Saxo Markets Guide – Read our In-Depth Saxo Markets Review
This Saxo Markets review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Saxo Markets review does not apply to US users.
If you're a new entrant in the world of trading and brokerage, so many facts will be confusing for you. Getting into the area of trading requires expert assessing skills and thorough understanding. You'll get proficient at all the concepts of brokerage as you continue trading. For starters, you have to choose the right agent who'll be clear with you always.
In this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment program will create hefty returns. Saxo Markets is one such platform which will take you and your investment to great heights. It's important to understand all about Saxo Markets before you trust them with your cash.
Our full Saxo Markets Review covers everything you will need to know about trading using Saxo Markets. A good broker can multiply your first investments and give you positive profits. If you want to make profits, you should trade with a broker service that aligns with your investment objectives.
There's absolutely no sure-fire way to guarantee profits; thus, you must carefully analyze your agent before you choose them. It is a frequent misconception that all agents are exactly the same, but that's not correct. Wrong judgment, in the beginning, can put your investments in danger.
Saxo Markets is a broker that has found its way successfully into the broker world. Within this review, we've tried to collate some of the important facets of Saxo Markets. This review will allow you to know whether Saxo Markets is a good match for your investments or not. We've attempted to breakdown all of the qualities and charges for your convenience.
Saxo Markets Review, Table Of Contents
- Who are Saxo Markets?
- Benefits Of Trading With Saxo Markets
- Everything you should know about trading with Saxo Markets
- Is Saxo Markets Safe To Trade With?
- Pro's & Con's Of Trading With Saxo Markets?
- Compare Brokers Similar To Saxo Markets
- Regulation And Licencing In More Detail
- Saxo Markets Awards
- Minimum Deposit Required For A Live Account With Saxo Markets
- Saxo Markets Commission And Fees Explained
- Compare broker fees against Saxo Markets
- Saxo Markets Withdrawal Fees Explained
- Saxo Markets Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Saxo Markets?
- Alternatives To Saxo Markets
- Frequently Asked Questions About Saxo Markets
Who are Saxo Markets?
Saxo Markets is a forex broker headquartered in Denmark and provides a range of tools for online trading. Since its beginning in 2012, Saxo Markets has emerged as a leading player in the industry of online brokerage. Saxo Markets includes a highly competitive and full-featured trading site that's focused on currency, indices, metals, stocks and commodities.
Over the past 9 years, Saxo Markets has grown into one of the leading online brokers.
After establishing in 2012, their customer base is becoming as big as 10,000+ clients.
Saxo Markets is a favorite for many traders.. Our Saxo Markets review found that they are an excellent choice for automated trading options. It's most appropriate for investors that are looking for an assortment of assets. Social and automated trading options are the core at Saxo Markets.
Technology plays a substantial role in Saxo Markets. Saxo Markets offers trading on Mac, Web Trader, Tablet & Mobile apps. Saxo Markets is honest, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house research.
The educational department at Saxo Markets is very insightful for new dealers as it permits them to have a closer look in the financial markets. Saxo Markets caters to all types of traders and are a must-have broker for any well-diversified method of trading.
If you feel that Saxo Markets is not right for you then at the bottom of this Saxo Markets review you wil find a lot of alternatives to Saxo Markets.
What you should know about trading with Saxo Markets
Saxo Markets is a dynamic platform that provides various methods of online trading. These tools cover the monetary markets substantially. The Majority of the brokerage platforms offer less approaches than Saxo Markets
If you would like to trade with Saxo Markets, you will require a minimum deposit of $6500. This deposit is mandatory if you would like to begin trading with Saxo Markets. This 2021 Saxo Markets review will guide you clearly about trading with them.
Saxo Markets is as versatile as any other brokerage platform. Saxo Markets is ideal for traders who want a manageable array of cheap services. The programs supplied by Saxo Markets are third party, white-label offerings. All traders can select out of Mac, Web Trader, Tablet & Mobile apps.
Together with everything, Saxo Markets has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a transaction must be kept open. The agents offer premium customer service that rewards clients with benefits.
Many less reputable brokers attempt to pressurise consumers into larger funding for premium services. Saxo Markets, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the user, the greater advantages will become available.
Saxo Markets accounts are available around the world and provides outstanding service everywhere they have clients. There are only a select few countries where Saxo Markets accounts are not available. Traders in the following countries cannot open or use a Saxo Markets account:
Is Saxo Markets Safe To Trade With?
Established in 2012, Saxo Markets has been operating for 9 years, they are headquarted in Denmark.
