Saxo Markets Review – Is This A Broker You Can Trust? Saxo Markets, a part of Saxo Group, has been a leader in the trade and investment industry for over 25 years. They specialize in investment and online trade through platforms such as Forex, stocks, bonds, and many more. All these channels have assured security for all their partners and customers.
Saxo Markets invests in their own company by upgrading their technology to match the market. This secured and well-maintained technology has enabled them to gain numerous customers by the day. As they ensure security and quality services, Saxo Markets is indeed a financial institution to run to and trust with your resources not just for the short-term but rather for the long-term.
Here is an excellent review video about Saxo Markets broker;
Saxo Bank and Its History
Founded in 1992 by a broker and a banker, Saxo Bank was initially named as Midas Fondsmæglerselskab. It was a brokerage firm when they first started. However, in 1997, it was renamed to Saxo Bank, seeing that they had a competitor of a similar name.
The company is based in Copenhagen, Denmark. They have expanded their brand, in the early 2000s, to numerous capital cities in the world such as Tokyo, London, and Dubai, Singapore. International expansion of the bank meant more banks established to provide products and service to many more customers.
The Danish Financial Supervisory Authority (FSA) regulates Saxo Bank. They were the first company recognized as a broker in Denmark thanks to the European Investment Directive in 1996. It was in 2001 that the company successfully gained licenses to operate as an investment bank.
Today, Saxo Markets has successfully dominated online trading and investments with its products such as Forex, CFDs, mutual funds, commodities, and many more tops the charts. Proof of this is the numerous awards and recognitions from different organizations and industries from 2014 up to the present.
Market and Customers
With clients in over 170 countries, Saxo Bank incurs a million transactions every single day, each contributing to the $17 billion customer deposits of the company. Here are the states where customers are authorized to open Saxo Bank accounts.
- Czech Republic
- Hong Kong
- South Africa
- United Arab Emirates
- United Kingdom
This list just proves that the market recognizes the quality assurance of the company. Customers locally in Denmark and internationally, patronize their products and services with convenience and quality service.
The technology used by Saxo Bank ensures its customers that they can access the service of the company throughout their different platforms with just one account. Saxo Group has two leading platforms introduced to their market – SaxoTraderGo and SaxoTraderPro. Here are their main features.
Introduced in 2015, Saxo Bank launched a platform to cater to its customer’s desire for mobile trading investments naming it SaxoTraderGo. The application is available on mobile devices, laptops, Macbooks, and Windows-operated desktops. According to Saxo Group, the majority of their market prefers the said platform.
SaxoTraderGo is easily accessible by the clients to monitor their investments and other products of Saxo. The app is free of charge and has no monthly subscription fees; however, there are some functions and levels in the application that require a subscription for access.
This platform is an advanced version of its predecessor. The company launched SaxoTraderPro in 2018 to cater to the more active and high-volume traders and investors. Unlike the SaxoTraderGo, this specific platform of Saxo Bank requires a firewall for the devices to access one’s Saxo account safely.
As an updated version, this platform is only accessible through a downloadable application. Clients can download the app for free and do not have to pay any form of subscription fee unless they want access to other more advanced features.
Saxo Markets introduced these two platforms to meet the trading needs of their customers safely. As they have invested in technology and internet-based operations, these applications sure do adhere to that. Log-in and navigation of these apps will not be a problem as they are user-friendly and easy to control.
Accounts and Services
A Saxo account must be opened for trading and investments. Saxo has three types of accounts offered. You can open your Saxo account through their official website.
- Classic Account – Clients will be able to acquire 24 hours for five days of technical and account support. This type has tight entry prices and guarantees excellent digital services with a minimum funding of $10,000.
- Platinum Account – A minimum funding of $200,000 is needed. The best digital services can be acquired with 30% lower prices. Technical and account support is provided 24/5. The local language is also a priority for customer service with this account.
- VIP Account – A personal relationship manager is provided to the client. 24/5 direct access to trading experts, along with technical and account support, comes with this account. One key feature of the VIP account is the exclusive invites to events is granted to the client.
Key Features and Benefits of Saxo Bank
Clients can expect the best online trade and investment services from the company with these features.
- Trading fees are worth the payment and are itemized for easy calculation.
- Saxo Bank is transparent with their surcharges and fees.
- A variety of investments is available. Clients have options to choose from for trade and other transactions.
- Digital and online platforms have a user-friendly interface and make transactions and trade businesses more accessible and more convenient.
- Access of the two Saxo platforms can be done with only one account. Mobile transactions are easier to do for clients because you can access Saxo accounts with your phone and computers.
- Their research tools are up to date and very helpful to new clients and users. Options and trading ideas are presented clearly.
- Charts and other content in the account are easily identified and understood.
- Deposit fees do not exist. Other bank transactions can be done with a credit or debit card.
- Transactions are kept secure and confidential as what should be for trade and investments.
- Support and customer service is provided for inquiries and needed help or assistance.
Saxo Markets also has a downside to its platform and services.
- Some investment options and products are limited, depending on location.
- Transactions are not available for electronic or digital wallets.
- The application and website do not utilize log-in verification.
- The availability of round-the-clock customer support is not available. It is inconvenient for some clients who can have specific time access for their accounts. No live chat with a representative is also open.
Saxo Bank provides a great trade and investment service for their market. Their online applications are easy to navigate and can be utilized with comfort. With the provided access to Saxo platforms using only one Saxo account, transactions are done smoothly and offer more convenience to the client and trader.
Despite these quality assurances, Saxo Group only provides its services to a limited range of markets given that it is not available in most countries. Though there are numerous states with their platforms and services, trade is still limited. Overall, Saxo is a brand trader who can genuinely be trusted with one’s finances. Thanks to technology, Saxo Bank is certainly a top-tier in the trade and investment industry.
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.