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    Finxpd
    Home » Saxo Capital Markets Review: Advanced Platform And Superior Research
    Saxa Capital Markets Review
    Reviews

    Saxo Capital Markets Review: Advanced Platform And Superior Research

    November 24, 2022Updated:November 24, 20228 Mins Read8 Views
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    Saxo Bank, a 1992-founded Danish investment bank, offers internet trading and financial services. The Danish Financial Services Agency (FSA) and the UK’s Financial Conduct Authority are two of the many financial regulators that oversee the corporation on a worldwide scale (FCA).

    As a multinational service provider, Saxo Bank runs a variety of independent legal companies across the globe. Regarding pricing and product portfolios, the services provided by the different corporations could vary a little. We examined Saxo Markets UK for this study.

    List of Contents

    • Saxo Capital Markets: Website
    • Customer Service
    • Products
    • Pricing
    • Trade Experience
    • Security
    • Education
    • Pros & Cons
      • Pros Clarified
      • Cons Clarified
    • Is Saxo Capital Markets A Worth Broker to Get?

    Saxo Capital Markets: Website

    Saxo Markets

    Country of regulation: Denmark, UK, France, Italy, Switzerland, Singapore, Japan, Hong Kong, Australia

    Trading fees class: Average

    Inactivity fee charged: Yes

    Withdrawal fee amount: $0

    Minimum deposit: $2,000

    Time to open an account: 1 day

    Demo account provided: Yes

    Products offered: Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, SaxoSelect

    Founded in 1992, the Saxo Bank Group (Saxo Bank) in Denmark describes itself as a “leading Fintech specialist focused on multi-asset trading and investment and delivering Banking-as-a-Service to wholesale clients.” In 1998, the firm capitalized on the technical advances of the late 1990s by introducing one of the first online trading platforms. Since 2006, Saxo Bank has operated in the United Kingdom via its subsidiary Saxo Capital Markets U.K. Ltd (SCML). However, unlike many other forex brokers, Saxo Bank does not allow U.S. traders.


    Customer Service

    Customer Service

    If Saxo Capital Markets has a weakness, it’s in client service. No live chat is available. Online chat is provided exclusively to sponsored accounts, and local language support is restricted to higher-tier accounts. “Chat-bot” capability is provided, although Saxo may not need it. The broker uses Twitter and Facebook but not for customer support.

    Prospective customers evaluate a broker’s product through a sample account; live chat is missing. Prospective customers must call or email the sales department. The broker’s help website has many subjects. However, Saxo should improve the search tool. Saxo promises 24/5 customer service, yet the contact page provides office reception and sales lines but no local or toll-free help number. The fine print shows that departments are open from 9 a.m. to 5:30 p.m. local time no direct number to the trading desk.


    Products

    Products

    Saxo Capital Markets provides leveraged and investment solutions across many asset types. It may be simpler to list Saxo’s lacks. The U.K. and worldwide websites list the available instruments.

    • 182 FX spot pairs
    • 140 FX forwards
    • 44 FX vanilla options
    • 200+ futures contracts
    • 19,000+ stocks (36 worldwide exchanges)
    • 1,200+ listed options (24 exchanges)
    • 9,000+ CFDs
    • 19 commodity CFDs
    • 5,000+ bonds (government and corporate)
    • 3,000+ ETFs (30+ exchanges)
    • Managed portfolios
    • 250+ mutual funds (non-U.K. International accounts)
    • Cryptocurrency ETNs (non-U.K. International accounts)

    Many instruments may be exchanged via different venues and order routing mechanisms, giving great variety. However, some platforms have exorbitant expenses. The outstanding product portfolio will gratify global market fans.


    Pricing

    Pricing

    Saxo Capital Markets trading expenses are either incorporated in the spread, which is how the broker makes money or added as fees. “Classic” account bid/ask spread minimums are 0.6 pips. Ordinary spreads diminish for “platinum” and “VIP” accounts, giving active-trader savings, but the £200,000 minimum to upgrade tiers will dissuade the average retail customer. Other instruments have commissions added to the spread.

    Overnight holding charges are ordinary to competitive, and there’s a £25/quarter inactivity fee if a customer “just keeps the cash.” Other “generic charges” might be costly for the ordinary retail merchant. Free withdrawals, please account holders.

    The website and trading systems need more clarity about CFDs, contracts, and direct sales of similar products. Saxo isn’t attempting to deceive people; it’s simply that the broker’s charges are complicated to explain. Saxo Capital Markets is transparent.


    Trade Experience

    Trade Experience

    Saxo’s UI is custom. SaxoTraderPRO (download) and SaxoTraderGO (web-based) were designed with the end user (trader) in mind, giving considerable advancements over the industry standard MT4 and the newer trader. Integration with third-party tools expands a trader’s options.

