Saxo Bank - Forex Broker Review

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Saxo Bank is a global investment bank with its headquarters in Denmark. It specializes in online trading of the various markets in the financial world and are present in well over 200 countries. It received the European bank status in the year 2001 and has ever since become one of the big boys of online trading.

It developed four specialized and integrated trading platform for both the experienced ones and those who are new to the market. It also supports a global base of corporations, financial institutions and clients with the help of its specialized multinational staff.

What’s on offer?

As a client you will be entitled to the following:

• Over 150 currency crosses
• Competitive bid/ask spreads
• A range of free information, market analysis and news to kick start your trading career
• Margin trading with low margin requirements
• Ability to trade other markets such as stock, futures, FX options
• Access to private wealth management if you have more that EUR 200,000 to invest.

Pros

• An award-wining platform
• In-house FX-specialists provide strategies for the coming week or month
• They are a strong solid company
• Good customer service.

Cons:

• Opening an account with them is somehow complicated
• It can sometimes be very slow in transferring your profits back to your bank account
• Spread increases during volatile market.

Saxo Bank has been providing state of the art services since 1992 to private clients, banks, institutions and brokerage firms but you may come across a lot of negative reviews around the net concerning their Forex services. Remember that Forex in an unregulated market, which may cause some issues even when you deal with a reputable firm as big as this one.

Being a reputable broker does not mean that they are best suited for you. Weigh the pros to the cons and see which qualities you will be looking in a broker. You will definitely be interested in a broker not placing positions against you.

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