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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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If you are smart stay away. These guys will steal your money. Watch out for these BASTARDS. In Canada they disguise as TRADEFREEDOM FX. During news reports very hard to get into a trade, and then when you are in they sometimes won't let you out. One time I clicked on buy and they put me down instantly 30 pips. Don't be like me and lose alot of money before you learn the truth. GOD BLESS
Good platform - shame about the service sometimes - also try and get you with the conversions sometimes - not very transparent! Knowledge not brilliant- try asking them to exlain a delta hedge on the Forex options or even a forward sometimes - sell the things but not much of an idea of how they work etc.
If you want to trade news, forget about it. They will steal the money out our account, they will change your opening price even after a few hours. Last time with them, I have opened position using the SNW and kept it open for 6 hours afterwards. Then I closed it with a nice profit. 10 minutes after closing my position, I have noticed that they have changed my opening price and instead of being in profit I was minus a few hundreds.
I made some money with them. Thank you Saxo. until now. Today i got email and they stole me money from my account. They said that my trading style is abusive. and they corrected my entries 45 pips out of real price. They are bucket shop like others. They just play game on people how good they are.
Saxobank has been good for me since I am not basically a news trader. I have never had any complaints against their execution and the spreads are not that bad considering the commissions that you pay to other brokers who offer tighter spreads. Never had any trouble withdrawing money from them so far. The only complaint I have against them is that almost always you get negative slippage on stop orders, so I have been using mental stops. My account size is < 100K with them as I believe in diversification.