Saxo Review Summary in 10 Points
Founded	1992
Headquarters	Hellerup, Denmark
Regulation	ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS
Market Instruments	Forex, stocks, futures, options, bonds, ETFs and CFDs
Demo Account	Available
Leverage	1:100
EUR/USD Spread	0.4 pips
Trading Platforms	SaxoInvestor, SaxoTraderGO, SaxoTraderPRO
Minimum deposit	HKD10,000
Customer Support	24/5 phone, email

What is Saxo？

Saxo is a Danish investment bank founded in 1992. It provides online trading and investment services in multiple assets, including stocks, bonds, forex, options, futures, and CFDs, through its proprietary trading platforms. 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 the Danish Financial Supervisory Authority, the UK Financial Conduct Authority, and the Monetary Authority of Singapore. The bank also has a banking license and is a member of the Danish guarantee fund for depositors and investors.

What Type of Broker is Saxo？

Saxo is a multi-asset broker that offers access to a wide range of financial instruments, including forex, stocks, bonds, ETFs, futures, options, and more. The broker provides trading services through its advanced trading platforms and caters to both retail and institutional clients. Saxo operates as a hybrid broker, offering both direct market access (DMA) and market making services.

Pros & Cons

Saxo is a well-established and reputable broker with a range of trading platforms, instruments, and research tools.

However, the broker's high fees, minimum deposit requirement, and lack of negative balance protection may not be suitable for all traders. Additionally, some users have reported poor customer service experiences.

Pros	Cons
• Wide range of financial instruments available	• High minimum deposit requirement
• Access to multiple markets and exchanges	• Fees and commissions may be higher than competitors
• User-friendly trading platforms	• Inactivity fee for dormant accounts
• Advanced trading tools and research	• Limited educational resources
• Regulated by top-tier financial authorities	• Limited customer support options

Overall, it is important for traders to carefully consider their own needs and preferences before choosing Saxo or any other broker.

Saxo Alternative Brokers

There are many alternative brokers to Saxo, each with their own unique features and benefits. Some popular alternatives include:

• Interactive Brokers: A well-established broker with a wide range of trading instruments and low commissions.

• TD Ameritrade: Offers a powerful trading platform and a variety of educational resources.

• E*TRADE: A popular broker with a user-friendly platform and no account minimums.

• IG: A global leader in online trading, offering a wide range of markets and advanced trading tools.

• Plus500: A broker known for its user-friendly platform and tight spreads.

Ultimately, the best alternative broker for you will depend on your specific trading needs and preferences. It's important to research and compare different brokers to find the one that best fits your individual needs.

Is Saxo Safe or Scam？

Saxo is a legitimate and reputable broker with a long track record of providing reliable trading services. It is regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Danish Financial Supervisory Authority (DFSA). Additionally, Saxo is a member of several investor protection funds, such as the Financial Services Compensation Scheme (FSCS) in the UK, which protects clients' funds up to a certain amount in case of the broker's insolvency. Therefore, based on its regulation and investor protection measures, Saxo can be considered a legitimate broker.

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:

Security Measures	Description
Regulation	FSA, FINMA, FCA, ASIC, DFSA
Segregated Accounts	Client funds are held in segregated bank accounts to protect them in case of insolvency.
Two-Factor Authentication	As an extra layer of security for client accounts
SSL Encryption	The Saxo website and platform are secured with SSL encryption to protect user data
Investor Compensation Scheme	A member of the Danish Investor Compensation Scheme, which provides additional protection to clients in case of insolvency

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 appears to be a reliable and trustworthy broker. It is regulated by reputable authorities, has been in operation for several years. However, we also find that some users complain about their bad experience with Saxo. Take care!

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.

Accounts

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

• Classic Account: A traditional account with minimum funding of HKD10,000, which offers a range of trading tools and resources.

• Platinum Account: A premium account for high-net-worth individuals, with a minimum funding requirement of HKD 1,500,000.

• VIP Account: An exclusive account for ultra-high-net-worth individuals, with a minimum funding requirement of HKD 8,000,000.

• Islamic Account: A Sharia-compliant account for clients who follow Islamic finance principles.

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

• Joint Account: An account for two or more individuals who want to trade together.

