Saxo Bank Reprimanded By The Danish FSA

5 stars based on 78 reviews

Saxo Bank enables clients to trade currencies, shares, CFD contracts, futures, options and other derivatives as well as portfolio management via their online trading platform - SaxoTrader 2. SaxoTrader 2 has been internally developed by Saxo Bank and is available to investors directly through Saxo Bank or through one of their white-labelled partners usually other banks and brokerages.

They have, in fact over sixty partners globally of whom, currently, twelve are in Asia. Essentially, Saxo Trader is a good all round platform offering many products to trade, but as with all saxo bank forex broker review, they are saxo bank forex broker review your money if they can get it.

Having asked a Saxo Bank trader through their 24 hours chat line for his view on spot gold over the next two days they said bullish but with no reasons to reassure saxo bank forex broker review. I asked the same question 20 minutes later and the response was bearish. When I asked why the sudden change, the told me that that is what the 15 minute graph is showing. Their platform is quite complex this in the positive sense of term but canceling orders in a fast market can be a nightmare.

I rang to close an order when I was away from the system and it took exactly 7 minutes from when they answered the phone to close the position. This turned a winning trade into a loosing one. If you are already loosing the order takes 10 seconds to close! So, it's not the best broker on the planet, but I think they are - at least - honest.

The customer service was also good for me. Saxo Bank offers a wide range of tools in the home page of the site, some of which include: The good thing about all these tools is that most of them can be integrated saxo bank forex broker review your pda device or mobile phone by SMS WAP or directly by phone alert.

I asked my Saxo Bank account manager about their policy towards scalping saxo bank forex broker review he told me that scalping is allowed at Saxo bank however sniping is not. He defined sniping as using a software to perform very fast trades targeting few pips per trade.

He said that using a software for sniping eliminates risk since the software know exactly the market direction.

Saxo bank forex broker review added that Saxo bank have a powerful set of systems that can easily catch a sniper and prevent him from trading. And your first An insurance guarantee fund for all Danish banks covers all clients regardless of Nationality and Residence.

A did for me, try manual entries and exits. It has helped me tremendously. But, I have to watch the screen more often doing saxo bank forex broker review all manually. It's a give and take. All comments and ratings on this page are the opinion of the reviewer, and do not necessarily represent the views of Financial-Spread-Betting. Where possible, I endeavour to ensure that all ratings are the honest, independent and unbiased view of the reviewer, however, I accept no liability for the views expressed herein.

Go back to Spread Betting Courses.

Software first binary option service vs aaoptions

  • Binaryoptionsedge forum

    Grace download binary options buddy indicators

  • Out optional c#

    Selling puts option strategy

Broker investing market online stock stock stock trading

  • Banshee-extension-lastfmfingerprint 240-4+b1 binary

    Stock trading and taxes in canada

  • Free stock trade uk

    How does buying call options work

  • Binare option netto

    Online trading platform test for railway

How to trade stocks with binary options 60 seconds

25 comments Opzionibinarie einen login europe

Strategy opzioni binarie libri

New York Average Spread: Citi had long served the traditional forex market of large institutions and the move to extend its reach to the growing market of active individual and small institution traders is both strategic and natural in terms of leveraging its existing global forex product suite and expanding client base into this emerging client segment.

CitiFx is a U. CitiFx has incorporated into its trading platform the popular MetaTader 4 trading interface, which includes technical analysis, charting, and expert advisor programs used to interact with trading actions. Saxo Bank, a pioneer and foremost provider of online forex trading and best know for its SaxoTrader trading platform, brings to the partnership its user-friendly online trading technology and best of class facilitation of product and service delivery.

Adapted from Saxo Trader, CitiFx is developed specifically for Citi based on its specifications given its world class product infrastructure. As a large, international bank participating in the forex market, Citi runs an active forex trading on its own behalf. While not promising its dealing desk will be free of making any unintentional trades against its customers, CitiFx is committed to following fair trading practices. The accumulation of a few pips in trade execution difference could mean serious profits for a broker and losses for customers.

Moreover, given Citi as a regulated bank with layered audits and compliances, traders should have more confidence that CitiFx will make efforts on fair dealing with its own customers.

On some less traded and much lower-valued currencies, the spreads can be wildly wide, as high as over basic points pips , such as the target spread for Euro and Russian Ruble. But CitiFx maintains that it can live up to its target spreads as advertised unlike some other brokers that may loosen their tight pricing when executing in live market conditions. Moreover, CitiFx may be able to set narrower spreads for some customers based on their trading volume.

Theoretically, customers should be afforded a spread advantage by dealing with a bank that is a direct participant in the underlying interbank forex market. Investors get a more competitive pricing from a stock broker that is also a market maker inside the exchanges for certain securities.

Credit provided by CitiFx to customers has a maximum limit of The maximum leverage becomes a nominal figure when reduced to arrive at the true or used leverage if one wants to leave enough margin of safety by not taking up all the leverage allowed.

In addition, different margins are set for different currency pairs based on how volatile they are. At CitiFx, leverage can go as low as only A leverage of Beginners in currency trading may not even recognize the currency codes for some less known currencies.

CitiFx is intended for advanced traders and institutions and not a place for forex beginners to practice. And as such, the service does not have a trial or practice account using virtual money as offered by many other brokerages. Such a large account size further demonstrates that CitiFx is only for experienced traders. Some may consider education resources at CitiFx as lacking, but its trading software is to challenge users of advanced levels and not for beginners.

CitiFx does not provide basic, entry-level education mostly needed by beginning users, because its trading platform is designed with the high-end traders in mind. Site tutorials are available as guides for account set up.

Customers are expected to overcome the software learning curve themselves with the help of a free demo account. But be aware of the expiration date on the demo account, as it may not be available when needed for later uses. Information about developments in the currency and other related markets and the economic events behind them is being streamed 24 hours directly onto the trading platform to allow traders to make the most informed trading decisions in real time.

Customer service at CitiFx is considered a major advantage by both many users and the company itself. CitiFx offers during the 5 trading days a hour customer service via telephone on both trading and administrative needs, though there is no online live chat unless you have an instant messenger account already set up. Email support is also available with a response time within 24 hours and the old-fashioned fax is still in use.

All in all, users of CitiFx can expect excellent customer service simply because of the size and history of the parent company that runs it. Retail forex trading and online brokerage service are of special attention to forex regulators. Excess capital concerns about CitiFx, if any, should be rightly addressed by the full backing of its parent bank.

Brokers can go bankrupt from time to time, not by servicing customers and collecting commissions but when they start trading the market themselves by becoming dealers. The failures of Bear Stearns and Lehman Brothers make such a proposition unarguable. Therefore, customers do risk losing deposits they place with their forex brokers. We respect your email privacy.

Please note that Forex trading involves substantial risk of loss, and may not be suitable for everyone. Trading Conditions Dealing Desk As a large, international bank participating in the forex market, Citi runs an active forex trading on its own behalf. Education Some may consider education resources at CitiFx as lacking, but its trading software is to challenge users of advanced levels and not for beginners.

Customer Support Customer service at CitiFx is considered a major advantage by both many users and the company itself. Safety In the U. This entry was written by admin , posted on November 5, at 4: Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.