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Saxo is a foreign exchange broker. SaxoBank provides SaxotraderGO and SaxoTraderPRO foreign exchange trading platforms. Home.Saxo provides more than 165 foreign exchange currency pairs, stocks, cfds, commodities, futures, bonds, gold, silver and oil for your personal investment and trading options.
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Horrendus problems with the Saxo Web Trader platform. I'm getting a rejection rate of about 90% on trying to hit market prices especially when trying to exit positions. Enterting orders is difficult and then service off chat is minimal, arrogant and full of attitude. You will never see any sort of refund off these guys but a rabid defense and constant inference that it is your fault. Order prices reset themselves, seen prices trade through a couple of times before an order fills, latency so bad I managed to end as short as I was long because I assumed when I had tried to close a position that the order hadn't filled becasue nothing popped up to get two notifications 20 seconds later. Looks great but I am afraid that is about it. I don't mind them making money but they resent you making money and will charge for absolutely everything they possibly can.. I am in the process of moving the FX part of my business to another broker.
One of the best platforms out there... you guys have to keep in mind that this is a direct feed to markets... it's not like those brokers that play against you... This is a serious bank, of course spreads can get high, spreads are made by the market... The other day EURUSD spreads went up to 25 pips when lots of volatility were around... The only con I give them is their platform still not being able to accept custom indicators, and formulas... other than that... very good. I trade with 500K + and no way I'd deposit this kind of money in brokers like Alpari or Fxpro or anything...
Very high spreads! It hard to get the orders filled. I would not recomend them. Now I am trading with Activtrades (London) and I am realy happy with them.
Very high spreads, if you is looking for small profits so they will eat all your profits.
Have used Saxo for over a year. Started as a complete beginner to FX trading so it took abit to get my head around their platform but once I'd done that I found it very very easy. I've not really had any issues with it, it only asks to be updated about once a fortnight. I don't experiance delays in the charting at all. Customer service-wise they've been excellent. I get about 6 email forwards per day from my account manager which are all the analysis papers & trade recommendations done by the major european banks (useful to see what everyone else is doing & thinking). Money has never been a problem either as it seems to have been for others. Deposits appear instantly (literally) & withdrawls take 2 minutes to request & 2 days. I'd recommend them without hesitation.