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SaxoBank Reviews and User Ratings

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SaxoBank General Information


Broker Name
SaxoBank
Established
1992
Country
Denmark
Min Deposit
5000
Max Leverage
1:100
Regulation
ASIC, FCA, FSA, Banque de France, SFC
Email
institutional@saxobank.com
Telephone
45 39 77 40 00
Fax
45 39 77 42 00
Website Language
English, Chinese, French, Russian, Spanish, Arabic, German, Greek, Hebrew, Hungarian, Italian, Norwegian, Polish, Czech, Danish, Dutch, Finnish, Romanian, Slovenian
Support Methods
Email
Telephone
Live Chat
Skype
24/7 Support
Deposit Options
Credit Cards, Debit Cards, Wire Transfer
Withdraw Options
Credit Cards, Debit Cards, Wire Transfer

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Description


SaxoBank Background

As one of the oldest, most famous and well-reputed retail brokers in the world, SaxoBank is focused on Forex trading and was established in 1992. A major reason why it is considered so extremely reliable is that it is heavily regulated by several authorities even in Denmark where its headquarters is based. This includes the Danish Financial Supervisory Authority, the Monetary Authority of Singapore, Japanese Financial Services Agency and the Swiss Federal Banking Commission etc. There are several different trading platforms that are offered by SaxoBank, all in the forms of standalone, web based and mobile based ones.

Features of SaxoBank

Fully regulated by several authorities in different countries

Features different trading platforms for traders to choose from

Mobile and web versions available

Variable spreads

Features over 160 currency pairs to choose from

Maximum leverage of 200:1

Minimum deposit of $5000

Scalping and hedging offered
With such an extensive history associated with its name, it is obvious that SaxoBank has a very professional looking website. The broker has paid immense attention to detail and has focused on making the site as easily accessible as possible. The homepage of the site presents every single bit of information that you may need to give your forex trading career a kick start. For instance, it presents easily locatable links to its trading platforms, products, prices, and even market insight. On the whole, the site is very well-planned and features an outstanding design.

Conclusion

All in all, SaxoBank is an extremely reliable broker that is heavily regulated in several countries. Considering that it has a high minimum deposit, the broker is the perfect choice for highly experienced traders.

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Features and Trading Instruments


Features
Hedging
Scalping
Margin Interest Rate
Trailing Stop
Web Based Trading
Pending Orders
One Click Execution
Mobile Trading
US Traders
Automated Trading
Islamic Account
Swaps
Segregated account
Affiliate Program
Trading Contest
PAMM
Trading Instruments
Oil
Gold
Metal
Indices
ETFs
CFDs
Stocks
Commodities
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Pros and Cons


The broker is known for its outstanding quality customer services that can be accessed on a 24/5  basis during the Forex market hours. Customer support can be acquired by means of phone and live chat. The best part is that customer service is offered in multiple languages including English, Hebrew, Arabic, Danish, Dutch, Greek and Italian etc.

PROS:
  • Allows traders to use some of the most efficient and reliable trading platforms available at the moment
  • Easy deposit and withdrawal process through bank wire and credit card
  • Variable spreads offered
  • Spreads are fairly tight
  • Over 160 currency pairs for traders to pick from
  • Segregated funds
CONS:
  • Does not accept U.S.-based customers
  • High minimum deposit of $5000
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Account Type


  • Minimum Account Size: $5000
  • Spread: Low/ Fixed
  • Trading Instruments: Forex, Indices, Metals, Commodities, CFDs, ETF
  • Trading Platforms: SaxoTrader ,Saxo WebTtrader, Saxo Mobile Trader

  • Minimum Account Size: $100000
  • Spread: Low/ Fixed
  • Trading Instruments: Forex, Indices, Metals, Commodities, CFDs, ETF
  • Trading Platforms: SaxoTrader ,Saxo WebTtrader, Saxo Mobile Trader

  • Minimum Account Size: $500000
  • Spread: Low/ Fixed
  • Trading Instruments: Forex, Indices, Metals, Commodities, CFDs, ETF
  • Trading Platforms: SaxoTrader ,Saxo WebTtrader, Saxo Mobile Trader

