Saxo Bank Customer Reviews and Comments

6 Oct 2023Karina
My trading experience in the Forex market spans approximately half a decade, during which I've navigated the services of numerous brokers. Saxo Bank captured my attention instantly due to the favorable terms they presented, reflecting a genuine effort on their part to optimize trading for seasoned professionals like myself. Initially, I embarked on my SaxoBank experience with a classic account. While trading the EUR/JPY pair, I noted spreads that were reasonably competitive, hovering around the 1.5 pips mark. Eager to further enhance my trading conditions, I experimented with their Pro terminal. Impressed by its offerings, and lured by the even tighter spreads that touched 1.1 pips, I transitioned to a premium account. Regrettably, my initial enthusiasm soon met with disappointment. Post my initial transactions, I encountered glaring inconsistencies in the platform's stability. Frustrating freezes became a recurring theme, invariably resulting in financial losses. Such technical hindrances, unfortunately, overshadowed the favorable spreads and drove me to seek the services of an alternative broker. In an industry where real-time decisions and swift actions are paramount, a stable platform is non-negotiable, and I hope Saxo Bank addresses this critical aspect soon.

21 Sep 2023Chedd
I made the decision to partner with SaxoBank when it came to investing my idle funds amounting to 15,000 euros. My choice was influenced by SaxoBank's reputation, which conveyed a level of gravitas and reliability in the investment realm. I opted for the BlackRock portfolio, known for its conservative stance. Consequently, the returns are on the modest side, hovering around the 10% mark. However, I've always been of the belief that it's preferable to have consistent and modest returns rather than chasing aggressive gains that come with the peril of potentially wiping out 200-300% of one's deposit in a short span. Risk management, after all, is at the core of successful investing. When it came to the withdrawal process, I appreciated the hassle-free experience SaxoBank provided. I opted for a transfer to my Visa card. While some might find the 3-4 day waiting period a tad long, I view it as a minor inconvenience in the grand scheme of things. After all, what matters more is the reliability of the transaction, and SaxoBank delivered on that front.

2 Sep 2023George
My experience with SaxoBank left much to be desired. Right from the onset, I noticed disparities in the quotes they offered, which starkly contrasted with those provided by other brokers. These discrepancies eerily mirrored what one might expect from less reputable trading platforms. Additionally, their TraderGO trading terminal has proven to be quite underwhelming. Its lagging nature and frequent freezes become particularly pronounced during significant news releases, making effective trading nearly impossible during such crucial moments. It's one thing for a platform to have minor technical glitches now and then, but this level of unreliability during high-impact events is unacceptable. Another point of contention is the recurrent slippage. It's not just the occurrence that's concerning, but its consistent manifestation even during relatively stable market periods. And, adding salt to the wound, the slippages almost invariably resulted in a loss, with the broker seeming to close orders at the least favorable rates for traders. After grappling with these challenges and failing to realize any profit with SaxoBank, I decided it was best to cut my losses. I withdrew the remaining funds from my deposit and transitioned to a broker that I believe aligns better with my trading needs and expectations.

21 Jul 2023Sammy
I would be too naive to believe that everything will go smoothly. Yes, most of the time everything is fine, but, just yesterday, my gold deal flew rapidly to -600$. Yes, this is nothing compared to the income that I receive, which is about $ 3000-3500 per month, but still, if the gold does not even out, I will have serious problems opening the next orders. Although, looking at how the price fluctuates now, I think everything will get better soon. But, in any case, I understand that this is my responsibility, because not using the limiters (SL and TP) is my personal initiative. The broker is excellent for working in the medium term. Commissions are not robbery, orders work perfectly both on the market and pending ones. So I can recommend medium term trading through Saxo Bank.

12 Jul 2023Wilfred
They offered me a strategy with good diversification. Now there are a lot of different assets in my investment portfolio, but at the same time I like the structure, and the intermediate results of investing in general suit me too. In addition, the consultant is always in touch, quickly responds to my requests, advises as needed. In all the time that I have been with Saxo, I have not had any problems, including partial withdrawals, so I like everything about this broker.

23 May 2022Andriana
Unreliable and Limited. The platform is to some extent good; however, if you need to chat with the agent and receive support it is very challenging. The chat can be open for 5 min at most and then it restarts and you end up speaking with 10 agents before you can only address your problem. I never solved one so far. Saxo Bank is also very unreliable. They change margins, fees and their interpretation of regulation without any previous communication and as they seem appropriate, usually on client's damage. They also never send you a name or a link to the regulation they are enforcing. Especially if you are a non EU citizen, avoid it. There are many other platforms in the US which are more reliable and less costly than SAXO. Do a better research. This is a branded mamut which will not survive the New Age.

