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SAXO CAPITAL MARKETS REVIEW
Table of Contents
- SAXO CAPITAL MARKETS REVIEW
- Saxo Capital Markets
Is SAXO CAPITAL MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review in January 2019 to find out the answer and bring it to you!
Another complete and unbiased Review from Engine Forex
Saxo Capital Markets (Australia) Pty Ltd. is located in the heart of Sydney, Australia, and is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Copenhagen, Denmark. Saxo Bank is a privately owned, leading European retail brokerage firm and investment bank that has been operating since 1992. The Saxo Group is also a leading investment and technology company that has enjoyed over two decades of growth and success.
As a broker, Saxo Capital Markets offers a large number of trading products that span more than 30,000 offerings including forex, CFDs, equities, ETFs, futures, contract options, bonds and cryptocurrencies.
Saxo Capital Markets
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Saxo Capital Markets - Overview
SpreadFrom 0.1 Pips
Cuts out Dealing DeskYes
Methods of deposit and offers
Deposit / Withdraw
Rebates Engine ForexComing soon!
HeadquarterCopenhagen with Sydney subsidiary
SECURITY, MARGINS AND TECHNOLOGY
SECURITY AT SAXO CAPITAL MARKETS
- ASIC regulated
- Licensed by the FCA & 8 other authorities
- High-level web security
- No dealing-desk intervention
Saxo Bank is a fully licensed Danish bank that is regulated worldwide by more than 10 official regulating authorities; for example, the Danish Financial Supervisory Authority (FSA).
Saxo Capital Markets is further authorised and regulated by the Australian Securities and Investments Commission (ASIC), which is a significant draw, especially for Australian traders.
All Saxo Bank’s client funds are held in segregated trust accounts.
SAXO CAPITAL MARKETS
CHARGES AND MARGINS AT SAXO CAPITAL MARKETS
- Tiered commissions scheme based on volume
- Forex spreads can start from 0.1 pips
- Up to 100:1 leverage
Saxo Bank offers a competitive and diverse commission structure by providing levelled discounts that vary according to a client’s monthly trading volume. The example provided below gives an indication of what this structure would look like for trades on the Forex Market.
At the first level, commissions are pretty steep at US$50 per million, which equals US$10 per traded lot R/T. At the highest level (6), the commission can be reduced to USD 1.70 per traded lot or 3.40 per lot R/T.
Similar to this structure, clients trading 100 trades or more per calendar month on stocks, ETFs and single-stock CFDs qualify for Saxo Capital Markets’ Active Pricing Plan for CFD trades, an incentive scheme that offers highly competitive pricing. For all commission and pricing details, visit Saxo Bank’s website.
When it comes to opening an account, Saxo Bank initially keeps it simple by giving new customers a two-way choice between a Demo and Live account version. The Live Account is split into four types: Essential, Classic, Platinum, and VIP, all of which can be utilised with Saxo Bank’s own proprietary SaxoTrader desktop and SaxoTraderGo mobile platforms. Both platforms are highly customisable and all preferred settings migrate seamlessly between these two platform options.
The minimum deposit requirements for the Live Account vary between AU$1,000 for the Essential Account and AUD 100,000 for the Platinum Account versions. Upgrading from a Platinum to VIP Account is by invitation only.
Maximum leverage is kept low, especially in comparison to most leading online brokers, with 100:1 across all account types and financial instruments.
Spreads can start from 0.1 Pips; however, the spreads are highly dependent on the volumes a client trades. At the lower tiers—for example, the popular EUR/USD Forex pair—spreads start from 1.3 Pips.
- Solid trade execution
- Own proprietary trading platform
- Innovative technologies
Over the decades, Saxo Capital Markets has won numerous industry awards for its state-of-the-art technology and innovative technology. It provides a solid and mostly stable trading environment with high-speed connectivity and fast execution speeds.
Even though Saxo clients cannot utilise any of the popular trading platforms, such as MetaTrader 4 or 5 or cTrader, Saxo Capital Markets’ own proprietary desktop and mobile platforms offer any type of trader a flexible, highly customisable and professional environment.
SaxoTrader is an easy-to-use, fully customisable, comprehensive professional desktop platform that allows clients to trade across multiple screens, and migrates seamlessly with SaxoTraderGO for traders seeking mobile access from any browser on a PC, Mac, tablet or smartphone. Android and iPhone apps are also available.
Both platforms allow access to market information, the ability to stream news using custom filters, and direct access to Saxo dealers via live chat.
The platforms further offer a full suite of trading tools and facilities, as well as advanced charting options.
Execution of Speed Comparison
SAXO CAPITAL MARKETS
CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES
AN OVERVIEW OF SAXO CAPITAL MARKETS' CUSTOMER SERVICE AND CLIENTS
- 24/5 customer support
- 4 account type options based on trading volumes
- In-house analysts
Saxo Capital Markets customers can contact the local support teams and all other departments from Monday through to Friday between 8:30 am and 5:30 pm via phone only. Additionally, email support is offered, for which the usual response delays can be expected.
All customers can choose between three different account types that vary according to minimum deposit amount requirements and the number of tradable instruments offered.
Saxo Capital Markets’ Platinum and VIP Account options offer a professional-grade platform that features priority service as well as dedicated and individualised support. High-volume traders further enjoy exclusive volume-based spreads and commissions.
The available trading products include up to 182 currency pairs, 63 indices and commodities CFDs, 2 cryptocurrency ETNs, and a massive amount of international stocks, bonds, ETFs, etc.
With this in mind, dedicated traders who do not mind the relatively high minimum deposit requirements can utilise a very large selection of tradable instruments throughout many asset classes as well as Saxo Bank’s wealth management and investment services.
A team of in-house analysts provide a good amount of research and information on current topics and events. Additionally, the Education and Research section of Saxo Bank offers webinars, event trackers and video guides to help its clients succeed.
FOREX AND OTHER TRADING OPTIONS AT SAXO CAPITAL MARKETS
- 180+ currency pairs
- 2 cryptocurrency ETNs
- Huge selection of shares, ETFs & commodities
- Multiple Futures & Options
Overall, Saxo Capital Markets offers a large selection of tradable instruments and asset classes. Depending on the selected account type, up to 182 currency pairs, 40 Forex options, 63 indices and commodities CFDs, 19,000 stocks and many other products are available.
Saxo Capital Markets’ clients can select from the three account options detailed above and leverage financial instruments up to 100:1.
Minimum deposit requirements start at AU$ 1,000 on its Essential Account and can go as high as AU$100,000 on the Platinum Account type.
SPECIAL FEATURES OF SAXO CAPITAL MARKETS
- Highly customisable proprietary trading platform
- Fast execution speeds
- Spreads starting from 0.1 pips
- Excellent analyst & research team
Offering a tiered commission structure with competitive pricing.
Gigantic selection of tradable instruments including forex, shares, options indices, ETFs, bonds and cryptocurrency ETNs.
Fully licensed Danish bank and regulated worldwide by more than 10 official regulating authorities.
Own, proprietary state-of-the-art trading platforms with simple layout and a significant array of professional tools and charting options.
Centralised research and news section featuring information from in-house analysists, webinars, videos and upcoming events.
Max Leverage Comparison
SAXO CAPITAL MARKETS
Saxo Capital Markets is globally recognised broker, offering a very professional, innovative and reliable trading environment. Their own proprietary trading platform is highly customisable and provides a multitude of features, such as charting options and news feeds.
Only that their minimum deposit requirements are higher than for most other brokers and that clients cannot connect to popular platforms such as MT4/5 or cTrader, can be considered as draw-backs.