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Saxo Capital Markets/Saxobank

  • #1
  • First Post: Apr 21, 2007 5:46am Apr 21, 2007 5:46am
Hi,

I'd like to ask about Saxo Capital Markets Pte Ltd, a forex (and CFDs) broker licensed and regulated by MAS in Singapore and a branch of Saxobank in Europe. Has anyone tried a live acc with them yet, and how is it?
I've tried its demo (SaxoTrader platform), and for forex they use a live price feed from their HQ server in Denmark. I'd like to know whether there are problems with slippages, re-quotes, and the spreads during heavy news time with Saxobank live acc.
Planning to move to Singapore broker here.
Thanks in advance.
Tra-X
  • #2
  • Apr 24, 2007 10:41am Apr 24, 2007 10:41am
I guess nobody uses Saxobank here lol. Oh well.
Tra-X
  • #3
  • Apr 24, 2007 10:50am Apr 24, 2007 10:50am
I don't recommend them, I'm live with them and about to close.
I don't use them much for forex, more to index tracking, they have freeze 'problems' most...

I recomend one that uses metatrader, at least the platform is way better.
  • #4
  • Jun 2, 2007 7:30pm Jun 2, 2007 7:30pm
As far as I know, they don't like people trading the news. So if you plan to trade right at the time of news avoid them at any cost.
  • #5
  • Sep 19, 2007 8:47pm Sep 19, 2007 8:47pm
I'm with Saxo but i don't recommend. There are many mini-fx in sgp now. I've got no problems with slippages, re-quotes, and the spreads.

Hate their rollovers. has anyone any idea of MT4 brokers in singapore or anywhere near this region, Asia. No Singapore is not a part of Australia.

My wifes colleague in UK thinks that Australia and Singapore office can share a printer, lmao. How'd he get a job...

Back to this topic, MT4 rocks, anyone trading around this region has a good platform to recom? I'm sick of TT charges to and fro US.

Thanks, happy pipping!
Still waters run deep
  • #6
  • Sep 19, 2007 11:56pm Sep 19, 2007 11:56pm
I am with Saxo
They have this thing called dealer chat.
It is more of a P.R. of all the trades they are taking.
So every half hour they take some kind of trade
for what ever reason... somehow it lules you also into taking a trade every half hour... good bad .??
Leverage doubles over the weekend.
Your account is insured up to 20 000 Euros
or something like that.
  • #7
  • Nov 14, 2007 10:30am Nov 14, 2007 10:30am
I would like to comment one sad issue I had with Saxobank,They issued a requote 8 hours after the fact,the trade was closed and confirmed 8 hours before their PHONE CALL asking me to accept the requote or else they will nullify the trade,since their requote(35 points in Spanish index Ibex) was only for 70 Euros,after haggling with them I accepted,but I feel scammed by them..what do you think?Should I pursue the issue legally?After their requote,instead of winning 415 Euros I won 345,but I feel like they took advantage of me
  • #8
  • Nov 14, 2007 12:01pm Nov 14, 2007 12:01pm
no...instead witdraw 400 EUR ...and trade with less,...thats what i do,..if i think i was robbed,..but u must take in knowledge that they provide liqudity,..so u can be pleased with 345 euros...imagine u were a broker and evrybody wouldbe wining,...how could u pay them,..u would gone broke imo.
its just money
  • #9
  • Nov 14, 2007 6:35pm Nov 14, 2007 6:35pm
Yes, I have an account with them. I only use them for obscure carry pairs though. They are good for those.
  • #10
  • Feb 20, 2008 12:55am Feb 20, 2008 12:55am
Anyone know the which Singapore local broker using MT4 platform,

I am currently using saxo bank platform.
  • #11
  • Mar 22, 2009 9:10am Mar 22, 2009 9:10am
I have been using them for a while, and recently started using CMC. I find that Saxo charts and quotes tend to whip around a lot compared with CMC which is a lot more stable. I am not sure if this is due to the lack of liquidity with Saxo or whether there is some guy in their office just whipping things around to take out stops. Also, when things get hairy, Saxo's slippage starts to really widen, eg if you chart based on the bid and are looking to go long on a certain bid price, when you enter at market you might find you enter at the ask which suddenly whips up way above where you wanted to enter.

