If i would like to buy and hold investments in stock market for 5-10 years, should i go with SaxotraderGO? Does the platform allows me to have long term holding or only for day trading?
SaxoTraderGO is their trading platform - you will still need a Saxo account to trade on it, which comes with its associated fees. Their platform allows for long-term holding.
Generally, I do not recommend Saxo for their currency conversion fee (0.75%), custody fee (0.12% p.a.), and high commissions of minimum 8 GBP on the LSE if you plan to hold Irish-domiciled ETFs for lower withholding taxes.
To determine what broker is best for you, you need to consider a few things first:
Commissions (cost per trade)
Fees (custody, currency conversion, dividend handling, corporate action)
Ease of use
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Yes, SaxotraderGO allows you to have long term holdings. However if you are just starting out and on...
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