Trade more than 180 currency pairs and choose pricing terms to suit you when you open a forex trading account with Saxo Capital Markets.
Saxo Capital Markets allows you to trade 182 currency crosses, including a broad range of major, minor and exotic pairs. You can see a full list of the currency pairs available on the Saxo Capital Markets website.
What trading levels are available with Saxo Capital Markets
There are three different service levels available with Saxo Capital Markets, and your level is determined based on your account balance. The differences between Classic, Premium and Platinum service levels are shown in the table below.
|Minimum account balance||$10,000||$100,000||$500,000|
|Access to all platforms||Yes||Yes||Yes|
|24/5 customer service||Yes||Yes||Yes|
|Free extended news and research||No||Yes||Yes|
|24/5 dedicated account executive service||No||Yes||Yes|
|Preferred customer service||No||No||Yes|
You can also choose from two types of trading account with Saxo Capital Markets: an FX All-Inclusive Price Plan or an FX Volume Price Plan. The All-Inclusive Price Plan is designed to provide a simple pricing structure, with less variability in spreads and no monthly commission charged. There is also no additional commission based on the number of trades you make.
Meanwhile, FX Volume Price Plans are designed for higher-volume traders, providing spreads as tight as 0.2 pips. There are three price plans available, each with the same spreads, and the commission charged depends on the price plan you choose.
The commissions of the three price plans – FX 60, FX 30 AND FX 20 – are shown in the table below.
|FX 60||US$60 per million US$ traded with no minimum monthly commission|
|FX 30||US$30 per million US$ traded with US$600 minimum monthly commission|
|FX 20||US$20 per million US$ traded with US$2,000 minimum monthly commission|
What trading platforms are available?
Saxo Capital Markets offers two trading platforms: SaxoTraderGO and SaxoTrader. Check the table below for a comparison of the features and functionality each platform offers.
|What is it?||A multi-asset trading platform accessible across a range of devices||An advanced professional trading platform|
|How is it accessed?||Any HTML5 web browser on your PC, Mac, or Android or iOS smartphone or tablet||Downloadable Windows software|
|Trading workspace||Simple fixed layout||Advanced multi-screen layout|
|Suitable for||Investors and traders||Advanced traders|
|Charting||HTML5 charting on all devices||Advanced charting|
Features look-up table
|Spread fee – AUD/USD||0.7 (FX Volume Price Plan average spread across past month as at 6/3/17)|
|Education and resources|
|Does it offer fixed spreads?||Yes|
|Is it MetaTrader supported?||No|
|Minimum deposit required||$10,000|
|Compatible devices||PC, Mac, Android, iOS|
|Promotional bonus||$0 commission on your first day of trading when you open a SaxoTrader account|
|Demo account available?||Yes|
What are the benefits of using Saxo Capital Markets?
- Choose the pricing terms that suit you
- Take control of your trading by setting your price tolerance
- Access sophisticated risk management tools to monitor your exposure
- Take advantage of a wide range of order types to suit your trading needs
- Trade many other financial instruments from the same account, including stocks, CFDs and futures
What are the pros and cons of using the provider?
- Trading opportunities. Saxo Capital Markets allows you to trade more than 180 currency crosses, providing access to a wide range of trading opportunities.
- Easy access. With two platforms available, it’s easy to access your Saxo Capital Markets account from your PC, Mac, or iOS or Android device.
- Choose your own pricing. Whether you opt for the simplicity of an FX All-Inclusive Price Plan or the customisation provided by an FX Volume Price Plan, you can tailor your account to suit your needs.
- Support and education. Saxo Capital Markets provides an extensive online support centre and a host of educational resources to help improve your trading knowledge.
- Experienced traders. Saxo Capital Markets accounts are better suited to experienced traders than casual investors, so this provider may not be suitable for you.
- Lower leverage. The maximum leverage of 100:1 is lower than that offered by some other forex providers.
How do I sign up?
It’s quick and easy to apply for an account via the Saxo Capital Markets website. Simply fill out the online form with your name, date of birth and contact details, select the type of account you want, and provide the requested proof of ID.
If you’d prefer to find out more about Saxo Capital Markets’ features and platforms before signing up, you can open a free demo account for up to 20 days. You can apply online in three easy steps and then practise trading with a simulated balance of US$100,000.