This broker offers a standard account type. As for spreads, they begin at 0. In this account you have over This makes it a very popular account type choice with new traders. The Saxo Bank Platinum account has a minimum deposit of , USD or any amount equivalent to that in a different currency. As for customer support your local language will be prioritized if you contact them.
This account has even tighter spreads and commissions. You will have the best pricing and service available from the broker. The minimum deposit is 1,, USD. You may also use a different currency as long as the amount is equivalent. This account will give you a personal relationship manager that will speak to you in your local language. You may also directly contact Saxo Bank market experts to ask about market insights. The previously mentioned service is known as Saxo Strats access.
As a VIP account holder, you will receive exclusive event invitations. It is a stockbroking account that has 11, available assets, stocks, and ETFs. The Saxo Bank Joint account is for those who would like to open an account alongside someone else , and trade together. You can either opt for the classic, platinum or VIP account. According to their website, joint accounts can only be between two persons, and they can only be direct family members such as siblings, spouses, parents or children.
Saxo Bank does not offer Islamic accounts. This means that Saxo Bank charges swap fees and it is not allowed for those who follow the religious law. If you would like to know more about swap free islamic accounts, please check our article on the best Swap Free Islamic Forex Brokers. If you open a professional account you may access higher leverage on all assets. For forex it goes all the way up to But first, you must prove you are eligible by complying to at least two of the following requirements:.
Saxo Bank has over 10 base currencies to offer. It is important to make sure that the base currency on your account is the same one you will be using when you deposit or withdrawal. In this way you will be able to avoid conversion fees. Saxo Bank works with minimum deposits which are usually high and will vary depending on the Saxo Bank entity. The Saxo Classic account has the lowest deposit minimum which would be the following:.
Deposits take between 1 to 2 business days to be credited into your account. There are limited deposit methods you can choose from such as bank wire transfer, credit cards or debit cards like visa, mastercard and maestro. There are no e-payment methods available. Although deposits are usually fee free , there will be other fees you will be charged.
One of them is the conversion fee. It is applied if your base currency does not match the currency you are depositing with. Withdrawals take a bit more time to process than deposits. It will take up to three business days to complete a withdrawal. The methods available include wire transfers, and credit cards. All of the same methods that are available to make your deposits.
Spreads and commissions will vary depending on the account you have. If you have a higher-tier account you will have better spreads. The lowest floating spread , which is the price difference between the Ask and Bid, starts at 0. The assets that are most popular for trading all have minimum spreads. These would be the following:. Saxo will charge an overnight fee on almost every asset. This is because the broker is a CFDs provider , making stocks the only exception.
The mentioned fee will be charged daily when the market closes. Also known as the rollover fee, you may find the amount that will be charged for holding your position overnight on the trading platform you will be using. Saxo Bank will charge a fee to all clients who have not entered a trade in a period of six consecutive months.
Saxo Bank has an intuitive platform that can work for both beginners and experienced traders. For everyone involved in finance, it is important to understand what features the company offers to see if they suit your needs.
This means that your order will be directly processed without any intervention from Saxo Bank. In other words, this electronic payment process is automated and it will connect you directly with the market. This means that they will both buy and sell operations, creating their own internal market.
Saxo Bank has a minimum trade size of 1 micro lot , in other words, 0. The functions of which can be to make transactions, payments, information, and access as smooth as possible. Saxo Bank prioritizes the importance of offering risk management tools..
They offer five of these in combination with your trading platforms. First, you may access stop losses or take profits to protect yourself from losses and secure your gains. With both these options you can exit a position by pre- selecting your stop loss price. Another available tool are limit orders.
With this, you can buy or sell once the asset you have selected reaches a specific price. A fourth option are trailing stops that will allow you to secure profits as long as the asset you choose continues moving in the right direction. The order will remain open as long as it is in your favor. Saxo Bank also offers margin calls which is a warning when your equity falls below a certain level. Trading hours will depend on the asset. The leverage will depend on three variables: your regulation area, the account you have registered with, and the asset you will be trading.
As an example, the maximum leverage within the European Union and the United Kingdom is As for Dubai you may go up to , and Singapore will allow a maximum leverage. Picking a platform that is right for you will also influence your broker choice. It will depend if you must trade on the go, or if you prefer to view your charts, and tools on a desktop screen, choose what is best for you, though the broker offers some excellent choices in all regards. Saxo Bank offers a vast number of charting and trading tools such as correlations table, option risk tools, FX open positions, CME Benchmark, and more.