Saxo Markets is regulated by Financial Conduct Authority (FCA). These figures have rules that mandate that trading platforms have ploicies in place to maintain investor's assets procured. This usually means that Saxo Markets users don't need to be worried about their money since it's segregated and safely stored in established banks. SSL encryption simplifies each user's private information as well.
You are able to make use of an option for Two Factor Authentications (2FA) with Saxo Markets for heightened security. An SMS for the confirmation code will be sent to a phone. You will be required to enter this code to log in to your accounts.
Another concern with fiscal brokers is in regards to security may be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is much more prevalent in the example of Market Maker agents who compete with customers on the platform.
Pro's & Con's Of Trading With Saxo Markets
Every online trading platform has a few pros and cons Saxo Markets review would be complete without showing both sides. This Saxo Markets review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Saxo Markets Pro's
- Saxo Markets is trusted by 10,000+ clients
- Saxo Markets doesn't charge withdrawal fees
- Saxo Markets doesn't charge inactivity fees
- Saxo Markets doesn't charge deposit fees
- Saxo Markets offer trading on Mac, Web Trader, Tablet & Mobile apps
- Saxo Markets offer 100 trading instruments
- Saxo Markets trades major forex pairs
- Saxo Markets trades minor forex pairs
- Saxo Markets trades exotic forex pairs
- Saxo Markets can communicate in
Saxo Markets Con's
- Saxo Markets does not offer Negative Balance Protection
- Saxo Markets does not offer Guaranteed Stop Loss
- Saxo Markets doesn't offer trading on cryptocurrencies
- Saxo Markets charge CFD fees
Saxo Markets Review - Compare Brokers Similar To Saxo Markets
|Regulated By||Financial Conduct Authority (FCA)||Unregulated||Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048||Unregulated|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits||Your capital is at risk|
Saxo Markets Review - Regulation And Licencing In More Detail
Saxo Markets is regulated by Financial Conduct Authority (FCA).
Saxo Markets, as a business, has a strong set of rules for ensuring fair trading onto its own platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer information is never to be shared with some other institutions or individuals. Including credit history and other financial details.
Saxo Markets Review - Awards
- At the time of writing this Saxo Markets review, they had not received any awards.
Saxo Markets Review - Minimum Deposit Required
The minimum deposit that you must deposit to begin on Saxo Markets is $6500. This is a decent amount for those just starting out. It's possible to create more complex residue as you go along. But, make certain that you understand how to make the most of your cash before investing in larger amounts.
Saxo Markets Review - Commission And Fees Explained
Saxo Markets is an online broker platform, and most online brokerages charge lower fees than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled better. In other words, an online broker is not necessarily affected by the number of customers they have.
But this doesn't mean that online brokers don't charge any fees. They charge prices of varying rates for various services to earn money. There are mainly three different types of fees for this purpose.
The first sort of fees to look out for are trading fees. Whenever you make an actual trade, like purchasing a stock or an ETF, you are charged trading charges. In these cases, you are paying a spread, funding rate, or a commission. The sorts of trading charges and the prices vary from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread denotes the gap between the buying and selling price. Financing or overnight prices are those that are charged when you maintain a leveraged position for more than a day.
Aside from trading charges, online brokers also bill non-trading fees. These are determined by the actions you undertake in your account. They're billed for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, Saxo Markets doesn't charge high fees compared to other online brokers. For operations other brokers charge for, they do not charge a broker fee, or they charge a lesser amount. This is beneficial for people who often exchange, for example daily or weekly trading.
But, non-trading fees charged by Saxo Markets are comparatively lower. As a result, you're billed more for non-trading actions in your trading account, like withdrawal and deposits. These aren't related to the purchase and sale of assets.
This Saxo Markets review breaks down each of the relevant non-trading charges for you in detail.
Compare broker fees against Saxo Markets
Saxo Markets Review - Withdrawal Fees ExplainedSaxo Markets doesn't charge withdrawal fees
Withdrawal of money is possible at any time from the Saxo Markets account. It's possible to draw sums up to the amount of your account balance, keeping aside the margin used. One thing to remember is that you don't necessarily have to have any cash on your account.
In addition, the withdrawn money will be moved directly to the accounts you use to make deposits. Thus, if you used a credit card for deposits, then the withdrawn money will be sent to the card. Saxo Markets will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you are withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you're choosing to withdraw in.
Saxo Markets Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your mind while open an account with Saxo Markets. An inactivity fee is an amount charged to registered dealers that have not engaged in buying or selling for a while. The period considered inactive is decided by the broker.
