.com – Simply Honest. Exchange CFDs on Forex, Commodities, Indices, Shares, and Cryptos with a Top of the line Forex BrokerXM – XM.com offers a scope of Account types and a low least deposit to speak to all degrees of trader. With 1000+ markets and low spreads, they offer incredible assistance.

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