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Independent rating of Forex broker Saxo Bank

3/10 (votes 100)

On-line since
1996
Country of origin
Denmark
Regulation
ASIC, 109605610, Banque de France, 483632501, FCA (UK), FC026688, FSA (Denmark), 1149, SFC (Hong Kong), 1395901
Payment options
Credit/debit cards, Wire transfer
Minimum account size
$5,000
Minimum lot size
0,05 lot
Leverage
UP 1:20 to 1:200
Spreads
2 pips on EUR/USD

SaxoBank was founded in 1992 by the Danish businessman. Originally the Company was called Midas, but it was changed to SaxoBank at the time the bank obtained its European license for banking in 2001.
SaxoBank specializes in online investments at the international capital markets and provides its clients with opportunity to trade with the wide range of financial tools, such as currencies, contracts for difference, futures, options and other derivatives, the Bank renders services on trust management also.
The trading is carried out online with the help of SaxoTrader program, which is the proprietary of the Bank.
The thousands of investors and traders from more than 100 countries of the world are clients of the Bank. The client servicing is conducted from the Headquarters of the Bank in Copenhagen, and also from 12 offices, situated in the largest cities of the world.

Comments

Author: Serah Date: 2022-03-23 01:11:37 (UTC+3)
You need only a few minutes for refilling the account, but it's so difficult to withdraw cash from the account. Last week, I sent them a request for withdrawal, but I didn't receive the answer till today. Platform is horrible, too much mistakes and delays. I have often observed such a mistake as " internal server error". And if you have not login, you can't remove again your request, neither set nor change your stop to loss - nothing. Same thing happen during the early Asian period. I hate to say it but it seems like it is a case of good broker gone bad.
Author: Ellison Date: 2021-12-06 07:16:54 (UTC+3)
Saxo Bank is a decent broker. I am certain that it can be trusted. However, its trading platform is not the best. It often malfunctions and the charts get delayed sometimes. It only makes my experience less productive.
Author: Milly Date: 2021-11-29 01:41:38 (UTC+3)
The MetaTrading 4 platform has delays, sometimes 3 seconds, and the prices aren't real at the closing of the position. The broker is manipulating the prices during news feed and volatility times, you can't make a big profit. I had made a deposit of $5000 lost from my deposit till now almost $2500. Slippages of more than 30pips happen very often. I contacted their support about all the issues and I never got satisfactory answers. I tried to raise up to customer support but the feedback was inefficient more so confusing. Really frustrating.
Author: Damsa Date: 2021-08-10 08:05:51 (UTC+3)
Saxo Bank is quite popular but as it turns out, their brokerage services are poor in quality. The platform does not work properly and they don't have enough trading instruments to choose from.
Author: Luna Date: 2021-08-05 01:12:01 (UTC+3)
For six months they made me minus 55%. Here is their stability. Saxo reviews already seem to get negative everywhere. They make the withdrawal process becomes very difficult. Deposit is fast and simple, but not with the withdrawal process. I ask my problem, they can not give a good explanation. They are not a broker transparent, especially in the transfer and withdrawal. They seemed to look like want to take deposits and profits should I get.
Author: Rinki Date: 2021-04-19 06:25:06 (UTC+3)
SaxoBank offers some promising services but the problem is that opening an account with them is too expensive. For instance, in my case, I am only new to trading so I don't want to invest such a huge amount right from the start. Beside, I also could not afford it. I would appreciate it if they would offer an account type with a much lower minimum initial deposit.
Author: Orgil Date: 2021-03-29 01:43:09 (UTC+3)
Their connection was always got problem it was happened in everytime I want to execute even though I have been used the wifi with high signal or used good operator, some profits that I can get in front of the eyes could be destroyed. This broker also not have operator that friendly, they always provide answers convoluted every time I submit a complaint. They also do not have a creative platform, it makes me feel tired of trading in this broker. And some traders, close to me, had problems with the withdrawals of their profits from this broker.
Author: Arian Date: 2020-12-23 04:05:01 (UTC+3)
I have long been interested in Forex trading but I couldn't find the right broker for me. Saxo Bank is one of my choices as they seem to have promising offers and services. The problem is that their minimum initial deposit requirement is too high. I don't know if I could risk that much amount.
Author: Julida Br Date: 2020-12-02 02:30:05 (UTC+3)
They were not super great and innovative. Their minimum account size is also huge for beginners like me. They also didn't have any guarantees that convinced me to join them. Spreads also lightweight. And the important thing is customer support services are very bad, they are unfriendly. I never get the slightest profit. I was complaint but they didn't take it seriously. How could they not give the best response to any client complaints and always answered questions with badly.
Author: Parker Date: 2020-09-01 07:16:18 (UTC+3)
I've got a profitable experience on the SaxoTrader platform. I've experienced an advance and user-friendly interface. So I can take a perfect position in the live price quote and their spread is competitive with me. Which helps me to earn $1K so far. I know that they have regulation from the Swiss National Bank. So I am risk-free about my invest. Overall SaxoBank is the best option for me.

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