16 Feb 2021George
Very bad experience. I asked them to withdraw some money on the 1/2/2021. I got no response until I made official complaints to the Monetary Authorities of Singapore where I hold the Account and to their "complaints dept". They finally registered the bank account of the receiving bank on the 8/2/2021 but. still today on 17/2/2021 I have not received my money. The people answering the phone are totally irrelevant. I have started worrying about the rest of my money with them and I think I will have to change broker. Its not the first time that I have problems with this broker. Stay clear.

8 Sep 2021Jonathan Bartsch
Thank you for your honest review, this helps new clients be aware and cautious for sure.

10 May 2018HB
Saw an add for NDD Saxo bank trading accounts, later I find they are market makers. below is from their Product disclosure statement. 3.14 Conflicts of interest: Trading with Saxo for the Saxo Products carries an automatic risk of actual conflicts of interests because Saxo is acting as principal and issuer of the Saxo Products and Saxo sets the price of the Saxo Products and also because it might be transacting with other persons, at different prices or rates, or Saxo might be trading with market participants.

31 Jan 2018Pavol
Saxobank dead company without support team. In Saxobank doesn't exist support team, they doesn't answer on me emails. It is SCAM broker.

3 Jul 2017Silva
That’s not a good broker for some sort of trading strategies. I’ve got very poor performance since started trading using small take profits and stop losses. Other words, spreads too high for scalping. It brings my strategy performance to negative level comparing to other brokers. I also found that results are the same on all main currencies. So my conclusion is to use this broker only for position trading.

25 Apr 2017K.L. Slater
It's a terrible and not advanced company in terms of trading currencies. In my story, I was attracted by promises of broker's advantages among other firms. It pushed me to open account and make deposit after relatively short period of time. No demo at all! In addition, I had an ECN account, but in reality, there were no advantages compared to other types of accounts. All the same: requotes, wide spreads, etc. If someone wants to protest against my statements, I will glad to provide all the evidence. Unlikely, I won't communicate to anybody from broker after such a negative experience.

2 Aug 2016Pad65
Please, can someone leave a comment of true experience with Saxo Bank? Look, when I see list of all trading currencies, I get a little confused. There are 182 currency pairs. My current broker offers 32 currencies for trading. The difference is huge especially when I see much better conditions with saxo. What I do not like is a minimum required balance that is $10000. Comparing to my broker it is very high level of entrance even if Saxo bank gives you so many trading instruments. Is it really worth to deposit 10K? What special with trading solutions if broker provides the same mt4 trading platform, regulated by same authorities and have all major currencies for trading?

22 Mar 2011Rude ???
Damn rude tha's all I can say of their night dealer no damn manners at all, system slower than my grandmother walking

8 Apr 2010Pavo
I'm a Private Wealth Management client in Saxo Bank, what can I tell you about this service?, well, they've made me lost USD 150K trading with Natural Gas futures, they offer a senior advisor for your investments (with a lot of experience) but this only a joke; the senior advisor bought the future contracts without an stop loss order, the result was I lost USD 150K in just 1,5 days. It would be funny for you, but it was not for me, believe me Saxo Bank is not as good as they say.

13 Jan 2010Predac
please somebody tell me... which is the best forex borker?

30 Dec 2009johannes
guys iam confused! which is the best forex borker?

5 Jul 2009Gary De Lacy
Jean Claude blaming the broker is one thing but "legal" excuses not to give you your profits is quite another I dont think you read the comments proprerly

5 Jul 2008jean claude
people on this page is complaining only because they do not know how the market works.....
before you open a trading account with a broker or a bank PLEASE LEARN THE MARKET.....
blaming the broker for slippage, execution or else comes only from ROOKIES....

25 Jun 2008saxo trader
I am a client of Saxo bank and the platform is great but the execution on the FX is frankly average. I use saxo for my stock trading only where its quite ok.

23 May 2008fxlion
I opened with Saxo as they have a multi product platform but their execution on fx markets is always requoted and quite many problems placing stops. I have found a better deal for fx and so just kept Saxo for CFD's it works ok.

Saxo Bank

Saxo Bank, since its inception in 1992, has carved a niche as a leading authority in online Forex trading and investment landscapes. Acting as a beacon to global markets, Saxo boasts an expansive range of products and avant-garde digital trading platforms. Our global footprint encompasses over 160 countries, and our services extend to a plethora of institutional magnates. Dive deeper, and you'll find a diverse financial repository beyond Forex - 11,500 Stocks, 7,000 CFDs encapsulating...

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