Today, Saxo Bank serves clients in 120+ countries, operates 15+ global trading offices, and processes 125,000+ trade executions daily. Saxo is considered a good brokerage company with safe and favorable trading conditions with transparency. The broker offers a range of trading services with a wide range of trading instruments. As one of the good advantages, Saxo Bank is available in many countries, so traders can sign in also with competitive spreads.

• As well as evaluating a broker’s product portfolio, fee structure and trading tools, we consider the availability of GBP-denominated accounts, the presence of UK-based customer support, and FCA authorisation.
• The user can choose to use up to six displays to benefit from the sophisticated workspace management that this platform provides.
• Saxo Bank was founded in 1992 and the registered owner is Geely Financials Denmark A/S.
• SaxoTraderGO is free to set up with no monthly platform subscription fees.
• By comparison to other online brokers, Pepperstone can offer multi-currency deposit solution that includes 10 different base currencies.

Forex traders need to be aware of the inactivity fee charged by Saxo Bank. Our Saxo Capital Markets review found that an inactivity fee is levied on all Saxo Bank accounts that have been inactive for a prolonged period. Saxo Bank charges an inactivity fee of $100 or the equivalent amount in the account currency if there are no trades executed for a period of 180 days. Additionally, SaxoStrats offers forex traders the chance to follow a team of Saxo Bank experts that will supply you with actionable insights via a podcast service. This is low compared to other leading forex brokers as shown below.

How much money do you need to start trading forex?

Both our SaxoTraderGO and SaxoTraderPRO platforms offer you a fast and intuitive forex trading experience. Do you want to quickly take the pulse of a market or research ESG-focused investments? From live market updates to in-depth macro analysis, your Saxo account gives you access to impactful insights, directly in your trading platform. We maintain a bullish outlook for gold into 2024 in the firm belief that rates have peaked, and that Fed funds and real yields will continue to trend lower. However, with a great deal of easing already priced into the market, the chance of a straight-line rally is unlikely, and both silver and gold will continue to see periods where convictions might be challenged.

• Saxo offer a variety of orders, including Market, Limit and Stop orders.
• After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we’ve determined that Saxo Bank (99) earned a higher Trust Score than Pepperstone (95).
• Saxo offers three trading accounts including classic, platinum and VIP.
• To open a trading account with Saxo Bank, you’ll need to make an initial minimum deposit of 0.
• See a full list of our FX margin rates for Retail clients as well as our FX margin rates for Elective Professional clients.

For active traders (or those who can afford to maintain the steep account balance requirements), Saxo Bank provides an immersive, rich trading experience with a towering selection of tools, research, and premium features. Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 70,000 tradeable instruments. 64% of retail investor accounts lose money when trading CFDs with this provider.

What is the minimum deposit requirement for opening an account with Pepperstone?

Below shows the Saxo Capital Markets brokerage fees compared to other leading stockbrokers. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Saxo Bank was founded in 1992 and the registered owner is Geely Financials Denmark A/S. The group launched one of the first multi-asset online trading platforms in 1998.

Trusted for more than 30 years

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Based on our research on the regulatory status of over 60 brokers, we’ve found that Saxo Bank holds 7 global Tier-1 licenses, while Pepperstone holds 3. Pepperstone holds 2 global Tier-2 licenses, while Saxo Bank holds 1. Based on our research on the regulatory status of over 60 brokers, we’ve found that Saxo Bank holds 7 global Tier-1 licenses, while XTB holds 2.

Discover our other platforms

At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score). Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features.

Quite a few instruments can be traded through several different venues and order routing techniques, offering a splendid diverse range, although some of these venues will cost you more than average. Overall, none of this is surprising because Saxo’s business objectives really prioritize bigger and professional traders over the small guys. This change caused unnecessary saxo forex broker losses for many clients short selling the EUR/CHF as well as other CHF instruments and who had exited trades during periods of low liquidity, previously. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS 12.5 to test trading on the go.

Saxo Forex Trading Platform

To verify the availability of any features within your country of residence, please contact the broker directly. FOREX.com requires a minimum deposit of $100 before you can open an account and start trading. To open a trading account with Saxo Bank, you’ll need to make an initial minimum deposit of 0. In addition to stop-loss orders, Saxo Bank also offers trailing stop orders, which allow traders to lock in profits as the market moves in their favor. This feature is particularly useful for traders who want to let their profits run while still protecting against downside risk.

This leads to real benefits on a large number of currency trades through the Saxo forex trading platform. Shares trading is one of the most popular services offered by Saxo Capital Markets. They offer share trading in Australia, USA, UK, Singapore and even Chinese stocks. Overall, traders have access to over 19,000 shares overseas across 36 exchanges. Their share trading offering won “Outstanding Value International Share Trading” in both 2017 and 2018. Other share related services are over 3,101 ETFs, ETCs and ETNs and they also offer over 1,200 listed options.

Similar to how Saxo offers access to 60 exchanges globally while charging less than the market average for international trading. Saxo is also advantageous for frequent traders who invest S$100,000 or less because it doesn’t have a monthly minimum commission like some other low cost options on the market, such Interactive Brokers. SaxoTraderPRO, a downloadable platform that is perfect for experienced traders, is the company’s flagship product.

Saxo Capital Markets was named the Best Forex Broker for Advanced Traders in 2020 by Investopedia based on its comprehensive product offering, cutting-edge user interfaces, and exceptional research capabilities. Investing.co.uk has been helping British traders find the right broker for over 20 years. UK clients can register a maximum of three cards with one account. This is high vs competitors like Degiro and Interactive Brokers.