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Saxobank as a broker


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Saxobank as a broker

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  #1 (permalink)
 FrazMann 
Aberdeen/Scotland
 
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Hi,

I was wondering if anyone has had any experience trading through Saxobank? I was looking at openning an account with td ameritrade but since I live in the UK they said I needed to go with Saxo.

Has anyone used it?

Does anyone have an alternative which allows UK residents to hold an account as the fees for Saxo are pretty high especially for the volume I'll be trading.

https://www.home.saxo/en-gb/rates-and-conditions/futures/commissions


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  #2 (permalink)
 myrrdin 
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FrazMann View Post
Hi,

I was wondering if anyone has had any experience trading through Saxobank? I was looking at openning an account with td ameritrade but since I live in the UK they said I needed to go with Saxo.

Has anyone used it?

Does anyone have an alternative which allows UK residents to hold an account as the fees for Saxo are pretty high especially for the volume I'll be trading.

https://www.home.saxo/en-gb/rates-and-conditions/futures/commissions


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I was working with Saxobank very many years ago, but left them soon.

I would assume that UK residents are allowed to work with all US brokers with the possible exception of brokers who have partners in Europe, eg. td ameritrade.

I am Austrian resident, and I work with De Carley, IAB, and RJO.

Best regards, Myrrdin

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  #3 (permalink)
 rassi 
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FrazMann View Post
Hi,

I was wondering if anyone has had any experience trading through Saxobank? I was looking at openning an account with td ameritrade but since I live in the UK they said I needed to go with Saxo.

Has anyone used it?

Does anyone have an alternative which allows UK residents to hold an account as the fees for Saxo are pretty high especially for the volume I'll be trading.

https://www.home.saxo/en-gb/rates-and-conditions/futures/commissions


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Infinity futures in the US or interactive brokers. Either that or go through a prop firm into one of the main clearing firms in the uk.


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  #4 (permalink)
 suko 
Kyoto, Japan
 
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I trade CFDs out of their Tokyo office. It's the only way I can get certain instruments.

It's okay if that's your only choice, but it's basically a forex broker that calls itself a bank.

I will probably move that account to IB this year.

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  #5 (permalink)
 mrphr 
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It is not "perfect" but Interactive Brokers UK it is probably your best option, specially for low cost trading.
https://www.interactivebrokers.co.uk/en/home.php

You can also look into TradeStation as well.
https://www.tradestation-international.com/

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 mrphr 
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suko View Post
...basically a forex broker that calls itself a bank.


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  #7 (permalink)
 suko 
Kyoto, Japan
 
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You have got to give them credit for their global presence.

Incidentally, they are easily available to retail traders offshore via Europacific Bank. So you set up the account with Europacific, then they are the window to Saxo offshore. Not available to Americans, of course, and I have no experience with actually doing this.

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  #8 (permalink)
 brucerobinson 
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  #9 (permalink)
 TradeTheLevel 
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I know a few professional traders that use them. They are happy with saxo.

There not a bucket shop.

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  #10 (permalink)
 barren 
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I am working with Saxo for several years. I am very pleased with their service. Saxo is defintely not a futures broker, although you can trade all futures through them, but compared to US brokers they are too expensive for that. However if you trade volume, they go down to US known level.

Equities and FX is very good, particularly european stock markets.

If you are living in the US you probably would choose a US firm. However for european residents Saxo is a very good choice. My 2 cents.

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