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Saxo Bank review

Saxo Bank review: regulation (EU Registered Bank), minimum deposit 100, leverage up to 1:500, platforms and current bonuses.

4.2of 5
Open account
Minimum deposit100
Max. leverage1:500
Spread from3.0
Founded2010

Trading conditions

Broker type
STP/ECN
Minimum deposit
100
Maximum leverage
1:500
Minimum spread
3.0
Platforms
MetaTrader 4 (MT4)
Account currencies
USD

Bonuses

No deposit bonus
No
Welcome bonus
Yes
Other promotions
Yes

Accounts and features

Demo account
Yes
Islamic account
Yes
Swap-free
Yes
Mini account
Yes
VIP account
Yes
Managed account
Yes
Segregated funds
Yes
Hedging and scalping
Yes
News trading
Yes
Mobile trading
Yes
Web trading
Yes

Deposits and withdrawals

Deposit methods
Moneybookers - WebMoney - Paypal - Cashu - Neteller - MasterCard - VisaCard - Bank Transfer
Withdrawal methods
Moneybookers - WebMoney - Paypal - Cashu - Neteller - MasterCard - VisaCard - Bank Transfer

Company

Regulation
EU Registered Bank
Founded
2010
Country
Denmark
Website languages
Arabic English French Russian
Phone
+45 39 77 40 07

Saxo Bank pros and cons

Pros

  • Regulated by EU Registered Bank
  • Low minimum deposit: 100
  • Scalping and hedging allowed
  • Swap-free Islamic accounts available
  • Free demo account
  • Trading platforms: MetaTrader 4 (MT4)

Cons

  • No no-deposit bonus at the moment
  • Leverage up to 1:500 magnifies losses as well as profits
  • Conditions and bonuses can differ by regulated entity

Saxo Bank FAQ

Is Saxo Bank a safe and regulated broker?

Saxo Bank was founded in 2010 and is regulated by EU Registered Bank. Client funds are held in segregated accounts. Your protection depends on which Saxo Bank entity opens your account.

What is the minimum deposit at Saxo Bank?

The minimum deposit at Saxo Bank is 100. Payment providers may set their own minimum amount.

What is the maximum leverage at Saxo Bank?

Saxo Bank offers leverage up to 1:500. Regulators in the EU, UK and Australia cap retail leverage lower, usually at 1:30 on major forex pairs.

Does Saxo Bank offer a no deposit bonus?

No. Saxo Bank does not currently offer a no deposit bonus. It offers a welcome promotion: Yes. See our forex no deposit bonus list for brokers that do.

Which trading platforms does Saxo Bank offer?

Saxo Bank supports MetaTrader 4 (MT4). Mobile trading is available.

Does Saxo Bank allow scalping, hedging and news trading?

Yes. Scalping and hedging are allowed, and news trading is allowed.

Does Saxo Bank offer an Islamic (swap-free) account?

Yes. Saxo Bank offers swap-free Islamic accounts with no overnight swap charges.

Risk warning: Forex and CFD trading on margin carries a high level of risk and may not be suitable for all investors. Bonus offers are provided by third-party brokers and can change at any time.

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Saxo Bank – NoOpen account