The two proprietary platforms provide a good number of those tools. If you happen to need an additional tool, you can connect your account to a third party charting tool such as Trading View. Besides, you can also use APIs for a better chart analysis. SaxoTraderGO is an award winning proprietary trading platform. It stands out because of its multi-asset alternatives , the multiple charting tools, and great account management capability. Furthermore, it is available on both desktop and mobile IOS and Android.
Some of the risk management tools it offers are margin breakdowns, stop orders, account shields, and margin alerts. It includes a research hub where you can access the latest news on asset movements, global sales trading market updates, and more. You can even get these sent to your phone if there is a relevant movement in the market.
If you download this proprietary trading platform you will have an account overview to help you manage or analyse performance. A portfolio summary, returns breakdowns, and performance analysis will help you examine your past moves. Although it is only available for desktop , you can arrange the layout in up to six screens , and it offers account management functions as well.
For those who choose this trading platform, you will have access to advanced trading features such as a charting package, an option chain to trade FX vanilla and touch options, and algorithmic orders. This last feature is only available on major US, Asian, and European markets. Saxo Bank has both CFDs and real trading for their clients. You have over Forex can be traded as CFDs.
You will find over forex pairs that start from 0. Saxo Bank has only four commodities in total: gold, silver, WTI, and corn. These can be traded as CFDs, futures, and options. You can go long or short on over 25 indices which you can trade as CFDs. They cover certain markets such as the US, European and some Asian indices.
Saxo Bank allows you to select between 37 stock exchanges , offering over 19, stocks. This bank offers over 3, ETFs with competitive commissions. You can choose from 30 different exchanges. According to Saxo Bank, there are over 5, government and corporate bonds from over 26 different countries in regions such as Europe, the US, Asia, the Middle East, and Latin America. You can trade over 1, options listed on 23 different exchanges worldwide. Forex options are also available on Saxo Bank.
If you would like to invest in mutual funds, Saxo Bank offers zero commissions. It is a collective way to invest, where a group of funds is traded by a professional investor in order to generate profit. The professional investor usually buys securities such as stocks or bonds, but they might also trade other assets. SaxoStrats is a team of eight people that offer a market insight service.
You can read their insights which are based on their experience in articles that are available for all. Saxo Bank does not allow any of their clients to access social or copy trading services. As for copy trading, this is also not catered for. In this final section of our Saxo Bank Review, we will take a closer look at two more important areas that could definetly impact both your current, and future trading experiences. Saxo Bank is multi-language.
Saxo Bank offers different options for you to inform yourself for free. You can also catch up on market movements on their daily news section. If you need some questions answered you might want to look at their important FAQ section which is supported in multiple languages, as well as their email or phone numbers you can contact. They do not have a live chat available on their website or platforms, only a chat that is powered by a bot. There are also podcasts for those who prefer to just listen.
You can see platform video guides that will help you learn how to work on your desktop or mobile platform. These step by step videos will teach you simple things such as how to draw annotations on your chart, and even how to manage risks while trading stocks, forex, and commodities. There are also beginner courses that are videos that are mostly no longer than 20 minutes.
The products you may access are forex, options, bonds, equities, futures, forex options, and CFDs. Learn about margin, leverage, and more. They are made to help you better your knowledge on basic strategy such as managing risks, planning the trade, trading the plan with tips for everyone. They also have videos to learn how important it is to control your emotions, and staying disciplined. This is not ideal for beginners. Still, all traders can open a day free demo account to try out the broker.
The Saxo Bank demo account is free. To open a live trading account of any type, standard, classic, or platinum, a minimum deposit is required. However, depending on your location, it may be higher. The broker offers more than 3, ETFs you can trade. These are listed on a total of 30 stock exchanges worldwide. Your email address will not be published. Check our help guide for more info. Compare List. Security Cost Trading Education Rated: Excellent.
View Contents Table of contents. Among the main features, which we will go into in this Saxo Bank review, we can find: Well-regulated trading broker Forex spreads from 0. Our Opinion. Synthesis: who is Saxo Bank suitable for? Pros and Cons Downsides Of course, the first major downside we can notice is that the minimum deposit here comes in higher than many other brokers.
