Saxo Bank Review

The moment I decided to do a Saxo bank review, the first question I asked myself is if this is Saxo a broker or a real bank.

I have known Saxo Bank to be a broker for many years but I had to ask why they refer to themselves as a bank.

Wikipedia did answer this question spectacularly;

 It was founded as a brokerage firm in 1992, under the name Midas Fondsmæglerselskab, by Lars Seier Christensen, Kim Fournais, and Marc Hauschildt.

The name was changed to Saxo when the company obtained a banking license in 2001.

The company functions as an online broker with a bank license, without offering traditional banking products.

Wikipedia

Now let me do a proper review of their brokerage services.

Below, is a table showing a quick review of this broker.

Year Founded	1992
Minimum Deposit	$2000
Free Bonus	No
Cent Account	No
Leverage	1:30
Saxo Bank Spread	as low as 0.4 Pips for Forex
Saxo Bank ECN	No
Deposit Methods	Bank Transfer, Card, Portfolio Transfer
Withdrawal Methods	Bank Transfer
MT4	Yes
MT5	No
Mobile App	Yes
Copy Trade	Yes
Trust Score	95%

Is Saxo Bank Safe and Regulated

Saxo bank is high on regulation that I began to wonder if they smoked it.

This broker is the most regulated of all I have been reviewing till today.

Below is just a few of the licenses that Saxo bank has. Cutting across many countries in the world

• Saxo Capital Markets UK Limited is authorized and regulated by the Financial Conduct Authority (Firm reference number 551422)
• BG SAXO Società di Intermediazione Mobiliare S.p.A. is licensed by Italian Market Authority – Consob (Albo SIM – Registration Number: 296)
• Saxo Bank A/S Czech Republic is registered by the Czech National Bank (Registration Number: 28949587)
• Saxo Bank A/S Netherlands is registered by the Bank of the Netherlands (Registration Number: 34357130).
• Saxo Capital Markets Pte. Ltd. Singapore is a capital markets services licence holder and an exempt financial advisor, and is supervised by the Monetary Authority of Singapore (Co. Registration Number: 200601141M).
• Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central Bank of the UAE.
• Saxo Bank – Representative Office is licensed by the Central Bank of the U.A.E. as a Representative Office (Registration number: 13/248/2019)
• Saxo Bank Securities Ltd. is licensed by the Japanese Financial Services Agency (Registration Number: 239)
• Saxo Capital Markets Hong Kong Ltd. is licensed by the Securities and Futures Commission in Hong Kong (Registration Number 1395901)

I simply cannot continue typing the licenses here, it’s quite stressful. Lol, I ain’t that serious.

So, you can tell that saxo bank is indeed very safe, legitimate, and highly regulated.

Saxo bank is also offering its services to many banks over the world. I must say this broker is the king of brokers.

Frequently Asked Questions – SAXO BANK REVIEW

Saxo Bank Account Type

My saxo bank review will be incomplete if I don’t put the different account types available on their platform.

Below are the three different account types available on saxobank

1. Saxo Bank Classic Account

• The minimum deposit here is $2000
• Tight entry prices
• Best-in-class digital service and support
• 24/5 technical and account support
• Also, spread and commission is higher on this account type compared to the other two account types

2. Saxo Bank Platinum Account

• The minimum deposit for this account type is $200,000
• Best-in-class digital service and support
• 24/5 technical and account support
• Priority local-language customer support
• Also, spread and commission are lower on this account type compared to the classic account type.

3. Saxo Bank VIP Account Type

You get the Vip treatment

• Minimum Deposit is $1,000,000
• Our very best prices
• Best-in-class digital service and support
• 24/5 technical and account support
• Local-language personal relationship manager
• Direct access to our trading experts, 24/5
• 1:1 SaxoStrats access
• Exclusive event invitations
• Spread and commissions are lowest on this account type.

Trading Platforms

The following are the trading platforms provided by SaxoBanks, first three are Saxo bank products while others are third parties apart from the Saxo open API.

• SaxoInvestor
• SaxoTraderGO
• SaxoTraderPRO
• OpenAPI for Excel
• MT4
• Trading View
• Update
• Dynamic Trends
• MultiCharts
• Saxo Open API

SaxoBank Review – Trading Instruments

• Crypto Fx
• Forex
• Forex Options
• CFDS
• Assets
• Stocks
• Futures
• Commodities
• Bonds
• ETFs
• Mutual Funds

Summary SaxoBank Review

As you must observed, this broker is at the top level.

While the $2000 minimum might be on the high and then very low leverage of 1:30 Pips;

So, I would advise that you really know what you are doing before moving your capital and assets to saxobank.

Hope this saxo bank review answers all your questions?