Saxo Capital Markets forex review: FX and CFD trading

Saxo Forex Trading (Classic Account)
Saxo Forex Trading (Classic Account)
Find out more Go to site

Saxo Capital Markets gives traders access to 35,000+ instruments via its award-winning trading platforms.

Saxo Capital Markets offers award-winning trading platforms featuring easy access to a huge range of forex currency pairs and share market CFDs. You can trade more than 35,000 instruments and choose between a number of trading platforms and account types, depending on how often you trade.

Saxo's point of difference when it comes to forex trading is the fact that they've focused on the SaxoTrader platform, rather than offering clients the popular MetaTrader 4 or cTrader platforms. A quality differentiator as the platform is rich in features, able to be accessed through all devices and actually much more flexible than MT4. Read on to learn what products you can trade with Saxo Capital Markets, the key features it offers traders and the different forex trading platforms available.

Updated December 19th, 2018
Name Product Minimum Opening Deposit Minimum Spreads for Major Currencies Commission Minimum Trade Size Platforms
AU$3,000
0.6 - 1.1 pips
$0
5,000 units
SaxoTrader
SaxoTraderGO

Compare up to 4 providers

Updated December 19th, 2018
Name Product Minimum Opening Deposit Major Trading Instruments Commission (ASX 200 Shares) Platforms
AUD$3,000
Indices, FX, Shares, Commodities, ETFs
0.10% with $6 minimum
SaxoTraderGo
SaxoTrader
More than 9,000 CFDs including single stocks, stock indices and commodities

Compare up to 4 providers

Disclaimer: Trading in financial instruments carries various risks, and you can lose more than your capital. This article may contain general advice. You should always seek professional advice when deciding if a product is right for you. 
 

Quick verdict

Good for
  • 35,000 instruments
  • Quality educational resources
  • Forex and CFDs in one platform
Not so great for
  • Forex trading carries risk

Who is Saxo Capital Markets?

Saxo Capital Markets is part of Saxo Bank Group, which was established in Denmark in 1992 and now offers its products and services to customers in more than 180 countries around the world.

This review focuses on forex and CFD markets, but if you're looking to invest in CHESS sponsored Australian shares, then click the link and check out our Saxo Capital Markets share trading review. If you choose to open an account with Saxo, you actually have access to a whole range of asset classes, all from the one convenient account login and through their award winning, proprietary trading platform, SaxoTraderPro.

What are the key features of Saxo Capital Markets forex and CFD trading?

There are a number of key features worth highlighting when it comes to making a decision on whether to trade forex and CFDs with Saxo Capital Markets.

35,000+ trading instruments

With a Saxo Capital Markets forex and CFD account, you're able to access more than 35,000 financial instruments across a range of asset classes. These include forex, bonds, CFDs and even equities. Thanks to Saxo's proprietary trading platform, you're able to trade forex and stock market CFDs side by side, all from the one screen. This is a key differentiator from MT4 only forex brokers.

Precise execution

Saxo Capital Markets offers fast and precise execution of all trades through an order-driven trading model, allowing you to take advantage of price movements as they occur. For further information on their execution stats, Saxo publishes its forex orders on their website.

Your choice of pricing structure

Depending on which account tier you've chosen, based on the size of your account, Saxo Capital Markets offers different pricing levels ranging from active trader prices, to VIP prices. Depending on your initial deposit, Saxo offers pricing plans that best suits your individual needs. The first option is an FX All-Inclusive Price Plan, which includes the commission in the spread. The second option is an FX Volume Price Plan, where there are three choices available based on the amount you trade per month.

Forex market analysis

Check out the domain, home.saxo. The new and improved forex market analysis hub from Saxo Capital Markets. You can access analysis and macro market news from Saxo's professional team of experts. Also included are analysis tools within the SaxoTrader trading platform, such as a selection of indicators and customisable charting options.

Regulated in Australia

Saxo Capital Markets is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence. If you're an Australian trader then you can feel confident that Saxo has met their regulatory requirements and that there is a course of action available if something goes wrong.

Go to site

What markets can I trade with Saxo Capital Markets?

A Saxo Capital Markets forex account gives you a plethora of choice when it comes to different markets available to trade, all from the one account. There are forex and share market CFDs, but also a range of indices, commodities and bonds all available.

  • Forex. 182 forex spot pairs, and 140 forwards.
  • Forex options. Trade more than 40 forex options.
  • Contracts for difference (CFDs). Trade more than 9,000 CFDs on products including stocks, ETFs, indices and commodities.
  • Indices. Stock market index trading from all over the world.
  • Commodities. Commodity markets such as gold, silver and oil.
  • Equities. More than 19,000 global shares and more than 3000 ETFs available.
  • Equity options. More than 1000 equity options available.
  • Futures. More than 200 futures across 23 global exchanges.
  • Bonds. access more than 5000 corporate and government bonds.