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 for clients to practice trading before committing to a live account.

Opening an account with Saxo Bank

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 at $3 per share for equities, as low as $0.85 per lot for commodities, and $3 per share for ETFs. Futures commissions start as low as $0.85 per lot, bonds commissions start at 0.05%, listed options commissions start as low as $1.25 per lot, and mutual funds commissions are $0 for custody and platform fees.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commission per lot
Saxo	0.4 pips	$3
Interactive Brokers	0.1 pips	$2
TD Ameritrade	0.7 pips	free
E*TRADE	1.0 pips	free
IG	0.75 pips	free
Plus500	0.8 pips	free

Please note that commission rates may vary depending on the specific account type and trading volume. Additionally, some brokers may offer different spreads and commissions for other currency pairs or financial instruments. It's important to do your own research and carefully consider the costs and fees of each broker before making a decision.

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 to SaxoTraderGO, 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.

Overall, Saxo's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker	Trading Platform
Saxo	SaxoTraderGO, SaxoTraderPRO, SaxoInvestor
Interactive Brokers	Trader Workstation, WebTrader, IBKR Mobile
TD Ameritrade	Thinkorswim, Web Platform, TD Ameritrade Mobile App
E*TRADE	Power E*TRADE, E*TRADE Web, E*TRADE Mobile
IG	IG Trading Platform, IG Web Platform, IG Trading App
Plus500	Plus500 WebTrader, Plus500 Mobile App

Deposits & Withdrawals

Saxo Bank supports several deposit and withdrawal methods, including Visa, MasterCard, Visa Debit, Visa Electron, MasterCard Debit, Maestro (for UK residents), Visa Dankort (for Denmark residents), Carte Bleue (for France residents). The company does not charge any fees for deposits and withdrawals, but if an investor makes a withdrawal request via manual withdrawal, a processing fee of 40 EUR will be charged.

Minimum deposit requirement

Saxo has different minimum deposit requirements depending on the type of account you open and your country of residence. For example, the minimum deposit for the Classic account is HKD10,000.

However, these amounts can vary depending on your location and the specific account type. It's important to check with Saxo directly or on their website for the most up-to-date information on minimum deposit requirements.

Saxo minimum deposit vs other brokers

	Saxo	Most other
Minimum Deposit	HKD10,000	$100

Saxo Money Withdrawal

To withdraw funds from your Saxo account, you need to follow these steps:

Step 1: Log in to your Saxo account using your credentials.

Step 2: Click on the “Account” tab located on the top right corner of the screen.

Step 3: Click on “Withdraw Funds” from the account menu options.

Step 4: Select the account you wish to withdraw funds from, enter the amount you want to withdraw, and select the currency you want to withdraw in.

Step 5: Choose the preferred withdrawal method from the available options and provide the necessary details such as bank account information or credit/debit card information.

Step 6: Review the details of your withdrawal request and click on “Submit.”

Note that Saxo may require additional verification or documentation before processing your withdrawal request. The processing time for withdrawals may vary depending on the chosen method and your bank's processing time.

Fees

Swap costs, sometimes called overnight fees, are assessed on overnight open positions at Saxo Bank. These are expressed as interest and, depending on the trader's position, might be either charged to or credited to his or her account.

Traders of the Muslim faith, for whom the payment of interest is forbidden, are out of luck with Saxo Bank because they don't have the option of opening an Islamic account. With the wide variety of deposit currencies offered by Saxo Bank, customers will have a decreased chance of incurring conversion fees.

Amounts credited to your account are converted from their original currency at the mid-point FX Spot rate plus/minus the margins and spreads indicated below. This includes both trading fees and profits/losses incurred as a result of your trading activities.

Fees for account inactivity are also a reality for inactive accounts. After the initial six months, the rate increased to $150, which is quite a bit.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
Saxo	Free	Free	$150 after six months of inactivity
Interactive Brokers	Free	$0-$10	$20/month if account balance < $2,000
TD Ameritrade	Free	Free	Free
E*TRADE	Free	$0-$25	Free
IG	Free	Free	$18/month after 24 months of inactivity
Plus500	Free	Free	$10/month after 3 months of inactivity

Customer Service

Saxo provides customer support through several channels, including phone, email, and social media (Facebook, LinkedIn, Twitter and YouTube). The broker offers 24/5 customer service in multiple languages, including English, Chinese, French, German, Italian, Japanese, Portuguese, and Spanish.

