SaxoBank is an international financial group focused on providing online trading and investment services. Founded in 1992 in Denmark, the company was conceived by Lars Christensen, Kim Fournet and Mark Hauschild with the aim of providing investors and traders with access to global financial markets through an advanced technology platform. Their platform offers a wide range of tools, including research, analytics, news, educational materials and more, helping users make informed decisions and trade successfully.

Over the years, SaxoTrader has become a leading player in the industry due to the variety of features provided. Their platform offers trading opportunities in financial markets, investments in stocks, bonds, funds, currencies (both fiat and digital), as well as other assets. The company has offices and representative offices in various countries, including Denmark, Great Britain, Singapore, China and Australia. This allows SaxoBank to serve customers from different parts of the world, taking into account the specifics and requirements of each region.

Trading conditions

SaxoBank positions itself as a premium broker offering the appropriate level of service and cost of services. The minimum deposit in SaxoBank is 10,000 USD. There are only 20 days available to use the demo account (free trial version), after which you need to open a real money account.

The overall picture of trading conditions is as follows:

1. A variety of assets, such as securities, fiat currencies, cryptocurrencies, commodities, etc., allows you to diversify your portfolio.

2. Individual accounts with multiple service options are offered, as well as joint, corporate and professional trader accounts.

3. The commissions are transparent, but quite high. They may vary depending on the type of account and the selected instrument, and margin requirements are also set.

4. SaxoBank provides leverage, which allows traders to increase their purchasing power, but also increases the risk of capital loss.

5. Customers have two trading platforms to choose from: SaxoTraderGO and SaxoTraderPRO. They provide access to real-time quotes, charts, analysis tools, and transaction execution.

SaxoTraderGO

The SaxoTraderGO platform is designed for retail traders and provides easy and convenient access to a wide range of financial instruments and markets. Its main characteristics are an intuitive interface, flexible settings and functions that provide the ability to conduct market analysis, place and manage orders, as well as track investments.

Thanks to the simple and intuitive interface, users can easily navigate the platform and carry out transactions with various financial instruments without the need for complex configuration or additional training. Flexible settings allow you to adapt the platform to the individual needs and preferences of the trader, ensuring comfortable and efficient use.

The platform's functionality includes tools for conducting technical and fundamental market analysis, as well as opportunities for placing and managing various types of orders. Users can track their investments in real time, getting up-to-date information about the status of their portfolio and markets.

Thus, SaxoTraderGO provides comprehensive tools and opportunities for successful trading in financial markets, while providing simplicity and ease of use for retail traders.

Functional

• Real-time view of quotes and charts: 

Users can monitor current quotes and analyze price charts for various financial instruments such as stocks, currencies, commodities and others.

• Placing orders: 

Users can place market, limit and stop limit orders to buy or sell assets according to their investment strategies.

• Analytical tools and technical analysis: 

The platform provides a wide range of analytical tools and technical analysis capabilities, which allows users to study the market situation and make informed decisions.

• Position and portfolio management: 

Users can effectively manage their positions and portfolio, including tracking profits and losses, as well as performing the necessary operations to optimize their investments.

• Access to research and news: 

The platform provides access to various research and news materials, allowing users to receive up-to-date information about markets and events that may affect their investments.

Thus, SaxoTraderGO provides a comprehensive set of tools and functionality for successful trading and investment management, providing convenience and efficiency of use for traders of all levels.

SaxoTraderPRO

The SaxoTraderPRO platform is an advanced tool designed specifically for professional traders. It provides a wide range of tools and opportunities for trading in various markets, including access to more complex orders, analytical tools and APIs for algorithmic trading (algotrading).

The main features and capabilities of the SaxoTraderPRO platform include:

• Extended Orders: 

Users can use various types of orders, such as stop loss, take profit, conditional orders and others, to manage their positions and risks more flexibly.

• Analytical tools: 

The platform provides advanced analytical tools including technical analysis, fundamental analysis, graphical tools and indicators to help traders make more informed decisions.

• API for algotrading: 

SaxoTraderPRO provides the ability to use the API to develop and automate trading strategies. This allows professional traders to create their own trading robots and algorithms to perform operations in the market.

• Versatility: 

The platform has extensive portfolio management capabilities, a variety of customization options and integrated access to financial markets.

Thus, SaxoTraderPRO is a powerful tool for professional traders that provides all the necessary tools and functionality for successful work in the financial markets.