I was always wondering why my chart didnt look as bad as the losses I incurred, maybe this is why. Maybe it's just my bad trading but I'll know once I have used CMC for a while longer.

BTW I had this really crazy account manager at Saxo who couldnt take criticism and... never mind. More on that another time...
"Stay Sharp and Keep Learning!" - VM
  • #12
  • Mar 22, 2009 6:11pm Mar 22, 2009 6:11pm
Kindly note that Saxobank provides Guarantee Fund for Depositors and Investors (approximately EUR40,000).
I couldn't find any other broker that could provide such guarantee for customers deposites...
  • #13
  • Mar 22, 2009 8:09pm Mar 22, 2009 8:09pm
I am based in Singapore, I have tried Saxo platform and find that their live quote is extremely slower than the other. Take a compare with other broker using MT4 and you will see the scarely things.

In addition, they claim that their platform are those award winning software which i think is Bull XXXX. Thier platform is not user friendly and always hangs. Worse of all, their platform cannot change indicators, they have their own indicators.

Let me know if someone find them good. Thanks.
  • #14
  • Mar 23, 2009 3:16am Mar 23, 2009 3:16am
Quoting yyc196
I am based in Singapore, I have tried Saxo platform and find that their live quote is extremely slower than the other. Take a compare with other broker using MT4 and you will see the scarely things.

In addition, they claim that their platform are those award winning software which i think is Bull XXXX. Thier platform is not user friendly and always hangs. Worse of all, their platform cannot change indicators, they have their own indicators.

Let me know if someone find them good. Thanks.
I have to agree with the bit on charts being slow. I am not so sure about indicators cos I don't use that many anyway. I have had many issues with their charts, but some have been ironed out. The worst thing has been the charts lagging the quotes... so you look at the charts and think that nothing has happened till you notice to your horror the quote has already moved 20 pips or something like that.
"Stay Sharp and Keep Learning!" - VM
  • #15
  • Mar 23, 2009 3:17am Mar 23, 2009 3:17am
Quoting Al_fares
Kindly note that Saxobank provides Guarantee Fund for Depositors and Investors (approximately EUR40,000).
I couldn't find any other broker that could provide such guarantee for customers deposites...
You sound like you might work for Saxobank. Do you?
"Stay Sharp and Keep Learning!" - VM
  • #16
  • Mar 25, 2009 7:40pm Mar 25, 2009 7:40pm
I've been using their PC java platform (saxo trader) for stocks and CFD's, because they seemed to offer better commissions than other companies, but never actually tried FX with them. Thank god i read this thread, now i know i won't be trying FX with them anytime soon...
  • #17
  • Mar 26, 2009 12:22pm Mar 26, 2009 12:22pm
Quoting volatilemonk
The worst thing has been the charts lagging the quotes... so you look at the charts and think that nothing has happened till you notice to your horror the quote has already moved 20 pips or something like that.
As far as I know they get quotes for charts and for forex board from two different servers.
  • #18
  • Mar 27, 2009 3:33am Mar 27, 2009 3:33am
Ok, let me state here that my opinions are my own. Everyone should test this out for themselves if they are really interested, and can do so on their demo platform which I believe you can access for free.

Quoting tarasbaida
As far as I know they get quotes for charts and for forex board from two different servers.
"Stay Sharp and Keep Learning!" - VM
  • #19
  • Mar 28, 2009 7:53pm Mar 28, 2009 7:53pm
Hi there, could we have your opinion on TradeCommander, it's an automatic trading platform with backtest and optimisation feature. I started to use it last year on a demo account. Now they've added almost all the features I've requested. It sounds a good platform but I would like other views.

It seems to be free of charge.

See http://forum.tradecommander.com/ and http://www.tradecommander.com/

Your feedback would be welcome.

Kaikoura
  • #20
  • Apr 10, 2009 3:06am Apr 10, 2009 3:06am
I personally feel that igmarkets is the best. In time of volatility there seems to be no slipage.
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