The inactivity fee also differs from one agent to another and is not generalized. If a traders account does not have a purchasing or selling trade, it is claimed by the agent as an inactivity charge. The traders need to pay this commission under terms and conditions that they had consented while enrolling.
Saxo Markets doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges are implied by Saxo Markets, it is better for you to close the account if you're inactive. Inactivity fees aren't just charged by brokerage firms but also many financial services.
For additional trading platforms, the inactivity fee depends on the sort of account you have selected. The inactivity fee is exposed to many circumstances and should be disclosed clearly by the broker beforehand.
Saxo Markets Review - Deposit Fees Explained
When you move money into your trading account by your bank account, a deposit fee can be billed by the broker. Most agents don't charge too much money for this operation.
Saxo Markets doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the Saxo Markets trading platform is simple. You simply need to complete a single-user profile survey to begin depositing money into your trading account. You will have to give an identity evidence and proof of residency to deposit substantial amounts.
Saxo Markets Review - Compare Broker Deposit Methods
What Can You trade With Saxo Markets?
Note: Saxo Markets provides many different trading instruments due to regulatory restrictions in various countries. Trading instruments offered may differ depending on the country of residence of the client.
Saxo Markets has a wide variety of over 100 instruments available for you to trade with.
If trading forex pairs is of interest to you then Saxo Markets offer over 200 forex pairs.
Compare Saxo Markets, Ellevest, HYCM & Wealthfront below.
Alternatives To Saxo Markets
If, after studying this Saxo Markets review, Saxo Markets doesn't quite meet your requirements check out these Saxo Markets alternatives.
We've scoured the web to find the best alternatives to Saxo Markets. Click the links below to learn more.
Frequently Asked Questions about Saxo Markets
Can I try Saxo Markets before I buy?
Yes, you can most certainly try Saxo Markets before you buy. Saxo Markets offers demo accounts for the convenience of new traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.
If you sign up for a demonstration account on Saxo Markets, you will set out with a decent amount of virtual money. It is to establish a feeling of safety and confidence in you until you choose to spend your own money.
With this digital Saxo Marketsdemo account, you can experiment at all, to whatever period you desire. You might also open positions, test different trading strategies, and much more.
Saxo Markets specifies on its official website that you can trade real time stocks in a demo account.
Is Saxo Markets safe?
You can drop all your worries since we believe that Saxo Markets is completely safe to use. It's in compliance with the rules of Financial Conduct Authority (FCA).
Nevertheless, Saxo Markets does not provide assured stop-loss protection.
Why does Saxo Markets ask for my passport?
The reason that Saxo Markets asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Saxo Markets has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Saxo Markets must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Saxo Markets?
The process to start trading withSaxo Markets is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Saxo Markets website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Saxo Markets is $6500. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Saxo Markets.
The best way to kickstart your trading career with Saxo Markets is to open a demo account facility before risking any real money
What funding methods do Saxo Markets accept?
There are a number of methods to finance your account with Saxo Markets. The process is effortless and quick, with different payment methods in your fingertips.
You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing money. You must bear in mind that PayPal is not available in all place. The currencies Saxo Markets
Is my money safe with Saxo Markets?
Yes, your money is safe and secure with Saxo Markets. As you know, Saxo Markets operates with good conformation to. It has established lots of measures to protect all its own investors.
Saxo Markets protects its customers' personal and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further protect your accounts, it is possible to empower Two-Step Verification also. It takes an SMS confirmation for you to access your accounts.
Is Saxo Markets trading good?
Yes, trading through Saxo Markets is a pleasant and decent experience indeed. It's an excellent and intuitive platform with useful features for your ease. In addition, you can even gain access to a vast selection of educational tools and assistive material to kickstart your trading expertise.
If you remain skeptical, you can open a eToro demo account and assess the credibility of the platform for yourself.
Which Countries does Saxo Markets support?
Saxo Markets operates around the globe. However, due to regulations there are some countries that Saxo Markets can't accept clients from
Is Saxo Markets legit?
Saxo Markets is a legit company headquarted in Denmark since 2012. They are regulated by Financial Conduct Authority (FCA). Saxo Markets is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Saxo Markets a good broker?
Saxo Markets is a great broker, and its users can vouch for this. The highlight of the platform is its fast order execution on trades.
You will discover the clean design of this platform along with the admirable features a pleasure to work with.
Is Saxo Markets a trustworthy broker?
Yes, Saxo Markets is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Saxo Markets?
