Saxo Bank Review – 5 Things that You Should Know Before Joining

Stocks, securities, mutual funds, and other investments products have been used by wealthy investors for more than 100 years. Today, thanks to modern technology, these global markets, mutual funds, and securities are open to a whole new generation of investors.

The Internet and advanced smartphone technologies make it easier for beginners and casual investors to get started with investing like the big boys. Thanks to online brokerage firms like Saxo Bank, investors can get started with a relatively small amount of money and turn it into a nice pile of cash.

For this article, we came up with some very important information about Saxo Bank that we think you should know before you lay down your hard-earned money. We hope that we gave enough information to make an informed decision.

5 Things that You Should Know About Saxo Bank Before Becoming a Member

  1. Saxo Bank is an investment that specializes in online trading – In 1992, Saxo Bank was founded as a Danish brokerage company, it later became a full-fledged banking institution in 2001. The new company offers its members and customers both banking and investing services. Its headquarters are located in Copenhagen and it also has several subsidiary banks under its umbrella that allows it to be a global provider of investment services.
  2. Accounts are available most everywhere – Saxo Bank has made it easy for new members to get started. Everything is digital and only takes a few minutes to get started. Unfortunately, not all countries are allowed to become a member. They do not allow people residing in the US to open an account. Since they require several forms of verification, you will not be able to sign up if you have a tax id and legal address inside the US.
  3. Saxo Bank offers three powerful trading platforms – To better serve the needs of all of its account holders, Saxo Bank has several powerful trading platforms including, a desktop, mobile app, and web-based portal. Each one gives you a powerful and easy-to-use dashboard. This puts all of your account data at your fingertips, no matter where you are, and have Internet access. Saxo Bank developed its proprietary Saxo TraderGo (web-based portal) and Saxo TraderPor is its desktop trading application.
  4. Saxo Bank gives its members access to a wide range of trading products – Unlike many of the other European-based online brokerage firms that limit what types of investment products they offer. Saxo Bank offers its members full access to most, if not all of the most popular forms of investing. You can choose from any of the following; stocks, ETFs, Forex, funds, bonds, options, futures, CFDs, and cryptocurrencies.
  5. Saxo Bank Rewards Program – Saxo Bank created a proprietary rewards program for its, high-end members. They offer points for certain types and amounts of trades that are made. Depending on how many points you accumulate you can qualify for account upgrades.

Pros and Cons

Pros of using Saxo Bank for investing

  • Setting up an account is very easy, as it is done digitally
  • Developed its powerful research tools
  • The mobile trading app is available for both Apple iOS devices and Android-enabled devices

Cons of using Saxo Bank for investing

  • Does not offer commission-free trading
  • Not open to US residence
  • Does not accept electronic wallets for deposits or withdrawals
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