Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker.
Our slippage data about Saxo Bank is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.
Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF
Average profit: 14.0 pips
Average trade lifespan: 19 hours
Most traded pairs: EUR/USD, GBP/USD and USD/CHF
Average profit: 16.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 5 hours
Average pips/trade: 5.0
Average trade lifespan: 18 hours
Average pips/trade: 12.0
Average trade lifespan: 15 hours
Average profit: 28.0 pips
Average trade lifespan: 3 days
Average profit: 22.0 pips
Average trade lifespan: 13 hours
Average pips/trade: 9.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 11 hours
Average profit: 10.0 pips
Headquarters: Copenhagen, Philip Heymans Allé 15, 2900 Hellerup
Country: Denmark
Regulated by: FSA (Denmark), Member of Guarantee Fund for Depositors and Investors supervised by the Danish Ministry of Economics and Business Affairs, ensuring capital guarantees according to certain thresholds.
2.7
3.5
Classic Account:
minimum deposit: $1
minimum lot size: 5k
max leverage: 100:1
Premium Account:
Classic account + extended news and research
minimum deposit: $100 000
minimum lot size: 5k
max leverage: 100:1
Platinum Account:
Premium account + Individual pricing
minimum deposit: $500 000
minimum lot size: 5k
max leverage: 100:1
Spread:
Variable, from 2 pip
Deposit/Withdraw
Bank Wire
Platform:
Custom trading platform - SaxoTrader
MT4 - offered through SaxoMT4.com
Saxo Bank is a global bank and forex broker based in Copenhagen, Denmark, and operating out of offices in 21 countries.
Variable spreads;
Typical spreads: EUR/USD -2 | GBP/USD - 4 | USD/CHF -3 | USD/JPY - 3
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Pros |
Cons |
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Decent spreads under normal market conditions
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$10 commission for deals below 50k (standard acc) Spread widens during volatile market Spread widens during news releases Spreads widen during Asian session |
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Pros |
Cons |
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'no slip' stop orders - Saxo Bank guarantee these stop orders only under normal market conditions |
Slippage during news releases Slippage under normal market conditions |
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Pros |
Cons |
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No requotes |
Disabled auto execution for 2-3 seconds during news releases |
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Pros |
Cons |
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No stop hunting and price manipulation
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Spikes occur during Asian session
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Pros |
Cons |
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Web Platform Hedging Trailing stop TradeCommander Autotrading |
User-unfriendly platform Poor Charts
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Deposit |
Withdraw |
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Bank Wire
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Bank Wire
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Pros |
Cons |
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Customer Service reps are always ready to help Phone Request a Call Live Chat |
Не преразглеждат сделки
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Pros |
Cons |
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Rare requotes Capital guarantees Regulated |
Slippage during normal market conditions
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Add reviewTo make a long story short, I don't trust Saxobank. I lost over $50K trading with them and often as some say here, they've set up a system that is your enemy when you're on the profit side and your best friend when losing money... I'm trading with FXCM and they're a breath of fresh air in comparison and you never sense their presence, they just cut their commission in the pips differential and let the market take its course... the way it should be for brokers... and forget about 25 or 50 pip gaps when the market is volatile... it doesn't happen. No wonder their rating is one of the highest here...
Trading platform is user friendly, but the charting system is problematic. The newest problem is that the trendline I drawn will shift after 15 mins on 15 times time frame chart. I reported this problem for about 2 weeks, problem not solved, and still receiving e-mails asking me to conform the problem. Bad customer servive!!
Horrendus problems with the Saxo Web Trader platform. I'm getting a rejection rate of about 90% on trying to hit market prices especially when trying to exit positions.
Enterting orders is difficult and then service off chat is minimal, arrogant and full of attitude. You will never see any sort of refund off these guys but a rabid defense and constant inference that it is your fault.
Order prices reset themselves, seen prices trade through a couple of times before an order fills, latency so bad I managed to end as short as I was long because I assumed when I had tried to close a position that the order hadn't filled becasue nothing popped up to get two notifications 20 seconds later.
Looks great but I am afraid that is about it. I don't mind them making money but they resent you making money and will charge for absolutely everything they possibly can..
I am in the process of moving the FX part of my business to another broker.
I trade quite frequently. Not a professional, but do some pretty big trades, read some surprisingly bad reviews here. Personally whilst im not a news trader even on reasonably big trades of c 1M never had any noticeable slippage. The back office staff are usually really efficient. Was on this site looking for other brokers and wanted to read some reviews especially on FXCM as read a lot about FXCM, which seemed very pro and as though they might offer more depth and charting than Saxo does. but then the comments here suggest otherwise, yet they also suggest Saxo is a scam which hasn't been my experience so who knows!
