Saxo Bank User Reviews

Saxo Bank

  • Name : Saxo Bank
  • Website : saxobank.com
  • Established : 1992
  • Regulation : FSA, Bank of Spain, MAS, SFBC
  • Country : Denmark
  • U.S. Clients Allowed : No?
    Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
    See our list of recommended brokers that do accept US traders.
* Ranked #6 of 316 in DailyForex's top broker list

Info

Name : Saxo Bank
Website : saxobank.com
Established : 1992
Country : Denmark
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Large Banking Institution
  • Fully Regulated

Disadvantages

  • U.S. Traders Not Accepted

Saxo Bank User Reviews

Saxo Bank User Reviews

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6 User Reviews Add Comment
  • AMIFOX Brokerhouse

    + FOREX from 0,4 Pips EUR / USD (average 1,4 Pips) + Minimum deposit $ 0 + Gold, Silver, Commodyties, CFDs, Futures, Index,... + trade micro Lots 0,01 + Leverage 1:500 + deposite per credit card + MT4 Trading-Platform + EA Trading ...

    AMIFOX Brokerhouse February 2011
  • Avi Bessler

    Dear Sirs, I have deposited in Saxo Bank 50,000USD for trading, on my first day of trading although it not the first time I am trading forex, I have touched one of their buttons in the program. A trading has started, not even letting know that, not even letting me approve that, and not letting me close it. I have lost 1000USD!!! They were rudely telling me that I can move my money from the account if I want! I said I am not moving without my money. And now...they want to wait 60 days! to giove an answer? Crazy. Aviad

    Avi Bessler October 2009
  • L Court

    I have been using Saxo Trader platform for several months for stock trading. Whilst it has many good features, it has a number of major problems and its use is turning into a nightmare: 1. There is no transparency regarding bugs in the system. You find major problems, report them, only to be told, for example, that the problem is known, and they are working on a solution. But there is no advice when bugs are fixed. For example, I recently found that virtually ALL the daily charts for Xetra DAX constituents (and no doubt other exchanges as well) were wrong: eg, the decline on K+S one day of 3% was reported as a small gain. So all technical analysis using Previous Close data are incorrect! 2. They introduce a new version, and you find that it has bugs because of inadequate testing. But there is no provision to reinstall a prior, more stable version. 3. They seem to put all their efforts into adding more 'bells and whistles' when basic problems still exist. 4. There are extensive charting features, but there are major problems with chart basics. For example, the horizontal time scale is often broken up into unequal divisons; and even when the time divisions are equal, say 45 minutes, the horizontal space for each may differ markedly, so that the real shape of the chart is distorted. Vertical grid lines often occur haphazardly and not at major time intervals. These problems have been around a while, but no attempt seems to be made to fix them. 5. "Help" is hopelessly inadequate. Many features are simply not described; sometimes the description is incorrect. There’s got to be a better platform than this.

    L Court July 2009
  • Hans Jensen

    CORRECTION TO PREVIOUS CORRECTION: Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricing as for instance SP500: 849.45/850.46 will give them a fill without the client gets a fill. A limit sell order at 849.50 will not be done before the market goes 849.70 bid and buy that time they have allready sold position at 849.50 ... if market never go 849.70 bid they will run your short trade. The same issue with the dow cfd that also is quoted fractually.

    Hans Jensen April 2009
  • Hans Jensen

    CORRECTION TO PREVIOUS: Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricing as for instance SP500: 849.45/850.46 will give them a fill without the client gets a fill. A limit sell order at 849.50 will not be done before the market goes 849.60 and buy that time they have allready sold position at 849.50 ... if market never go 860 they will run your short trade. The same issue with the dow cfd that also is quoted fractually.

    Hans Jensen April 2009
  • Hans Jensen

    Trading CDF based SP 500 and Dow is not recommended with saxobank. Besides that the spreads are wider than other companies, they manipulate the quotes based on the order book. As they use factual pricing as for instance SP500: 849.45/850.46 will give them a fill without the client gets a fill. A limit sell order at 850 will not be done before the market goes 860 and buy that time they have allready sold position at 850 ... if market never go 860 they will run your short trade. The same issue with the dow cfd that also is quoted fractually.

    Hans Jensen April 2009

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Review info: Saxo Bank
Review Date:
Rating : 4
Reviewed By :