The minimum deposit to open a live account with Saxo Markets is $6500
How long do Saxo Markets withdrawals take?
Normally, withdrawal of money from Saxo Markets is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Saxo Markets to show in your bank account.
Are Saxo Markets regulated?
Saxo Markets are regulated by Financial Conduct Authority (FCA)
Is Saxo Markets a market leading broker?
Saxo Markets is currently among the business leaders. It has over 10,000+ registered customers and over 9 years of expertise on its own record. They're among the world's top trading platforms and also a prominent figure in the Fintech revolution.
It majorly owes this standing to its unbelievable platform and broad selection of resources plus tools so you may invest in capital markets.
Is Saxo Markets a con?
No, Saxo Markets is not a con. They are regulated by Financial Conduct Authority (FCA) and must adhere to their rules. Thus, it is safe to say that Saxo Markets is not a scam.
Can you make money with Saxo Markets?
Using Saxo Markets, many traders earn a great deal of cash. However, on average, through continual trading, you can make between 2% - 10% profit a month.
This may seem like a little number, but within the year, this adds to a substantial amount of gains. While Saxo Markets supply you all the tools to earn money, they cannot guarantee you will gain.
Does Saxo Markets have fees?
Yes. To start trading with Saxo Markets, you have to deposit $6500. Certain commissions while trading also applies. Any processing fees from your bank will need to be incurred by you.
When was Saxo Markets founded?
Saxo Markets was founded in 2012 in Denmark. Saxo Markets is regulated by Financial Conduct Authority (FCA).
How many people use Saxo Markets?
Saxo Markets is a worldwide recognised agent with 10,000+ customers.
Where is the Saxo Markets head office?
Saxo Markets has its head office in Denmark
Does Saxo Markets offer negative balance protection?
No. Saxo Markets does not offer negative balance protection. If your balance is negative, Saxo Markets suggests you contact customer services. For this, you can correct any imbalances in your account.
Does Saxo Markets offer guaranteed stop loss?Saxo Markets unfortunately, doesn't provide guaranteed stop loss. Saxo Markets gives a chance to its dealers to close their trade in their given price. Apart from that, Saxo Markets doesn't provide guaranteed stop loss.
Does Saxo Markets allow scalping?Yes, Saxo Markets do permit scalping. Many traders across the world select Saxo Markets due to their services that are trading. They offer trading on Mac, Web Trader, Tablet & Mobile apps which allow this.
Does Saxo Markets allow hedging?
Yes, Saxo Markets does allow hedging.
Can you trade energies with Saxo Markets?
Yes, you can trade energy stocks with Saxo Markets
Can you trade agricultural shares with Saxo Markets?
Yes, you can trade agricultural stocks with Saxo Markets
Can you trade cryptocurrency with Saxo Markets?
No, unfortunately you cannot trade cryptocurrency with Saxo Markets
Can you trade metals with Saxo Markets?
Yes, you can trade metals with Saxo Markets
Can you trade UK Shares with Saxo Markets?
Yes, you can trade UK shares with Saxo Markets
Can you trade US Shares with Saxo Markets?
Yes, you can trade US shares with Saxo Markets
Can you trade Japanese Shares with Saxo Markets?
No, unfortunately you cannot trade Japanese shares with Saxo Markets
Can you trade German Shares with Saxo Markets?
Yes, you can trade German shares with Saxo Markets
Does Saxo Markets accept bank transfers?
No, Saxo Markets does not accept bank transfers.
Does Saxo Markets accept credit cards?
No, Saxo Markets does not accept credit cards.
Does Saxo Markets accept PayPal?
No, Saxo Markets does not accept PayPal.
Does Saxo Markets accept Skrill?
No, Saxo Markets does not accept Skrill.
Does Saxo Markets accept Payoneer?
No, Saxo Markets does not accept Payoneer.
Does Saxo Markets accept Neteller?
No, Saxo Markets does not accept Neteller.
Does Saxo Markets offer Live Chat customer support?
No, Saxo Markets does not offer customer support through live chat.
Does Saxo Markets offer phone customer support?
No, Saxo Markets does not offer customer support over the telephone.
Does Saxo Markets offer email customer support?
No, Saxo Markets does not offer customer support through email.
What languages can Saxo Markets communicate in?
Saxo Markets has the ability to communicate and support customers who speak:
Does Saxo Markets have a wikipedia page?
No, Saxo Markets does not have an official wikipedia page.
Does Saxo Markets offer demo accounts?
Yes, Saxo Markets offers demo accounts so you can learn their systems before risking any real money.