Functional

The SaxoTraderPRO platform provides all the features available in SaxoTraderGO, namely:

• View real-time quotes and charts.

• Placement of market, limit and stop limit orders for the purchase or sale of assets.

• Analytical tools and technical analysis for studying the market situation and making decisions.

• Position and portfolio management, including profit and loss tracking.

• Access to research and news for up-to-date information.

There are additional features in SaxoTraderPRO:

• The ability to use the API to develop and execute their own algorithmic strategies, which allows traders to create and automate trading solutions.

• A larger volume of historical data for deeper analytics, which helps traders make more informed decisions.

• An expanded selection of indicators, which allows traders to use more diverse methods of market analysis.

• Additional risk management and position protection functions, such as setting stop loss and take profit warnings, as well as automatically closing positions when certain levels are reached.

• The ability to customize and personalize the interface according to the individual preferences and trading style of each trader.

Trading Instruments

Share. Represent the shares owned by the company. By purchasing shares, investors become its owners and have the right to receive dividends and participate in the management of the company.

Bonds. These are debt securities that represent borrowed funds issued by a company or government. Bondholders are entitled to receive fixed interest payments at the nominal value of the bond.

Currencies in the Forex market. Currency trading (foreign exchange market) involves the exchange of one currency for another in order to profit from changes in exchange rates.

Commodities. Include various commodities such as oil, gold, silver, wheat and other commodities. These goods can be traded on specialized exchanges or through derivative contracts.

Indexes. These are financial instruments representing weighted average values of a group of shares or other financial assets. Indexes are used to track and analyze changes in market activity.

Futures. Contracts for the purchase or sale of a certain asset (for example, raw materials, currency, shares) at a certain price on a certain date in the future. Futures are used to protect against the risks of price changes or to speculate on price changes.

Options. These are contracts that grant the right, but not the obligation, to buy or sell an asset at a certain price at a certain point in time. Options can be used to protect against risks or to increase the potential profit from price changes.

Types of orders

SaxoBank provides traders with a wide range of order types, as well as adaptive algorithms that automatically place and manage them. Algorithmic trading at SaxoBank allows you to improve order execution and effectively manage risks.

• Market Order: 

This type of order allows traders to buy or sell assets at current market prices. Market orders are executed quickly, which allows you to enter a position instantly. However, they may be subject to price changes between the time of placement and execution. At SaxoBank, the delay is minimal due to advanced technologies and direct connections with liquidity providers.

• Limit Order: 

This type of order is placed to buy or sell an asset at a certain price or better. The trader specifies the price at which he wants to make a trade, and the order will not be executed below this limit. The order remains open until the specified price is reached, after which it is automatically executed.

• Stop Limit order: 

When placing this order, the trader indicates the stop level and the limit price. When the market price reaches or exceeds the stop level, the order is activated and turns into a limit order, which is executed at the specified price or better.

• Conditional Order: 

SaxoBank offers conditional orders such as OCO (One Cancels the Other) and IF-DONE (if done). OCO allows you to link two orders and automatically cancel one when the other is executed. IF-DONE allows you to place additional orders after a certain condition is met. These types of orders provide traders with more flexibility and control over their trading strategies.

Types of accounts

SaxoBank offers several types of accounts, including:

• Private (individual) account:

Intended for individuals who trade under their own name and with their own funds. Customers can choose from several levels of service, such as Classic, Platinum and VIP, depending on their needs and the amount of the initial payment.

• Joint account: 

Intended for two adult direct relatives (spouses, siblings, parents and children). The account functionality allows you to configure the required level of access and authority for both participants.

• Corporate Account: 

Designed for legal entities and provides an opportunity to trade and manage investments on behalf of a company, organization or enterprise in accordance with their business strategy. Provides access to additional tools for managing corporate funds.

• Professional Account: 

Designed for experienced traders and investors who meet the criteria set by the broker. Provides enhanced access to various financial instruments and advanced trading functions in SaxoBank.

Each type of account has its own unique advantages and conditions, allowing customers to choose the most appropriate option according to their individual needs and requirements.

Demo account at SaxoBank

The demo account is a virtual trading platform that allows traders to practice and learn the functionality of the platform without the risk of losing real money. Upon activation of the free trial version, users get full access to the functionality of SaxoTraderGO and SaxoTraderPRO for 20 days. 100,000 virtual dollars are automatically credited to the demo account balance.

