Saxo Capital Markets Review: Saxo Capital Markets offers access to the markets around the global. Clients can trade physica shares, ETFs, futures and options as well as CFD (contracts for difference) on indices, Forex, commodities, fixed income and equities. Saxo Capital Markets also provide DMA (direct market access) and prime brokerage services to institutional investors.
Saxo Capital Markets Good Points:
- Excellent market access
- Competitive pricing
- Professional customer service
Saxo Capital Markets Bad Points:
- No spread betting
- Not suitable for accounts under £1,000
Saxo Key Features
|Saxo was established in 1992, although the UK brokerage is not a bank (it's called Saxo Capital Markets). Saxo offer DMA (direct market access) to stock, futures and options and have their online trading platform. They mainly cater for experienced investors and as such the minimum account balance is £500.|
|Saxo Capital Market Reviews||Saxo Client Reviews
Saxo Expert Review
|Exclusive Interview||Coming Soon|
|Trading Platforms||Saxo TraderGo & SaxoTraderPRO|
|Saxo Updates||Latest Saxo Capital Markets News, Views, Reviews & Guides|
|Saxo Account Types||CFDs, Forex, Stocks, Futures, Options, Bonds, ETFs, ISA & SIPP Prime Brokerage|
|Spread Types||Fixed or variable|
|Funding Methods||Cards, Bank transfer, Stock transfer|
|Customer Support||Phone, email, messenger (very professional and experienced staff)|
|Execution Type||STP, Hedged, DMA, Internally matched|
|UK 100 Pricing||0.8 points|
|Germany 30 Pricing||1 point|
|Wall Street Pricing||1.4 points|
|Bitcoin Pricing||Crypto ETFs|
|Ether Pricing||Crypto ETFs|
|EURGBP Pricing||0.4 points|
|EURUSD Pricing||0.4 points|
|GBPUSD Pricing||0.4 points|
|Gold Pricing||0.12 points|
|Oil Pricing||5 points|
|FCA Regulated||Yes - See status|
|Inactivity Fee||$100 after 6 months|
|Overnight Financing Rates||2.5% +/- Libor|
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Very easy to use, the best trading platform out there today. 10/10
- Trading Platform 5/5
- Customer Service 5/5
- Spreads & Pricing 5/5
Very happy with Saxo - platform does everything i need it to do. Pro platform is on a different level to other platforms. Use them for both trading and investment purposes.
Professional company with professional staff who know what they're talking about.
- Trading Platform 5/5
- Customer Service 5/5
- Spreads & Pricing 4/5
What's the Saxo trading platform like?
Well, that really depends on what sort of trader you are. If you need vast market coverage, direct market access to work bids and offers, a bank of experienced dealers to work orders over the phone for you in reserve, then Saxo is great. It's a true work horse, in particular, the options and OTC FX options boards.
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Saxo is one of those brokers you've probably heard of but not really used. They sit somewhere between prime broker for hedge funds and discount forex platform for private clients. If you are a big hedge fund then Saxo is probably too small, but if you are a small private trader Saxo is probably too professional.
In the private client space the closest competitors would probably be IG who tend to cater for a more private client base. IG incidentally cater to hedge funds and also offer prime broker service with their IG Markets team.
Saxo is a social broker?
Like other social trading brokers (think ayondo and eToro) through Saxo's Trading Floor (opens new window) you can follow other traders and automatically publish your trades. It measures your profit and loss as a percentage so you can see how you rank against other clients. Also if you are a budding hedge fund manager you could potentially use it as a first step to an audited track record.
How is Saxo's pricing compare to competitors?
Unlike other brokers Saxo charge a commission rather than widen the spreads. So when you trade DMA you get the true price and then a separate commission line is added to your statement. This does put some novice traders off as it's really an admin headache and many view widened spreads of spread betting brokers as a hidden cost (i.e. one they don't have to worry about).
But the commission rates are very good. There are two levels, private client and institutional and you are charged depending on what type of client you are. Of course, if you are a private client you get charged less for things like DMA access and live pricing. If you are a high volume trader you can of course negotiate rates with Saxo.
Do Saxo do spread betting?
No, they used to have a white label with London Capital Group (LCG) but no longer offer it.