Saxo Markets Review

Established in 1992, this Danish investment bank offers customers a highly effective trading platform and access to some of the most thought provoking research around. It is a global bank with subsidiaries around the world so it is regulated by several authorities, including its home Financial Services Agency and the Financial Conduct Authority in the UK amongst many other well revered regulatory bodies. 

The slick trading interface and investment research can come at a price however, with fees usually quite high for some asset classes, including bonds and options. Additionally, customers need to open accounts with a substantial amount. The minimum amount required varies from country to country, but some customers may have to deposit up to $10,000 depending on where they live. ‍

“Stand out research department that provides customers with thought provoking investment ideas ”

Saxo Markets’ trading platform is nothing short of outstanding. It is great for novice traders trying to learn their craft, but very experienced customers will find even the advanced features on the platform easy to use as well as invaluable. Plus, customers can trade on the go with the mobile app which is just as user friendly as the full desktop version. It is customizable so clients can set it up in a manner that suits them and their processes the best.

Importantly, the platform requires two factor authentication to log in making it exceptionally safe to use too. Additionally, clients can access reports on their trading costs and fees so that they can see how much their portfolio is costing them to maintain. Finally, the platform is suitable for so many people around the world as it is available in huge variety of languages - from Arabic to Turkish.

As to be expected from a company with a market leading trading platform, setting up an account is not only fully digital, it is also incredibly easy to do too. However, deposit fees can be high. In the UK, customers need to open a basic account with £500 initially, but elsewhere - such as for some Middle Eastern or even European countries, clients need to put down $10,000. There are different types of accounts available too, all which require different deposit amounts. Account verification is slow too so that clients may have to wait for over 3 days to be able to begin trading.

While customer service is not available 24 hours a day, 7 days a week, it is available in a huge selection of languages which is great news for those that don’t speak English. Sadly, there is not a live chat support feature, which is surprising given how advanced this platform is in every other area. There is a chatbot however which can help customers with some frequently asked questions. Clients can also access help via email or telephone support.

Saxo Markets is a leader in its field in terms of its platform and how efficient it is to use - not to mention how easy. However, its high depoti fees may preclude some from being able to open an account at all - which is a shame because the research that is available through Saxo Markets is invaluable to those looking to run their own portfolio.