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Saxo Bank Review Scores

Overall Score: 3.4 / 5

Total Votes: 11
Customer Service
1 - Worst   5 - Best

Saxo Bank Discussion

Pinball (pinball)
Oct 26 2009 at 20:50
159 posts
I use them for futures, cfds's index trading, silver and gold, but not forex. Have been using them for forex too.

Bad stuff : No API
spreads not the best in the market (but gotten better)
Positions held have a rollover cost that is hard to figure, also applied interest rates are not easily figured out from their reports
used to have a live trader chat, but now it's gone
opening and closing positions below a certain threshold costs you a flat fee. (and of course still the spread)

good stuff :
You can trade almost ANYTHING imaginable. practically all futures trading anywhere in the world, CFD's on most popular stocks from anywhere in the world, lots of stocks too. forex.
CFD's can be levered lots more than stocks but move the same
sp500 index cfd where you can take a position down to 1 index, (about $1050 these days)
platform is generally stable and i've had it open for a week in a row 24/7 no problem

if You have a complicated account, they actually call you before you get a margin call, and you can get them to offload part of it over the phone, so you won't be thrown out of the markets around the globe on a rolling liquidation of everything. When i had a relatively large acct there, they treated me very well. (about $300K assset value acct.)

If You want to trade an account like a hedge fund, or lige george soros would've done (trading whatever is the most profitable right now), saxo is a good place to be.

The saxo bank platform is in use at many other brokers too, but whitelabelled, that is - you don't know it, but you are trading with saxo bank, through the other broker.

Timely and punctly deposits and payouts.

Currently i use saxo bank for complex stuff and longterm bets on macro scenarios, and oanda for shortterm stuff and forex and api trading.

knowledge as well as smarts are needed to make money.
Oct 06 2012 at 14:43
3 posts
I hated the way that they called straight away and don't leave you alone to decide whether to fund or not. I like to feel welcome, not presseured. Didn't even log in to my account!

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