Your experience with SaxoBank

Today I decided to share with you about my initial experience with SaxoBank, and recount a conversation with a personal manager of the company by the phone.

Prehistory: about a month ago, I was pissed off by my broker and I decided to choose the other one.
For myself, I have selected three foreign brokers: FXDD, FXCM and SaxoBank.
Friends advised to work at Saxo (and also good reviews I've read on rankcup or earn), pleasant conditions, suitable initial deposit, regulation, etc.
I do not need any special attitude to me, just good service.

FXDD has 3 platform including MT4. FXCM offers good FXCM Tradestation. Among the drawbacks of tradestation can allocate stupid chart built in Java, so I have to use the MT for "stalking". And here is SaxoTrader2, solid machine, it has all necessary tools for me, personally: banking system of orders installation, meaning buy+Stop+limit - not one, but three separate orders, but intuitively clear, we can immediately find out what's what.
End of prehistory.

In short, yesterday began to install updates: one, then second, finally at the end st2 just died. I was very upset that I just took and began to call them on the phone, which I found on their website. To my surprise the young woman almost immediately replied to me, and in my native language I started to ask her about the problems, I naturally shared with her. I immediately offered to talk with a specialist ST2, who described me how can correct errors BY MYSELF. Or simply download and install platform again, and tomorrow they called me and asked how things work, how I feel.
Want to dig into someone else's code? So I don't want to.
The next day:
I quietly installed the latest st2, stood gently on euro and tried to relax - drinking beer and eating fish. Oh yeah! I forgot to write that in the morning I received a letter with apology and that I got a personal manager. I have a DEMO account - still at that time. I was surprised - not bad, and forgot at once. After the second mug of unfiltered dark - call on mobile. I do not care, I am resting, I'm not here. After 15 minutes, the same number, another call. Enough! who is such persistent?
I picked up the phone and sit on my ass - it was that girl, my personal manager, wondered how was the installation...! I told that everything is fine, but the chart and news nicht arbeiten. She's right there, not hanging the phone, consulting with spices and says that there are no problems, we will send you a letter and you will see the solution in details. After some time I got a letter, my love to Java remained the same, but it helped to solve the problem.
I'm still shocked.
After this, I decide for myself to open account at Saxo, they do not get rich on my $ 2,000, but even if (as they told me) I can come the market on news with live streaming prices, then I do not care at all.
"It's not about trust, I'm just cautious ...."

I ask only REAL traders who had experience with Saxo - what can you tell me about trade?

Saxobank is too expensive 4 me but such support is not realy suprising, every large compamy provides it. My too If there is no any secret, what were your previous companies?

It's not a secret: ironfx, nords, fxpro for example. but such serious support on demo-acc - don't think that your company provides it

you said your equity about 25000$ i think u r a big lier saxobank is pip same as u ​

my equity is bigger than Roman Abramovich's yacht. but this is another story...
well at least fxpro has to provide similar conditions?

Hello, VatslavFX

I've see you in this topic, so I want you to help with my experience of work with Saxo.
I have been working there for 1 year. Good execution, uncomfortable platform, VERY BIG SPREADS, really big. Every sharp movement - and you have a new spread, bigger than previous one in 2-3 times, and then you see unactive buttons in platform (sand color).
Several times I had not bad profits on news: I set 2 stop-orders in both sides in 30pips before news (if you put less than 30 - orders could not be executed on claimed price).
For 3-4 times everything was good, after that my fishing was finished. As I think they turned on a plugin, which expand spread on 100pips and knocking off my stops, but you won't see this on graph. So in next news my depo was lost... Pay attention that there weren't such quotes on market! Also SUCKso may expand spreads on 100pips before end of session in friday evening.
If you're going to trade there - you may use medium-term trade. But remember what I wrote

Saxo is an ideal broker for rich clients with huge amounts of money. Only large investor or big forex trader can go there. If you're usual trader, who work with simple Dealing Centre, you can't afford it. They are prefer to work with real clients only, so you have to open account and sign docs in their Bank's filial. Very high commissions, spreads and so on. solid and respectable broker - serious attitude to the customer, and a written contract.

http://brontecapital.blogspot.com/20...bank-down.html

http://www.forexscamalerts.com/saxo-...ded-danish-fsa

I know a lot of commercial websites with untue info, fake reviews and fraud awards, which brokers give to themselves... I have no doubts that saxo is big and wellknown company but nevertheless

Hello 2all,
My aim is long-term investments in ETF and mutual funds with foreign companies. Especially interested in ETF. Horizons for Investments are about 3-5 years. Many thanks to your essentially answers!

Thank you very much to all, especially to Hakan and Dimitar.
Now I'm trying to verify my documents, as already wrote here. very exhausted process...

http://www.bloomberg.com/news/articl...k-s-management

High currency spreads, large commissions on futures and stocks. significantly higher than competitors.
For example: I trade with another broker, where commission on Nyse is 1 cent, saxobank has four times as much. But the worst - there is a minimum fee per transaction and it is big. It doesn't allow open transactions with small and medium volumes, that it was profitable. Thus: terms of trade, with the same Nyse, worse than competitors in 10 times.

Hi there,

Interesting experience. I personnaly have a Saxo account since one year.
But I thought the minimum was 10K, am I wrong ?
It's obviously a solid broker, that's why I choose them. It's ok if you are a swing or long term trader, but the spreads are too high if you want to scalp or day trade.

By the way, does anyone know if there's a way to use an expert advisor with the Saxo trader, since they don't developp the SaxoMT4 anymore ?
By using a VPS maybe ?

if you open a 100,000 unit position on EURUSD, Saxo takes you $7.08. When you close this position, Saxo still takes you another $7.08. That means you have to pay $14.16 for a 100,000 unit position. Very expensive!