Saxo Bank forex broker review and detailed information
How does Saxo Bank compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.
Basic information
| Website | Visit Saxo Bank |
| Type | MM |
| Regulated by | Bank registered in Denmark |
| Country | Denmark |
| Established in | 1992 |
| Live chat | yes |
Trading terms
| Commission (pips) | 0.00 |
| Fixed spread | yes |
| Variable spread | no |
| Spread on majors (pips) | 2.0-5.0 |
| Leverage | 100:1 |
| Minimum deposit (USD) | 2000 |
| Minimum trade size (USD) | 100000 |
Available features
| Number of currency pairs | 160 |
| Precious metals | yes |
| Oil | no |
| Hedging | no |
| Trailing stop | yes |
| Free automated trading | yes |
| MetaTrader 4 | no |
| Mobile trading | yes |
Forex account
| Demo account | yes |
| Interest on unused balance | yes |
| Islamic swap-free accounts | |
| Accepts U.S. citizens | yes |
| Payment by Bank wire | yes |
| Payment by Credit card | no |
| Payment by PayPal | no |
| Payment by check | no |
| Other payment options | |
| Account in USD | yes |
| Account in Euro | yes |
| Account in GBP | yes |
| Account in CHF | yes |
| Account in JPY | yes |
| Account in AUD | yes |
| Account in CAD | yes |
| Account in NZD | yes |
| Account in CZK | yes |
| Account in DKK | yes |
| Account in HKD | yes |
| Account in ILS | no |
| Account in NOK | yes |
| Account in PLN | no |
| Account in RMB | no |
| Account in RUR | no |
| Account in SEK | yes |
| Account in SGD | yes |
| Account in ZAR | yes |
Languages
| Arabic | yes |
| Chinese | yes |
| Czech | no |
| Dutch | no |
| English | yes |
| French | yes |
| German | yes |
| Greek | yes |
| Hebrew | yes |
| Indonesian | no |
| Italian | yes |
| Japanese | yes |
| Korean | no |
| Malaysian | no |
| Polish | yes |
| Portuguese | yes |
| Russian | yes |
| Spanish | yes |
| Turkish | yes |
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Saxo Bank customer reviews
Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.
Aga
2009-08-17
Bad performance, I do not reccommend that bank to anybody.
Mai
2010-02-10
Please stay away from Saxobank. It is the worth broker ever. It takes only few second to deposit your account, but it is extremely difficult to withdraw cash from your account. I withdrawn my money last week, but haven't got any money so far and I am not sure if I would get it.
I have called them several times, and they said everytime I called that you would get money today, but money never be transferred to my bank account.
The platform is horrible, too many errors and delay. I have experienced an error such as "internal server error". You cannot place an order, cancel an order or even change your stop loss, unless you sign out and sign in again.
You stop loss does not stop at the point you set, and you will always loose money more than you have set your stop loss.
They wrote on their website, that the minimum deposit is 2000 USD, but this account is not available, and they will ask you to pay 10000 USD for deposit.
Saxobank is SCAMP. Please stay away from them.
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