Saxo Bank is a Danish broker that was established some 25 years ago. By then it was not named Saxo but Midas Fondsmæglerselskab. In 2001 the more commercial name of Saxo Bank was used after they received their banking license.
The growth of the company is owed to the innovative way of offering online brokerage services to their customers. Although Saxo Bank is a real bank they do not offer traditional banking products. Everything is aimed at online servicing and investing.
What is the biggest asset of Saxo Bank? The answer is simple, it is their know-how of building great online trading platforms. Saxo Bank was founded by Lars Seier Christensen and Kim Fournais who still are the majority stock holders of the bank.
TPG Capital has a stake of 30% in the bank and about 10% is owned by Sinar Mas Group. Today Saxo Bank operates 25 offices throughout the world and is headquartered in Copenhagen.
A leader in the creation of trading platforms
You could say that Saxo Bank is more of an IT specialist than a bank. It creates many trading platforms for all sorts of financial products. They offer these trading platforms as a white label solution to more than 100 professional financial institutions all over the world.
They are seen as the global leaders of trading platforms and customers as Barclays and Citibank all use their platforms.
What about the Saxo Bank fees?
Commissions and fees are on an average to low level. They can compete with some other low-cost European online brokers. But compared to many other competitors Saxo Bank is a real bank that falls under the Danish banking guarantee that guarantees refunds up to € 100.000,- in the case the bank goes bankrupt.
Saxo Bank’s availability
Saxo Bank is available in all major European countries. In most cases you will be served in your own language. Another plus is that you can open your account in more than 30 currencies! You also have many options at your disposal such as different account types according to your needs (with or without personal account managers). Of course free demo accounts are available to potential new customers.
What can you trade at Saxo Bank?
You can trade equities, bonds, ETF’s, futures, options and CFD’s. They are linked to all major exchanges in the world and you will find that they offer a very large choice of providers of ETF’s. The use of the online platform is free (depended upon the account you choose).
Separate desktop and mobile trading platforms
Saxo Bank has opted to serve specific trading platforms for mobile and desktop use. This makes sense, both platforms work superbly on both devices. But of course by switching between them you will have to get used of the different lay-out and functions.
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