Review by Nathan Andrews, Editor – MiddleEastForex.com 

“Saxo Trader is an elegant and professional product, comparable as the Microsoft Office of online trading in that there are more features than ones knows what to do with.”

Saxo Bank is a reputable Danish financial services company with a professional offering covering a full range of online trading services including Forex, Commodities and Equities. Saxo Bank is online only, so the name of “Bank” is slightly misleading in that they Saxo Bank has no branches.

Saxo Trader 2 is the interface used to conduct trading and is an elegant and professional product, comparable as the Microsoft Office of online trading in that there are more features than ones knows what to do with. This dept of offering may be interpreted by some as a handicap and present complexities in understanding important features and functions. However one must remember Saxo Trader offers a full range of capital market trading services and is not, unlike other platforms reviewed a Forex only trading environment.

Saxo Bank offer tight spreads and EURUSD is offered at 2 PIPS which remains more or less constant throughout the week. Leverage is 100:1. The market news service offered is the best we’ve seen with feeds from Dow Jones and Market News International. Overall Saxo Banks offering is excellent and backed up by a quality support service.

Company

Information from Saxo Bank website (http://saxobank.com/?id=926&Lan=EN&Au=1&Grp=5) :

1.      Founded in 1992 by joint CEOs Lars Christensen and Kim Fournais, Saxo Bank officially attained European bank status in June 2001.

2.      Saxo Bank has its headquarters in Copenhagen, with operating offices in London, Geneva, Zurich, Singapore and Marbella. It also runs a representative office in Beijing and an IT development centre in St Petersburg.

3.      Saxo Bank currently employs more than ~1,300 employees of 76 different nationalities and serves clients in over 180 countries.

4.      Capitalising on the opportunities presented by the internet revolution and in anticipation of the evolution of the sophisticated investor seen today, Saxo Bank has created a niche in the marketplace by offering cutting edge technology – combined with world-class research – to the professional high net worth investor, who seeks a one-stop solution for trading and managing investments in multiple asset classes.  

Platform

The platform installs via a download from the Saxo Bank website. Web and Mobile versions are also available.

Saxo Trader is an elegant and professional product, comparable as the Microsoft Office of online trading in that there are more features than ones knows what to do with. This dept of offering may be interpreted by some as a handicap and present complexities in understanding important features and functions. However one must remember Saxo Trader offers a full range of capital market trading services and is not unlike other platforms reviewed a Forex only trading environment.

Trade and Execution

Very fast trade executions with rare slippages.

Charting

Excellent charting function offered with every indicator you could wish for. Trade positions and stop/limit levels are also displayed live on the chart.

News and Market Research

The market news service offered is the best we’ve seen with feeds from Dow Jones and Market News International.

Overall Rating

5 Stars ***** (out of 5)

Overall Saxo Banks offering is excellent and backed up by a quality support service. Saxo Bank’s capital market and specifically Forex offering rank as one of the best in the market.