Saxo also provides a comprehensive help center on its website that includes an extensive knowledge base, FAQs, trading guides, and video tutorials. The broker's customer service is generally considered to be of high quality, with knowledgeable representatives who are responsive and helpful.

Pros	Cons
• 24/5 customer service through multiple channels	• No 24/7 support service
• Dedicated support for VIP clients	• Phone support may have long wait times
• Extensive FAQ section on the website	• No dedicated account manager for non-VIP clients
• Personalized support for complex trading needs	• No local offices in some countries
• Multilingual support available for non-English users

Note: These pros and cons are subjective and may vary depending on the individual's experience with Saxo's customer service.

Education

Saxo Bank provides excellent market research in addition to a wealth of instructional resources like video courses, webinars, and events. Saxo Bank's SaxoStrats Experts group consists of eight analysts and strategists who are tasked with providing coverage of the various asset classes available to customers. It's apparent that this broker places a high value on its research team and recognizes the significance of this service, both for its clients and as a global investment bank. The classes are a wonderful way for newcomers to get their feet wet and become acquainted with the resources that are at their disposal. Videos are easy to follow and understand, helping novice traders quickly get up to speed and lay a solid groundwork from which to expand their knowledge. Saxo Bank specialists will be hosting webinars.

Conclusion

In conclusion, Saxo is a well-established broker. The broker offers a wide range of trading instruments, including forex, stocks, options, futures, and CFDs, and provides access to various markets worldwide. Saxo also offers an advanced trading platform and a user-friendly mobile app, making it easy for traders to access the markets on the go.

While Saxo has some of the highest fees in the industry, the broker's competitive spreads and tight execution make it a popular choice for traders. Additionally, Saxo's robust educational resources and customer support make it an ideal choice for traders of all skill levels who want to improve their knowledge and skills in trading.

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 and minimum deposit requirements before opening an account. Also, dont forget check their user reviews on the Internet.

Frequently Asked Questions (FAQs)

Q 1:	Is Saxo regulated？
A 1:	Yes. It is regulated by ASIC, FCA, FSA, SFC, BDF, CONSOB, FINMA, MAS.

Q 2:	Does Saxo offer demo accounts？
A 2:	Yes.

Q 3:	Does Saxo offer the industry-standard MT4 & MT5？
A 3:	No. Instead, it offers SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO.

Q 4:	What is the minimum deposit for Saxo？
A 4:	The minimum initial deposit to open an account isHKD10,000.

Q 5:	Is Saxo a good broker for beginners？
A 5:	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 is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.

General Information

Yuanta Futures Review Summary
Registered Country/Region	Taiwan
Regulation	TPEx
EUR/USD Spread	N/A
Trading Platforms	the cutting-edge Yuanta Futures Wizard app
Minimum Deposit	N/A
Customer Support	telephone, Facebook, Line

What is Yuanta Futures？

Yuanta Futures Co., Ltd is a Taiwan-based business that specializes in futures brokerage and proprietary trading. It was established in 2011. The company runs its businesses through futures brokerage, which includes domestic futures brokerage, domestic options brokerage, offshore futures brokerage, and offshore option brokerage services; proprietary business, which involves trading in securities, futures, and options, among other things; consultancy services, which include futures market analysis and advices, futures-related book publishing and seminars, as well as futures managing services, proprietary trading, and other businesses. TPEx has granted Yuanta Futures Co., Ltd authorization and regulation; nevertheless, the entire scope of its regulatory license has not been made public.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros	Cons
• Flexible and Convenient Platform	• Limited Information for Evaluation
• Valid regulation	• Limited information on the websiite
• Many years' experience in the industry	• A report of withdraw difficulty
• Good customer support

Yuanta Futures Alternative Brokers

There are many alternative brokers to Yuanta Futures depending on the specific needs and preferences of the trader. Some popular options include:

• GF Futures - A highly regarded futures broker known for its comprehensive range of services and expertise, making it a reliable choice for clients seeking reliable futures brokerage solutions.