What trading platforms are available with Saxo Capital Markets?

Saxo offer two award-winning trading platforms. Forex traders can use one or the other, or a combination of the two.

  • SaxoTraderGO. This is the platform chosen by most traders and investors. Access news feeds, market data and economic releases, plus use live charting to make more informed trades. This user-friendly platform supports all products and asset classes, and is available on an PC, Mac, tablet or smartphone. You can easily switch between devices throughout the day without losing your settings and preferences.
  • SaxoTraderPRO. This is a more advanced platform designed for professional-grade traders, which supports up to six screens at once and can be used on either Windows or Mac. The platform featured advanced trading tools and technical analysis tools, and boasts super-fast execution functionality. The fully integrated charts allow traders to open, close and edit positions directly from the chart.

What account types are available with Saxo Capital Markets?

Saxo Capital Markets offers three different trading accounts, depending on your trading volume. It also offers an additional trading account, Saxo Essential, that is a limited-risk account where you are assured that you can't lose more than your initial deposit when trading on margin.

Saxo trading accounts

Classic PlatinumVIP
Minimum deposit AUD $3000AUD $50,000AUD $1,000,000
Account features
  • Integrated digital support
  • 24/5 expert service
  • Integrated digital support
  • 24/5 expert service
  • Private relationship manager
  • Integrated digital support
  • 24/5 expert service
  • Private relationship manager
  • Dedicated sales trader
  • Concierge club access (reserved for highest volume VIP clients)

Additional account

Saxo Essential is a limited-risk account, designed for new traders or traders who wish to lower their risk. Unlike the above trading accounts, your losses on margin trades cannot exceed the funds available in your Essential account. The Saxo Essential account also has a lower minimum opening balance of just AUD $1,000.

Leverage

Saxo Capital Markets offers maximum leverage of 100:1.

What customer support options are available with Saxo Capital Markets?

Saxo Capital Markets offers 24/5 customer support so you can access help 24 hours a day, five days a week. Phone, email and live chat options are available, while there's also an extensive support centre featuring answers to a wide range of frequently asked questions.

You can also access a number of educational resources to help further your trading knowledge and understand all the features of your account. As well as instructional guides, video tutorials and webinars, you can complete a number of free online trading courses through the Saxo Academy.

What are Saxo Capital Markets' spreads like?

Spreads on AUD/USD from a minimum 0.4 pips, average 0.8 pips, while EUR/USD has a tightly kept minimum of 0.2 pips and an average of 0.4 pips for its FX Volume-pricing plan clients.

CFD Active trading clients can access Indices at 0.4pts for the US 500, 1.4pts for AUS 200 and 0.9pts for the UK 100. CFDs on ASX listed shares are a minimum $8 for standard clients, and $5 for active traders.

What are the account funding options on a Saxo Capital Markets account?

You can deposit funds into your Saxo Capital Markets account via credit card, debit card or bank transfer. Saxo Capital Markets charge a transaction fee of 1.34% on credit cards and 0.93% on debit cards on transactions used to fund trading accounts.

What are the pros and cons of using Saxo Capital Markets forex trading?

Pros

  • 35,000 instruments. More than 35,000 instruments available to trade.
  • 24/5 customer support. 24-hour customer support means that you are able to access assistance quickly and easily when you need it.
  • Educational resources. Access free actionable trade signals, equity research and news and analysis. From video tutorials and webinars to the online courses offered by the Saxo Academy, Saxo Capital Markets provides plenty of tools to help increase your trading knowledge.
  • Supported on a range of devices. Saxo Capital Markets supports trading across a wide range of platforms, including iOS and Android smartphones and tablets.

Cons

  • No MetaTrader 4. Saxo Capital Markets does not support MetaTrader, the world’s most popular trading platform.

How do I open an account with Saxo Capital Markets?

If you'd like to open a trading account with Saxo Capital Markets, click on the 'go to site' buttons on this page. You'll be taken to the Saxo Capital Markets website where you can begin an online application.

To apply you will need to provide:

  • Your name
  • Your residential address
  • Your date of birth
  • Your contact details
  • Proof of ID
  • Your deposit details

A minimum deposit of $3,000 is required to start trading. However if you'd like to open the Saxo Essential account, a minimum of $1,000 applies.

Go to site

Saxo Capital Markets frequently asked questions?

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site