Saxo Bank forex broker review and detailed information

Saxo Bank forex broker review and detailed information

How does Saxo Bank compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.

Saxo Bank forex broker logo

Basic information about Saxo Bank

WebsiteVisit Saxo Bank
TypeMarket maker (MM)
Regulated byBank registered in Denmark
CountryDenmark
Established in1992
Live chatyes

Trading terms

Commission (pips)0.00-0.00
Fixed spreadyes
Variable spreadno
Spread on majors (pips)2.0-4.0
Leverage100:1
Minimum deposit (USD)10000
Minimum trade size (USD)100000
Accepts scalpingyes

Available features

Number of currency pairs160
Precious metals (gold & silver)yes
Oilno
Stocks, Indices, and/or CFDsyes
Hedgingno
Trailing stopyes
Free automated tradingno
MetaTrader 4no
Mobile tradingyes

Forex account

Demo accountyes
Interest on unused balanceyes
Islamic swap-free accounts
Accepts U.S. citizensyes
Payment by Bank wireyes
Payment by Credit cardno
Payment by PayPalno
Payment by checkno
Other payment options
Account in USDyes
Account in Euroyes
Account in GBPyes
Account in CHFyes
Account in JPYyes
Account in AUDyes
Account in CADyes
Account in NZDyes
Account in CZKyes
Account in DKKyes
Account in HKDyes
Account in ILSno
Account in NOKyes
Account in PLNno
Account in RMBno
Account in RURno
Account in SEKyes
Account in SGDyes
Account in ZARyes

Languages

Arabicyes
Chineseyes
Czechno
Dutchno
Englishyes
Frenchyes
Germanyes
Greekyes
Hebrewyes
Indonesianno
Italianyes
Japaneseyes
Koreanno
Malaysianno
Polishyes
Portugueseyes
Russianyes
Spanishyes
Turkishyes

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Saxo Bank customer reviews

Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.



Andrew Bains
2011-10-02
Been using their software for 3 yeras. Generally the platform is ok, the options they sell are too expensive. I have had several experiances of stops not being executed at the stop level. Also, market entry orders are not always enetered at the first instance, the system waits and despite the market entry price becoming more favourable, they still give me the worst market entry point.

I still use there software, but try and control stops and market orders myself with price alerts which seem to be far more resoponsive.


Beniluxian
2010-07-02
Tried Demo

"""The platform is horrible, too many errors and delay. I have experienced an error such as "internal server error". You cannot place an order, cancel an order or even change your stop loss, unless you sign out and sign in again."""---CORRECT 100%

"""You stop loss does not stop at the point you set......""
CORRECT ("---7 pips overrun on chart and was not done!!!!!!!) and this is on Demo!!!

sometimes freesing of platform....

what should one expect on real?

2500 euros initial deposit ?--- HA_HA!!!!

was angry and deleted platform

try to find some other more small trader freandly

regret can't recall where read about founder of this bank but the article was very negative(search the web)

saxobank- is based in Luxembourg

can't say anything about money withdrowal
so as refused to open account

pity ---at first it looked so promising....


Michael
2010-05-27
Saxo Bank does not offer any platform for automated trading (either free or payed). Also the minimum initial deposit is 10,000. They must be the only broker in the world who require a 10,000 intial deposit without offering any automation. Unbelievable.


Mai
2010-02-10
Please stay away from Saxobank. It is the worth broker ever. It takes only few second to deposit your account, but it is extremely difficult to withdraw cash from your account. I withdrawn my money last week, but haven't got any money so far and I am not sure if I would get it.

I have called them several times, and they said everytime I called that you would get money today, but money never be transferred to my bank account.

The platform is horrible, too many errors and delay. I have experienced an error such as "internal server error". You cannot place an order, cancel an order or even change your stop loss, unless you sign out and sign in again.

You stop loss does not stop at the point you set, and you will always loose money more than you have set your stop loss.

They wrote on their website, that the minimum deposit is 2000 USD, but this account is not available, and they will ask you to pay 10000 USD for deposit.

Saxobank is SCAMP. Please stay away from them.


Aga
2009-08-17
Bad performance, I do not reccommend that bank to anybody.


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