69% of retail investor accounts lose money when trading CFDs with this provider.
Like most brokers, Saxo Capital Markets takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on Saxo Capital Markets’s website. The colour bars show how competitive Saxo Capital Markets's spreads are in comparison to other popular brokers featured on BrokerNotes.
|Saxo Capital Markets|
|EUR/USD (Average: 0.7 pips)||0.2 pips + $2.00||0.6 pips + $1.00||0.13 pips + $5.00|
|GBP/USD (Average: 1.1 pips)||0.2 pips + $2.00||0.9 pips + $1.00||0.49 pips + $5.00|
|USD/JPY (Average: 1.1 pips)||0.2 pips + $2.00||0.7 pips + $1.00||0.25 pips + $5.00|
|AUD/USD (Average: 0.8 pips)||0.4 pips + $2.00||0.6 pips + $1.00||0.27 pips + $5.00|
|USD/CHF (Average: 2.3 pips)||0.8 pips + $2.00||1.5 pips + $1.00||0.64 pips + $5.00|
|USD/CAD (Average: 2.9 pips)||0.8 pips + $2.00||1.7 pips + $1.00||0.47 pips + $5.00|
|NZD/USD (Average: 3.6 pips)||0.8 pips + $2.00||2.0 pips + $1.00||1.1 pips + $5.00|
|EUR/GBP (Average: 2.4 pips)||0.6 pips + $2.00||0.9 pips + $1.00||1.0 pips + $5.00|
Spreads are dynamic and are for informational purposes only.
As you can see, Saxo Capital Markets’s minimum spread for trading EUR/USD is 0.2 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Saxo Capital Markets vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with Saxo Capital Markets at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0.97. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|Saxo Capital Markets||XTB||AvaTrade|
|Spread from:||$ 1.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 1.00||$ 2.00||$ 7.00|
|$1 more||$6 more|
|Visit Saxo Markets||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change.
Saxo Capital Markets offers over 19,269 different instruments to trade, including over 180 currency pairs. We’ve summarised all of the different types of instruments offered by Saxo Capital Markets below, along with the instruments offered by XTB and AvaTrade for comparison.
|FX / Currencies||Saxo Markets||XTB||AvaTrade|
|# of forex pairs offered||180||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||Saxo Capital Markets||XTB||AvaTrade|
|# of commodities offered||70||21||16|
|Index & Stock CFDs||Saxo Capital Markets||XTB||AvaTrade|
|# of stocks offered||19000||1606||99|
|See Saxo Markets's Instruments||See XTB's Instruments||See AvaTrade's Instruments|
Saxo Capital Markets offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
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 are on the move.See Saxo Markets's platforms
Saxo Capital Markets allows you to execute a minimum 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 a market maker, Saxo Capital Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that Saxo Capital Markets offers its traders below.
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 has a BrokerNotes double AA support rating because Saxo Capital Markets offer over three languages email and phone support.live chat and email support.
As Saxo Capital Markets is regulated by Financial Conduct Authority , 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:
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 10 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 their website here.
CFDs are leveraged products and can result in the loss of your 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 http://uk.saxomarkets.com/ on 01/01/2020.