The brokerage firm SaxoBank was started in 1992 under the name Midas. The FSA, a Danish Financial Supervisory Authority, licensed the broker in 2001. The company’s name was changed to SaxoBank after that. Clients from 170 countries can now access various financial markets via the broker’s website. According to FX Week’s e-FX Awards and ADVFN International Financial Awards, the SaxoTraderGO terminal was named the best trading platform for active trading in 2017.
Without any further ado, let’s have a look at the saxo bank review to get more familiar with its benefits, pros, and cons perfectly;
Expert Review of Saxo Bank
In the Traders Union Forex broker rating, SaxoBank is well behind. The cause for this undervaluation is due to a huge amount of negative customer feedback and ongoing issues with the trading terminals’ operation. Only skilled traders and investors who are willing to deposit $10,000 or more are eligible for the broker’s terms. This firm does not cater to inexperienced traders.
Multi-million-dollar transactions, access to 85 trading exchanges and platforms, top bank quotes, and professional service in 20 languages are all available to SaxoBank clients. Client monies are kept in segregated bank accounts by the broker, who is a member of the investor compensation fund. The organization provides the option of generating additional income by investing in pre-made diversified portfolios.
The SaxoBank terms and conditions can be read in only a few minutes thanks to a well-structured website. There’s also a part on the site dedicated to teaching and training, offering comprehensive content on a variety of financial markets. Just learn forex trading and you’ll surely get more familiar with all about how to trade in Saxo Bank.
SaxoSelect has efficiently managed investment portfolios
SaxoSelect is a collection of skillfully managed portfolios with risk levels ranging from low to extremely high. Ready-made portfolios are created with the intention of being invested in for numerous years. The trading tactics include pre-built portfolios with huge returns, but they are also quite dangerous. They’re based on macroeconomic variables and central bank policies that take events and instrument volatility into account.
- The ability to build a portfolio based on the risk level that is most acceptable to you.
- A minimum investment of 10,000 euros is required.
- There is no frozen period, and you can withdraw your funds at any moment without incurring any further fees.
- The service fee (0.5 percent each year) and commissions of up to 20% in the event of a profit based on the reporting period’s outcomes.
To invest in investment portfolios, you must first answer numerous questions on the trading site. This is required in order to figure out which trading methods are best for you. Trading begins automatically when you select a portfolio and make a minimum investment. Without the investor’s direct involvement, experienced traders make their own judgments on behalf of the investor.
Advantages of trading with Saxo Bank:
- Professional traders with at least one year of experience can benefit from preferential trading terms, which include access to over 40 thousand trading instruments as well as the option to invest in ready-to-trade long-term portfolios managed by specialists.
Disadvantages of Saxo Bank:
- There are not any cent accounts available.
- There is a prohibition on algorithmic trading for foreign traders, and you can’t contact help using the company’s website’s online chat.