Saxo Bank has both CFDs and real trading for their clients. You have over 40.000 assets to choose from. Let’s see more about exactly what is available.
Forex can be traded as CFDs. You will find over 180 forex pairs that start from 0.4 pips.
Saxo Bank has only four commodities in total: gold, silver, WTI, and corn. These can be traded as CFDs, futures, and options. You can also opt for ETC which are ETFs on commodities.
You can go long or short on over 25 indices which you can trade as CFDs. They cover certain markets such as the US, European and some Asian indices.
Saxo Bank allows you to select between 37 stock exchanges, offering over 19,000 stocks. Commissions begin at $3 if they are on the US shares.
This bank offers over 3,000 ETFs with competitive commissions. You can choose from 30 different exchanges.
According to Saxo Bank, there are over 5,000 government and corporate bonds from over 26 different countries in regions such as Europe, the US, Asia, the Middle East, and Latin America.
You can trade over 1,200 options listed on 23 different exchanges worldwide. Forex options are also available on Saxo Bank.
If you would like to invest in mutual funds, Saxo Bank offers zero commissions. It is a collective way to invest, where a group of funds is traded by a professional investor in order to generate profit.
The professional investor usually buys securities such as stocks or bonds, but they might also trade other assets.
Execution, leverage and position sizing
Here are some of the key trading features you can expect to find when trading at Saxo Bank.
Saxo Bank is a hybrid Market Maker STP broker. STP stands for Straight Through Processing. This means that your order will be directly processed without any intervention from Saxo Bank. In other words, this electronic payment process is automated and it will connect you directly with the market.
In some cases, such as with CFD products, Saxo Bank will act as a Market Maker. This means that they will both buy and sell operations, creating their own internal market.
The leverage will depend on three variables: your regulation area, the account you have registered with, and the asset you will be trading.
As an example, the maximum leverage within the European Union and the United Kingdom is 30:1. The maximum leverage is always 30:1 in Australia (ASIC). As for Dubai you may go up to 50:1, and Singapore will allow a 20:1 maximum leverage.
Saxo Bank has a minimum trade size of 1 micro lot, in other words, 0.01 standard lots. For forex this would mean that as a Saxo Bank client you may open non leveraged positions as low as $1,000.
Saxo Bank prioritizes the importance of offering risk management tools.. They offer five of these in combination with your trading platforms.
First, you may access stop losses or take profits to protect yourself from losses and secure your gains. With both these options you can exit a position by pre- selecting your stop loss price.
Another available tool are limit orders. With this, you can buy or sell once the asset you have selected reaches a specific price.
A fourth option are trailing stops that will allow you to secure profits as long as the asset you choose continues moving in the right direction. The order will remain open as long as it is in your favor.
Saxo Bank also offers margin calls which is a warning when your equity falls below a certain level.
Trading hours will depend on the asset. For all commodities and forex you will have access from Monday to Friday 24/5. As for cryptocurrencies, it will always be open with 24/7 available trading hours.
That leaves stocks, indices, and bonds. These vary depending on the local trading hours.
Forbidden trading techniques
Although Saxo Bank does not allow scalping or hedging, they do allow APIs. The functions of which can be to make transactions, payments, information, and access as smooth as possible.
According to Saxo Bank you will “gain market access through a stable, fast, flexible and fully documented electronic infrastructure”.
Platforms & Mobile
Picking a platform that is right for you will also influence your broker choice. It will depend if you must trade on the go, or if you prefer to view your charts, and tools on a desktop screen, choose what is best for you, though the broker offers some excellent choices in all regards.
Charting and Trading tools
Saxo Bank offers a vast number of charting and trading tools such as correlations table, option risk tools, FX open positions, CME Benchmark, and more. The two proprietary platforms provide a good number of those tools.
If you happen to need an additional tool, you can connect your account to a third party charting tool such as Trading View. Besides, you can also use APIs for a better chart analysis.
SaxoTraderGO is an award winning proprietary trading platform. It stands out because of its multi-asset alternatives, the multiple charting tools, and great account management capability. Furthermore, it is available on both desktop and mobile (IOS and Android).
Some of the risk management tools it offers are margin breakdowns, stop orders, account shields, and margin alerts. It includes a research hub where you can access the latest news on asset movements, global sales trading market updates, and more.
You can even get these sent to your phone if there is a relevant movement in the market.
If you download this proprietary trading platform you will have an account overview to help you manage or analyse performance. A portfolio summary, returns breakdowns, and performance analysis will help you examine your past moves.
SaxoTraderPRO is a multi-asset proprietary trading platform that works with APIs. Although it is only available for desktop, you can arrange the layout in up to six screens, and it offers account management functions as well.
For those who choose this trading platform, you will have access to advanced trading features such as a charting package, an option chain to trade FX vanilla and touch options, and algorithmic orders.
This last feature is only available on major US, Asian, and European markets. You can download the guide to learn more on Saxo Bank’s website, under the SaxoTrader PRO information section.
Special features you can find on Saxo Bank
Saxo Bank SaxoStrats
SaxoStrats is a team of eight people that offer a market insight service. You can read their insights which are based on their experience in articles that are available for all. These strategists will be in direct contact with you if you open a Saxo Bank VIP account.
Social Trading – Copy Trading
Saxo Bank does not allow any of their clients to access social or copy trading services. It means you can’t interact with other users to learn from them or make social profiles on the website or platform. As for copy trading, this is also not catered for.