Saxo Bank Review – Is Saxo Bank Scam or a Good Broker?

Saxo Bank
  • Broker Rating
4.6

Summary

This is a review of home.saxo (just to clear any doubts). This broker that we are reviewing for you today at Best Forex World is a high quality broker by the name of Saxo Bank. The trading platform is fast and sleek and suited for both novice and expert traders. Keep reading our Saxo Bank review to learn more or visit their website in the link below.

Saxo Bank Review

Saxo Bank logoOne of the top and most well-known trading firms is Saxo Bank. With more than 30,000 trading assets available on this platform, it focuses on online trading and investment services. It spreads thousands of conventional equities across numerous stock exchanges. Read this Saxo Bank review to know more about it.


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Asset Offering

According to our Saxo Bank review, Saxo Bank, a currency broker in the UK, provides traders with access to more than 30,000 trading instruments. Among the products that are available are FX options, equities, commodities, bonds, mutual funds, ETFs,  and a number of others.

Saxo Bank website

Demo Account of Saxo Bank

According to our review of Saxo Bank, this broker provides a demo account. The trader finds this method to be very helpful, and virtual money is made available to them. The demo mode allows traders to become familiar with the platform’s trading tools and operations.

Using a demo version will be a huge help if you are a beginning trader and want to practice trading. You can move on to live trading when you feel comfortable enough with the demo mode.

Saxo Bank Account Types

Saxo capital markets offer 3 different types of trading accounts that are divided into groups based on the trader’s deposit amount. The kinds of accounts that Saxo Capital Markets offers are listed below:

  • Classic account
  • Platinum account
  • VIP account 

Research

Saxo Bank provides a number of research tools for both its technical and fundamental components. It provides the trading platforms SaxoTraderGo and SaxoTraderPro. These systems offer a wide range of features and capabilities, including sophisticated charts, trading tools that include a variety of technical signals, and many more.

Additionally, this Bank offers comprehensive market analyses for a variety of asset classes. In order to have access to a variety of fundamental data, the trader should sign up for the trading platform. For the advantage of its traders, it also offers a variety of trading ideas.

Security

Saxo Bank takes precautions to prevent the mixing of client and firm funds. Customer funds regulations are governed by the UK FCA. This guarantees that the trader’s assets are safeguarded even in the event of the firm’s bankruptcy.

The customer’s money is safe because these funds are kept apart in accounts at financial institutions. Additionally, traders’ assets have been further protected by the financial advisory compensation fund, which provides up to £85,000 in compensation.

Saxo Bank security

Payment Procedures

It usually takes one to five business days for bank transfers. Most European customers must move funds to a Saxo Danish account, which calls for international bank transfers. The traders’ accounts are quickly credited with money when using a credit/debit card.

Your card issuer may charge you 0.5-2.5% for this, though. Transferring a stock portfolio is the method used to move stocks. Since it needs to be handled by the person who currently holds your portfolio, it can take a bit longer.

Your choice of a bank or brokerage account is required to complete a Saxo Bank withdrawal. Your name must be on the account. There is no fee for withdrawal.

Education

The platform’s education area can easily aid investors who want to increase their understanding of trading marketplaces. It offers online webinars where trading professionals may walk traders through different asset classes.

Another option is to sign up for the Saxo Academy as a “learner” and select from among the innumerable online tutorials that are offered.

Customer Service

Saxo provides a comprehensive, dedicated support center where traders can seek assistance from the support staff to have their problems or questions resolved. They can call customer support if there is a pressing issue that has to be resolved.

Conclusion

As a summary of the review, we can state that Saxo Bank provides straightforward trading platforms with more than 30,000 trading assets that are accessible to traders. Some of the platform’s features, which are beneficial to both beginning and seasoned traders, include research, educational offerings, analysis, and excellent customer service.


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