facebookSAXO Markets Reviews and Comparison - Seedly
Seedly logo
Seedly logo
 

SAXO Markets

  • Overview
  • Reviews (48)
  • Questions (0)
  • More Details
Online Brokerages/SAXO Markets
Online Brokerages/SAXO Markets
3.6
48 reviews
claimed

Unclaimed

This product has not been claimed by the company yet.

USER RATINGS

Customer Support

3.5

User Experience

3.6

SAXO Markets

$5

MINIMUM FEE

0.10% to 0.12%

TRADING FEES

Custodian

STOCK HOLDING TYPE

SAXO Markets

$5

MINIMUM FEE

0.10% to 0.12%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Details

Saxo Markets Review 2021

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.

  • Min Commission Fee: S$5
  • Commission Rate: 0.08%
  • Custody Fee: 0.12% p.a
  • Account Type: Custodian
  • Products available at Saxo Markets: Stocks, CFDs, ETFs, Forex, Futures, Bonds, Commodities, Forex, Mutual Funds

Read More about SAXO Markets
Reviews (48)

3.6

48 Reviews

  • 5
    21
  • 4
    11
  • 3
    2
  • 2
    3
  • 1
    11

Read Review About...

    Most HelpfulMost RecentLow to HighHigh to Low
      Updated 2w ago

      Purchased

      SAXO Markets

      Customer service is non-existent, had problem withdrawing profits. Depositing is a seamless process though.

      0

      Post

      Updated on 01 Feb 2021

      Purchased

      SAXO Markets

      Saxo sucks! Several years ago, saxo promised that trading fee of US stock is 0.01 per share in order to convince me to open an account. But not long after I opened account, Saxo changed its policy and the trading fee of US stock was changed to 0.12%. Because I trade options, it's not easy for me to change a broker. I have to accept its fee revision. Recently I encountered a very strange thing that I never experienced in any platform. Saxo platform doesn't execute my order after the market price already pass through my limit order price. It happened twice with one week! I submitted tickets about this online and have never been replied by saxo. So I called saxo which cannot give a reasonable explanation and refuse to solve the problem. It's so dangerous when Saxo platform cannot be trusted. I will close my account in Saxo.

      0

      Post

      Updated on 15 Jan 2021

      Purchased

      SAXO Markets

      [User Interface] I have a few local accounts but i like Saxo web one the most. User friendly and inspirational contents from the research house [Commission Rates] not the cheapest in the market but it's fine to me. There are restaurants vs hawker, supermarket vs wet market. Their mutual fund is the best, 0 cost. Immediately switched over from FSMOne [Customer Service] I usually help myself before asking people stupid question. They are really good service manager if you reach out the correct way

      0

      Post

      Updated on 13 Jan 2021

      Purchased

      SAXO Markets

      Had to join just to warn people to stay away from this broker. I opened my account back last year and was consistently trading options. Fast forward til today, I found myself suddenly unable to trade options. I opened tickets and made calls to the hotline, as I had a key trade I needed to make that was time sensitive. I had to wait 3 HOURS on the hotline and finally queued to position 1. Guess what? After getting to position 1, I had my call picked up and immediately DROPPED. This caused me to lose my trading opportunity that was worth thousands as that stock made a 100% gain in a day causing me to miss my option entry. The company is a sham and I would advise all self respecting people to stay away.

      0

      Post

      Updated on 05 Jan 2021

      Purchased

      SAXO Markets

      Saxo appears as a friendly platform, with lower fees to begin with. But your money is not safe here. I called the customer care support re: a withdrawal, and the wait time was 1 hour, 20 minutes. Even after that I could not get to speak with the customer representative, and they re-calculated my wait number to be 20. (i.e. put me on hold for one more cycle, after which I dialed out. My money continues to be stuck in Saxo, and I am contemplating legal proceedings. Please be careful.

      0

      Post

    Questions (0)
      Recent ActivityUnansweredTrending

      No Question Found.

      Types of Services Saxo Markets Provides

      Saxo Markets offers a few types of services on its 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 similar tools as SaxoTraderGO
      • SaxoInvestor: Invest easily with the SaxoInvestor platform

      Types of Account Available With Saxo Markets

      Saxo Markets offers various types of account, catered to the different needs of the 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

      Saxo Markets Fees and Charges for CASH UPFRONT Trading Account

      • Min Commission Fee: S$5
      • Commission Rate: 0.08%
      • Custody Fee: 0.12% p.a
      • Account Type: Custodian

      Saxo Markets Fees and Charges for buying US Stocks

      • Min. Fee: US$3 - $4
      • Commission: 0.04% (VIP) - 0.06% (Classic)

      As of November, SAXO Markets has made a significant reduction to part of its pricing structure.

      Currency conversion fee

      • Free sub-accounts, e.g. in SGD and USD, for accounts of any size/balance
      • Currency-conversion fee between sub-accounts reduced from 0.75% to 0.30%

      Free live prices

      • Free live prices on SG, US and other exchanges available by refund, with a minimum of four trades placed each month (six trades on ASX)

      No hidden fees, no new fees

      • Transparent pricing upfront, with no hidden fees (no inactivity fee, no platform fee, no maintenance fee etc)
      • No new fees are being introduced or other fees increased as part of this suite of price reductions

      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)
      • Address: 3 Church Street, #30-00 Samsung Hub Singapore 049483
      • Visit Saxo Market's website for more information

      Contact us at [email protected]should you require any assistance or spot any inaccuracies.