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Saxo Capital Markets Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: B
Open Saxo Markets's Website

Losses can exceed deposits. Your capital is at risk.

Saxo Capital Markets two ways: Forex, CFDs.

To open a live account, you’ll need a minimum deposit of at least $6,500. Alternatively, Saxo Capital Markets offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 551422 ). Saxo Capital Markets puts all client funds in a segregated bank account and uses tier-1 banks for this. Saxo Capital Markets have been established since 2012, and have a head office in Denmark.

Before we dive into some of the more detailed aspects of Saxo Capital Markets’s spreads, fees, platforms and trading features, you may want to open Saxo Capital Markets‘s website in a new tab by clicking the button below in order to see the latest information directly from Saxo Capital Markets.

Open a demo account Visit Saxo Markets

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Your capital is at risk.

Saxo Capital Markets screenshot

PROS

  • Segeregates client funds
  • Established in 2012
  • Regulated by Financial Conduct Authority
  • Min. deposit from $6,500

CONS

What are Saxo Capital Markets's spreads & fees?

Like most brokers, Saxo Capital Markets take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The 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.

Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Saxo Capital Markets's minimum spread for trading EUR/USD is 1.0 pips - which is relatively high compared to average EUR/USD spread of 0.82 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 Your capital is at risk.

How much does Saxo Capital Markets charge to trade 1 lot of EUR/USD?

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 Plus500 & AvaTrade.

Saxo Capital Markets Plus500 AvaTrade
Spread from: $1.00 $6.00 $7.00
Typical overnight fee: $-0.03 $9.40 $5.00
Commission: $2.00 $0.00 $0.00
Total cost of a 100k trade: $0.97 $15.4 $12
$14.43 more $11.03 more
Visit Saxo Markets Visit Plus500 Visit AvaTrade

Your capital is at risk. All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018.

General Fees

  • Saxo Capital Markets doesn’t charge inactivity fees*
  • Saxo Capital Markets doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is $0.0264
  • The rollover fee for short positions on EUR/USD is $0.0082

Commissions

  • Saxo Capital Markets does charge commission on CFD shares

What can you trade with Saxo Capital Markets?

FX / Currencies Saxo Markets Plus500 AvaTrade
# of forex pairs offered 180 61 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Saxo Capital Markets Plus500 AvaTrade
# of commodities offered 70 17 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs Saxo Capital Markets Plus500 AvaTrade
# of Stocks offered 19000 1816 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares No Yes Yes
See Saxo Markets's Instruments See Plus500's Instruments See AvaTrade's Instruments
Your capital is at risk.

What’s the Saxo Capital Markets trading experience like?

1) Platforms and apps

Saxo Capital Markets offer a user-friendly custom trading platform, available as both a downloadable program or as a broswer 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 Screenshot See Saxo Markets's Platforms

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 Your capital is at risk.

Trading Features:

  • Allows scalping
  • Offers STP
  • Low min deposit

Accounts offered:

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

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

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 trader, accounts and instruments, but as a guide, Saxo Capital Markets offer margin up to 0.02 on currencies.

Finally, we’ve listed some of the popular funding methods that Saxo Capital Markets offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer

3) Client support

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 BrokerNotes double AA support rating because Saxo Capital Markets offer over three languages email and phone support.live chat and email support.

4) What you’ll need to open an account with Saxo Capital Markets

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:

  • 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 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 March 21, 2018.