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Is Saxo Bank Good For Beginners?

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Saxo Bank is a popular online broker with premium trading platforms. It has a transparent fee structure and top-tier trading tools. We recommend it for advanced traders, but it suits the needs of beginners, too.

Saxo Bank Swissquote TradeStation Global
Web platform score5.0 stars4.3 stars4.5 stars
Mobile platform score5.0 stars4.7 stars3.8 stars
FeesAverageHighLow
Account opening score2.5 stars4.0 stars2.8 stars
Education score4.5 stars5.0 stars2.5 stars
Customer service score4.0 stars4.4 stars4.0 stars
Deposit and withdrawal score4.8 stars4.6 stars3.5

This article discusses whether Saxo Bank is a good choice for new investors.

Saxo Bank & Beginner-friendly Services

We review online brokers based on 105 criteria. Our findings depend on many factors, including ease of access, platforms, and safety.

Saxo Bank has impressive tools and platforms tailored for professional investors. However, it offers access to beginner-friendly platforms with safe authentication. Saxo Bank also provides educational tools for beginners. The minimum deposit fee is $10,000, which might be too expensive for new traders.

Saxo Bank offers professional tools and platforms. It has some research materials and advanced trading videos. Saxo Bank offers one-on-one consultations with company fund managers.

Safety

Safety is an important aspect we review. Saxo Bank has top-tier licenses from the ASIC, FSA, FINMA, MAS, SFC, and FCA. It offers access to secure authentication methods and platforms.

Final Verdict

Saxo Bank is a popular online broker in 2021 recommended for professional traders. It has easy-to-use trading platforms with premium features and tools. Read our in-depth reviews to discover more about Saxo Bank and its services.

Saxo Bank compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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