Saxo Information

Saxo is a Danish investment bank founded in 1992. It provides trading in stocks, ETFs, bonds, mutual funds, forex, futures, forex options, and listed options its proprietary trading platforms - SaxoTraderGo, SaxoTraderPRO, and SaxoInvestor. The bank operates in over 100 countries and has offices in major financial centers worldwide, including Copenhagen, London, Singapore, and Tokyo. Saxo Bank is regulated by several financial authorities, including ASIC (Australia), FCA (UK), FSA (Japan), SFC (Hong Kong), AMF (France), CONSOB (Italy), FINMA (Switzerland), and MAS (Singapore). The bank also has a banking license and is a member of the Danish guarantee fund for depositors and investors.

Pros & Cons

Is Saxo Legit?

Saxo has several entities that operate in multiple jurisdictions, heavily and globally regulated to provide a reassuring trading environment.

Regulated Country	Regulated Entity	Regulated by	License Type	License Number
	SAXO CAPITAL MARKETS (AUSTRALIA) LIMITED	ASIC	Market Making (MM)	280372
	Saxo Capital Markets UK Limited	FCA	Market Making (MM)	551422
	Saxo Bank Securities Ltd.	FSA	Retail Forex License	関東財務局長（金商）第239号
	Saxo Capital Markets HK Limited 盛寶金融(香港)有限公司	SFC	Dealing in futures contracts & Leveraged foreign exchange trading	AVD061
	Saxo bank A/S	AMF	Retail Forex License	71081
	BG SAXO SIM SPA	CONSOB	Market Making (MM)	296
	SAXO BANK (SCHWEIZ) AG	FINMA	Financial Service	Unreleased
	SAXO CAPITAL MARKETS PTE. LTD.	MAS	Retail Forex License	Unreleased

How are you protected?

Saxo is a regulated broker, with licenses from multiple reputable regulatory authorities and a long-standing history of providing financial services. The broker takes extensive measures to protect client funds, including segregating them from the company's assets and offering negative balance protection.

Additionally, Saxo offers various security features, such as two-factor authentication and encryption, to ensure secure trading.

More details can be found in the table below:

It's important to note that while these measures provide some level of protection for clients, there is always some level of risk involved in trading financial instruments, and clients should always be aware of the risks before making any trades.

Our Conclusion on Saxo Reliability:

Based on the information available, Saxo is a reliable and trustworthy broker. It is regulated by reputable authorities, has been in operation for several years.

Market Instruments

Saxo offers a wide range of trading instruments across multiple asset classes, including

• Forex: More than 180 currency pairs, including majors, minors, and exotics.
• Stocks: Over 40,000 stocks from 36 global exchanges, including NYSE, NASDAQ, LSE, and more.
• Futures: Over 200 futures and options across a variety of asset classes such as commodities, indices, and bonds.
• Options: A wide range of options on stocks, indices, and futures.
• Bonds: Trade a wide range of government and corporate bonds, including sovereign bonds from developed and emerging markets.
• ETFs and CFDs: Access to over 3,000 ETFs and CFDs on indices, commodities, and stocks.

Account Type

Saxo offers a range of account types designed to suit the different needs of its clients. The account types offered by Saxo are:

• Individual Account:

• Corporate Account: An account for companies, partnerships, and other legal entities.

• Professional Account: An account specifically for professional traders.

Each account type has its own unique features and benefits, such as lower pricing, higher leverage, and dedicated account managers. Saxo also offers a free demo account (20 days with $100,000 virtual fund) for clients to practice trading before committing to a live account.

How to Open an Account with Saxo?

It takes only about five minutes and a short online form to open an account. Clients will need to submit the standard verification documents required by KYC and AML rules, but the procedure should be quick and easy, and they will have access to their account in minutes.

Leverage

Saxo offers leverage up to 1:100 for forex trading. Professional clients are entitled to leverage of 1:40 for the primary index, 1:33 for the secondary index, 1:33 for gold, 1:10 for equities, and 1:25 for commodities. Retail clients are entitled to leverage of 1:20 for the primary index, 1:10 for the secondary index, 1:20 for gold, 1:5 for equities and 1:10 for commodities.

