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Saxo Forex Broker provides real users with 6 positive reviews, 10 neutral reviews and 32 exposure review!

Saxo Broker Review

8.25

WikiFX monitor

Regulation

Regulated in Australia

Risk Control

Risk Manage

Saxo Review 48

Latest All(48) Positive(6) Neutral(10) Exposure(32)
Exposure
Unable to Withdraw

Can't withdraw funds. If you wanna get your money, you must top up the same amount, why not let withdraw funds, deliberately arbitrage

柏林洗车行
2021-01-25
Exposure
Keep asking me to add money when I operate here. If I withdraw funds, I break their rules. Saxo, a fraud

I deposited 50,000 but they count it as 30,000

王丽娟
2021-01-13
Exposure
Saxo

Unable to withdraw. They don't approve my applications at all. Pls help me

余生陪你走
2021-01-03
Exposure
Fraud paltform. I deposited but I can't log in before Iwitdhraw funds here

I don’t know how to deal with a liar, do you know this?

暗夜46523
2021-01-02
Exposure
Did I meet a fraud broker?

Unable to log in to the webpage, there is a lot of money in the account on the webpage and it is impossible to withdraw it

暗夜46523
2021-01-01
Exposure
Is it a fraud platform? I can't withdraw the money and the web is disabled. How can I get my money back?

Is it a fraud platform? I can't withdraw the money and the web is disabled. How can I get my money back?

FX4696558602
2020-12-30
Exposure
Saxo

The marketing promotor said that each person can only register and operate once. I used my own ID card registration account to recharge 30,000 for the first time. The teacher said that I had made a mistake and could not withdraw cash, or I would add funds to 200,000, but It is impossible to add so much capital. I can’t withdraw cash. I mentioned twice that I had violated the rules. The second time I used my nephew’s ID card to register an account and recharged 30,000 in it. After the operation, I applied for cash withdrawal, but the next day I said that my bank card number was filled in incorrectly. I must pay a 20% confirmation fee, confirm that it is my own operation, and modify the bank card number for me to withdraw. According to their customer service, I paid a confirmation fee of 45,000 and continued to apply for withdrawal, but the next day I said that my credit score was not enough and it was lowered, so I did not allow the withdrawal for various reasons. My friend said that he needs to pay personal income tax for the third time. I don’t know what the fourth time will be. I want to ask Hong Kong Saxo Financial for an explanation. Why my own money has not been withdrawn for various reasons? I chose to report to the police and must take my recharged money back. This is a fraud. My account is called Yao Shibin, and my nephew's account is called Yao Zhengsheng. The money was recharged by me. All kinds of routines made me fall into it step by step. I can’t get a penny now, and I recharged more than 100,000 yuan.

姚世斌
2020-12-20
Exposure
SAXO prohibited customers from withdrawing funds with a series of tracks!!!

Starting from the deposit gift packs, step by step prevent withdrawals. The first time the personal account information was incorrect, the second time the credit score was reduced as a reason to restrict the withdrawal, and the third time the reason was that the margin must be paid to continue freezing my account. I asked the customer service for a Chinese website. The customer service even said that this is not their scope of services. The exposure is to let more people see SAXO, what kind of platform it is! It's a liar, do we still dare to deposit? Maybe there will be personal income tax agai. So many taxes and your account will be frozen again. SSAXO is really a bottomless pit! Ask the customer service about the deposit can be withdrawn after payment? The customer service’s answer is ambiguous, or simply not answering, it’s really chilling. The three times add up to nearly 600,000. What kind of platform it is. Small amount of money are withdrawn quickly, but large amount of money are trapped by layers of traps.

淡然66559
2020-11-24

  

SAXO 2025 Review: Everything You Need to Know

  Saxo Bank, a prominent player in the online trading landscape, continues to impress in 2025 with its extensive range of trading options and robust platforms. The broker is well-regarded for its comprehensive research tools and a user-friendly trading experience. However, it does come with high minimum deposit requirements for premium accounts, which may deter some traders.

  Note: It's important to highlight that Saxo operates multiple entities across different jurisdictions, which can affect the services and pricing available to clients based on their location. This review aims to provide a fair and accurate assessment of Saxo based on various sources.

