Saxo Bank
On-line since: 1999
Country of origin: Denmark
Regulation: Saxo Bank is an officially registered European bank.
Payment options: Wire transfer
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Web-site: saxobank.com
SaxoBank was founded in 1992 by the Danish businessman. Originally the Company was called Midas, but it was changed to SaxoBank at the time the bank obtained its European license for banking in 2001.
SaxoBank specializes in online investments at the international capital markets and provides its clients with opportunity to trade with the wide range of financial tools, such as currencies, contracts for difference, futures, options and other derivatives, the Bank renders services on trust management also.
The trading is carried out online with the help of SaxoTrader program, which is the proprietary of the Bank.
The thousands of investors and traders from more than 100 countries of the world are clients of the Bank. The client servicing is conducted from the Headquarters of the Bank in Copenhagen, and also from 12 offices, situated in the largest cities of the world.
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I'd like to share my experience. Not good broker if you work with small deposits. They made me some pranks like:
1) impossible to set reversal position. A window "impossible to set a deal due to small volume" appears. I wonder why I could buy a currency, but can't sell it cause of the small volume! The question is: THEN HOW COULD I BUY IT??
2) i left my platform switched on for an hour. Came back and saw a message, that a deal was executed (some deal, which I havn't even ordered!). The amount of a deal was really huge for my deposit! and margin was almost 90%!!