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SaxoBank Review Score


SaxoBank Reviews and User Ratings
9.6 Total Score
5 reviews
Add your review
Web Design
9.8
Reliability
10.0
Platform
9.4
Customer Support
9.2
Withdrawal
9.6
Broker Name
SaxoBank
Established
1992
Country
Denmark
Min Deposit
5000
Max Leverage
1:100
Regulation
ASIC, FCA, FSA, Banque de France, SFC
Email
institutional@saxobank.com
Telephone
45 39 77 40 00
Fax
45 39 77 42 00
Website Language
English, Chinese, French, Russian, Spanish, Arabic, German, Greek, Hebrew, Hungarian, Italian, Norwegian, Polish, Czech, Danish, Dutch, Finnish, Romanian, Slovenian
Support Methods
Email
Telephone
Live Chat
Skype
24/7 Support
Deposit Options
Credit Cards, Debit Cards, Wire Transfer
Withdraw Options
Credit Cards, Debit Cards, Wire Transfer
Features
Hedging
Scalping
Margin Interest Rate
Trailing Stop
Web Based Trading
Pending Orders
One Click Execution
Mobile Trading
US Traders
Automated Trading
Islamic Account
Swaps
Segregated account
Affiliate Program
Trading Contest
PAMM
Trading Instruments
Oil
Gold
Metal
Indices
ETFs
CFDs
Stocks
Commodities
SaxoBank Reviews and User Ratings
9.6 Total Score
5 reviews
Add your review
Web Design
9.8
Reliability
10.0
Platform
9.4
Customer Support
9.2
Withdrawal
9.6

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5 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. Reply
    Johanna Jones
    July 6, 2016 at 2:35 pm
    4.7
    Web Design
    100
    Reliability
    100
    Platform
    100
    Customer Support
    80
    Withdrawal
    90

    The site of Saxobank offers many options and many advanced tools to take advantage of the many ways to make money. However, too many options can be a bad thing. It entices you to try them all and doesn’t give enough guidance on what to do first.

    Helpful(0) Unhelpful(0)You have already voted this
  2. Reply
    Displeased Dixie
    December 11, 2015 at 4:35 pm
    4.3
    Web Design
    90
    Reliability
    100
    Platform
    70
    Customer Support
    80
    Withdrawal
    90

    Saxobank does not welcome Americans. They cater to non-Americans. I guess that’s okey but I prefer to do business with a company that welcomes me and my dollars. So I guess I’ll just give Saxobank a pass and more on to other traders.

    Helpful(0) Unhelpful(0)You have already voted this
  3. Reply
    Eric Snow
    December 4, 2015 at 1:45 pm
    5
    Web Design
    100
    Reliability
    100
    Platform
    100
    Customer Support
    100
    Withdrawal
    100

    Saxobank is more than just Forex, it provides the full range of currency trading tools. It also allows trading in commodities and futures for the adventurous trader. It will be a while before I can fully explore the potential so I’d best get started.

    Helpful(0) Unhelpful(0)You have already voted this
  4. Reply
    Faith de Chavez
    October 10, 2015 at 3:00 pm
    5
    Web Design
    100
    Reliability
    100
    Platform
    100
    Customer Support
    100
    Withdrawal
    100

    Saxobank uses tried and tested technologies that are employed by major financial institution. This is a good sign for me since they aren’t trying to reinvent the wheel. They follow the old adage, if it aint broke don’t fix it.

    Helpful(0) Unhelpful(0)You have already voted this
  5. Reply
    DunkLovin619
    June 11, 2015 at 7:30 pm
    5
    Web Design
    100
    Reliability
    100
    Platform
    100
    Customer Support
    100
    Withdrawal
    100

    What I like about saxobankis that it is highly reliable. I know it’s gonna be there for me in the future. Stability is very important for Forex trading. So the stability that Saxobank offers us is definitely A+

    Helpful(0) Unhelpful(0)You have already voted this

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