If you have some experience in forex trading, or you have passed the beginner level and want to advance yourself, it’s time to find a new forex broker that meets your current needs. When you reach this level, cost and fees are not a problem with you anymore. What you need is excellent trading conditions and trading platform but also security as well. Saxo Bank is a broker that can offer you those. Our article today is the full Saxo Bank review and explains why it is perfect for experienced traders.
Who is Saxo Bank?
Saxo Bank was founded in 1992 in Denmark. They instantly offered online trading as well as investing services very early. So at first glance, you know that this is a European broker, so it will focus on this market. European brokers really do well in terms of regulations, and Saxo Bank is not an exception. This broker has acquired up to 7 top reliable forex regulations, including DFSA (Denmark), FCA (United Kingdom), FINMA (Switzerland), ASIC (Australia), JFSA (Japan), SFC (Hong Kong), and MAS (Singapore).
In conclusion, you are definitely safe when trading with Saxo Bank.
Saxo Bank trading platforms
It is said that trading platform is the strongest aspect of Saxo Bank. Instead of using the ordinary MetaTrader platforms like many other brokers, Saxo Bank developed and designed their own platforms for different devices including SaxoTraderGO(web-based and mobile app) and SaxoTraderPRO (desktop trading).
The SaxoTraderGO is the web trading platform. It has a very modern and simple appearance as well as easy to find and use features. Moreover, users can easily customize the look of the platform to suit their purpose. The most advanced feature of this platform may be the search feature. Not only does it recommend related assets to what you search, you can also filter to find exactly what you need. When you put in an order, the platform will show you every crucial detail like prices, margins, type, order size… so that you will never miss anything.
The mobile version of SaxoTraderGO is amazing. They compress every detail on the computer screen to your phone screen properly. You will feel just the same as you’re trading on the website platform.
The SaxoTraderPRO is the desktop program trading platform. It does look the same as the web platform but the PRO in the name can tell you that there is more to this platform. Indeed it is. With this platform, you can open up to six windows on your screen in case you are trading multiple pairs at the same time. Moreover you can customize the design of each window according to your needs.
Saxo Bank cost and fee
Check out our Saxo Bank accounts article for the cost and fees of each Saxo Bank account.
Deposit/Withdrawal at Saxo Bank review
Since Saxo Bank is a bank, it doesn’t allow you to deposit or withdraw to any other banks. All transactions must be performed through your Saxo Bank account. Moreover, it does not work with any e-wallets either. This could be seen as a drawback of Saxo.
Customer service of Saxo Bank review
Since the target customers of this broker is experienced ones, Saxo doesn’t offer much assistance to traders. They only have the phone line which operates 24/5. No live chat online.
In conclusion, we can clearly see that Saxo Bank is definitely a forex broker for experienced traders thanks to its very advanced self-designed platforms and professional accounts with top security. We hope this full Saxo Bank review has answered all the questions you have for this forex broker.