Saxo Bank Reviews - Forex All Brokers - Forex Brokers

Average Customer Rating: (based on 21 reviews)

(2.5 stars vs. 3.4 category average)

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NokNok

Intermediate Trader

Versatile

9/12/2011

0 of 0 customers found this helpful (0%)

Pros:: None
Cons:: Hard to-use platform
Bottom Line:: No, I would not recommend this to a friend
Quote:: Saxo banks Fx is department really bad if you don't have a account at least 20.000 USD. Because you can't have a proper risk management with less amount of money, If you buy less than 0.5 lot you have to pay additional 10 USD and with slippage and spread you pay at least 25 USD in commission for a EURUSD 0.4 lot. But SAXO Bank is a very versatile Broker Stock, Futures and Options. And I don't recommend the FX part of their products.

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joaob

Intermediate Trader

Too Complicated Platform

5/18/2010

6 of 6 customers found this helpful (100%)

Pros:: Solid trading platform, Good transaction reporting
Cons:: Hard to-use platform, Poor customer support, Wide spreads, Slow cash withdrawal process
Bottom Line:: No, I would not recommend this to a friend
Quote:: I only had a demo account and to be honest I was pretty impressed by the multiproduct interface... But using it was a real pain...It's too complicated...
The customer support was really poor, the spreads on FX were much too wide and I decided not to go on with this broker

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yee123

Intermediate Trader

Too many problems

2/9/2010

3 of 3 customers found this helpful (100%)

Pros:: None
Cons:: Poor customer support, Poor charting software, Unstable platform, Slow cash withdrawal process
Bottom Line:: No, I would not recommend this to a friend
Quote:: I experienced too many errors from their platform. You cannot execute what you want, sometimes you have to sign out and sign in again in order to place or cancel your positions.

Customer support is too bad. I wrote them a lot of emails, but no response.

It takes few second to deposit your account, but it takes too long time to withdraw your cash. I withdraw cash from my account last week, but still did not get any money, and not sure when I will get my money back.

Charting is very poor.

It seems like they are changing the visualization of their platform all the time and it is very annoying.

Your stop loss is not execute at the price you set, and you will always lost more money than you have desire.

I recommend that you should stay away from Saxobank.

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wmreid

Intermediate Trader

Excellent customer service and fully integrated 24 hour fund transfers. Buggy charting though takes trial and error to work right

7/25/2009

1 of 1 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: Started last summer with CFD's, futures and forex. I had the same platform previously with MoneyCorp Markets and Sucden (licensed 3rd parties) who charged extra on spreads for the same thing. 24 hour transfer of funds in and out and all within software. Account manager ignores emails, doesn't matter anyhow. Some crosses don't trade during Asian session, e.g EM currencies. No trading problems though the charts sometimes freeze and require re-opening. Occasional bad ticks led me to use online free charting from Tradesignal to check accuracy. Using this shows how rudimentary the charting is in comparison. Platform fails to load occasionally without tweaking.
Despite the niggles above, the technology overall is fantastic and trading is efficient and cheap from security of large Dutch Bank. Massive amounts of daily reviews and strategies covering all markets very good to learn from. Never any real need to use support but you need to be technologically savvy to get the most of it.

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aliasfx

Casual Trader

I wish they could make a few changes

7/24/2009

0 of 0 customers found this helpful (0%)

Pros:: None
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: I wish they could make a few changes in their platform. Itâ€™s a bit hard to use. I spent a couple of hours just trying to figure out how things function on their workspace. One time, I was actually forced to contact their customer service just to ask what I thought were simple questions. Expecting to hear some snide comments or snickers in the background (I honestly think I deserved to get a rude treatment asking such basic questions); I got pleasantly surprised when they were all addressed by this polite and professional customer service representative. So even though their platform isnâ€™t as user-friendly as it should be, I decided to stay with them mainly because I got deeply impressed with their nice staff. Rude people are the hardest to deal with.

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Aaron

Casual Trader

Poor customer service

4/4/2009

8 of 8 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: No, I would not recommend this to a friend
Quote:: Saxo's customer service is very bad. They never reply to any of my emails.

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Alfred

Intermediate Trader

In my 2 years of trading with Saxo Bank

4/4/2009

3 of 3 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: In my 2 years of trading with Saxo Bank, I never encountered even a small problem. From their platform to their customer support; it had been a great trading experience. Their customer service is helpful and friendly. Spreads are pretty fair. What else can I ask for? So Iâ€™m stuck with Saxo Bankâ€”for life, it seems.

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hjckzon

Casual Trader

It took me for about 2 months before I learned using their platform properly.

4/4/2009

2 of 2 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: My big mistake was when I opened a live account without even trying their demo account first. It didnâ€™t give me time to test their platform. I was a newbie then, and it was not easy navigating their platform. I lost in my first few trades and it was frustrating. It took me about 2 months before I learned how to use their platform properly. And even then, I would still lose some and win someâ€¦ it was just break even. Saxo Bank had helped me in some ways, so I would still give them a 4-star rating.

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andystock

Casual Trader

Great platform

4/4/2009

3 of 3 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: Been trading with them for a year now. Excellent platform, the best I've tried, and I've tried many. Takes some getting used to but once you do it's very good to use.

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quatro

Casual Trader

Nightmare with this broker

4/4/2009

4 of 4 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: No, I would not recommend this to a friend
Quote:: There is something wrong with their platform, seems that their service is going down. I experienced several problems and delays with transferring and crediting funds. Nightmare!

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