Saxo Trade is a Danish investment bank that has a pretty long and astounding track record of over 25 years. How does one manage to sustain on the market for so long? For me, the numbers are quite encouraging, so I decided that Saxo Trade is definitely a brand I shouldn’t overlook.
The company is regulated by some of the strongest financial organizations in the industry, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). Now, let me just point out one thing - not a lot of brands can take pride in satisfying such strong demands that these two regulatory bodies require!
Also, another important thing to note is that Saxo Trade takes special care of their clients and their needs. No matter if you are a first timer or have some previous knowledge and experience, Saxo Trade seems to have a perfect formula to capture your full attention. And while having a good hunch is a pretty amazing quality, having someone to rely on in guiding you is even bigger deal. Saxo Trade seems to be aware of that, and knows how to capitalize on it.
Platform and Execution SCORE: 90%
Saxo Trade has earned quite a few praises over the past two decades mainly because of its highly-functioning and advanced trading platform. And in all honesty - I couldn’t find anything wrong about it myself.
The information is displayed clearly with regular updates, and it’s pretty convenient to scroll between different markets depending on the asset you want to check out. One thing that I must emphasize is that Saxo Trade offers the most extensive list of languages that I have ever seen. You can just see that this broker aims to be welcoming and inviting to clients around the world.
Withdrawal Speed SCORE: 61%
One of the main things that immediately pop is the fact that Saxo Trade takes quite a while to process trades, especially when it comes to withdrawals. Now, I can understand that to an extent, since they have so many clients, but come on! Step it up, Saxo Trade!
Next, the good thing about this part of the website is that you can place many different orders - from stop limit to OCO and even GTC! Still, for each payment option, there are some details that defer when it comes to the withdrawal speed, so this can be off-putting to some traders.
Support and Assistance SCORE: 47%
The customer support team of Saxo Trade is quite average. They have a solid live chat option as well as the e-mail, but they are not available 24/7 which is a huge shame for such a big name.
Still, my experience was quite enjoyable - I contacted them and their agent replied soon after, with relevant information for me. And if you happen to need immediate assistance outside of Saxo Trade working hours - the Frequently Asked Questions option might be the only thing left for you.
Education and Tools SCORE: 78%
As you would expect from such an established brand, Saxo Trade has quite an extensive educational section. From charts and graphs to regularly updated market and financial news, there is something for everyone.
Furthermore, you can also dwell on some more advanced educational tools such as technical analysis. And let me tell you - this tool is pretty demanding and takes a lot of time, so be patient with yourself!