Saxo Bank Review

Saxo Bank is an investment bank from Denmark that was established in 1992. It is one of the longest-established banks as a foreign exchange broker. It serves a large number of countries, directly or indirectly through intermediaries.

It has a huge number of financial products available, and more than 40000 assets available.

Financial products

As we mentioned Saxo Bank offers a large number of products, from the simplest to the most complex such as options or CFDs.

Forex – One of the most volatile markets available, where Saxo Bank offers around 180 pairs available to trade

CFDs – Possible to use this type of product on a variety of assets, over 9000.

Stocks and ETFs – Clients have access to a wide variety of markets, from the largest such as the US to smaller European ones. Gives a total of over 20,000 stocks.

Bonds – Access to a wide variety of bonds, both government and corporate.

Funds – A relatively newly available product. They have over 200 funds, however, they are only available in a few countries.

Options – You have a large number of markets to use options in. You can use this product in many markets, such as foreign exchange, stock markets, indexes, commodities, etc.

Futures – Like options, Saxo Bank allows you to use this product in various markets.

Cryptos – You can also buy crypto, although you have a rather limited choice.

Security

One of the vital points that any investor should look into is security and regulation. Being regulated in Europe, among other areas, it guarantees protection to investors, up to 100k in the case of capital in the brokerage, and up to 20k in the case of assets such as shares.

It is considered a very safe and transparent investment bank, having to comply with a panoply of rules and regulations.

Fees and commissions

In terms of the various costs for using their services it is considered intermediate, certainly, it could be possible to find something slightly more affordable, but probably with fewer services and products available.

They offer different types of accounts, with requirements for minimum deposit amounts.

The most basic one requires a minimum deposit of 2000$. To access the VIP account you would have to deposit at least $1 million, which gives them access to lower fees and commissions, access to exclusive events, and a direct link to Saxo Bank analysts.

Those who don’t want to open an account with these minimum amounts, they can do so through other investment entities that partner with Saxo Bank. They usually have lower minimum deposits, however, the commissions and fees are slightly more expensive than dealing directly with Saxo Bank.

Platforms

Saxo Bank has created platforms for various devices. It is possible to use the platform on Android, iOS, and Windows PC. A considerably user-friendly platform for both mobile and fixed devices.

Advantages

  • Large product offering, from the most complex to the most basic.
  • Proprietary and very intuitive platform with options for more demanding investors.
  • A bank with decades of experience in the market, with a very high-security rating.

Disadvantages

For some, the minimum deposit requirement may be too high.

The number of options and products may be too much for beginner investors.

Conclusion

Saxo Bank is considered one of the largest investment banks in the world, a solid and safe option, even for those just starting out in the investment world.

It should be noted that despite this, there are other viable and more cost-effective options.

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