Saxo Capital Markets Review 2022

Saxo Capital Markets review
Saxo Capital Markets Fees Explained

• Saxo Capital Markets doesn't charge withdrawal fees.
• Saxo Capital Markets does not charge a fee for inactive accounts.
• Saxo Capital Markets doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Saxo Capital Markets Fees Compare Against Other Brokers

Saxo Capital Markets Minimum Deposit

Saxo Capital Markets require a minimum deposit of 6500 GBP/USD/EUR when opening an Saxo Capital Markets trading account.

A minimum deposit is the minimum amount of money required by Saxo Capital Markets to open a new online brokerage account with them.

Don't be scared off by brokers like Saxo Capital Markets charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make returns some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Saxo Capital Markets Withdrawal Fees

Saxo Capital Markets doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

For example Saxo Capital Markets allows you to withdraw your funds to Credit cards, Bank Transfer, Debit cards, Payoneer.

Saxo Capital Markets Inactivity Fees

Saxo Capital Markets does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts and clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Saxo Capital Markets Deposit Fees

Saxo Capital Markets does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee.

The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Saxo Capital Markets Commission Fees

Saxo Capital Markets does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Saxo Capital Markets review
Trading on Saxo Capital Markets web platforms and other applications

Saxo Capital Markets offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

A Saxo Capital Markets iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

Saxo Capital Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See Saxo Capital Markets's platforms

Is the Saxo Capital Markets Trading Platform Secure?

Saxo Capital Markets safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Saxo Capital Markets also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating Saxo Capital Markets.

Saxo Capital Markets Trading Platform Options

Saxo Capital Markets does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Saxo Capital Markets offer an their own custom trading platform developed and tested in house. The Saxo Capital Markets trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The Saxo Capital Markets platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With Saxo Capital Markets you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Saxo Capital Markets platform including news and quotes. Discover possible trades with the strong charting tools found with Saxo Capital Markets. Saxo Capital Markets is available as downloadable applications or online through the cloud. Monitor your orders with Saxo Capital Markets and receive breaking news in your positions.

Saxo Capital Markets Trading benefits

• Allows scalping
• Offers STP

Saxo Capital Markets Trading Accounts Offered

Below we give an overview on the account types that Saxo Capital Markets offer. Whatever you are looking to trade the varying Saxo Capital Markets account types will be able to provide you with what you need.

• Demo account
• Mini account
• Standard account
• ECN account
• STP account

Can I try Saxo Capital Markets?

Saxo Capital Markets offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

Saxo Capital Markets withdrawal and funding methods

Please note that the list of Saxo Capital Markets payment methods below depend on the Saxo Capital Markets Entity and the Clients Country of Residence.

All available Saxo Capital Markets payment methods available to you can be found in your Saxo Capital Markets members area checked on the Saxo Capital Markets website.

Saxo Capital Markets offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Saxo Capital Markets

Saxo Capital Markets Payment Methods

• Saxo Capital Markets accepts Credit cards
• Saxo Capital Markets accepts Bank Transfer
• Saxo Capital Markets accepts Debit cards
• Saxo Capital Markets accepts Payoneer

How can I start trading with Saxo Capital Markets?

When opening a trading account with Saxo Capital Markets, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Saxo Capital Markets trading platforms here. You will need to provide some basic documentation to prove your identity as part of Saxo Capital Markets onboarding and normal KYC identity checks. These checks are standard practice and help Saxo Capital Markets provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with Saxo Capital Markets

Saxo Capital Markets allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Saxo Capital Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

CFD Trading on Saxo Capital Markets

let's take a look at some of the basics of using Saxo Capital Markets leverage.

Saxo Capital Markets offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Saxo Capital Markets leverage magnifies both profits and losses when trading.

Let's say for example you buy/sell ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Saxo Capital Markets trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Saxo Capital Markets leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Saxo Capital Markets CFDs are typically used for short to medium term trades. For example Saxo Capital Markets intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Limit Risk When Trading with Saxo Capital Markets Stop Loss, Saxo Capital Markets Stop Limit Orders

A stop-loss order is an order placed with a broker like Saxo Capital Markets to buy/sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education Resources at Saxo Capital Markets

To trade effectively with Saxo Capital Markets, it's important to get a have a good understanding of the Saxo Capital Markets trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Saxo Capital Markets and externally.

Saxo Capital Markets offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Saxo Capital Markets.

Take time to look around the Saxo Capital Markets platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Saxo Capital Markets

As part of our Saxo Capital Markets review we review customer service options, response times and Saxo Capital Markets trading platform problem resolution effectiveness.Saxo Capital Markets support a wide range of languages including Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish.

Saxo Capital Markets have a double AA grade support rating because Saxo Capital Markets offer live chat and email support in multiple languages.

Livechat Support at Saxo Capital Markets

Saxo Capital Markets does not offer LiveChat Support.

Email Support at Saxo Capital Markets

We sent several emails to Saxo Capital Markets and answer times overall were excellent. The fastest response from Saxo Capital Markets was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with Saxo Capital Markets, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Saxo Capital Markets.

Phone Support at Saxo Capital Markets

Saxo Capital Markets does not offer Phone Support.

See how Saxo Capital Markets Support Compares Against Other Brokers

What you will need to open an account with Saxo Capital Markets

As Saxo Capital Markets is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

• Be aware that the expiration date of Proof of address document for different entities under Saxo Capital Markets Brand may be different.
• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore Saxo Capital Markets's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Saxo Capital Markets you can visit the Saxo Capital Markets trading platform here.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.home.saxo/ on August 15, 2022.

Saxo Capital Markets review written by Andrew Blumer and Mark Hansen