Saxo offers forex traders spreads from as low as 0.2 pips and access to 182 currency pairs.
If you’re searching for an online forex trading platform that offers easy access to a broad range of currency pairs and competitive pricing, Saxo Capital Markets is definitely worth a closer look. When you sign up for a Saxo Trader account, you can buy and sell 182 currency crosses on global forex markets, including an extensive range of majors, minors and exotic pairs.
You can also select the pricing structure that best suits your trading needs. You can opt to have commissions included in the spread through an FX All-Inclusive Price Plan, or opt for an FX Volume Price Plan that offers tighter spreads and commissions based on the amount you trade.
Saxo also allows traders to take long or short positions in shares, indices, commodities and forex with CFDs. 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.
What are the features of Saxo Capital Markets' forex and CFD trading?
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. Saxo publishes its FX order execution statistics on its website.
Two trading platforms
You can access global forex markets through two trading platforms: Saxo Trader and SaxoTraderGO. Saxo Trader is a downloadable Windows platform designed for advanced traders, while SaxoTraderGo is designed for both investors and traders and works in any HTML5 web browser.
Your choice of pricing structure
Saxo Capital Markets allows you to choose a pricing plan that best suits your 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.
Order types
Saxo clients can use the following order types: stop limit, resting limit (Day Order, Good till Date and Good till Cancelled), Immediate or Cancel, market, stop and trailing stop.
Compatible devices
With two platforms available, Saxo Capital Markets allows you to trade from your PC or Mac, or from your Android or iOS smartphone or tablet.
Spreads
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.
Leverage
Saxo Capital Markets offers maximum leverage of 100:1.
Minimum deposit
The minimum deposit to start trading forex with Saxo Capital Markets is $3,000.
Regulated in Australia
Saxo Capital Markets is regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services Licence.
Payment methods available
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.
Promotional bonus
When you sign up for a Saxo account, you will be eligible for up to AUD $500 in commission rebates. Plus receive $250 trading credit on your account for each friend you refer.
What support is available with Saxo Capital Markets?
Saxo Capital Markets offers 24/5 customer support so you can access help whenever you need it. Phone, email and live chat options are available, while there’s also an extensive support centre featuring a wide range of frequently asked questions and their answers.
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 the pros and cons of using Saxo Capital Markets forex trading?
Pros
- 180+ currency crosses. With the ability to trade more than 180 currency pairs, including a broad range of majors, minors and exotics, Saxo Capital Markets allows you to take advantage of a huge number of trading opportunities.
- 24/5 customer support. 24-hour customer support means that you are able to access assistance quickly and easily at all times.
- Educational resources. Access free actionable trade signals, equity research on 18,000 shares and charts with 40+ indicators. 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.
- Easy access. Saxo Capital Markets supports trading across a wide range of platforms, including iOS and Android smartphones and tablets.
Cons
- No MetaTrader. Saxo Capital Markets does not support MetaTrader, the world’s most popular trading platform.
How do I apply for an account with Saxo Capital Markets?
If you’d like to open a trading account with Saxo Capital Markets, click on the “Apply now” link at the top of 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.
