In this Saxo Bank Review, we are going to take a look at the offer that this broker prepared for its traders. Saxo Bank is regulated by the CySEC in Cyprus, by the ASIC in Australia and by the FCA in the UK. Saxo Bank operates on the financial market since 1992. When it comes to trading platforms, the broker features SaxoTraderGO. The Saxo Bank minimum deposit is 2000 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this Saxo Bank Review
Website address: | https://www.home.saxo/ |
Licensed and authorised by regulatory bodies: | CySec ASIC FCA |
Supported languages: | English |
Customer support available via: | E-mail, phone, live-chat |
Contact details: | [email protected] +44 (0)207 151 2000 |
Available deposit methods: | Bank transfer, Debit and Credit Cards |
Available withdrawal methods: | Most likely the same as the deposit methods |
Minimum deposit: | 2000 USD |
Min. trade in lots: | 0.01 |
Spreads: | Typical spread on the currency pair EUR/USD - 2,0 pips * on standard account type |
Tradable assets: Might be a CFD. | Forex (182), stocks (19000), commodities (19) |
Demo: | |
Mobile app: | |
MetaTrader 4: | |
Other trading platforms: | SaxoTraderGO |
Social trading: |
Saxo Bank Fees (typical spreads)
We have scanned fees (typical spreads) that Saxo Bank charges when trading popular currency pairs, here is their breakdown in pips.
EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
---|---|---|---|---|---|
* | 2,0* | * | 3,0* | * | * |
*Typical spreads were recorded on 06.06.2019 at 09:33 for the standard account. Saxo Bank spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: XOpenHub, Globalix, TradeView and LidyaTrade
Frequently Asked Questions
🧐 Is Saxo Bank a Scam?
Saxo Bank is a broker licensed and regulated by the CySec, ASIC and FCA. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that Saxo Bank is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the Saxo Bank minimum deposit?
In order to start trading with Saxo Bank, you have to deposit at least 2000 USD.
📵 What deposit and withdrawal methods Saxo Bank supports?
⚖️ Would you recommend me choosing Saxo Bank?
We don’t have our own personal experience with Saxo Bank. However, because the broker is regulated by the CySec, ASIC and FCA, there is a high chance that it is not a scam. With that being said, it still does not mean that Saxo Bank is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.
Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs
You should consider whether you can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.