Home » SAXO Bank Review

Saxo Bank review
Saxo Bank specializes in online investing and investing in the global financial markets. Saxo Bank is a bank that from its inception has emphasized technology as an essential component to be competitive in the online investment industry. With a whopping $15 billion in assets under management and one million transactions per day, Saxo Bank is now a major player. In this review, we look at whether it is actually interesting to invest with Saxo Bank.Saxo Bank in briefSaxo Bank offers one of the best software packages on the market.You can trade in many different securities at Saxo Bank.You will receive more extensive support at Saxo Bank.With a minimum deposit of €10,000 not suitable for beginners.Compare Saxo Bank with other brokers Try Saxo Bank investing for free with a fictitious amount of €100,000Investing with Saxo BankIs Saxo Bank reliable?Saxo Bank is a global investment bank with its origins in Denmark. Since 2001, the broker has held a European bank status. This means that the bank has a banking license through the European guarantee system in Denmark. Your assets are therefore protected up to €100,000. The bank has a license from the AFM, but no KIFID registration for resolving complaints.Yet you do not have to worry about any problems. Saxo Bank’s customer service is available 7 days a week, 24 hours a day. Very strong is the fact that the customer service is also available in Dutch. So you will always be spoken to professionally. All in all, Saxo Bank is a reliable party to invest in!The platforms at Saxo BankAn important part of any broker is the platform. At Saxo Bank, the platforms are of an exceptionally high level and this is the spearhead for this broker. Every investor has the choice between the SaxoTraderGo and the SaxoTraderPro version. The Go version works entirely in the browser and is a lot simpler than the Pro version. Within the pro version you can perform the most extensive analyses.Fundamental analysisIt is possible to use the extensive fundamental analysis data provided by FactSet Research Systems. For each share you can request a clear company profile. Very extensive data can be requested. Think for example of the beta with the market or the social responsibility of the company. It is also possible to see if internals are selling their shares.Within the software of Saxo Bank it is also possible to request extensive results figures. These include profit and loss accounts, balance sheets and cash flow data. This data is available for the last five years. It is also possible to see estimates about the future. These estimates are based on past figures and should therefore not be seen as a guarantee.Fundamental analysis summaryTechnical analysisAlso in the area of technical analysis, the possibilities at Saxo Bank are endless. You can use six screens at the same time, which makes it possible to perform multiple analyses on one share at the same time. With the screens, it is also possible to monitor multiple securities at the same time. This is of course ideal for the active trader. At Saxo Bank you can use 50 different indicators including the RSI and Moving Averages. It is possible to go back up to 20 years. In the Go software it is also possible to see interpretations of the technical indicators. This way you can quickly determine a good entry moment.Saxo Bank technical signalsAnalystsSaxo Bank also scores very well when it comes to analyst recommendations. It is possible to see the ratio between the number of analysts who give buy, hold and sell advice. It is also possible to see how these ratios have developed over time. In this way you can see at a glance whether the price has moved along with the vision of these analysts.Unfortunately, there are no extensive options within the software to search for shares on the basis of certain factors. However, there is a search function that works well that makes it possible to find any share. Note that the CFD on the stock is usually displayed first. CFDs are especially useful if you want to do day trading in the short term.Analysts Saxo BankOfferings and further possibilitiesAt Saxo Bank you can trade in a variety of products. There are a total of 30 exchanges available linked to 26 different countries. At Saxo Bank you can trade in stocks, bonds, options, currencies, futures, CFDs and options, among other things. The prices are not displayed for free in real time. For this you have to pay extra.At Saxo Bank you can use all interesting types of orders. It is also possible to quickly place an order with one click. This is useful for day traders where a few cents rise or fall can make all the difference.It is only possible to go short through CFDs. Trading on margin can be done on currencies, CFDs, futures and options. Bonds with a high rating (A or higher) can be used as collateral.How to place a Saxo Bank orderCosts of investing with Saxo BankSaxo Bank focuses on the more advanced investor. Therefore, it is not possible to open an account with less than €10,000. The transaction costs are therefore geared towards investors with a larger purse and the execution of smaller investments is not very interesting with this party.For example, on Dutch stocks you pay 0.1% with a minimum of €12. For the more active investor this amount decreases to €9. Active traders are clearly rewarded at Saxo Bank.Transaction fees on futures start at $1.50 per transaction. Options also pay $1.50 per contract. On US EFTs the commission is $6. Currency options start at 5 pips and on Forex the spread starts at 0.1 pips which is neat.Paying dividends is free. Exercising options does cost money. If you don’t trade for six months, you pay a $100 inactivity fee. Transferring your portfolio costs €50 per line with a maximum of €160. For foreign investments, you pay a 0.5% commission on the currency transaction which is on the expensive side.Saxo Bank is clearly not the cheapest party for buying and selling physical shares, for example. If this is your main focus, there are better brokers to be found. If you also do a lot of trading in derivatives and if you do this with larger amounts then the fees at Saxo Bank are very reasonable.Education at Saxo BankSaxo Bank offers a lot of support within the SaxoAcademy. You will need to have a good command of the English language for this, as the material is all in English. Within the education environment you can find many Forex analyses. In addition, you can find many courses explaining the various products. Saxo Bank also offers a trading floor platform where it is possible to exchange investment visions with other (professional) investors.Saxo Bank also offers a limited agenda with the most important events of the next two days. There are plenty of news items available, but these are also in English. Attractive is the option to try out the features for free through a demo. The demo is valid for 20 days and you can try out investing within the demo with an amount of $100,000.Conclusion Saxo BankInvesting with Saxo Bank is interesting for the professional investor. The software is very extensive and especially the fundamental analysis is impressive. The broker offers more data than other parties. This, in combination with the good support and reasonable rates, makes the broker a good choice for investors with a somewhat larger purse. Are you planning to invest smaller amounts? Then take a look at the list of brokers and select a broker with a lower entry limit.Saxo Bank InvestingSaxo Bank was one of the first financial companies in the world to come up with an online information and investment platform. Hence, right from the start Saxo Bank focused on technology, the service it offers is of a high level. As a result, today they have a global customer base. After Saxo Bank received its European banking status, Saxo Bank has positioned itself as a defining player in the market.Protecting customer information and securely controlling, executing and managing real-time internal systems are of utmost importance to Saxo Bank. A comprehensive team of experienced IT Professionals therefore work day and night to protect Saxo Bank’s information and systems.Saxo Bank has been providing access to global financial markets since 1992, with a strong portfolio of products and platforms for retail investors, institutional investors, banks and brokers. The advantage to Saxo Bank, as with other online brokers, is that it is very simple to invest online using its programs, at Saxo Bank this program is called the SaxoTrader.Tools for customers of SaxoSaxo Bank has also responded to the increasing use of mobile networks. You will never again have to worry about missing important points during the day, for example because your Internet is down at home. This way you can simply manage your shares via your cell phone and you don’t have to worry about anything.Users of Saxo Bank give the bank the following plus points: 160+ currency pairs, FX Options, Gold & Silver, Wide supported trading platforms, 20 days free trial with demo account and last but not least reliability, which is a very important point.However, users of the bank also have some things to say about it: high entry threshold due to high minimum deposit of €10,000, spreads & margins change regularly and are not changed uniformly, trading platforms are complex and less suitable for new traders.Despite the high entry threshold, Saxo Bank is still one of the cheaper brokers for large trades. Furthermore, we can say that Saxo Bank is less suitable for novice traders. The minimum size of the simplest trading account is €10,000 and this is of course very high for a starting trader.

© 2021 Worldex.io . All rights reserved.