SaxoBank Review

1.   Introduction

SaxoBank is located in Denmark and officially commenced trading in 2001. Since its inception, this broker has risen rapidly to become a leading provider within the spread betting market sector. Although the SaxoBank is a fully licensed international bank, it specializes in providing its clients with the ability to speculate on the global financial markets.

Although this company also serves large investment institutions, the core of its business centers on its extensive list of private individual members. Specifically, these clients are provided with the essential services and facilities to execute spread bets using a range of underlying assets based in supported markets, such as stocks, Exchange Traded Funds (EFT), currency pairs, commodities, indices and options.

SaxoBank provides an impressive spread betting trading platform that has already capture a series of industrial awards. In fact, one of the primary missions of this company is to constantly focus on enhancing the efficiency and functionality of its trading platform and tools.

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Sign up to SaxoBank Spread Betting Now and Trade from 1 Pt across more than 20 Global Indices!

 2.   Trading Markets

SaxoBank has built a brand name for itself since its launch which distinctly separates it from its competitor. For example, this broker supports a wider selection of tradable assets based within a large number of diversified markets. This extensive selection is epitomized by the choice of Forex assets which exceed over 160 currency pairs. In fact, SaxoBank has adopted a policy of focusing on the Foreign Exchange Market which clearly differentiates it from its rivals. To accomplish this objective, this broker has devised an industrial leading library of spread betting educational material which is second to none.

By becoming a registered member of SaxoBank, clients can then activate spread bets structured on over 14,500 stocks presented on nearly 30 different exchanges. They can also formulated trades using in excess of 20 major global indices. Saxo Bank has strived hard to ensure that its customers can access more markets and assets than those supported by rival brokers in order to attract a highly diversified customer base consisting of varied trading strategies and styles.

3.   Trading Platform

The trading platform supported by SaxoBank is rated as highly proficient and well capable of meeting its client’s spread betting needs. The company has recently launched version 2.5 of this impressive tool which introduces a spate of innovative features devised to satisfy even those traders seeking the highest technical standards possible.

You can choose to either download the platform onto your own computer facilities or utilized the web-based variant which allows you to connect to your account using any computer portal possessing an internet connection. There are also applications that are available that permit you to activate spread bets directly from your mobile device. A suite of software now exists allowing you to speculate on the financial markets by using a MAC, PC, Android and iPhone.

There are many exiting and original analytical trading tools presented by the SaxoBank platform. For instance, this facility supports trading strategies exclusively devised by experts at SaxoBank. In addition, a steam of current market research is constantly updated and displayed supported by an economic calendar. You also have the option to customize the layout and appearance of the trading platform to comply with your ideal stipulations.

A comprehensive and well-integrated charting packing provides an extensive selection of technical indicators. Although this tool may appear basic in appearance, its execution is so efficient that minimal errors are generated when new spread bets are activated. This product has acquired an impressive reputation for supplying traders with the information they essentially require in order to enhance their spread betting profitability.

4.   Bonuses and Benefits

This particular aspect of its business profile is this broker’s biggest weakness. This is because SaxoBank has not adopted a clear policy to offer promotions in order to attract new custom. Perhaps of even greater concern is that the free demo facilities provided only remain active for a maximum of 20 days.

5.   Educational Facilities

The learning center of SaxoBank is one of the main pluses of this company. For example, impressive research videos are produced daily by SaxoBank that enable its clients to clearly identify all the key aspects of the prevalent market conditions thereby enhancing their abilities to select the optimum spreads bets possessing maximum profit potential with minimum risk exposure.

However, this broker does not stop there as it discloses its own spread bets. Each one is fully detailed by revealing their entry and exit values together with the rationale for selecting the trades in the first place. Both fundamental and technical analysis is provided in order to vindicate their selections.

This broker also supplies a comprehensive trading glossary. Another outstanding tool is termed the ‘Trade Mentor’ which consists of a series of videos designed specifically to help novices enhanced their spread betting skills by identifying their optimum trading style. This tool comprises a twelve chapter course that describes the basics of spread betting using well-presented installments as well as introducing the key features of the SaxoBank trading platform.

6.   Strengths & Weaknesses

6.1.      Strengths

The major pluses of this spread betting broker are its daily research videos and its educational products. Many experts rate these tools highly by endorsing them as products that beginners should utilize in order to acquire deep insights into prevalent market conditions.

6.2.      Weaknesses

SaxoBank does not promote any special incentives or bonuses in order to attract new custom or reward client loyalty. In addition, some critics express concerns about the absence of interactive tools on the firm’s trading platform. As only a limited number of technical analytical tools are supported, SaxoBank is considered a better option for traders preferring fundamental analysis.

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7.   Conclusion

Despite some minor deficiencies, the trading platform provided by SaxoBank is assessed as being one of the best in the spread betting market sector. The strategies and educational material produced by this broker are also highly rated. The company is presently refining its research policy by basing it on fundamental analysis and then using technical indicators to detect quality entry locations for new spread bets. If you are presently seeking a top class spread betting broker, then you are well-advised to consider SaxoBank as one of your leading options.

Adam

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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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