However, the maximum leverage may vary depending on the instrument being traded and the client's location. It is important to note that trading with high leverage carries a higher level of risk, and traders should always exercise caution and use risk management strategies.

Spreads & Commissions

Saxo offers variable spreads, which means that the spreads can change depending on market conditions. The typical minimum spreads for popular instruments are as follows:

EUR/USD: 0.4 pips

USD/JPY: 0.6 pips

GBP/USD: 0.9 pips

AUD/USD: 0.6 pips

USD/CHF: 1.2 pips

USD/CAD: 1.5 pips

Saxo also charges commissions on some products, including stocks, ETFs, and futures. The commission fees vary depending on the specific market and the size of the trade. Commissions start from $1 on US stocks, US listed ETFs and futures. Bonds commissions start at 0.05%, listed options commissions start as low as $0.75 per contract, and mutual funds commissions are $0 for custody and platform fees.

Trading Platforms

Saxo offers its own proprietary trading platform called SaxoTraderGO. It is a web-based platform that can be accessed from any device with an internet connection. In addition, Saxo also offers SaxoTraderPRO, a desktop-based trading platform that is designed for advanced traders who require additional functionality.

SaxoTraderGO is highly customizable, allowing traders to arrange the interface to suit their preferences. It provides access to a wide range of trading tools and features, including charting tools, technical analysis indicators, and news feeds. The platform also includes a comprehensive range of order types, including market, limit, stop, and trailing stop orders.

SaxoTraderPRO is a professional-grade trading platform that offers advanced trading tools and features. It is designed for active traders and includes a range of tools that allow traders to monitor multiple markets and instruments simultaneously. The platform also includes advanced charting tools and a range of order types, including conditional orders and algorithmic trading capabilities.

Saxo also offers SaxoInvestor, which is a user-friendly trading platform suitable for beginner investors who are interested in a wide range of asset classes. It provides a simple and intuitive interface with basic research tools and features, making it easy for investors to buy and sell stocks, ETFs, bonds, and mutual funds. However, advanced traders may find the platform's lack of advanced tools and customization options limiting.

Deposits & Withdrawals

Saxo Bank supports several deposit and withdrawal methods, including Online Banking, Electronic Direct Debit Authorization (eDDA), and Bank Transfer (Counter services or ATM).

Conclusion

Overall, Saxo is a multi-asset broker that offers a comprehensive suite of trading tools and services to help traders achieve their investment goals. However, potential clients should carefully consider the fees before opening an account. Also, dont forget check their user reviews on the Internet.

Frequently Asked Questions (FAQs)

Is Saxo legit?

Yes. It is regulated by ASIC (Australia), FCA (UK), FSA (Japan), SFC (Hong Kong), AMF (France), CONSOB (Italy), FINMA (Switzerland), and MAS (Singapore).

Does Saxo offer demo accounts?

Yes.

Does Saxo offer the industry-standard MT4 & MT5?

No. Instead, it offers SaxoTraderGo, SaxoTraderPRO, and SaxoInvestor.

What is the minimum deposit for Saxo?

There is no minimum initial deposit to open an account.

Is Saxo a good broker for beginners?

Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Overview of Binary.com

Binary.com is a regulated trading platform based in the United Kingdom and has been in operation for 5-10 years. It operates under a Straight Through Processing (STP) license in Malaysia but has had its retail Forex license revoked in Vanuatu. The broker has a global business presence and is known for its high potential risk. It is important to note that Binary.com's regulatory status is classified as offshore.

Binary.com offers a wide range of market instruments, including Forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities. Traders can participate in various financial markets and take advantage of opportunities in different asset classes. However, it is crucial to be aware of the potential risks associated with trading on this platform, especially given the offshore regulatory status.

The broker provides several trading types, including CFDs, Multipliers, and Options, each offering unique benefits and risks. Traders can choose the trading type that aligns with their strategies and risk tolerance. It is important to note that trading with high leverage amplifies both potential profits and losses, and caution should be exercised when using leverage.

