Saxo Bank is a global bank and forex broker based in Copenhagen, Denmark, and operating out of offices in 21 countries.
Saxo is perhaps the best choice there is for investors looking to diversify their portfolios – the broker offers forex (160 currency pairs are available for trading), CFDs, ETFs, stocks, bonds, futures, contract options, binary options, etc.
All this is tradable from the desktop, web and mobile version of the broker’s own trading platform – Saxo Trader. Being quite a tech savvy company, Saxo Bank constantly tweaks Saxo Trader in order to improve its performance. The platform supports all the general functions you would expect to see – great charting, trading straight from charts, technical indicators, live news feeds (powered by Dow Jones and Deutsche Boerse’s Market News International), technical analysis tools and indicators, etc. Along with that there are also some fancy features you probably won’t see elsewhere, such as the comparative analysis tool that lets you overlap charts for as many currency pairs as you want, or the TradeMaker tool for suggesting trading ideas.
The Metatrader 4 (MT4) platform is also supported by the company’s Cypriot subsidiary.
Saxo Bank’s operations are fairly transparent and client money seems to be well protected – the broker is regulated byt FSA (Denmark) and is a member of the Danish Ministry of Economics and Business Affairs’ Guarantee Fund for Depositors and Investors. Furthermore, being a EU broker, it is also MiFID compliant.
If you are looking to interact with the other traders, you can do so on the designated site Saxo supports – TradingFloor.com – where there are articles on forex, blogs, video tutorials, etc.
The one thing we miss at Saxo Bank is the possibility for trading signals, although automated trading via ZuluTrade and Currensee is supported by SaxoMT4.