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Compare Forex Brokers Saxo Bank And Trading Point Forex


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Subjective Ratings

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Saxo Bank

Trading Point Forex

Charting: Five star Charting Rating Four and Half star Charting Rating
Execution: Four and Half star Execution Rating Four star Execution Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating Four star Transaction Costs (spreads) Rating
User-friendliness: Five star User-friendliness Rating Four and Half star User-friendliness Rating
Platform Functionality: Five star Platform Functionality Rating Four star Platform Functionality Rating
Platform Reliability: Five star Platform Reliability Rating Four star Platform Reliability Rating
Customer support: Five star Customer Support Rating Four star Customer Support Rating
Rollover interest rates: Four star Rollover interest rates Rating Five star Rollover interest rates Rating
Withdrawal processing: Three and Half star Withdrawal processing Rating Five star Withdrawal processing Rating
Average rating: Four and Half star Average Rating Four and Half star Average Rating

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Business Details

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Saxo Bank

Trading Point Forex

 
Registered Business Name: Saxo Bank Trading Point of Financial Instruments
Broker Headquarters: Copenhagen, Denmark Limassol, Cyprus
Also has offices in: London, Singapore, Tokyo None
Regulated By: Saxo Bank is a fully regulated bank in Denmark. FSA (UK), Bafin (Germany), FI (Finland), CySEC (Cyprus)
In business since year: 1992 2009
Broker Capital as of 02-2010 Unknown Unknown
Client Account Segregation: No Yes, client funds are segregated from company operating capital.
Collect Taxes on Earnings: No No
Prohibit clients from: Yes No
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Credit Card 1.8% - 2.5% 1.8% - 2.5%
Debit Card $0 $0
Wire Transfer Bank Fees Bank Fees
MethodDeposit FeeWithdrawal Fee
Credit Card $0 $0
Liberty Reserve $0 $0
Moneybookers $0 $0
NETeller $0 $0
Wire Transfer $0 $0
Main liquidity providers: Top tier-1 banks Unknown

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Trading Details

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Saxo Bank

Trading Point Forex

 
Browser platform: Saxo WebTrader None
Downloadable platform: Saxo Trader Trading Point Metatrader 4 (MT4)
Mobile platform: Saxo WebTrader No
Phone dealing: Yes Yes
Order processing: Market Maker All orders routed through dealing desk.
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Saxo Premium 200:1* $100,000/unlimited 1,000/unlimited
Saxo 200:1* $10,000/unlimited 1,000/unlimited
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Micro 500:1* $1/$3,000 1,000/100,000 units Swap-free (Islamic) optional
Executive 100:1* $100,000/unlimited 100,000/5,000,000 units Swap-free (Islamic) optional
Standard 200:1* $3,000/$100,000 100,000/5,000,000 units Swap-free (Islamic) optional
Swap-free accounts   No swap-free accounts available   Yes - no extra charges and available to everyone, not just Islamic traders
Tradeable Instruments: 8    58   
No Dealing Desk Execution: Not available All orders are automatically routed straight through. Dealing desk exists only to deal over the phone.
Typical spread on EUR/USD: 2 pips (0.0002) 1.9 pips (0.00019)
Fixed spreads: No Optional (variable by default, but client can request fixed)
Guaranteed stop losses? All orders are executed at best available price. No, all orders are executed at best available price.
Trailing Stops: Server-side Client-side
OCO orders available: Yes No
If/then orders available: Yes No
Hedging capability: Yes - used margin is cleverly cancelled on hedged positions Yes, traders can hold both long and short positions in the same currency pair at the same time.
Automated Trading: No Yes
Trading Hours:   00:00 GMT Sunday - 00:00 GMT Friday
Timezone   GMT
Scalping allowed: Yes Yes, all trading methods are accepted.
Account currencies available: AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, SGD, USD AUD, CHF, EUR, GBP, JPY, USD
Platform languages: English Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: English English, French, Greek, Japanese, Malay, Polish, Russian, Spanish
Demo account: 20 days 30 days
Live chat support: Available to real account holders. Yes
Interest on Margin: No, On Net Free Equity Yes on unused margin
Promotions & tournaments: None 20% bonus on initial deposit, 10% on all subsequent deposits.

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