The account opening process at Saxo Bank is user-friendly and fully online. Saxo Bank is a leading online broker for professional investors. It offers an impressive portfolio with web, desktop, and mobile trading platforms.
| Saxo Bank | Swissquote | TradeStation Global | |
|---|---|---|---|
| Rating | 2.5 stars | 4.0 stars | 2.8 stars |
| Account opening time | >3 days | 1 day | 1 day |
This article discusses the Saxo Bank account opening characteristics.
Availability
The primary aspect to consider when selecting an online broker is availability. Saxo Bank is available in 15 countries, including the United Arab Emirates and the United Kingdom.
Requirements
Saxo Bank has transparent account opening requirements. To open a brokerage account with this broker, you’ll have to submit proof of identity and proof of residency. The process is fully digital and available on Saxo Bank’s website.
When registration is complete, you’ll have to pay a minimum initial deposit fee. Saxo Bank has a high minimum deposit amount of $2,000. Initial costs vary depending on the funding method you choose. Check our in-depth reviews to learn about the services available at Saxo Bank.
| Saxo Bank | Swissquote | TradeStation Global | |
|---|---|---|---|
| Minimum deposit | $2,000 | $0 | $1,000 |
Accounts
A secure and reliable online broker provides access to many account tiers. Saxo Bank has a versatile offer for traders at all levels of experience. The main advantage of trading with this broker is that its accounts are available in 26 different base currencies. Read our in-depth reviews to discover more about Saxo Bank accounts and fees.
| Saxo Bank | Swissquote | TradeStation Global | |
|---|---|---|---|
| Base currencies | 26 | 21 | 22 |
Opening accounts
Opening an account at Saxo Bank is fully digital and simple. You have to select a brokerage account, submit your personal information and proof of identity. After you review the information, you’ll have to sign a virtual contract. As soon as the broker checks your account, you will make the initial deposit and start trading.
Final Word
Saxo Bank is a top choice for professional investors who want a premium online trading experience. It has a straightforward account opening process. Read our in-depth reviews to discover more about Saxo Bank.
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.
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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.
