Saxo Markets Review
Huge range of investment products
Pros
- Wide range of investment products
- Advanced trading platform
- Discount when trading large volumes
Cons
- High minimum deposit
- Inactivity fee
- Customer service not 24/7 available
Contents
9.
Introduction
Saxo Markets was founded in Denmark in 1992. This broker offers online trading in a very broad range of investment instruments. In addition to its huge product range, Saxo Markets offers user-friendly and advanced platforms with which you can trade efficiently. Saxo Bank is known for its high reliability and is one of the largest brokers in the world. They are active in 170 countries and process more than one million transactions per day.
Target audience
Almost all types of investors will quickly feel at home at this broker. The product range is huge. The trading platforms offer many possibilities and are user-friendly. With this broker you have cheap rates at your disposal if you trade in large volumes. Saxo is therefore suitable for both starting and experienced investors.
Customers are generally positive about the service and the advanced trading platform. On Trustpilot they get a score of 2.9/5 which is not very good. This is mostly because of the higher costs.
Stocks
Options
Futures
Funds
Bonds
ETFs
Saxo Bank is known for its good webtrader. It is very easy to use, and also offers enough advanced options for active investors. The platform is more equipped for active investors than for passive investors. For example, you pay £25 inactivity allowance for each quarter that you did not trade. You can choose from different platforms:
- SaxoTraderGO: this is the webtrader. It looks good and is easy to adjust to your own wishes. You have a good search function at your disposal and you can use the following order types: Market, Limit, Stop, Stop Limit, Trailing Stop and One-cancels-the-other (OCO). There are many price alerts available, of which you get a handy notification.
- Mobile app: the app is user-friendly and has almost the same functionalities as the webtrader.
- SaxoTraderPRO: This platform is for real day traders. The platform is fully customizable and offers the most advanced trading tools. View more information here.
With the SaxoAcademy they offer the necessary education. Here you find a clear explanation of almost all functions of the platform. Forex analyzes are also available.
Fees and commissions
Saxo Markets is one of the more expensive brokers. Especially the service fee is quite high. Below, common transactions with associated transaction costs from different brokers are compared. The amount of service fee or custody fee of different brokers is also compared. Check out the comparison page for a complete fee comparison of all brokers.
Shares £1.000
Shares £10.000
Service fee £10.000
£9
£19
£12 PM
£1.89
£3.15
£0
£2.95
£2.95
£0
£11.95
£11.95
£0
£7.99
£7.99
€9.99 PM
In short
Due to the advanced trading platform and extensive product range, Saxo Bank is extremely suitable for the active investor. Day traders will also feel at home here with the highly advanced SaxoTraderPRO platform. Thanks to the modern and user-friendly web trader, this broker is also suitable for beginning investors. You can always use the demo mode first to find out if this broker suits you.
- Many trading instruments
- Advanced platform
- Inactivity fee
- High minimum deposit
# Active investors
100,000
Money guaranteed
€100.000
Reliability
Securities lending
No
Mobile app
Minimum deposit
£600
Fees
Shares
0.10% min. £8
Options
$0.85
Leveraged products
Futures
£3
Funds or trusts
0.10% min. £8
ETFs
0.10% min. £8
Telephone order
£50
Service fee
0.12% min. £12 PM
Forex
CFDs
Cryptocurrencies
Customer service
Education
Usability
Trading platform
Bank transfer
Credit card
PayPal
- Low fees
- Investment product range
- Analysis functionalities
- Securities lending
# Active investors
400,000
Money guaranteed
£20,000
Reliability
Securities lending
Yes
Mobile app
Demo account
Minimum deposit
£1
Fees
Shares
£1.75 + 0.014%
Options
€0,75
Leveraged products
£1.75 + 0.014%
Futures
€0.75
Funds or trusts
€0-€7,50+0,10%
ETFs
€2 + 0.03%
Telephone order
£8.50
Service fee
€0
Forex
CFDs
Cryptocurrencies
Customer service
Education
Usability
Trading platform
Bank transfer
Credit card
PayPal
- Ideal for fund investments
- Fundamental research
- Limited technical research
- Monthly fee
# Active investors
300,000
Money guaranteed
£85,000
Reliability
Securities lending
No
Mobile app
Minimum deposit
£1
Fees
Shares
£7.99
Options
Leveraged products
Futures
Funds or trusts
£7.99
ETFs
£7.99
Telephone order
£49
Service fee
£9.99 PM
Forex
CFDs
Cryptocurrencies
Customer service
Education
Usability
Trading platform
Bank transfer
Credit card
PayPal
- Professional platform
- Good education
- Customer service
- High minimum deposit
# Active investors
178,000
Money guaranteed
£85,000
Reliability
Securities lending
No
Mobile app
Minimum deposit
£450
Fees
Shares
£3 – £8
Options
£0.10
Leveraged products
Futures
Funds or trusts
£8
ETFs
£8
Telephone order
£40
Service fee
£24 PQ – paid commissions
Forex
CFDs
Cryptocurrencies
Customer service
Education
Usability
Trading platform
Bank transfer
Credit card
PayPal
- Many trading instruments
- Advanced platform
- Inactivity fee
- High minimum deposit
# Active investors
100,000
Money guaranteed
€100.000
Reliability
Securities lending
No
Mobile app
Minimum deposit
£600
Fees
Shares
0.10% min. £8
Options
$0.85
Leveraged products
Futures
£3
Funds or trusts
0.10% min. £8
ETFs
0.10% min. £8
Telephone order
£50
Service fee
0.12% min. £12 PM
Forex
CFDs
Cryptocurrencies
Customer service
Education
Usability
Trading platform
Bank transfer
Credit card
PayPal
* Estimated annual costs with £10,000 one-time investment, £100 monthly investment and an average investment profile. Investing involves risks of losses.