Advantages On the plus side, you will find that Saxo Bank offers a very low trading cost overall. Pros and Cons: a summary The table below highlights all of the key broker areas alongside pro and cons in each. Pros Proprietary trading platforms with a professional edge are offered They provide access to a massive number of markets Cons Social and copy trading features are all unavailable SaxoTraderGO Review One of the proprietary Saxo Bank trading platforms on offer is the SaxoTraderGo platform.
Pros Suitable to the majority of traders with the broker of all levels Available on both desktop and mobile Cons You need to hold enough cash balance to cover monthly subscriptions on the last day of the month or your access to the features will be removed SaxoTraderPRO Review A step up to professional level brings you to another top-class proprietary trading platform the broker offers which is ideal for more experienced or advanced traders even though it is only available as a downloaded desktop platform.
Pros Perfect for advanced, high-volume traders You can use SaxoTraderPRO as a professional or institutional investor Cons Only a desktop platform is offered Again you need to hold a sufficient cash balance through the end of the month to cover subscriptions and avoid cancellation.
Saxo Bank Security. Foundation and Offices Founded in , this Danish investment bank offers brokerage services. Saxo Australia. Saxo Hong Kong. Minato-ku, Tokyo , Japan. Saxo France has its office at 10, rue de la Paix, 75 Paris, France. Saxo The Netherlands Keizersgracht Dubai Downtown, Burj Khalifa area. Dubai, UAE. Saxo Singapore is at 3 Church Street, Samsung Hub Singapore Saxo Switzerland Geneve can be found at 5 bis, place de la Fusterie.
Saxo China Shanghai. Although they do not have public information on the location of this office, they have added a phone number on their website. Saxo Capital Markets Singapore Pte. Saxo Bank Switzerland Ltd. Saxo Bank Securities Ltd. They are listed under the license number Money Protection Saxo Bank offers their clients money protection which can provide you excellent protection if the company encounters serious financial problems such as bankruptcy or insolvency.
There are a couple of great protective measures in place to guard against these situations. Awards Saxo Bank has won a series of awards, given to them because of different high standard services. They have won some of the following: Finance Magnates gave them two accolades. One of them is for being the Best B2B liquidity provider.
The second is for the Best retail FX broker. Who can use Saxo Bank? Africa Americas Asia Europe. Pros Physically present with 13 offices Under important tier 1 regulators The company has over 20 awards to prove its services They have vast experience.
Cons They are not available in the US and other major markets. Saxo Bank Cost. Account Types Here is a look at each and every account type you can expect to find at the broker. According to its website, the maximum leverage they offer is We are by no means suggesting high leverage is good for everyone. You should always pay special attention when configuring leverage on your trading account. In any case, remember that you can always use a demo account if you are not sure about something or want to explore how the market works before investing real money.
Using leverage is definitely risky, but as individuals, we should be able to choose what risks we want to take. This broker advertises hour assistance from Monday to Friday. The website has other tools such as macroeconomic analysis, interest rates, live quotes, economic calendar. Opening an account looks very easy. You just have to complete the form online and upload your passport and proof of residence in order to verify the account.
We do not recommend trading with Global FX. Consider trying these brokers:. This broker is not properly regulated. This on its own is not a bad sign, but considering the structure of this company is scarily complicated and the information on the website is questionable and none of their awards come from industry experts.
If you decide to proceed, we advise doing so with caution, as you should in all circumstances, but take extra caution in this case. Best cTrader Brokers is an information portal focused on the cTrader platform and the community of brokers and traders who use the multi-award-winning platform on a daily basis. RoboMarkets Review. Kimura Trading Review. Global FX Review Reviews. Introduction to Global FX Global FX is an international forex broker which offers its clients to trade forex as well as CFDs on cryptocurrencies, stocks, precious metals and oil products.
Fixi — which is a dissolved company that no longer operates. Trading Conditions One curious thing about this broker is that they offer very low leverage on their trading accounts. Premium WordPress Themes Download. Download WordPress Themes Free.
Cancel Post. Please do non post unverified reviews. Share only your real experience. Technical support. Trading conditions. Additional services. Pepperstone Group Limited Company 4. Write a review. Technical support 5. Trading conditions 5. Additional services 4. Pepperstone Forex Broker Pepperstone offers the following types of accounts: days practice trading account Standard account — It is characterized by negative balance protection and lack of commission at spreads that begin from 1.
