Saxo Markets Forex Trading
Product Name: Saxo Markets Forex Trading
Product Description: Saxo Markets is an excellent forex broker suitable for experienced traders who want a robust forex trading platform with an institutional pedigree. The ability to trade on exchange forex futures or on-exchange FX options gives Saxo Markets the edge over most forex brokers who just offer CFDs or spot FX.
- Forex pairs available: 84
- Minimum deposit: £500
- Account types: CFDs, futures & options, DMA, investing
- Equity overnight financing: Tom/Next Swap +/-0.60%
- Pricing: EURUSD 0.7, GBPUSD 0.7, USDJPY 0.7
Saxo Markets offers traders a choice of their own proprietary forex trading platform SaxoTraderGo, as well as MT4, although SaxoTraderGo, is in my view by far the better platform. You can view major forex pairs and rank them by performance, change of various timescales, volume on the bid/offer, market spreads.
Forex Trading Ideas
If you need trading ideas, in the standard FX watchlist you can also see emerging, bullist and bearish forex trading signals. Once you click on a signal (which is displayed based on the time scale, 1D, 4h, 30 mins etc.) an order ticket is created that gives the expected direction, the technical pattern name and type as well as the success probability, the quality of the signal and the option to add a stop loss or take profit limit. You can also filter Forex pairs, by percentage returns sub-categorising major, minor and exotic markets.
Saxo Markets forex trading research tab on the platform also provides insights from their analysts, about which markets are in focus and what economic indicators may have an upcoming affect on prices. They have also have good educational articles, videos and podcasts for those that want to learn more about forex trading risk management.
Forex Trading Platform
Despite being an institutional grade forex trading platform, I actually fine it one of the easiest to use, with the ability to drag and drop a forex pair between charting, options chains, research and your positions tab.
- DMA & on-exchange forex futures and options
- Good forex analysis and research
- Discounted forex pricing for large accounts
- No forex spread betting
- High minimum deposit of £500
Research & Analysis