Binary.com offers a range of trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot. These platforms provide different features and functionalities to cater to the diverse needs of traders. However, detailed information about platform fees is not readily available, and traders should consider this aspect before choosing a specific platform.

Overall, traders considering Binary.com should be cautious due to the high potential risk associated with the broker's offshore regulatory status and the reported complaints. It is advisable to thoroughly research and understand the risks involved before engaging in trading activities on this platform.

Pros and Cons

Binary.com is a regulated broker by the Labuan Financial Services Authority in Malaysia, but its licenses in Vanuatu and the British Virgin Islands are currently revoked, raising concerns about its offshore regulatory status. The broker claims to be regulated by the Financial Services Agency in Japan, but there are suspicions that it may be a clone. WikiFX has reported 21 complaints against Binary.com in the past 3 months, indicating potential risks and scams. On the positive side, Binary.com offers a wide range of market instruments, including forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities, providing traders with diverse trading opportunities. However, high leverage levels can increase the risk of potential losses, and multipliers amplify both gains and losses, which can be risky. Additionally, there is limited information available on expiry dates and the website for licensed institutions. The broker offers various trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot, each with its own features and capabilities. However, some platforms may have limited customization options and lack advanced trading features. Overall, traders should exercise caution and consider the potential risks associated with Binary.com before engaging in trading activities.

Is Binary.com Legit？

Binary.com is regulated by the Labuan Financial Services Authority in Malaysia under license number MB/18/0024. It operates as Deriv (FX) Ltd with a Straight Through Processing (STP) license. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked and classified as offshore regulatory. The broker also claims to be regulated by the Financial Services Agency in Japan, but it is suspected to be a clone. WikiFX has reported 21 complaints against Binary.com in the past 3 months, raising concerns about potential risks and scams.

Market Instruments

Binary.com offers a diverse range of market instruments for traders, providing them with various opportunities to participate in financial markets.

Forex and CFDs:

Binary.com offers trading in Forex and Contract for Difference (CFDs). CFD trading allows you to speculate on the price movement of an asset without owning the underlying asset. With high leverage, you can trade CFDs by paying only a fraction of the contract's value. This amplifies potential gains but also increases potential losses.

Derivatives:

Derivatives trading allows traders to speculate on the price movements of various financial instruments without owning the underlying assets. It offers flexibility and the opportunity to trade on indices that represent specific markets or sectors. Traders can benefit from the volatility of these instruments and potentially profit from both upward and downward price movements.

Stocks & Indices:

Binary.com allows trading in global stocks of well-known brands and international stock market indices. This provides traders with access to a wide range of stocks and indices at competitive prices, expanding their trading opportunities.

Cryptocurrencies:

Binary.com offers trading in popular cryptocurrencies, taking advantage of the highly liquid cryptocurrency market. Traders can profit from predicting the movement of cryptocurrencies such as Bitcoin, Ethereum, and more.

Commodities:

Binary.com allows trading in commodities such as Metals and Energy. Traders can speculate on the price movements of these assets without owning them, benefiting from high leverage and competitive spreads.

Pros and Cons

Account Types

Binary.com offers two types of accounts: real trading and demo trading. Real trading accounts are for traders who want to engage in live trading with real money, allowing them to access various financial instruments and participate in global markets. On the other hand, demo trading accounts provide a risk-free environment for traders to practice their strategies and explore the platform using virtual funds.

Trading Types

Binary.com offers three exciting trade types: CFDs, Multipliers, and Options.

CFDs:

Trade CFDs on Binary.com to take advantage of leverage and low spreads, which can result in better returns on successful trades. With high leverage, you can open larger positions with a smaller balance in your trading account. It's important to keep in mind that CFDs are traded on margin, meaning you need a deposit to open a leveraged position. Trading CFDs increases both potential profit and loss, as it amplifies market exposure. Stop loss, stop out, and margin call features are available to manage risk.

