Saxo Bank
Saxo Bank is an international investment bank that focuses on providing its clients access to online trading across a variety of financial markets in a variety of countries. Included, of course, is the mother of all markets - spot forex. Saxo Bank is a fully regulated European Bank, based in Copenhagen, Denmark, and as such, provides a level of service that few other forex dealers can claim, as well as one of the best online trading platforms in the world.
Over and above being very tightly regulated, Saxo Bank is truly a driving force for innovation in the industry. This is done through technology, and Saxo Bank offers up some of the best trading platform technology in the business. While many forex brokers these days license their platform from Metaquotes, Saxo Bank develops and maintains its own impressive (and multiple award-winning) array of platforms, including the no-download SaxoWebTrader, downloadable SaxoTrader and SaxoMobileTrader for mobile devices. All three platforms are (arguably) the best in their category. You are welcome to check them all out for free by opening a demo account. The feature-rich-yet-simple-to-use environment is sure to impress you at first glance, but perhaps the most impressive trait is something it takes a little while to discover, and that is the platforms' stability which, without question, deserves a full 5-star rating.
Adding to Saxo Bank's appeal is the almost limitless number of tradable instruments. From a large array of exotic spot currency pairs, to forex options, commodities, CFD stocks, futures, ETFs and even bonds, the choice is really quite impressive.
The only negatives are that commissions are paid on trades that fall below a certain threshold, which depends on the currency pair traded, but is usually 50,000-100,000 units. When you add this to a mediocre spread cost, it can add up, or alternately it can encourage traders to over-leverage. Of course this is usually not a big worry to large account holders, which is the majority of traders at Saxo Bank, since the minimum deposit for a Saxo Account is $10,000 (or $100,000 for a Saxo Premium Account).
* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.
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