Saxo Bank

Detailed Saxo Bank Review

Saxo Bank is an investing banking and technology company founded in 1992. Headquartered in Copenhagen, Saxo is a regulated bank with a large international network, employing more than 1,500 people in financial centers around the world, including Dubai, London, Paris, Singapore, Tokyo and Zurich. Saxo Bank serves clients in more than 180 countries, and its trading platforms are available in 28 different languages. 

The company offers two trading platforms: SaxoTrader, a customizable desktop (downloadable) platform geared towards active traders; and SaxoTraderGO, a web-based interface ideal for novice and casual investors, as well as traders “on the go.” Learn more about Saxo’s web-based platform in this Broker Guide, where we introduce some of the key features that Saxo clients can access through SaxoTraderGO.


Welcome Page - Visit the  website to learn about the firm’s product offerings – including equities, options, ETFs, futures, forex and bonds – as well as its  trading and investment platforms. Click the All Platforms button to compare Saxo’s platforms: SaxoTraderGO for the mobile trader and investor and SaxoTrader, a fully customizable professional desktop (downloadable) platform. To access your account, click the menu icon (three horizontal lines) at the top of the page and select Login. Choose Live or Demo and enter your Saxo ID and Password to launch SaxoTraderGO, the web-based platform we cover in this review.  



Account Overview - After logging in, you'll be directed to the Account Overview page that shows your available cash, available margin, account value and daily change (%). You’ll also see a performance graph that displays your account value and returns over time; click the All, 1 Month, 3 Months or 1 Year tab to view a different time period. Scroll down to view monthly profit reports and your position history. Use the tabs on the left side for other reports and an activity log.   

Financial Statement - Portfolio & Account Management – 2. Financial Statement From the Account Overview page, click the Reports tab and select Financial Statement to view detailed account information, including starting and ending balances, activity, activity in margin products and trading activity in cash products. Use the links at the top of the page to view a different time period (this year, last month and one week) or enter a custom timeframe. Click the Print icon to print or save the report.  



Equities - To view the Equities Overview page, click the News & Research tab at the top of any screen and select Equities. A list of U.S. and global indices is displayed on the left side of the page; click any symbol to view an intraday chart and market data, including open, low, high and previous close. The Overview page has several other modules, including today’s Gainers and Losers, Trade Signals (e.g., Ascending Triangle, Rising Wedge, etc.), News headlines and an event Calendar. Use your mouse wheel or the scroll bar within each module to view more information.    

News - For market updates, click the News & Research tab at the top of any screen and select News. Headlines are listed chronologically, with the most recent headline appearing at the top of the list. Click any headline to view the entire story (it will open on the right side of the screen). Use the Search box to find specific headlines by symbol, company name, sector or some other keyword.


Opinions - Click the News & Research tab at the top of any screen and select Opinions to view market analysis from Topics are listed chronologically, with the most recent analysis appearing at the top of the screen. Click any headline to view details (commentary will open on the right side of the screen). Use the Search box to find specific analysis by symbol, company name, sector or some other keyword.


Calendar - Click the News & Research tab at the top of any screen and select Calendar to view a list of events and reports, such as GB UK Monthly Inflation Figures and CN Industrial Output. Each item on the list includes the time and event, plus previous, estimated and actual figures. The top of the list includes today’s events; scroll down to view tomorrow’s. Click the “Details” link next to any event for more information.


Trade Signals - Click the News & Research tab at the top of any screen and select Trade Signals to view a list of instruments whose charts are exhibiting certain price patterns, such as Triangles, Wedges, Head-and-Shoulders and Channels. Each trade signal includes the instrument, interval, pattern name, date identified, type (e.g., breakout), probability and quality. Use the boxes on the left side of the screen to filter signals by asset class (forex, CFD and stocks), probability, chart pattern, Fibonacci patterns and interval. Click the “View Analysis” link to view details, including a price chart that highlights the trading signal, as well as Buy and Sell buttons. - Go to  to visit Saxo’s social trading community portal. Interested traders can link their trading accounts to the site and have their performance, current and past trades and risk calculations made public (you can use your real name or a pseudonym). Users can follow other traders and instruments and even receive alerts for other traders’ orders, which can be copied, if desired. Use the tabs at the top of the page to navigate to Topics, Opinions, Experts, Traders and Tools, plus a calendar, webinars and an FAQ page.  



