The website and trading platform provided by Saxo are both excellent. They have a trading signal tool, powered by third-party research company Autochartist. They also offer a news feed and economic calendar, but there is no option to filter these tools by assets. For additional news, you can go to the Saxo website, where you can view their Inspiration menu. In addition, they have a great stock screener, which lets you filter stocks by industry, country, financials, and more.
Customer service
If you have questions about trading or want to make a deposit, you can call the Saxo Trading customer support center. It offers a wealth of resources, including videos, articles, quizzes, and seminars. Saxo Trading also provides email support and out-of-hours support. However, you should know that Saxo Trading customer service is not free, and that you will have to pay for some of these services.
Read more to gain access to the Profit Builder App and engage in cryptocurrency trading.
You can fund your account through credit or debit card. The web-based platform is highly secure. To open a new account, you will need to provide vital documents, such as a copy of your passport or driver’s license. When you log in to your account, you’ll be taken through enhanced steps for security, including an IP address link. You’ll be able to contact customer service in English, Chinese, and Japanese.
Fees
The fees charged by Saxo Trading are not particularly high and can be offset by the fact that the broker offers good leverage for most traders. Leverage on CFDs is up to x40 and stocks and bonds held in account can be used as collateral. This helps traders manage risk and reduce the possibility of premature stop-outs. In addition, there are no cash withdrawal fees, which is another plus. While Saxo is not the cheapest broker, it isn’t the most expensive either, so it depends on the individual trader whether the fees are a drag on performance.
The fees charged by Saxo Capital Markets include several types of brokerage charges that don’t directly relate to buying and selling assets. Common non-trading fees include a deposit fee, withdrawal fee, inactivity fee, and account fee. Deposit fees apply when transferring money from your bank account to your trading account. Saxo Bank doesn’t charge this fee, so the amount of money you deposit will show up on your brokerage account as the same as the amount you deposited.
Account types
The fees for trading on Saxo Bank vary according to account type and tier. Trading fees are a combination of commissions and spreads, as well as overnight charges for leveraged products. The fees are relatively low compared to other online brokers. Depending on your account type, you can opt for one or all of these types of accounts. The minimum deposit is 500 pounds. There are also different types of account available, each with their own features and benefits.
The Saxo Bank offers three different types of accounts. You can open a classic, VIP, or Platinum account. Traders who deposit over PS200,000 can open a platinum or VIP account. If you cannot afford this minimum deposit, you’ll have to stick with a classic account. However, if you are a trust fund manager, you can apply for a special account with a minimum deposit of PS20,000.
Research
Traders may want to consider using Saxo trading research as a means to enhance their trading decisions. The research, which is offered via the company’s website or via trading platforms, is backed by a team of analysts. Saxo provides its clients with regular market updates, ratings, and commentary. Traders can also take advantage of multiple real-time streaming news services, trading idea generators, and TipRanks, which rank the top picks in the market.
The research platform is divided into multiple sections, and is categorized by asset class and analyst. Users can filter articles based on their preference, and can view the latest market data for different exchanges. Detailed articles are available in the Market Analysis section. Analysts provide insight on key trends, and client sentiment is tracked daily. Saxo offers free data for select stocks. It also provides market movers and calendar events. Traders can take advantage of an interactive chart function, 50 technical indicators, and Fibonacci tools.
Spread betting
Spread betting is a way to bet on futures contracts rather than individual stocks. The firm has over 660,000 customers worldwide, and facilitates over 180,000 trades every day from its headquarters in Canary Wharf, London. Traders can place their bets in the currency pairs of their choice, as well as on the broader market. However, there are a number of important considerations when placing bets.
One of the most common problems that traders face with spread betting is overleverage. The risk of losing money is high, but the rewards can be great. The initial capital outlay is relatively small, making it a good investment option. Furthermore, spread betting is a tax-efficient way to invest. Nonetheless, investors must take note of the risks of over-leveraging and over-investment. While it may seem like an attractive way to earn profits, it is not for every investor.
