Saxo offers various CFDs, making it a worthwhile institution to trade with for those looking to get started in financial derivatives. In this article, we will review all the information you need to know, including the registration process at Saxo, the types of CFDs available, and their fees, platforms available, and platform features.
Saxo Bank: a snapshot
Saxo Bank is a Danish investment bank that was founded in 1992 and obtained its banking license in 2001. One of the main features that make Saxo Bank Securities stand out is its extensive selection of assets. The bank services both retail and institutional clients, and its available products include Forex, stocks, indices, listed options, commodities, ETFs, bonds, and more.
Saxo also offers 9000 different CFDs available for trading, making it easy to find the exact instrument that fits your specific investment goals and strategies. They offer three trading platforms – SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO, and their transparent pricing structure is a definite advantage.
Opening an Account with Saxo
To get started trading with Saxo, you’ll need to go through the registration process on their website. It involves filling out a short form with your basic contact information and some details about your trading experience and investment goals.
You’ll also have to provide proof of identity and a valid method of funding your accounts, such as a credit card or wire transfer. Once your account has been set up, you can fund your account to start trading.
CFDs Available at Saxo
At Saxo Bank, you’ll find a wide variety of over 9000 CFDs to choose from, including stocks, commodities, currencies, indices, and more.
Some of the most popular CFDs available include US equities, global stock indices like the S&P 500 or FTSE 100, precious metals like gold and silver, and significant currency pairs like EUR/USD or GBP/USD. You can go long or short, and you can apply leverage with a small deposit at the outset.
You can also find inspiration on their website based on technical analysis opportunities and probability of CFDs hitting their forecasted performance.
Managing Your Account and CFDs Successfully with Saxo
To successfully trade CFDs in Japan with Saxo Bank (サクソバンク), managing your account carefully and having a clear trading plan is essential. It might include setting stop-loss or take-profit limits to help minimize risk or exploring advanced trading strategies such as position trading or technical analysis.
Saxo also offers a wide range of educational resources and tools to help you stay on top of industry trends, market news, and performance analyses. When used together, these can help you make smarter trading decisions and increase your chances of success.
What Are the Fees of Saxo?
At Saxo, the fees for trading CFDs will vary depending on several factors, including the specific asset you’re trading, your volume and frequency of trades, and your account tier.
For retail clients, Saxo’s margin rates begin at 5% for major index CFDs and 20% for single stock CFDs. If you qualify as a Professional client, margin rates begin at 1.5% for index CFDs and 6% for single stock CFDs.
They also offer several promotions and discounts on certain assets at different times throughout the year. They provide live price quotes on their CFD product page and on their platforms. You can get a customized quote based on your individual trading needs by visiting their website and speaking with one of their experienced customer support representatives.
Quality of Customer Support for CFD Traders
Saxo provides tailored and expert customer support for CFD traders. Their services include:
- 24/7 digital support in the form of a self-service support centre for frequently asked questions. An email helpdesk, and educational resources such as webinars, market research and analysis, and the Saxo Market Call podcast.
- 24-hour customer service on technical matters and account queries when the markets are open.
- Dedicated points of contact for active traders.
- Exclusive VIP services such as priority support and event invitations for professional and high-volume traders.
If you would like to trade CFDs, Saxo is a reputable and reliable institution with a long history of success. With over 9000 CFDs available for trading, traders can speculate on price movements of their favourite instruments. Saxo provides accounts in tiers, ranging from their standard account, a joint account for family members, a corporate account with access to a profession-grade platform, a margin lending account, and a professional investor account. More details on qualifications can be found on their website.