SAXO BANK

Summary

Established in 1992 as a brokerage firm, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt, Saxo Bank was one of the first financial institutions to develop an online trading platform. 

Saxo Bank launched one of the first online trading platforms, making professional-grade tools and multi-asset market access available to everyone in 1998. It provided ordinary investors with the same tools and market access as professional investors.

Saxo Bank adheres to strict regulatory requirements in 15 jurisdictions, including Denmark, the UK and Singapore.

> Wide range of investments.

> Fewer trading charges.

> Good research tools.

> Interactive mobile app.

> Good customer service.

> No advice.

> Inactivity fees.

> High bond, options and futures fees.

Key Features

Saxo Bank serves clients in over 120 countries, holds USD 16 billion assets under management and processes 125,000+ daily executed trades.

All platforms are available with a single Saxo account.

The two types of platforms Saxo Bank offers are:

  1. SaxoTraderGO

  2. SaxoTraderPRO

SaxoTraderGO key features as stated by Saxo Bank include:

  • enhanced trade tickets,

  • fundamental and technical analysis tools,

  • extensive charting package,

  • options chain,

  • performance analysis

  • and comprehensive account overview.

The asset classes under SaxoTraderGO include: Stocks, mutual funds, ETFs, bonds, forex, CFDs, futures, commodities, forex options, listed options, trading strategies and managed portfolios.

SaxoTraderGO is said to be free to set up and has no monthly platform subscription fees. Although some features, like the level 2 market data would require you to have a subscription.

SaxoTraderPRO is Saxo Bank's fully customisable, professional-grade platform.

SaxoTraderPRO key features include:

  • algorithmic orders,

  • one-click trading,

  • options chains

  • and charting packages.

Saxo Bank's revamped account section allows you to check and analyse account performance in detail.

 

The asset classes under SaxoTraderPRO include: Access stocks, mutual funds, ETFs, bonds, forex, CFDs, futures, commodities, forex options, listed options, trading strategies and managed portfolios.

SaxoTraderPRO is Saxo Bank's advanced trading platform - and is said to be suitable for high-volume, active traders.

Small, medium-volume traders, or long-term investors, may find Saxo Bank's web-based platform – SaxoTraderGO – more suitable.

NOTE:

  • Saxo Bank says that you can connect your Saxo account to a third-party platform to access customised tools that suit your specific trading needs and requirements. The features available include asset-specific analysis tools, advanced strategy backtesting and hyper-responsive charting.

  • Saxo Bank claims that their platform allows you to gain market access through a fast, flexible and fully-documented electronic infrastructure and receive tailored multi-asset liquidity via FIX API.

  • There is a low custody charge and monthly premiums compared to other options - this is the key attraction of this platform.

Final Verdict

If you were to invest in low cost ETFs as part of a passive strategy for the long term, you would benefit from fewer trading charges.

The key attraction of this platform is the low custody charge and monthly premiums compared to other options.

Although you would have to make a nominal trade every six months to avoid the inactivity fees, this platform provides a very cost-effective investment solution overall.

This platform is not available to US citizens or a handful of Canadian citizens depending on their area of residence.

Overall, Saxo Bank provides an excellent investment platform for those investors who are comfortable making their own investment decisions, can resist the natural temptation to make investment mistakes, and who do not need sophisticated facilities for wealth structuring.

Himalaya

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