Multipliers:

Multipliers on Binary.com combine leverage trading benefits with limited risk. By predicting market movements, you can multiply potential profits when the market moves in your favor. Losses are limited to your stake amount. Customizable features such as stop loss, take profit, and deal cancellation enhance risk management. With increased market exposure, you can trade multipliers 24/7 on forex and synthetics. The platform provides a responsive trading experience, with expert and friendly support available.

Options:

Binary.com offers options trading, which allows you to predict market movements and earn payouts without owning the underlying asset. You can trade digital options that offer fixed payouts based on correct predictions or lookbacks that provide payouts based on the optimum high or low achieved by the market during the contract's duration. Options trading requires minimal capital investment, making it accessible to a wide range of traders.

Pros and Cons

How to Open an Account？

To open an account with Binary.com, follow these simple steps:

1. Visit the Binary.com website and click on the “Create a New Account” button to access the login page.

1. On the login page, click on the “Sign Up” option to begin the account creation process.

3. Enter your email address in the provided field to initiate the signup process.

4. Review the information regarding the creation of a demo account and confirm your age as 18 or older.

5. By clicking “Create demo account,” you acknowledge that Binary.com may use your email address to send you information about their products, services, and market news. You can unsubscribe from these emails at any time within your account settings.

6. Alternatively, you may have the option to sign up using alternative methods specified on the page.

Leverage

Binary.com offers different types of leverage depending on various factors. The leverage used at Binary.com is dynamic, with a range from 1:300 to 1:1000. It's important to note that such high leverage levels may not be suitable for inexperienced traders. The use of high leverage carries significant risk, as it amplifies both profits and losses. Traders should exercise caution and consider their risk tolerance before utilizing high leverage ratios.

Minimum Deposit

Binary.com offers flexibility in deposit and withdrawal options. The minimum deposit and withdrawal amounts vary depending on the payment method, with e-wallets allowing as low as 5 to 10 USD/EUR/GBP/AUD. Notably, Binary.com stands out with a minimum deposit requirement of just $5, making it more accessible compared to other brokers that typically require a minimum deposit of $250.

Deposit & Withdrawal

Binary.com offers a wide range of payment and withdrawal methods for its users. The specific fees for deposit and withdrawal are not provided by Binary.com.

Credit/Debit Cards: Binary.com accepts various credit/debit cards such as Visa, Visa Electron, Mastercard, Maestro, Diners Club International, and JCB. The minimum and maximum deposit and withdrawal amounts vary, and instant processing is available for deposits. Withdrawals may take up to 15 working days to reflect on the card, and Mastercard and Maestro withdrawals are limited to UK clients.

E-wallets: E-wallet options supported by Binary.com include Fasapay, Perfect Money, Skrill, Neteller, Webmoney, Paysafecard, Jeton, Sticpay, Airtm, Boleto, Paylivre, Online Naira, Trustly, Astropay, OneForYou, and Advcash. The deposit and withdrawal limits vary for each method, and instant processing is available for deposits. Withdrawal processing time is typically 1 working day, but may vary depending on the specific e-wallet provider.

Online Banking: Binary.com supports instant bank transfers, PayTrust, Help2Pay, ZingPay, and NganLuong for online banking transactions. The minimum and maximum deposit and withdrawal amounts vary for each method. Deposit processing time is usually 1 working day, while withdrawal processing time may vary from 1 to 3 working days.

Cryptocurrencies: Binary.com accepts deposits in cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Usd Coin, and Tether. There is no minimum deposit requirement for cryptocurrencies, and the minimum withdrawal amounts are specified for each cryptocurrency. Deposit processing time is based on confirmation, and withdrawal processing time is subject to internal checks.

Fiat Onramp: Binary.com provides a fiat onramp option where users can buy cryptocurrencies on popular exchanges. The supported methods include Changelly, and Banxa, allowing users to purchase cryptocurrencies with USD, EUR, GBP, AUD, BTC, LTC, USDT, and USDC. The minimum deposit amount and deposit processing time vary depending on the chosen method.