• HUISHANG FUTURES - A prominent futures broker that stands out for its strong research capabilities and customer-focused approach, making it a recommended option for investors seeking in-depth market analysis and personalized support.

• HUALIAN FUTURES - A well-established futures broker known for its robust technological infrastructure and user-friendly platforms, making it a recommended choice for clients looking for advanced trading tools and a seamless trading experience.

Is Yuanta Futures Safe or Scam？

Yuanta Futures operates under the regulation of TPEx (Taipei Exchange), which provides a level of oversight and compliance to their operations. However, it is important to note that there have been reports from users encountering difficulties with fund withdrawals and incidents related to potential scams associated with Yuanta Futures. These reports raise concerns and highlight the need for caution when considering Yuanta Futures as a trading option.

Products & Services

• Futures Introducing Broker (IB)

Yuanta Futures IB business has 21 clients, including Yuanta Securities, Taiwan Cooperative Securities, Kuanz Ho Securities, Taichung Bank Securities, Fenglong Securities, and others, as well as five clearing houses including Yuanta Securities, Optiver Taiwan, and Oriental Securities Corporation; additionally, with a convenient network of electronic channels (mobile phone app and internet platform), Yuanta Futures provides service without boundaries.

• FINI Department

The team at Yuanta Futures offers top-notch services to foreign institutional investors. These services include domestic agent services, manual order placement, a variety of quick and secure electronic order placement platforms, and tailored after-hours reports to fulfill the specific requirements of all of our FINI clients.

• Leverage Transaction Merchant

Yuanta Futures claims to offer clients and institutional investors a wide variety of profit and hedging channels because Yuanta Futures was the first to introduce foreign currency margin trading. The broker provide services in more than thirty foreign currencies, as well as program trading strategies, and on the basis of our advantages as a leading brand in options and long-term development of foreign exchange futures. In the future, Yuanta will work to gradually introduce the buying of Taiwan stock options, forward contracts, option contracts, exchange contracts, contracts for difference, and other related products, or combination contracts, like links to fixed income products, as the regulatory authorities continue to open the market.

Trading Platform

Yuanta Futures offers a flexible and convenient electronic operating platform - the cutting-edge Yuanta Futures Wizard app - providing consumers a fresh program trading experience. Yuanta Futures has Taiwan's strongest sales force and a wealth of professional expertise. Yuanta Futures has attempted to dispel the mystique and danger that previously surrounded the futures market and create a new age of riches and stability for its clients.

See the trading platform comparison table below:

Broker	Trading Platforms
Yuanta Futures	the cutting-edge Yuanta Futures Wizard app
Degiro	web-based trading platform
IG	web and mobile trading platforms
Avatrade	AvatradeGO, MT4/MT5

User Exposure on WikiFX

On our website, you can see reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.

Customer Service

The Yuanta Futures customer support can be reached through telephone: 886-2-23261000 / 0800-333-338, as well as Facebook and Line.

Address: 3F., No. 77, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 104089 , Taiwan (R.O.C.).

Conclusion

In conclusion, the current situation surrounding Yuanta Futures raises significant concerns regarding the ability to withdraw funds associated with the company. While Yuanta Futures operates under the regulation of TPEx, the alleged difficulties in the withdrawal process have eroded trust and confidence among investors.

It is crucial for regulatory authorities to thoroughly investigate these reports and take appropriate actions to protect the interests of investors and uphold the integrity of the financial market. Addressing these concerns is paramount to restoring trust in Yuanta Futures as a reliable financial institution.

Frequently Asked Questions (FAQs)

Q1: What is the regulatory authority overseeing Yuanta Futures' operations？

A1: Yuanta Futures is regulated by TPEx (Taiwan Stock Exchange).

Q2: How can customers contact Yuanta Futures' customer support？

A2: Customers can reach Yuanta Futures' customer support through telephone at 886-2-23261000 / 0800-333-338. They can also contact customer support through Facebook and Line.

Q3: What is the electronic operating platform provided by Yuanta Futures？

A3: Yuanta Futures offers the Yuanta Futures Wizard app, which is a flexible and convenient electronic operating platform designed to enhance the trading experience for users.