Saxo Bank is making a strong presence as both a wholesale and as a retail forex broker with a number of trading platforms including three retail private trader platforms and additionally with an extension of operations to brokers, forex institutions and trading partners. At this current point in time Saxo Bank Maintains a strong position as a retail broker with a large range of offerings allowing traders to trade stocks and futures in addition to currencies with opportunities for demo accounts which new traders can take advantage of to maximize the trading experience. Real money accounts at Saxo Bank come in a number of options ranging from the Saxo Mini Trader the Saxo Trader and the Sax Web Trader which is ideal for traders on the go. Mini accounts start at $2,000 and go up to $25,000 but may have limitations in terms of features and currency pairs which are features unlocked on Saxo Trader which offers 160 currency pairs and a range of commodities which are also offered for online trading.
The trading platform offered by Saxo Bank comes in a download format which ranges in terms of size according to the variation selected with the Saxo Mini Trader starting at 8MB in size and the Saxo Trader going up to 22MB with both interfaces running smoothly and offering features which are relatively easy to get acquainted with, in addition to the additional help from the online tutorials which are available within the traders area. Mini Trader accounts spreads start at 2 pips and they are individually determined based on market conditions which are available within the live price quotes which traders can use on their desktop. Charts and graphs are available but they have been commented to be annoying as their blinking features can be disrupting to concentration during trade as charts open as pop ups which has been oftenly viewed as a loss to the overall features of the Saxo Bank trading platform.
The more developed account type offered at Saxo Bank which is most appropriate for more experienced traders will allow trades in a total of 160 crosses , options, stock trading, CFD’s and metals with enhanced features in terms of stop loss orders, limit entry and spot forward entry with sub accounts additionally also allowed. It is worth mentioning that the Saxo Trader has been awarded awrds on numerous occasions for its innovative offerings and its high standard customer service. Saxo Bank is licensed and operated in Denmark which explains the long registration form and the legal disclosures that a new user will come across during sign up; overall, Saxo Bank is a fully recommended online forex broker which is a perfect choice for beginner traders.