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SAXO Markets
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Saxo Markets Review 2020
Saxo Capital Markets Pte Ltd (“Saxo Markets”) is a licensed subsidiary of Saxo Bank A/S, an online trading and investment specialist. Saxo Markets have been operating in Singapore since 2006 and they are known for giving competitive rates and their seamless online trading platform. Saxo places large importance in the protection of their clients' funds regardless of the type of accounts.
3.9
38 Reviews
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Most Recent
- Updated 3d ago
Purchased
SAXO Markets
Easy application process and funding procedures. PayNow is almost instant deposits too. Easy UI on website and mobile app. Very user friendly especially for beginners!0 comments0Post - Updated on 17 Aug 2020
Purchased
SAXO Markets
Still playing with the demo account. Comparing to DBS Vickers and POEM, SAXO shown me that I've been managing my platforms instead of managing my trades. Once consolidate my positions, will transfer my funds over. My only worries is that many reviews had been stating that the conversion fees is high, and not much admin support.0 comments0Post - Updated on 14 Aug 2020
Purchased
SAXO Markets
The fees are pretty low for Saxo, but do take note that you need to be active in investing or they will charge you a certain fee.0 comments0Post - Updated on 05 Aug 2020
Purchased
SAXO Markets
[Commission Rates] [Others] 0.75% on any USD exchange. Extremely high. [Customer Service]Very bad customer service. Penalize on customer mistake and inflexible0 comments0Post - Updated on 13 Jul 2020
Purchased
SAXO Markets
Withdrew 8k USD and converted back to SGD and became $10994. If you take 1.39 rate I am essentially paying 8000x1.39-10994=126sgd! Not sure where did all the money go to. So many hidden fees. Not to mention the initial deposit of fees.0 comments0Post
Types of Services Saxo Markets Provides
Saxo Markets offers a few types of services on their trading platform.
- SaxoTraderGO: Beginner friendly interface for trading, complete with expert analysis and risk-management tools
- SaxoTraderPRO: Advanced trading platform for traders or investors with the similar tools as SaxoTraderGO
- SaxoInvestor: Invest easily with SaxoInvestor platform
Types of Account Available With Saxo Markets
Saxo Markets offers various types of account, catered to the different needs of individual investor.
The tiers of account Saxo Markets provide are:
Classic
Minimum Initial Funding: S$3,000
Benefits:
- Tight entry prices
- Best-in-class digital service and support
- 24/5 technical and account support
Platinum
Minimum Initial Funding: S$300,000
Benefits:
- Up to 30% lower prices
- Best-in-class digital service and support
- 24/5 technical and account support
- Priority customer support
VIP
Minimum Initial Funding: S$1,500,000
Benefits:
- Best prices
- Best-in-class digital service and support
- 24/5 technical and account support
- Priority customer support
- Direct access to our trading experts, 24/7
- 1:1 SaxoStrats access
- Exclusive event invitations
Brokerage Fees & Charges of Saxo Markets
The fees and charges of Saxo Markets are as follows:
FX Pricing
Currency Pair | Classic | Platinum | VIP |
|---|---|---|---|
EUR USD | 0.6 | 0.5 | 0.4 |
GBP USD | 0.7 | 0.6 | 0.4 |
EUR JPY | 0.7 | 0.6 | 0.4 |
USD JPY | 0.6 | 0.5 | 0.4 |
AUD USD | 0.5 | 0.4 | 0.3 |
FX Pricing Saxo Markets (Minimum spreads)
Stock Pricing
Exchange | Classic | Platinum | VIP |
|---|---|---|---|
NASDAQ | 0.06% (min. USD 4, max. USD 100)* | 0.05% (min. USD 4, max. USD 100)* | 0.04% (min. USD 3, max. USD 100)** |
New York Stock Exchange | 0.06%(min. USD 4, max. USD 100)* | 0.05% (min. USD 4, max. USD 100)* | 0.04% (min. USD 3, max. USD 100)** |
London Stock Exchange | 0.10% (min. GBP 8) | 0.07% (min. GBP 7) | 0.05% (min. GBP 5) |
Hong Kong Exchange | 0.15% (min. HKD 90) | 0.12% (min. HKD 80) | 0.10% (min. HKD 60) |
Singapore Exchange | 0.08% (min. SGD 10) | 0.08% (min. SGD 10) | 0.08% (min. SGD 10) |
Shanghai Stock Exchange | 0.15% (min. CNH 40) | 0.10% (min. CNH 30) | 0.08% (min. CNH 20) |
Execution prices (for main exchanges)
* For shares priced under USD 10, 0.01 USD/share, min USD 4, max USD 100
** For shares priced under USD 10, 0.007 USD/share, min USD 3, max USD 100
Bonds Pricing
Bond Type | Classic | Platinum | VIP |
|---|---|---|---|
European government bonds | 0.20% (min. EUR 80) | 0.10% (min. EUR 60) | 0.05% (min. EUR 50) |
US government bonds | 0.20% (min. EUR 80) | 0.10% (min. EUR 60) | 0.05% (min. EUR 50) |
European and US corporate bonds | 0.20% (min. EUR 80) | 0.10% (min. EUR 60) | 0.05% (min. EUR 50) |
Emerging Markets bonds | 0.20% (min. EUR 80) | 0.10% (min. EUR 60) | 0.05% (min. EUR 50) |
Commissions
Custody Fees
Custody fees are what the brokerage charges you for safekeeping services.
Classic | Platinum | VIP | |
|---|---|---|---|
Custody Fee (p.a) | 0.12% | 0.12% | 0.06% |
Saxo Custody Fee
Saxo Market Contact Information
- Saxo Markets hotline: +65 6303 7800 (Monday to Fridays, 8.30am-5.30pm)
- Email: [email protected]
- Address: 3 Church Street, #30-00 Samsung Hub Singapore 049483