Also, Binary.com offers a Deposit and Withdrawal process with varying minimum amounts depending on the chosen payment method. The minimum deposit and withdrawal amount can range from 5 to 10 USD/EUR/GBP/AUD when using e-wallets. It is important to note that the specific minimum amounts may vary for different payment methods. To obtain comprehensive information about the minimum deposit and withdrawal amounts for each payment method, it is advisable to refer to the Payment Methods page provided by Binary.com.

Trading Platforms

1. Deriv MT5: Deriv MT5 is an all-in-one CFD trading platform that provides access to various asset classes, including forex, stocks & indices, cryptocurrencies, commodities, and derived indices. It offers 24/7 trading and multiple trading assets on a single platform. With its quick demo account sign-up and regulation by a trusted industry pioneer, Deriv MT5 is suitable for both new and experienced traders.

1. Deriv X: Deriv X is a customisable multi-asset trading platform that allows trading of CFDs on forex, commodities, stocks & indices, cryptocurrencies, and derived indices. It offers a versatile trading experience with features designed to fit individual trading styles. Traders can trade on multiple markets simultaneously, customise their trading environment, and access intuitive tools such as dashboards, custom watchlists, and feature-rich charts.

1. Deriv EZ: Deriv EZ is a user-friendly CFDs trading platform that offers instant access to a wide variety of assets, including forex, stocks and indices, commodities, cryptocurrencies, and derived indices. It provides a seamless trading experience with no additional account ID or password required. With 24/7 trading availability, Deriv EZ allows traders to easily start trading, trade their favorite assets on a single platform, and access trading tools and indicators for informed decision-making.

1. Deriv GO: Deriv GO is a mobile app designed for trading multipliers on the go. It offers 24/7 trading of forex, derived indices, and cryptocurrencies. With user-friendly features, easy access to trades, and the ability to amplify profits up to 1000x with multipliers, Deriv GO provides a trading experience for traders who prefer trading on mobile devices.

1. SmartTrader: SmartTrader is an all-in-one CFD trading platform that offers a wide range of tradable assets, zero commissions, and 24/7 trading. It provides a simple and user-friendly interface for traders to make informed decisions.

1. Deriv Trader: Deriv Trader is a user-friendly trading platform offered by Binary.com. It allows traders to engage in forex, commodities, cryptocurrencies, and indices markets. The platform offers customizable chart types and trade types, with trade durations and a minimum stake of $0.35. Traders can make informed decisions using technical indicators and widgets. Overall, Deriv Trader provides a simple and versatile trading experience.

1. Deriv Bot: Deriv Bot is a platform that allows traders to automate their trading ideas without the need for coding. Traders can build their own trading robots using pre-built strategies or create their own from scratch. With a variety of assets to choose from, zero cost to build bots, and performance tracking features, Deriv Bot offers a solution for traders interested in algorithmic trading.

1. Binary Bot: Binary Bot is a platform that enables traders to automate their trading ideas without coding. It offers a range of assets to create trading bots, including pre-built strategies and the option to build custom strategies visually. Traders can use analysis tools, indicators, and logic such as take profit and stop loss to optimize their bot's performance. Binary Bot allows traders to track the bot's profitability and offers integrated help, tutorials, saving strategies on Google Drive.

Trading Tools

Margin Calculator:

The margin calculator provided by Binary.com allows traders to estimate the margin required to hold their positions. This calculation takes into account factors such as leverage, volume lot, and the trader's Deriv MT5 account balance. By using the margin calculator, traders can have a better understanding of the margin requirements for their trades.

Swap Calculator:

The swap calculator helps traders calculate the overnight fees associated with holding open positions. These fees can be positive or negative, depending on the swap rate. By using the swap calculator, traders can assess the potential costs or earnings from holding positions overnight, allowing for better risk management.

Pip Calculator:

The pip calculator is a useful tool for determining the value of pips in trades. It helps traders manage their risk by providing insight into the potential profits or losses based on pip movements. This information is valuable for setting appropriate stop-loss and take-profit levels.

PnL for Margin:

The PnL (Profit and Loss) margin calculator helps traders estimate the stop-loss and take-profit levels, as well as the pip value for their contracts. This information assists in mitigating risk when entering buy or sell positions. By using the PnL margin calculator, traders can plan their trades with a better understanding of potential risks and rewards.

