The company has a global scale, cooperation with clients from 180 countries. Saxo Bank is known on the market for more than 20 years, of course, the company has a license, regulators. Earlier the company was called Midas, but in 1996 it was renamed Saxo Bank. The head office is located in the capital city of Denmark, but this does not prevent it to work in the most famous financial centers, such as Dubai, Singapore, Hong Kong, Sydney, London, Zurich, etc. It is known about the company that it was the first broker in Denmark to meet the requirements of the European Union directive.
The company is truly a huge scale, the daily number of transactions exceeds 1 million, among the partners can meet many well-known banks, and a total number of banks with which cooperates Saxo Bank more than 300. The company manages assets worth over 15 billion dollars, and among the clients can be found not only individual investors, but also corporate clients and managers of several accounts. Also, Saxo Bank independently provides liquidity for other brokerage organizations.
Any company, working on the financial market, has its advantages and, of course, disadvantages. Let’s consider them in details.
This company has a license not only for brokerage services, but also for banking services. There are great conditions for trading, the services provided to clients are really vast, it’s futures and options and currency pairs trading and CFD. All this is possible due to the high quality software. The level of client service is at the highest level, meets all the standards of the financial industry.
Among the disadvantages is not a small minimum amount of money to start trading, it may somewhat scare away new clients without any experience.
Saxo Bank is a well-known company in financial circles with European registration, it fully complies with all the directives of the financial organization, and has a license. Regulation is carried out by the Danish Financial Supervision Authority. The company is regulated not only as a brokerage company, but also as a bank, which is an absolute guarantee of transparency for the clients. In addition to the regulation by the European Union, as the company also operates in other jurisdictions, it is subject to the rules in force in those very jurisdictions, including Hong Kong, Dubai and Singapore.
The company insures its clients’ deposits up to 100000 euros, as it is an honorary member of the Danish Guarantee Fund. This is a guarantor of safety of funds in case of bankruptcy or liquidation of the company.
Customers have three trading accounts to choose from, all of which have the same terms of service and features.
The difference lies in the price range and new research possibilities,
A bonus is provided for the premium line of trading accounts, which will be incorporated into the interest.
Saxo Bank offers very competitive spreads due to the fact that the quotes are provided in real time, for example, for the most popular currency pair EUR / USD only from 0.1 point. The advantage for Premium trading accounts is the starting spread from 0 pips.
Depending on the instrument on which the client trades, the company offers different commissions. The full terms and conditions are available on the website of the company, for example, for ETFs the commission is $3, for futures $1.25 for a standard lot. Commissions for bonds are determined by a percentage of 0.05.
Be careful, the company only accepts payments via bank transfer, which is opened in a licensed bank. The company does not accept any other options for deposit, except for plastic card payments, where the commission will be from half percent to 3%, it directly depends on the currency of the transfer.
Here, the minimum deposit level may scare away not only newcomers but also traders, it is $10,000 for the standard account, for the Platinum account the minimum amount of trading account is $200,000, while for the VIP account the minimum amount of trading account is $1 million.
So, it is reasonable to suppose that the company is aimed at experienced clients who are planning to work with big sums.
Customer support is available in different languages depending on the location of the client, because the company’s clients are located in 180 countries.
Training and educational materials
Based on the high level of the minimum deposit, we can conclude on the target audience of the company, it is a professional trader who does not need to provide various training materials. Thus, the company provides training courses. However, every client will receive necessary technical analysis, up-to-date news as well as materials that will help to get accustomed to the new platform. For strategy development and testing, clients will be provided with a fairly extensive selection of tools.
Saxo Bank This is a well-known bank and broker, whose activities began in 1992. The bank is regulated, has a license, the software is quite reliable. There are opportunities to minimize risks through hedging techniques. If you have enough experience and are willing to invest a large amount, Saxo Bank will be the perfect choice.