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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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My Saxo Bank story: ~ 90.000$ loss after a blink The link for my story on Youtube: https://www.youtube.com/watch?v=CFgxe9HIBfA
Won't go into the quality of the broker because I only had a small account with them, but at least they're legit! I've put in a wire withdrawal request and had the money in my bank account within a week more than can be said for a lot of so called FX brokers out there.
Saxotrader could be a cool platform - it is were not for those obnoxious DISCONNECTIONS. You can easly get disconnected up to 10 x per hour - which is what happens to me - in a trading hour. Even though I have 9MB download and 2MB upload line. I tend my internet speed when I get disconnection, and my speed is mega fast, yet the Saxotrader plaform disconnects - again. There support email plenty of "tricks" or options such as changing connection from AUTO to TCP or HTTPS but all of this is a complete waste of time. I would like to hear from other users who suffer the same issue - very frequent disconnections, very slow popups when cancelling orders (half of the time empty with no text), very slow order delivery to their servers. If it were not for those major acceptable issues, I would recommend them 100%. Very transparent and honest in my opinion, but Saxotrader platform too slow and buggy. I would recommend they produced a "fast", "lightweight" platform without all the gimmicks that sends orders FAST to the server and they should increase server speed on their side. Pity, could be perfect, but disconnection makes it a nightmare.
Customer service sox! they dont even bother to reply. sent first email and they said this is wrong department, contact the other " EMAIL " , sent 2 email to "OTHER EMAIL" and oh yea ! SURPRISE SURPRISE ! NO ONE BOTHERED TO ANSWER MY SIMPLE QUESTION !
I have been with SAXO since August 2013. I invest mainly in stocks. 8 times of 10 when I buy a stock I got them lower than my buy order = I saved money. So this means that they ARE honest! My experience with their support is very good. My account manager always get back within hour and give good advice/ explanation etc. Just started to learn Forex trading in their system, can't say if they are cheating or not but since they have a 8PIP spread I dont see why they would cheat as they make tons of money on this high spread. Conclusion for me is that they are very good and I trust them. Maby little expensive on the spread but thats it. You get what you pay for. Many "low spread" have many hidden costs, I prefer a trader who is transparent with costs as Saxo Bank. I have mixed result on the forex BUT thats only because of me doing wrong choices.