Traders can use the demo account to test various trading strategies, test new tools and analytical indicators, conduct market analysis and execute virtual transactions. You can open a demo account in just a few minutes by filling out a short registration form on the broker's official website.

Training for beginners

Saxo is a broker that pays special attention to training beginners in trading. The following opportunities are provided to develop skills and an in-depth understanding of investments:

• Educational materials: 

The Support section contains an extensive library including instructions, video tutorials in English, articles and manuals. These materials cover various aspects of trading, market analysis and other important topics.

• Support service consultations: 

A team of consultants is available to answer questions, provide recommendations and help solve problems. You can contact them by e-mail, phone or via online chat.

• Webinars and seminars: 

Online and offline events allow beginners to understand the basics of trading and investing more deeply.

Comprehensive answers to the most frequently asked questions are also available in the "Support" section, the "Help" subsection.

Safety 

SaxoBank is a financial institution that is regulated and licensed in accordance with high standards of security and protection of clients' interests. It holds licenses from the Financial Supervisory Authority (FSA) in Denmark, the Financial Conduct Authority (FCA) in the UK, the Monetary Authority of Singapore (MAS) in Singapore, and has also received permits from some other regulators. SaxoBank does not have a license in Ukraine, but its international licenses are valid. Customers from Ukraine have unlimited access to the demo account, however, some types of money accounts are temporarily unavailable, as well as some types of payment and withdrawal of funds, except for bank transfer.

To ensure the confidentiality of information, SaxoBank uses modern encryption technologies and security protocols. It also adheres to strict rules in the field of processing and storing customer data.

In some jurisdictions, SaxoBank offers deposit insurance, which provides additional protection for customer funds in the event of bank insolvency or other crisis situations. In addition, the bank has significant equity capital, which is used to cover potential losses and fulfill obligations to customers.

Mobile application

The broker's application, named the same as the platform — SaxoTraderGO, is available for free download both in the App Store and on Google Play. The size of the application is 16.6 MB, and its latest version is 3.3. To install on iOS devices, version 12.4 or higher is required, and for Android version 8.0 or higher.

The SaxoTraderGO mobile app has extensive functionality:

• Trading opportunities: 

Allows you to trade a variety of assets, including stocks, bonds, funds, futures, options, currencies and other instruments.

• Access to market information: 

Provides up-to-date quotes, charts and news for making informed investment decisions.

• Portfolio Management: 

Allows you to track and manage your investment portfolio, check the balance, open positions and transaction history.

• Research, Analytics and Training: 

Provides access to research materials, training resources and analytical reports for market assessment.

• Tracking Financial Instruments: 

Allows you to create and track a list of preferred assets to monitor their liquidity and price changes.

• Alerts and Notifications: 

Provides customizable notifications about exchange events and changes in portfolio activity.

Users speak positively about the convenience and speed of the mobile application. The intuitive interface with optimized elements allows you to quickly master the application. It provides instant access to important information and a quick response to user commands. However, it should be borne in mind that some advanced features can only be accessed through the web platform.

Support Service 

The SaxoBank support service operates around the clock and provides consultations in several languages, including Russian. Several communication channels are available on the site:

• Public contacts:

By e-mail ([email protected] ) or by phone (+45 3977 4113) you can get answers to questions about products, conditions and account opening.

• Online chat on the website: 

For registered users who have already paid one of the tariffs, an online chat is available for prompt communication with representatives of the support service.

• Personal Manager Contacts: 

VIP clients have the opportunity to contact their personal manager to resolve issues.

• Complaint Form: 

The site also provides a complaint form if there are problems or dissatisfaction with the services.

In addition, contact with the support service is also possible through the mobile application, which ensures the convenience of communication at any time and anywhere.

Reviews

Reviews of the SaxoBank broker are mostly positive. Customers who can afford to open a deposit highly appreciate the wide range of trading instruments, the availability of technological innovations, competitive commissions, high level of service, as well as the reliability and security of the platform. However, there are indications that SaxoBank may not be the best choice for beginners, partly due to the requirement for a high down payment and a short trial period of only 20 days. The main page of the SaxoBank website contains reviews from real customers with different levels of trading experience on the stock exchange. It is recommended to familiarize yourself with them before making a decision on registration.