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Compare Forex Brokers UFX Bank And Saxo Bank


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Subjective Ratings

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UFX Bank

Saxo Bank

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

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Business Details

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UFX Bank

Saxo Bank

 
Registered Business Name: UFX Trade LLC Saxo Bank
Broker Headquarters: Israel Copenhagen, Denmark
Also has offices in: Nicosia, Cyprus and Chicago, IL, USA London, Singapore, Tokyo
Regulated By: Unregulated Saxo Bank is a fully regulated bank in Denmark.
In business since year: 2009 1992
Broker Capital as of 05-2009 Unknown Unknown
Client Account Segregation: No No
Collect Taxes on Earnings: No No
Prohibit clients from: No Yes
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Diners Club $0 $0
MasterCard $0 $0
Moneybookers $0 $0
NETeller $0 $0
PayPal $0 $0
Visa $0 $0
WebMoney $0 $0
Western Union $0 $0
Wire Transfer $0 $0
MethodDeposit FeeWithdrawal Fee
Credit Card 1.8% - 2.5% 1.8% - 2.5%
Debit Card $0 $0
Wire Transfer Bank Fees Bank Fees
Main liquidity providers: Various major European banks Top tier-1 banks

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Trading Details

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UFX Bank

Saxo Bank

 
Browser platform: UFX Bank by ParagonEX Trading Solutions Saxo WebTrader
Downloadable platform: None Saxo Trader
Mobile platform: UFX Bank by ParagonEX Trading Solutions Saxo WebTrader
Phone dealing: Yes Yes
Order processing: Market Maker Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Platinum Account 200:1* $10,000/unlimited 10,000/20,000,000 units
Mini Account 200:1* $500/$999 5,000/200,000 units
Standard Account 200:1* $1,000/$4,999 5,000/1,000,000 units
Gold Account 200:1* $5,000/$9,999 5,000/2,000,000 units
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
Swap-free accounts   - swap-free accounts are charged slightly higher spreads   No swap-free accounts available
Tradeable Instruments: 40    8   
No Dealing Desk Execution: Not available Not available
Typical spread on EUR/USD: 2 pips (0.0002) for Platinum Accounts, 3 pips (0.0003) for Gold Accounts, 4 pips (0.0004) for Standard Accounts, 5 pips (0.0005) for Mini Accounts 2 pips (0.0002)
Fixed spreads: No No
Guaranteed stop losses? Yes, all stop-loss and take-profit orders are guaranteed by UFX Bank against slippage. All orders are executed at best available price.
Trailing Stops: None Server-side
OCO orders available: No Yes
If/then orders available: No Yes
Hedging capability: Yes Yes - used margin is cleverly cancelled on hedged positions
Automated Trading: No No
Trading Hours: Sunday 9 pm GMT until Friday 9 pm GMT  
Timezone GMT  
Scalping allowed: Minimum time to close a deal after opening it is 1 minute. Yes
Account currencies available: USD AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, SGD, USD
Platform languages: Arabic, English, French, Portuguese, Spanish English
Support languages: English English
Demo account: Yes 20 days
Live chat support: Yes, during UFX Bank trading hours Available to real account holders.
Interest on Margin: No No, On Net Free Equity
Promotions & tournaments: 25% up to $5,000 free on new client deposits. Bonus must be traded 15,000 times in volume before withdrawals can be made. None

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