One of the best platforms out there... you guys have to keep in mind that this is a direct feed to markets... it's not like those brokers that play against you... This is a serious bank, of course spreads can get high, spreads are made by the market... The other day EURUSD spreads went up to 25 pips when lots of volatility were around...
The only con I give them is their platform still not being able to accept custom indicators, and formulas... other than that... very good.
I trade with 500K + and no way I'd deposit this kind of money in brokers like Alpari or Fxpro or anything...
I would personally suggest that you avoid the use of this market maker if you are an intraday FX trader or a news trader. I ever witnessed a 50-pip spread on pre-news announcement, and an ex-colleague of mine who was also trading with them, had his/her stop taken out that was out of the market (meaning no trades were done on Bloomberg and Reuters). For trading on exchange traded products, such as Futures and Equities, I would suggest anyone to set a limit order for entry instead of executing through live market.
One complaint you sometimes hear from Saxo traders is that there may be some slippage, particularly on larger trades. As for customer service, it seems to play both ways. Some investors indicate that there is too much chat and advice provided. Others claim that the live chat is never answered and email response is slow. Overall, however, users seem to be pretty well satisfied. If you are able to absorb a large volume of information—and many FOREX investors seem to possess this talent—you could decidedly enjoy SaxoBank’s platforms.
I have been using Saxo Trader platform for several months for stock trading. Whilst it has many good features, it has a number of major problems and its use is turning into a nightmare:
1. There is no transparency regarding bugs in the system. You find major problems, report them, only to be told, for example, that the problem is known, and they are working on a solution. But there is no advice when bugs are fixed. For example, I recently found that virtually ALL the daily charts for Xetra DAX constituents (and no doubt other exchanges as well) were wrong: eg, the decline on K+S one day of 3% was reported as a small gain. So all technical analysis using Previous Close data are incorrect!
2. They introduce a new version, and you find that it has bugs because of inadequate testing. But there is no provision to reinstall a prior, more stable version.
3. They seem to put all their efforts into adding more 'bells and whistles' when basic problems still exist.
4. There are extensive charting features, but there are major problems with chart basics. For example, the horizontal time scale is often broken up into unequal divisons; and even when the time divisions are equal, say 45 minutes, the horizontal space for each may differ markedly, so that the real shape of the chart is distorted. Vertical grid lines often occur haphazardly and not at major time intervals. These problems have been around a while, but no attempt seems to be made to fix them.
5. "Help" is hopelessly inadequate. Many features are simply not described; sometimes the description is incorrect. There’s got to be a better platform than this.
Have used Saxo for over a year. Started as a complete beginner to FX trading so it took abit to get my head around their platform but once I'd done that I found it very very easy. I've not really had any issues with it, it only asks to be updated about once a fortnight. I don't experiance delays in the charting at all.
Customer service-wise they've been excellent. I get about 6 email forwards per day from my account manager which are all the analysis papers & trade recommendations done by the major european banks (useful to see what everyone else is doing & thinking).
Money has never been a problem either as it seems to have been for others. Deposits appear instantly (literally) & withdrawls take 2 minutes to request & 2 days.
I'd recommend them without hesitation.
Advantages
Bank license.
Guaranteed defense of client deposits.
An enormous set of financial tools.
First-class sources of analytic geometry.
Disadvantages
Insufficient transparency – traditional banks’ information is absent, regarding charters, funds, property assets, sizes of assets, etc.
It is not quite complete, enough, with (language translations) into other languages
They are the worst broker I have come across. They seem to activate my stop losses and profit from it. When I bought index CFDs and when the market went up, they said that they received incorrect feeds from their MM.
They cancelled my successful trades after 60 mins and then put my original orders back.
Aren't they a MM anyway ?
Avoid them like a plague
I have used this service for couple of years from time to time.
Surely they have great spreads (5-6 pips for GBP/USD) and extreme violation within news.
It is not a problem to send them a money but when you want withdraw it - it is horrible.
Couple of weeks ago I sent them EUR 10,000 to my EUR subaccount.
Then I decided to get out of that and withdraw EUR 10,060 but they transfered it to Bucks at 1.25 when the lowest price this week since I have sent them a request 1.2795.
I wanted to transfer them about EUR 100,00 hoping EUR would go up and now I understand that I could possible loose money because my EUR account would have been denominated in USD ((((
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