Watchlist Filter - Click the Trading tab at the top of any screen to view or edit a watch list – or create a new one. Use the dropdown menu in the Watchlists window to select a watch list, including several pre-built lists, such as Forex, CFDs By Region and Bonds: Developed Markets. Open any watch list to view relevant market data and to Buy or Sell that instrument (note: some instruments, such as Forex, have Buy and Sell buttons within the watch list; with others, you must click the Bid or Ask price to launch an order ticket). Click Edit to add or delete an instrument from a watch list, rename a list or change its layout. 

Instrument Overview - Click any symbol in the Watchlists window to view an Overview that displays market data, such as last traded, net change, open, low and volume. There’s also a chart: By default, it’s a one-day intraday chart, but you can choose a different time range by clicking one of the tabs above the chart. Hover your mouse above any point on the chart to view the date, time and price. Click the “Show Market Depth” link to view Level II data, if available. Scroll down to view symbol-specific fundamentals and news.


Charts and Technical Analysis - Click the Charts tab in the Overview window to view a customizable chart of the active symbol (change the symbol by entering a new one in the Find Instrument search box). Click the Full Screen button to maximize the chart window; click Restore to revert to the default window size. Use the icons at the top of the chart to add an instrument or change the period and chart type. Click the Add Annotation icon to access drawing tools, such as trend lines and Fibonacci tools. Click the Trade button at the top of the window to launch the order ticket.


Technical Indicators - You can add technical indicators to any price chart. To do so, click the Add Indicator icon and select an indicator – such as ADX, Bollinger Bands or a MACD – from the dropdown list. Adjust the inputs (e.g., period, line weight, line color, etc.), if desired, and then click the OK button to add the indicator to your chart. To remove an indicator, click the “X” that appears in the upper right-hand corner of the indicator pane, or click the indicator title at the top of the chart and select Remove.


Order Entry - From the Overview screen, click the Trade button to launch the order ticket (you can also click Trade from any chart window, or right-click any symbol on a watch list). Fill out the order ticket, including Type, Shares, Duration and Price. If you want to add a profit target and protective stop loss to the order, click the “Add Take Profit/Stop Loss” link, enter your details and click Apply. Click Sell or Buy to send your order to the market.


Trading Platforms - Visit the  page on the Saxo website to compare Saxo’s platform offerings. This review covers SaxoTraderGO, a cross-device platform that is accessible across browsers on a PC, Mac, tablet or smartphone. For the professional trader, Saxo offers the SaxoTrader platform, a fully customizable desktop (downloadable) platform with advanced features. Try either (or both) free for 20 days with a simulated USD $100,000 account (details are on the website).



Products Available - Saxo offers a range of products for trading and investing. Visit the  for a complete list of available products, including equities, equity options, ETFs, futures, contract options, CFDs, forex, FX options and bonds. Click any product icon on the page to learn more about trading that product with Saxo, including commission rates.

Products Filter - Use the dropdown menu at the top of the Watchlists window to filter products. Scroll down and select Futures, for example, to view sub-menus and select specific products, such as Futures Commodities, Currencies, Energies, Indices or Stocks, among others. Select any product to view a watch list comprising those instruments, along with market data (e.g., Bid size, Percent Change, etc.) for each.



Education & Analysis - From the Saxo website, click the menu icon and select  to view the Education & Research page. The Get Involved section at the top of the page has links for Join an Upcoming Webinar, Video Guides, Webinar Archive and PDF Guides. Scroll down for links to, Saxo’s social trading community portal, plus a Financial Calendar, Stock Screener, Tutorials and How-To Videos and a link to the Saxo Academy. 

Saxo Academy - Click the  link on the Education & Analysis page to view educational content. Filter by category (Forex, Equities, CFDs, Futures, Options, Bonds and Forex Options) to search for specific courses. The level (for example, Beginner), number of pages and length (in minutes) is shown below the title of each course. Click the Launch button to go to that course (if the course doesn’t launch, you may have to enable pop-ups for the website).



Custumer Support - To make an inquiry, comment or suggestion, go to the , click the menu icon and select Contact Us (you can also click Contact Us at the bottom of any webpage). Scroll down to find the correct office (e.g., United Kingdom, Australia, etc.) along with relevant phone numbers, email addresses and other contact information.