SaxoBank is an award-winning investment bank established in 1992 in Denmark it functions as a Forex broker and is highly praised by traders worldwide.

The Broker is regulated by 12 different authorities in 12 different countries to list the biggest: FCA (Financial Conduct Authority), the Bank of France, Financial Conduct Authority and the list goes on, just check the official website.

Terms of Trade 

The advanced trading platforms in the disposal of SaxoBank provide a near-instant transaction speed. The delays are rare even during market crashes.

The heavy regulations result in 1:200 maximum leverage, the number is low when compared to other Brokers, but it fits perfectly for low-risk trading, which is why this Forex Broker highly recommended for beginners.

The SaxoBank offers no promos and bonuses with exception of the Friend and Refer program.

There're 3 account types available: Classic, Platinum, VIP.

Trading tools number exceeds 35000 and customer support works 24/5.

Minimal deposit starts from $2000 with the Classic account. The minimum deposit on VIP is $1000000 that gives way tighter spreads and support from SaxoBank's top traders.

Services

Aside from Forex the following types of trading available:

• ETFs
• Bonds
• CFDs and Certificates
• Equities
• Futures
• Cryptos
• Options

SaxoBank will give you access to trading in 30 markets with more than 100 currency pairs, 9000 shares, 29 stock-price indices, and 5000 bonds.

Trading platform

The trading platform Saxo Bank offers - Saxo Trader is one of the best platforms for Forex. The instruments Saxo Trader provides allow to perform market analysis and to trade with ease.

The platform for Forex trading is available for PC and smartphones (Android and iOS). In addition to the desktop option, you can use the web version.

The toolset includes but fairly not limited to:

• Newsfeed
• Customizable watchlist
• In-depth analysis
• Alerts
• Charts
• Orders
• positions
• portfolio

And more than 60 different indicators and 16 marking instruments.

Price formation

For Forex traders standard fee is 0.005% but can vary depending on the amount of money the client trades with and the first US$50,000,000 of common trading on the platform monthly.

The spreads are dependable on unexpected economic data releases but on average it's 0.2 pips.

Transactions

SaxoBank offers at least 3 ways of depositing and withdrawing money.

1. Bank deposit: the transfer can take from 1 day to a business week.
2. Debit/Credit cards: allows instant transactions.
3. Stock transaction: probably the longest type of transfer as the Portfolio Holder need to approve the request.

All the transfers are free of fees, but it should be mentioned that deposit currency and currency in SaxoBank account should be the same, otherwise there's a 0.5% commission.

There's no minimal withdrawal so any sum could be cashed out without fees.

Education

SaxoBank Broker provides deep analysis and guidance from their experts. The stock in-depth data is also available for clients.

In addition to that, there's plenty of educational materials like books, seminars, video tutorials. The demo account is available as well.

Final thoughts on SaxoBank broker

It turns out that SaxoBank can be appreciated more by matured Forex traders who can make sense of the huge variety of instruments and asset classes provided by Saxo Trader.

In addition to that, the high minimum deposit of $2,000 will make many aspiring traders reconsider choosing SaxoBank. Though this politics proved right over almost 30 years, and if you can afford the Classical account it's an Ideal broker.