PnL Multipliers:

The PnL multipliers calculator is specifically designed for traders using multipliers. It estimates the level and amount of the stop-loss and take-profit orders for contracts, helping traders manage their risk in case the market price moves against their predictions. This tool is particularly useful when trading with leveraged products.

Customer Support

Binary.com offers customer support in various languages, as their website is translated into multiple languages. Traders can contact the support team through live chat, with the necessary details available in the “Contact Us” section of the website. Additionally, Binary.com provides contact information for different regions and countries.

For English support, traders can reach out via the phone number 08000119847. German support is available at +44(0)1666 800042, and French support can be contacted at +44(0)1666 800042. Traders can also connect with Binary.com through email at support@binary.com or via their Facebook page.

Binary.com has multiple offices located worldwide. In Europe, their offices are in the United Kingdom, France, Malta, Cyprus, and Guernsey. In Asia, Binary.com has offices in Malaysia, including Cyberjaya and Labuan, as well as in Ipoh, Melaka, and Singapore. They also have offices in Dubai, Jordan, Belarus, Rwanda, Paraguay, the Cayman Islands in the Caribbean, and Port Vila in Vanuatu.

These various support channels and office locations allow traders to seek assistance and get in touch with Binary.com according to their specific needs and geographical location.

Conclusion

In conclusion, Binary.com is a regulated broker operating under the Labuan Financial Services Authority in Malaysia with a Straight Through Processing (STP) license. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked, raising concerns about its offshore regulatory status. The broker has also been reported for 21 complaints in the past 3 months, indicating potential risks and scams. While Binary.com offers a wide range of market instruments, including forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities, traders should be cautious of the high leverage that can lead to increased risk and potential losses. The platform lacks transparency regarding fees and expiry dates, and there is limited information available about licensed institutions. Overall, it is important for traders to carefully consider the potential disadvantages and risks associated with Binary.com before engaging in trading activities.

FAQs

Q: Is Binary.com regulated？

A: Yes, Binary.com is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia under license number MB/18/0024. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked and classified as offshore regulatory.

Q: What market instruments does Binary.com offer？

A: Binary.com offers a diverse range of market instruments, including Forex and CFDs, derivatives, stocks & indices, cryptocurrencies, and commodities.

Q: What types of accounts does Binary.com offer？

A: Binary.com offers two types of accounts: real trading accounts for live trading with real money and demo trading accounts for practicing strategies with virtual funds.

Q: What are the trading types offered by Binary.com？

A: Binary.com offers CFDs, Multipliers, and Options trading. CFDs allow leverage trading with low spreads, multipliers combine leverage with limited risk, and options trading allows predictions and earnings without owning the underlying asset.

Q: How can I open an account with Binary.com？

A: To open an account with Binary.com, visit their website, click on “Create a New Account,” and follow the signup process by entering your email address and confirming your age.

Q: What leverage does Binary.com offer？

A: Binary.com offers dynamic leverage ranging from 1:300 to 1:1000, depending on various factors. However, high leverage levels may not be suitable for inexperienced traders, and caution should be exercised.

Q: What is the minimum deposit at Binary.com？

A: The minimum deposit at Binary.com depends on the payment method used and can vary. E-wallets allow as low as 5 to 10 USD/EUR/GBP/AUD, while other methods may have different minimums. Binary.com stands out with a minimum deposit requirement of just $5.

Q: What payment and withdrawal methods does Binary.com offer？

A: Binary.com offers a wide range of payment and withdrawal methods, including credit/debit cards, e-wallets, online banking, cryptocurrencies, and fiat onramp options. The specific fees for deposit and withdrawal are not provided by Binary.com.

Q: What trading platforms are available on Binary.com？

A: Binary.com offers several trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot. Each platform provides different features and trading options.

Q: What trading tools does Binary.com provide？

A: Binary.com provides trading tools such as a margin calculator to estimate margin requirements, a swap calculator to calculate overnight fees, and a pip calculator for precise pip value calculations.