Saxo Trader Pro: Opinions And Analysis
Saxo Bank is one of the most important brokers in the world and probably together with Degiro, the most popular and well-known European broker; a broker that competes internationally with the world’s great brokes.
Saxo Bank is a Danish broker established in 1992 that bet heavily on the online market and later became an investment bank, being one of the main prime brokers in Europe and providing investment and trading services to private and institutional clients, including banks or hedge funds.
To get an idea of its size, the Saxo Group has offices in Denmark, London, Paris, Zurich, Dubai, Singapore, Shanghai, Tokyo, Hong Kong, Italy, the Czech Republic.
In particular, Saxo Bank is one of the great prime brokers of the world Forex market with collaborations side by side with the Bank of England, among other major players on the world scene.
In 2001 Saxo Bank became a legal bank in Denmark, making it fully regulated by European banking regulations. It goes without saying that such regulation is one of the strictest in the world.
Of course, it is a broker fully regulated by the Danish FSA, in addition to the different jurisdictions where its offices are located.
In the event of a Danish bank going bankrupt, clients are guaranteed up to € 100,000 in cash deposits, something that covers investment and trading accounts with Saxo Bank.
Of course, few brokers have an institutional profile and as secure as that of Saxo Bank.
If you have had accounts with many of the Spanish brokers, for example, you will have noticed that many of them are a kind of white label of Saxo Bank, offering its products on its platform, which is only changed to reflect the brand of the broker in question.
The mythical SaxoTrader platform was the standard for many years in many of the Spanish brokers such as: Dif Broker, Self Bank, BNP Paribas Investors, Orey iTrade, Activo Trade, Andbanck, GPM Trader or KAU Markets.
All these brokers are partners of Saxo Bank, and in Spain you can only open an account with them. In case you want to open an account with Saxo it will be necessary to open an institutional account, of more than 100,000 euros.
In other countries you can open an account with $ 2,000 for retail accounts.
Learn about the markets with Saxo Bank
As an introduction, we have several courses in video format in which we can see a summary of how markets work, such as:
Introduction to Forex
Forex, margin and leverage
Forex options – exotic options
Futures – Supports, resistances and trends
Options – Long versus short, exercise
Futures – Discovering technical analysis
Futures – An Introduction
Options – An introduction
Bonds – The price of a bond
Bonds – How a bond is structured
Options – Trading calls and puts
Bonuses – An Introduction
Stocks – Why do investors buy stocks?
Stocks – How do investors choose stocks?
Actions – An introduction
CFDs – An Introduction
Saxo Bank platforms
Saxo Bank’s two platforms are SaxoTraderGo and SaxoTradePro.
The first is the platform most used by retail traders and is based on web technology.
Despite this, it does not stop having almost all the functionalities of the Pro, since it has access to more than 30,000 instruments and almost all risk management tools.
In fact, you can have a global account in Saxo and access it online with the GO account or by PC with the Pro account.
On this platform we can access many Automatic Trading Systems provided by Autochartist. These signals are available both in Forex, stocks or CFDs. We can learn more about them by attending webinars provided by Saxo Bank. These trading signals are based on chart patterns, Fibonacci, and market turning points. In addition, you can access the statistics of these systems.
This platform is available in any browser in the world, as well as on Android and iOS systems.
This is the heir to the legendary SaxoTrader 2 platform and it can be used on Windows or Mac systems.
This platform is more suitable for professional trading, with tools that are not found in the web version, such as advanced market depth.
We may also make algorithmic orders with the systems provided by Saxo Bank.
Other functions of this platform are:
Account Shield – Protects the account in difficult situations
Types of orders: possibility of placing personalized protection orders
Quickly closed positions
Ability to cancel all orders quickly
Ability to view the entire account globally and effectively
However, SaxoTraderPro is more suitable for professional use and for high-volume traders, leaving the use of the Go platform for the rest.
The number of assets to be traded with this platform is greater than that of the Go, with more than 35,000.
Is Saxo Bank a scam?
Saxo Bank is not a scam because we are talking about one of the most important investment banks in the sector in Europe and the world, with a very strong presence in the prime currency markets and in other market niches. We are talking about one of the leading companies in the online brokerage sector.
In other words, Saxo Bank is one of the leading online brokers in the world, which if we add it to the fact that it is a bank licensed in Europe, makes it one of the safest and most reliable brokers on the market.
Saxo Bank opinion
With Saxo Bank we are talking about one of the great brokers in the world and therefore we will find references to it in innumerable channels. In fact, there are few brokers with more opinions on sites as different as this, as it is a broker with a huge presence both in Forex, stocks or futures markets, and in the most diverse countries.
For example, on one of the reference sites in the network for Forex topics, Forexpeacearmy, he came to have many negative opinions for all kinds of complaints related to trading and poor execution, especially many years ago. However, this does not mean that the broker is bad, but that in the world of trading and investment, but especially in the former, there are a lot of problems since it is a much more complicated and complex world than what street people think.
When you gain a lot of experience in the markets you realize that many of the “mistakes” of the past were not really that, but a consequence of the market conditions, which are very variable and sometimes capricious.
As I said, we can find Saxo Bank comments on sites as disparate as Trade2win, Rankia, Elitetrader or Forex Factory.
One of the most named points is the fact that many of the commissions are expensive. The latter has some truth, as it is true that it is not one of the cheapest brokers on the market, and even less if we compare it with specialist brokers in different sectors.
For example, a specialist futures broker like AMP Futures will have lower commissions than Saxo Bank, just as LMAX will have lower commissions on Forex, or DeGiro will have them on stocks. However, it is also true that once we operate a given volume we will be able to get much better commissions at Saxo Bank, which tells us that this is a broker focused on the institutional or large capital client.
In addition, we have to take into account that few brokers in the world have a multiproduct offer of such a caliber, being able to trade literally any market in the world. In this sense I would say that there is no broker for retailers with more products than Saxo Bank, being able to trade from futures to Forex options, through corporate bonds or commodity CFDs.
What’s more, in terms of commissions, despite being a little higher than many competitors, they are not so high that they cannot trade efficiently. Yes, it is true that to scalp many operations it would be better to go to some other brokers, but it is also true that this type of trading is the most dangerous in the world, as it is the fastest way to lose money. For a swing or trend type of trading, Saxo Bank has great commissions.
Therefore, if you are looking for a caliber broker, with impressive security, in which you can have a significant portfolio of shares, and at the same time trade futures or exotic Forex options, Saxo Bank is one of the best choices , definitely.
To finish, add the positive detail of the quality of its platform, which is one of the main in the world in the retail trading sector, since a large number of the world’s investors use, without knowing it, Saxo Bank’s technology at the time to buy and sell stocks.
YOU CAN SEE MORE: https://www.home.saxo/en-ch/platforms/saxotraderpro