- يونيو 27, 2021
- Posted by: ForexTradeOn
- Category: IG forex Broker review
Pros |
Cons |
|
|
Introduction
Saxo Bank is one of the most popular investment banks all vr the world. It’s originally founded in 1992 in Denmark. It’s also regulated by top-tier financial authorities like the FCA, the Financial Conduct Authority in the UK. Saxo Bank has over 40,000 trading products in several categories like forex, CFDs, commodities, ETFs, and more. It also has low trading fees, with a good trading experience through its customized trading platforms. Saxo Bank also has several third party research tools that help you trade smart with the least effort and create your own trading strategies.
Is Saxo Bank Regulated?
Saxo Bank is regulated by many financial authorities like:
- FCA: the Financial Conduct Authority in the UK
- IMA: the Italian Market Authority
- The Bank of Netherlands
- DCB: Dutch Central Bank
- MAS: the Monetary Authority of Singapore
- FINMA: the Swiss Financial Market Supervisory Authority
- ACPR: Autorité de Contrôle Prudentiel et de Résolution
- AMF: Autorité des marchés financiers
- JSA: the Japanese Financial Services Agency
- SFC: the Securities and Futures Commission
- DFCA: the Danish Financial Supervisory Authority
- ASIC: the Australian Securities and Investments Commission
- CNB: the Czech National Bank
Is Saxo Bank a Scam?
Saxo Bank was founded in 1992 and has more than 30 years of trading experience and over 660,000 clients worldwide. It’s also regulated by top-tier financial authorities and has over 80 billion USD client funds within it. On the other hand, Saxo Bank is not listed on the stock exchange.
Client Protection
Saxo Bank has client protection amounts protection from several regulators as the table shows below.
Saxo Bank Legal Entities Table
Country |
Protection amount |
Regulator |
Broker’s Legal Entity |
UK |
£85, |
FCA Financial Conduct Authority |
Saxo Capital Markets UK Limited |
Italy |
€100,000 |
IMA Italian Market Authority |
BG SAXO Società di Intermediazione Mobiliare S.p.A. |
Netherlands |
No Protection |
The Bank of Netherlands & DCB Dutch Central Bank |
Saxo Bank A/S Netherlands |
Singapore |
No Protection |
MAS the Monetary Authority of Singapore |
Saxo Capital Markets Pte. Ltd. Singapore |
Switzerland |
CHF 100,000 |
FINMA the Swiss Financial Market Supervisory Authority |
Saxo Bank Switzerland Ltd. |
France |
€100,000 |
ACPR Autorité de Contrôle Prudentiel et de Résolution & AMF Autorité des marchés financiers |
Saxo Banque |
Japan |
No Protection |
JSA the Japanese Financial Services Agency |
Saxo Bank Securities Ltd. |
Hong Kong |
No Protection |
SFC the Securities and Futures Commission |
Saxo Capital Markets Hong Kong Ltd. |
Denmark |
€100,000 for cash, €20,000 for securities |
DFCA the Danish Financial Supervisory Authority |
Saxo Bank A/S |
Australia |
No Protection |
ASIC the Australian Securities and Investments Commission |
Saxo Capital Markets Australia Limited |
Czech |
No Protection |
CNB the Czech National Bank |
Saxo Bank A/S Czech Republic |
Negative Balance Protection
Please note that Saxo Bank has a negative balance protection for the EU customers in case anything goes wrong.
Two-step Verification
Fortunately, Saxo Bank has the two-step verification method while logging in.
Saxo Bank Awards
Since its foundation in 1992, Saxo Bank was awards like:
- 2021:
- Best Forex Broker By Brookerchooser
- #1 Platform & Tools 2021 By Forexbrokers
- Best Cfd Broker And Best Dma Broker In The Good Money Guides Awards
- 2020:
- Best Retail Fx Broker At Finance Magnates Awards
- Best Prime-of-prime Provider In The Fx-markets Awards
- Best Retail Fx Platform In The Fx-markets Awards
- 2019:
- Best B2b Liquidity Provider By Finance Magnates
- Best Retail Fx Broke By Finance Magnates
- Best Platform For The Active Trader By Advfn
- Best Boutique Prime Broker By Hfm
- 2018:
- Best Use Of It In Private Banking In The Banking Technology Awards
- Best Sell-side Mobile Initiative In The Self-side Technology Awards
- Best Prime Broker Technology By Hfm
- Best Margin Sector Platform In The Readers Choice Awards
- Best Prime-of-prime By Finance Magnates
- Best White Label Solution By Finance Magnates
- Best Retail Cfd Broker By Finance Magnates
- Best Multi-asset Trading Platform By Finance Magnates
- Best Platform For The Active Trader By Advfn
- 2017:
- Best Fx Broker-dealer In The Readers Choice Awards
- Best Fx Retail Platform In The Fx Week Awards
- Best Prime Broker Technology By Hfm
- Best Prime-of-prime House In The Fx Week Awards
- Best Prime Broker Technology By Hfm
- Best Forex Broker By Finance Magnates
- Best Trading Platform Project By The Banker
- Best Prime-of-prime Provider In The Fx Week Awards
- 2016
- Best Forex Broker By Finance Magnates
FAQs
- How long does it take to verify my account?
- It takes about 1 to 3 business days to verify your Saxo Bank account.
- Does Saxo Bank allow bot trading?
- Yes, Saxo Bank allows bot trading through API trading options.
- Does Saxo Bank allow scalping and hedging?
- Saxo Bank does allow scalping, but it does not allow hedging on its platform.
- When trading forex, will you lose more than your initial deposit?
- The Saxo Bank trading platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
- Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.
- Does Saxo Bank accept payments from third parties?
- Saxo does not accept payments from accounts that are not in your name (3rd party payments).
- How are my funds protected with Saxo?
- While Saxo is a member of the Danish Guarantee Fund, the client deposits are guaranteed by the fund with up to EUR 100,000 for cash deposits. Cash deposits are calculated as the net free deposit after deduction of any debt to the bank.