The spreads are the lowest in Australia. Is Pepperstone scam or not? Justin Grossbard has been investing for the past 20 years and writing for the past He co-founded Compare Forex Brokers in after working with the foreign exchange trading industry for several years. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Pepperstone has two main accounts for CFD and forex trading. The standard account is for beginner traders with no commissions but higher spreads.
The razor account has the lowest ECN broker spreads and commissions. The Razor account spreads are compared below and you can view the Standard vs Razor Account comparison table to understand more about the differences between the two. With the Razor account the most popular trading account across the MetaTrader 4, MetaTrader 5 and cTrader platform, this analysis looks at those spreads first.
The Euro is one of the most popular currencies in the world for forex traders. As below highlights, Pepperstone has the lowest average spreads across two of the three most popular Euro currency pairing. Data taken from broker website. Asia Pacific remains one of the fastest-growing regions in the world, with Australia and Singapore leading the way. The commissions set by Pepperstone for Razor account customers are based on the forex trading platform chosen and currency pair selected.
This is detailed below, focusing on the three main forex platforms. The most popular forex trading platform in the world is MetaTrader 4 MT4 with most Pepperstone customers selecting this software. The table below shows the commissions. Pepperstone was found to be the best MetaTrader 4 broker in the world based on the low spreads and commissions shown above.
In addition, Pepperstone won one of the speed test categories for MT4 market execution and has award-winning customer service. You can view our full MetaTrader 4 comparison by clicking on the button below. This is a lower commission rate than MT4 for this base currency only.
While other commissions are the same as MetaTrader 4 this may be an indication they want to attract more traders who chose this base currency. Traders often choose the cTrader platform due to the unique programming language that allow automated trading to occur. The cTrader commission rate is based on a 7 unit charge per lot. This is based on the first currency displayed in any currency pairing.
Across a number of currency pairs, Pepperstone has either the lowest or competitive spreads. The broker also has commissions similar to most other leading ECN brokers in the industry. Razor is recommended for any trader looking to minimise their brokerage while trading forex or CFDs. A pip is a price interest point. A price interest point is a way to measure the smallest amount of change that can occur in the exchange rate between a currency pair.
A currency pair is the two currencies that are being exchanged or bought and sold. Usually, this payment is in the form of a fee or commission. A broker who charges a commission will be taking a cut off the pip. A trade will involve a bid and an asking price; the spread is the difference between the two.
A broker who charges clients on a percentage of spread basis will either have a variable or fixed spread. A fixed spread will be the same regardless of market fluctuations and is offered by some broker such as City Index and easyMarkets. In contrast, a variable spread will fluctuate with the market. You can also learn more about the best spread betting forex brokers here. Without currency pairs, there would be no such thing as a foreign exchange market.
A currency pair will always factor in two distinctive parts, the base currency and the quoted currency. These are two currencies, but in Forex trading they are one unit. The value of the currency pair is always the base relative to the quote currency.
These actions happen simultaneously, so in our initial scenario you would be buying the Australian Dollar as you were selling the US Dollar.
Once you opened your account, please send your trading account number to: trading pepperstone. Create account. Trade Now. Tight spreads. Enjoy spreads as low as 0. Fast and reliable. Fast execution, Regulated broker. Segregated client funds in tier 1 banks. Powerful platforms.
MetaTrader 5. The more powerful release of MetaTrader. Tailor your trading style with advanced customisation. MetaTrader 4. Join Now. Chris Weston. Wow what a week that was in financial markets. Tons to digest. Have a read below to find out more.
Technical support. Trading conditions. Additional services. Pepperstone Group Limited Company 4. Write a review. Technical support 5. Trading conditions 5. Additional services 4. Pepperstone Forex Broker Pepperstone offers the following types of accounts: days practice trading account Standard account — It is characterized by negative balance protection and lack of commission at spreads that begin from 1. The spreads are the lowest in Australia. Is Pepperstone scam or not? No Yes.
Pepperstone Reviews 2. Post your comment Cancel reply Your email address will not be published.
Related questions (More answers below). Has anyone in Australia used Pepperstone Forex Brokers? 2, Views · Can I start forex trading with $? Pepperstone - The #1 Broker Instead, they are purchased from a broker. Residential REITs are concerned with rental apartment buildings and. We do not recommend trading with Global FX. Consider trying these brokers: Pepperstone · IC Markets · Axiory. Global FX Technology. This.