Saxo Bank profile details: key information about the company
Saxo Bank is a prestigious multi-asset broker with more than 60,000 tradeable securities. Saxo Bank offers an engaging, rich trading experience with a broad range of tools, analysis, and subscription services for aggressive traders or those who can manage to keep the high account balance criteria.
If you’re planning to invest with Saxo bank or wish to know the details of the online trading platforms, this blog has covered every minor detail for you.
What does the profile on Saxo Bank include?
Saxo Bank's user interface is unique. The trading platforms SaxoTraderGO (web-based) and SaxoTraderPRO(download), provide considerable upgrades over the previous Trader and the industry-standard MT4 and are accessed through an API interface only. The end user (trader) requirements were kept into consideration by the brokers during development. A sophisticated trader also has a variety of possibilities because third-party tools are seamlessly connected.
Saxo Bank general information
Address |
Philip Heymans, Alle 15, 2900 Hellerup Denmark |
Contact |
https://www.home.saxo/contact-us (The webpage includes contact details of Saxo Bank from various countries) |
Enterprise history and synopsis
Lars Christensen and Kim Fournais were the minds behind Saxo Bank, which was first known as "Midas." Midas introduced MITS, a currency trading platform, as its first online offering in 1997. (later replaced by SaxoTrader). Due to copyright difficulties, the corporation changed its name. In the early 2000s, Saxo Bank introduced its goods and services in Europe. Its first white-label product was introduced in 2001 by a securities dealer in Portugal.
Since then, Saxo has expanded through additional acquisitions, startups, and the creation of Saxo Asset Management, a division of asset management legally separate from the rest of the Bank.
Saxo Bank introduced a new equity trading platform in March 2010 that allows users to transact in more than 11,000 stocks and other products listed on 23 of the world's largest exchanges.
How to open a Saxo Bank account?Saxo Bank executive team
The board of management of Saxo Bank includes
Kim Fournais - Founder and CEO
Soren Kyhl - Deputy CEO and Chief Operating Officer
Steen Blaafalk - Chief Risk and Compliance Officer
More information about the team members can be gathered here.
Customer base
Saxo Bank boasts a wide array of customers. These include banks, brokers, External Asset Managers, Corporate Hedgers, Family Offices, Financial Advisors, Fintechs, Hedge fund advisors, and prop traders.
Customer service
Saxo customer service would have to be the issue if there was a weakness in its online brokerage business. There is no option to chat Live on the website. However, an online chat facility is integrated into the trading platforms. However, the chat facility is accessible only to financed accounts. Support for local languages is available to higher-tiered accounts only. Saxo bank also offers a chatbot facility to their users. Although the broker is active on Twitter and Meta, neither platform is used for customer care.
It is an apparent oversight because live chat is unavailable to demo account investors who often verify a broker's offerings. This makes potential customers obligated to contact sales by phone or email. The search function should be enhanced despite the broker's extensive support page's various themes. Saxo promotes industry-standard round-the-clock customer service, yet the contact page only lists sales and office reception numbers—there is no local or toll-free support line, and the tiny print says that departments are open from 9:00 A.M to 5:30 P.M. local time. Furthermore, there is no direct phone line to the handling desk.
Saxo Bank Account Types - Which is Better for Me?Legal entities and regulations
Despite the fact that Saxo Bank is subject to international regulation and that anybody can access its website, the business emphasizes that all clients will interact directly with Saxo Bank A/S and are subject to Danish law.
Saxo Bank complies with all requirements, keeping client monies in segregated accounts. Saxo Bank completely complies with all of the regulations set forth by each regulator, which will vary. Additionally, because it is a Danish bank, the Cover Fund will guarantee customer deposits of up to 100,000 euros. Only retail customers are affected by this.
All the required information regarding the regulation of Saxo Bank is provided here.
Overview of products
Customers of Saxo have access to a wide range of investment and leveraged products that cover many different asset classes.
182 FX spot pairs
140 FX Forwards
44 FX vanilla options
19000+ stocks
9000+ CFDs
It is possible to trade various instruments using various platforms and order routing strategies; however, specific platforms will cost more than others.
Is Saxo Bank Regulated? Is it safe?Saxo Bank services
A wide range of products and asset classes are available to users of the trading platform from several international financial marketplaces.
The SaxoTrader suite is readily compatible with a wide range of software and hardware, including Windows, for desktop users. The SaxoTrader GO mobile app is available on various operating systems, including Android, iOS, and Blackberry. Saxo Bank provides a particularly distinctive and alluring web trading platform for gaining access to many asset classes. One-step login is necessary after the software has loaded.
However, Platinum and VIP users enjoy a more secure IP address connection for login. The intuitive menu ensures navigation is simple despite its seeming complexity.
FAQ
Who are the investors of Saxo Bank?
Sampo, Geely, General Atlantic, TPG Capital, and Sinar Mas Indonesia are some of the investors of Saxo bank.
What is the minimum deposit for Saxo Bank?
The starting capital is $2,000 for initial beginners.
How do I pay for my shares on my Saxo Bank trading account?
Portfolio or bank transfers are the only options to pay for Saxo Bank transactions or trades.
Is Saxo Bank safe?
Saxo Bank is a market leader, licensed as well as fully regulated. It thoroughly complies with all the stringent regulatory standards in 15 jurisdictions, which included the UK, Denmark and Singapore. It holds banking licenses in Switzerland and Denmark as well.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.