    SaxoTraderPRO may be downloaded on Windows and Mac. This platform’s powerful workspace management allows up to six displays. Multi-channel module connecting and a robust charting package with “over 50 technical indicators” may help traders analyze. Order tickets increase efficiency by providing all relevant information. Activating algorithmic trading orders integrates them entirely. Subscription-based tools, such as “depth of market” and “time and sales” statistics, are accessible and may be value-added services.

    SaxoTraderGO lacks SaxoTraderPRO’s features yet is still remarkable. It’s more approachable than “big brother” Limited customization doesn’t hinder its functioning. This web-based version organizes charts, news, research, and watchlists: full-featured charts and technical indicators with configurable time management and window linking. A remarkable diversity of the market and pending orders helps Saxo attract expert traders.


    Security

    Security

    Saxo’s UI is custom. SaxoTraderPRO (download) and SaxoTraderGO (web-based) were designed with the end user (trader) in mind, giving considerable advancements over the industry standard MT4 and the newer cTrader. Integration with third-party tools expands a trader’s options.

    SaxoTraderPRO may be downloaded on Windows and Mac. This platform’s powerful workspace management allows up to six displays. Multi-channel module connecting and a robust charting package with “over 50 technical indicators” may help traders analyze. Order tickets increase efficiency by providing all relevant information. Activating algorithmic trading orders integrates them entirely. Subscription-based tools, such as “depth of market” and “time and sales” statistics, are accessible and may be value-added services.

    SaxoTraderGO lacks SaxoTraderPRO’s features yet is still remarkable. It’s more approachable than “big brother” Limited customization doesn’t hinder its functioning. This web-based version organizes charts, news, research, and watchlists. Full-featured charts and technical indicators with configurable time management and window linking. A remarkable diversity of the market and pending orders helps Saxo attract expert traders.


    Education

    Education

    Most instructional resources are devoted to platform and product tutorials, as well as basic coverage of technical analyses and fundamental concepts, with little emphasis placed on tools for developing skills. Then, it aligns with what seems to be Saxo’s underlying objective of luring sophisticated, well-funded traders. A further challenge for less experienced traders is the need for a glossary, at least in the sense that word is often used. An FAQ page does exist, however, and it is competent in terms of functionality.


    Pros & Cons

    Pros and Cons

    Pros

    • Extensive variety of products
    • FCA-reglementated (U.K.)
    • Industry’s leading research
    • Exceptional interface
    • Provides safety for customer accounts

    Cons

    • A failure to prioritize customer service.
    • Confounding fee schemes for instruments
    • Does not accept U.S. customers
    • No MT4

    Pros Clarified

    Pros Clarified
    • Saxo Capital Markets provides leveraged and investment solutions across asset types. Forex, shares, ETFs, commodities, indices, options, bonds, forwards, and futures are available. Saxo’s shortcomings are simpler to outline.
    • Saxo Capital Markets is regulated by the Financial Conduct Authority (FCA #551422), one of the key UK regulatory bodies known for guaranteeing fair market practices for consumers and companies. Said government regulation boosts a company’s legitimacy. Traders accept market risk but want to ensure that their money is not vulnerable to counter-party risk. Tier 1 banks hold separate customer money.
    • Saxo’s commitment to quality research is commendable. It’s the best online forex broker.
    • Saxo’s trading systems, SaxoTraderPRO (download) and SaxoTraderGO (web-based) are considerable enhancements over the industry standard MT4 and rival solutions. Integration with third-party tools expands a trader’s options.
    • Most online brokers provide “negative balance protection” like Saxo. The SNB incident of January 15, 2015, roiled markets, notably the leveraged retail FX market.

    Cons Clarified

    Cons Clarified
    • Saxo Capital Markets’ online brokerage lacks client service. Online traders need easy access to brokers. Its website lacks live chat; only paid accounts may use online chat. Saxo could do without the “chatbot” feature. A live chat is a noticeable absence for demo accounts, where prospective customers try out a broker’s products.
    • Fee schedules and hidden expenditures make estimating bottom-line costs challenging. Commission and spread declarations for comparable or identical instruments and venues are sometimes conflicting.
    • Saxo Capital Markets does not accept U.S. customers because of legal limits, preventing it from becoming a worldwide broker. However, it’s rare to find another with a broader global network. This would be a warning signal if the firm weren’t controlled by the FCA, which is usually regarded as the primary regulatory agency and U.S. authorities (NFA, CFTC).
    • Saxo Capital Markets does not provide MT4, a common forex broker platform.

    Is Saxo Capital Markets A Worth Broker to Get?

    Is Saxo Capital Markets A Worth Broker to Get?

    Saxo Capital Markets is a good alternative for advanced traders and professionals. Extensive research tools, an API interface, and subsidized fees (high-tier accounts) may boost account profitability; however, trader education is lacking, and customer support is poor. Saxo’s strategy suggests that its commercial goals are aimed at big and professional account holders. A multiplicity of charge schedules and hidden fees make it hard to predict prices. Different commission and spread fees are provided for comparable or equivalent instruments and locations.


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