  

Ratings Summary

Category Rating (out of 10)
Account Conditions 8
Tools and Resources 9
Customer Service 7
Trading Experience 8
Trustworthiness 9
User Experience 8
Cost Structure 7

  We rate brokers based on a comprehensive analysis of their services, user feedback, and expert opinions.

  

Broker Overview

  Founded in 1992, Saxo Bank has established itself as a leading multi-asset broker, catering to both retail and institutional clients. The broker operates under various regulatory authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Danish Financial Supervisory Authority (FSA). Saxo offers a proprietary trading platform, SaxotraderGO, along with Saxotrader Pro, providing access to a wide range of asset classes, including forex, stocks, ETFs, CFDs, options, and futures.

  

Detailed Breakdown

  

Regulatory Environment

  Saxo Bank is regulated in multiple jurisdictions, including:

  • FCA (UK): Offers strong consumer protection with compensation up to £85,000.
  • ASIC (Australia): Provides oversight with stringent consumer protection measures.
  • FSA (Denmark): Ensures compliance with EU regulations.

  This multi-tier regulatory framework enhances Saxos credibility and trustworthiness in the trading community.

  

Deposit/Withdrawal Methods

  Saxo provides various funding options, including bank wire transfers and credit/debit card transactions. However, it does not accept third-party payments. There are no fees for deposits or withdrawals, although third-party banking fees may apply. The minimum deposit for a classic account is $0, making it accessible for new traders. However, the platinum and VIP accounts require minimum deposits of $200,000 and $1,000,000, respectively.

  

Account Types

  Saxo offers three main account types:

  • Classic Account: No minimum deposit required, suitable for most traders.
  • Platinum Account: Requires a minimum deposit of $200,000, offering lower spreads and priority customer support.
  • VIP Account: Designed for elite traders with a minimum deposit of $1,000,000, providing the best pricing and access to Saxo's expert strategists.

  

Asset Classes

  Saxo boasts an impressive array of over 70,000 tradeable instruments, including:

  • Forex: 190 currency pairs.
  • Stocks: Access to global exchanges, including U.S. and European markets.
  • ETFs and Mutual Funds: A vast selection for diversified investing.
  • CFDs: Covering commodities, indices, and single stocks.

  This extensive offering allows traders to diversify their portfolios effectively.

  

Cost Structure

  Saxo's pricing is competitive, particularly for high-volume traders. The spreads for major currency pairs like EUR/USD are around 0.9 pips for classic accounts and can drop to 0.7 pips for VIP accounts. However, there are additional costs, including a $6 round-turn commission for smaller CFD positions and a 0.25% currency conversion fee.

  

Leverage

  Saxo offers leverage up to 1:30 for retail clients, which is standard across many regulated brokers. This leverage allows traders to increase their exposure but also comes with heightened risk.

  

Available Platforms

  Saxo provides two main trading platforms:

  • SaxotraderGO: A web-based platform that is user-friendly and supports various devices.
  • Saxotrader Pro: A downloadable desktop platform designed for professional traders, offering advanced features and customization options.

  

Restricted Regions

  Saxo does not accept clients from the United States, which may limit its appeal to American traders. However, it serves clients across 170 countries, making it a truly global broker.

  

Customer Support

  Customer support is available 24/5, but the lack of live chat functionality for demo accounts can be a drawback. Users have reported variable experiences, with some praising the responsiveness while others noted difficulties in reaching support for general inquiries.

  

Language Support

  Saxo Bank offers customer service in multiple languages, catering to its diverse client base. This is particularly beneficial for traders from different regions seeking assistance in their native languages.

  

Conclusion

  Saxo Bank is a reputable broker that excels in providing a wide range of trading instruments and advanced trading platforms. Its strong regulatory framework and commitment to client security make it a trustworthy choice for traders, especially those with significant capital. However, the high minimum deposit requirements for premium accounts may not be suitable for all traders, particularly beginners. Overall, Saxo Bank stands out as an excellent option for experienced traders looking for a comprehensive trading experience.