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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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I used Saxo for almost a year. right, the stop loss price never hit and would lost money, plus three times it started up it's own buy a commodity automatically at unearthly hours of 5am!!!! and another time when there was no one home to place the 'buy'! When i complained they said someone had done it from our computer and they could do nothing about it! We lost about 3000 us like that! Very risky/dangerous.
For 4 years I was a customer of them and i had a good performance; any day they sent an email saying my account was closed, they closed all my positions causing loss big for me and not I gave reasons for closing the account.
They are a very dangerous tool, I have used for example DBFX it asked me double and triple time, if I really want to do a certain action, with Saxo, I mistakefully just wanted to find a reate and boom, trading started, nobody could take me out of it, lost 1000USD in 10 minutes, looking sadly on the screen, and having their control room not really cooperative, I've complaied, got nothing.
Saxo Bank's license is under threat following a Portuguese client's lawsuit http://forexmagnates.com/saxo-banks-license-is-under-threat-following-a-portuguese-clients-lawsuit/
I've been FX-trading with Saxo for five years now and never, i repeat, never experienced any kind of problems with them. For the US they offer only FX because of regulations but they are pretty competitive with other US brokers. Their trading platform is superior to MT4 and to the prop platforms of the other brokers. (Compared to FXCM, Oanda, FXDD, Ikon-royal, Fx-sol and DB) So, first one should look at her/himself to find the mistake with her/his own strategy, trade idea etc, and not to blame on the trading platform or on the account manager.