facebookIs it worth it to try out trading stock with SAXO using their "free trial" that ends in about 2 months? What are the considerations? Will I be locked in in anyway after the commission free period ends - Seedly

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Bailoh Denselhi

STB at SGX

22 Jun 2021

General Investing

Is it worth it to try out trading stock with SAXO using their "free trial" that ends in about 2 months? What are the considerations? Will I be locked in in anyway after the commission free period ends

SAXO "free trial"

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Tan Choong Hwee

22 Jun 2021

Solutions Specialist at Providend

Well, you don't invest/trade stocks because of free commission. You should first learn about how to invest/trade before opening a live trading account and trade.

If you want to try out stock trading without committing any money, you can open a free demo trading account. Only switch to live trading account and put in money after you find yourself comfortable with stock trading. Even that, start with small capital because the emotional aspect of trading is lacking in demo trading.

There is no lock in after commission free period. Regular commission charges applies.

Hi there!

I doubt you'll be locked in after the commission-free period ends. The only difference is that you'll need to start paying commission fees for every trade you make. Personally, Saxo is a pretty intuitive brokerage with a clean and simple UI which makes it beginner-friendly, but the standard commissions are rather high ($4/trade iirc) + 0.12% annual fee. If you don't mind paying then by all means go ahead, but there are cheaper alternatives out there like Tiger, Moomoo and IB. I've stopped using Saxo since the start of the year and started using IB instead for its cheaper fees.

Hope this helps!

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