Saxo Bank Review: Home.Saxo a Trustworthy Company

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Saxo Bank Review: Home.Saxo a Trustworthy Company

Saxo Bank is one of the genuine companies in the market. A platform provides access to multiple assets. They are also offering insightful information to help investors trade successfully. Their main focus is to ensure investors make the best out of the market volatility.

Saxo Bank Review, Saxo Bank Company

The broker also provides the necessary tools to assist investors in managing their portfolios easily. Traders that lack adequate time to place orders can use the automated services. The process is cost-effective. You can also choose to buy products and hold until the price increases.

Saxo Bank is trading EFTs, Stocks, Bonds, and Futures. They serve both seasonal and long-term investors. The entity has extensive information regarding its business. Their researchers are always on the lookout for lucrative opportunities.

The company is also guaranteeing tight spreads and low commissions. Their prices are transparent, and you will not encounter any surprises during the withdrawal process. The platform has created a conducive trading environment. 

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The broker originates from Danish. This investment bank is also providing online trading services to clients. The company has been in the market for years and has built a strong reputation. Several regulatory bodies in the market also regulate the platform. The website has detailed information, and you won’t struggle to understand the service being provided.

The broker also offers extensive educational materials in videos, webinars, and podcasts. You can also easily navigate through the platform. The customer support is also helpful, and in case you have any questions, they are happy to help.

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Saxo Bank is also a secure entity. They are competing with the best forex trading brokers in the market. They have done a great job in protecting traders’ funds. The data of clients is also safe. The only shortcoming worth mentioning is the minimum capital requirement is higher than in other brokerages; however, if you do not mind that, you can proceed to open an account with them.

Trading Conditions of Saxo Bank

The entity is offering two trading platforms; Saxo TraderGo and Saxo TraderPRO. These are web trader interfaces that trade various products listed on the website. They have advanced charts and trading tools. 

Saxo Bank avails several market research materials to help traders analyze the industry.  The company has various trading accounts. Nonetheless, you cannot compare the software with the reputable MetaTrader interface. Additionally, investors that are used to the software will not go for this broker. 

Home.Saxo Review, Home.Saxo Features

The broker has multiple trading accounts. There are plans for corporate and professional traders. If you refer to yourself as a professional trader, you must meet the conditions. 

You should at least meet two of the following conditions; Your account portfolio must have over 500,000 euros. Additionally, you must have executed the same 10 sizes of trade within the past year. Last but not least, you must also have worked at a financial institution for at least one year. If you do not qualify as a professional client, you will be viewed as an individual account.

Saxo Bank is observing the EU requirements when it comes to leverage. The popular currency pairs have the leverage of 1:30, the non-major forex pairs, indices, and gold have the leverage of 1:20, cryptos have leverage of 1:2, and equities have 1:5.

The company’s spread range from 1 pip to 1.2 pips. The limit is per the market standard. The venture is not charging a commission for trading forex. However, products like EFTs and Stocks are subjected to commissions. Bonds have a commission of 0.05%, while futures has $1.25 per lot.

Home.Saxo Withdrawal and Deposits 

The minimum amount investors can deposit $2000. The market standard is $250, but still, there are legitimate schemes that take as low as $10. Saxo Bank platinum package accepts a deposit of $200,000, while the VIP account takes $1,000,000. 

The bank accepts payments via bank transfer, credit card, and debit card. They are also charging an inactivity fee of $150 if your account is dormant for six months. Nonetheless, there are no withdrawal and deposit fees.

Customer Support and Contact Details

Saxo Bank has offices in Asia, Europe, and Australia. If you have any queries, you can check out the FAQ section. If you do not find an answer to your question, you can contact the support via the phone number provided on the website. The company also has an email address that you can use.

The broker is based in Hellerup, Denmark. However, they also have offices in Italy, the UK, Switzerland, Singapore, Australia, Japan, and Hong Kong. The venture is conducting its business transparently. They have nothing to hide. We recommend trading with brokers that disclose their area of operation.

Saxo Bank is also working with a professional support team. If you face any challenge, customer care responds in time. Your information is also secure on their website. The best way to know whether an investment scheme is reliable is by checking how the firm treats its clients. The broker has multiple endorsements from various traders who have tried them out.

Regulatory Status of Saxo Bank

Saxo Bank has been in the industry since 1992. They were initially known as Midas Fondsmæglerselskab. The venture changed its name in 2001 to Saxo. The broker is legally in business, and the Danish banking license licenses it. Investing with a licensed platform gives you peace of mind as you are guaranteed to adhere to the set rules.

Some of the bodies that regulate Saxo Bank include; the Financial Conduct Authority (FCA) of the UK, Switzerland, and  Denmark.  That firm is reporting its daily trading activity to the financial agency. The venture is transparent about its prices, and it cannot risk manipulating prices as it would lead to revoking its license.

Traders have nothing to worry about as the entity has met strict rules to acquire their license. Danish banks must have a capital of 5 million euros. The money guarantees that the Investment scheme can survive the volatility of the market without facing bankruptcy. In case of insolvency, investors standard a chance of receiving compensation.

Saxo Bank is also offering negative balance protection to consumers. Therefore clients are assured they will not lose more money than they initially deposited. The risks of trading with offshore companies are far beyond recovery. Instead of making a blind move and losing funds, stick to the licensed companies.

Clients Reviews of

The company has genuine reviews from traders who have tested its platform. Clients praise the customer support team that responds in time. They are also friendly and effective. The interface is easy to use, and the platform has traders who have been using the interface for more than seven years.

Customers are also pleased with the low fees. Saxo Bank is transparent and handles the withdrawal requests on time. The platform can execute a daily trade of over 270,000. They currently have over 850K existing clients. 

It is important to check the experience of those that have traded with the company before. You will get unbiased feedback and first-hand information. There are no cases of unprofessionalism with the entity, which is quite recommendable. 

Final Verdict 

Saxo Bank is a genuine investment company. They have licenses from reputable financial bodies in the market. Our only concern is the venture is using a web-based trading platform. The initial deposit to start trading is also high. If this does not concern you, you could proceed to open an account with them. 

In the meantime, you can also check out other leading multinational forex trading brokers in the market. These are platforms that accept low capital and have reasonable fees. 

Does Saxo Bank has a license?

Yes, the platform is regulated by multiple financial bodies.

Is the customer Support of Saxo Bank Sound?

Yes, the company's clients praise the support team.

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