Saxo Bank Review from qocsuing's blog

Saxo Bank Review

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 60,000 tradeable instruments.To get more news about saxo review, you can visit wikifx.com official website.

For active traders (or those who can afford to maintain the steep account balance requirements), Saxo Bank provides an immersive, rich trading experience with a towering selection of tools, research, and premium features.
Saxo Bank is a multi-asset broker that offers investors and traders a vast selection of more than 60,000 tradeable symbols. In addition to electronically-tradeable markets that span nearly every asset type, Saxo Bank offers spot FX, FX options, non-deliverable forwards (NDFs), Contracts for Difference (CFDs), stocks, stock options, Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs), futures, and 33,000 bonds (available only via phone).

Exchange-traded securities: In addition to trading CFD shares, Saxo Bank also offers ISA/SIPP accounts for share dealing. To learn more, see our U.K. StockBrokers.com review of Saxo Markets.

Cryptocurrency: Cryptocurrency trading is available through derivatives, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
Overall, Saxo Bank delivers excellent all-around pricing. For active traders, and those able to maintain large account balances, Saxo Bank offers the lowest pricing in the industry.

Pricing summary: In August 2020, the average EUR/USD spreads were 0.8, 0.7, and 0.6 pips, for the Classic, Platinum, and VIP accounts, respectively. Bottom line: pricing for the Platinum and VIP accounts ranks among the best forex brokers, while the Classic account is closer to the industry average.

Classic account minimums: The entry-level Classic account requires a €2,000 minimum deposit in most cases, though the minimum deposit may vary depending on your country of residence.

Platinum account minimums: The minimum deposit for the Platinum account is $200,000 – or AUD 300,000 if you reside in Australia. Traders with the Classic account can qualify to be upgraded to Platinum by earning volume-related Loyalty points through Saxo Bank’s Loyalty Program. For example, trading over $40 million worth of forex would earn you 120,000 points – which would be enough to upgrade from Classic to Platinum for 12 months.

VIP account minimums: For 2023, Saxo Bank won our award for Best VIP Client Experience. Saxo Bank’s VIP account, which offers the most savings on pricing, is reserved for elite investors who either deposit at least $1,000,000, or who qualify to be upgraded under Saxo Bank’s Loyalty Program. Traders looking to have their account tier upgraded to VIP would need to trade at least $167 million in forex volume – this upgrade would be valid for one year. The VIP account also provides access to exclusive events and connections to Saxo Bank analysts.

Commission-free: Saxo Bank is commission-free, which means it makes money off the spread. There is one exception; traders who trade less than 50,000 units (half of one standard lot) per month are charged a ticket-fee of $3 per side.

Best execution: Saxo Bank is committed to the FX Global Code, an evolving interbank standard focused on enhanced disclosures and execution best practices. The mission of the FX Global Code is to promote integrity and transparency across the global foreign exchange market.