Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.
Beginning of cooperation
Forex professionals know very well the slogan: ‘A serious bank for a serious trader’. This was the one that SaxoBank adopted when it first entered the Russian foreign exchange market in the mid-2000s.
We first came across this financial institution in 2001. In 2004 the bank already had Russian-speaking staff. Today the bank offers to the potential client a very informative portal devoted to products, services, analytics and many other things.
The present-day SaxoBank is a platform for online trading in currencies, securities, derivatives, and precious metals. At the same time, all Saxo Bank’s deposits, as well as deposits of other Danish financial institutions, are guaranteed by the Government of Denmark. This means that, should the need arise, the Danish Government guarantees to the clients to pay all the money deposited, irrespective of the amount.
You will probably ask why all Internet traders have not yet lined up for an account at this largest broker banker. To the utmost regret of the Internet traders, the bank does not permit transactions with leverage, which increases the profitability of a transaction 100 times, but equally increases the risks, which obviously cannot be covered by the deposit guarantee programme of the Danish governmental.
Thus, the bank is ideal for an initiative-taking, but conservative investor who is used to doing everything himself, including the real-time management of own assets, while keeping abreast of the latest financial developments.
Saxo Bank does not charge any fee on account opening, incoming or outgoing transactions or for account maintenance. However, it does charge for conversions
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