{"id":117178,"date":"2024-02-20T16:24:11","date_gmt":"2024-02-20T14:24:11","guid":{"rendered":"https:\/\/moneyminority.com\/?p=117178"},"modified":"2024-10-27T00:08:59","modified_gmt":"2024-10-26T22:08:59","slug":"saxo-bank-guide","status":"publish","type":"post","link":"https:\/\/moneyminority.com\/en\/saxo-bank-guide\/","title":{"rendered":"Saxo Bank: In-Depth Guide – Is it a Scam? [2024]"},"content":{"rendered":"\n

\ud83d\udd04 Last updated on 20 February 2024<\/p>\n\n\n\n

\ud83e\udd47 The #1 investment platform <\/strong>choice for MoneyMinority
\ud83c\udf81 Earn \u20ac200 off commissions<\/a> (until 23.02.) \u2192<\/p>\n\n\n\n

Saxo Bank<\/strong> is one of the most popular investment platforms in Europe. It gives you access to more than 50 stock exchanges, 23,500 stocks, 7,500 ETFs, bonds and all kinds of stock market derivatives (options & futures). It also offers interest on money you haven’t invested and robo-advisor options.<\/p>\n\n\n\n

Its credibility is excellent as it has been in operation for more than 30 years, has a banking license in Denmark, is supervised by strict regulators and in ’23 was designated as a financial institution of systemic importance.<\/p>\n\n\n\n

After all that, you would expect it to be costly? That’s right\u2026 it was<\/strong>!<\/p>\n\n\n\n

Some time ago, it rapidly changed its pricing policy by removing all fixed charges<\/strong> and, at the same time, reducing transaction fees. Now, it has managed to be extremely competitive and stands among the cheapest platforms in the industry.<\/p>\n\n\n\n

If you are looking for an investment company with the security of a traditional bank<\/strong> and the prices of a discount broker<\/strong> then Saxo Bank can meet your needs and more.<\/p>\n\n\n\n

Whether you are a trader or a long-term investor.<\/p>\n\n\n\n

\ud83c\udfae Create a free trial account today<\/a> \u2192<\/p>\n\n\n\n

Why choose Saxo Bank:<\/strong><\/p>\n\n\n\n

\n
<\/path><\/svg><\/span>Operating since 1992, it has a banking license and in ’23 was recognized as a systemically important financial institution (SIFI).<\/span><\/div>\n\n\n\n
<\/path><\/svg><\/span>Operating since 1992, it has a banking license and in ’23 was recognized as a systemically important financial institution (SIFI).<\/span><\/div>\n\n\n\n
<\/path><\/svg><\/span>From being the most expensive in the market, with the recent significant reduction in commissions and fees, it has become one of the most competitive – cheaper than DEGIRO in ETFs<\/em>.<\/span><\/div>\n\n\n\n
<\/path><\/svg><\/span>Wide range of investment products from 50+ exchanges, including 23,500+ stocks, ETFs, bonds and derivatives.<\/span><\/div>\n<\/div><\/div>\n\n\n\n

My opinion on Saxo Bank – in a nutshell<\/strong><\/h2>\n\n\n\n

Some years ago, when I was taking my first steps in investing, I was asked to choose a brokerage platform. With the research at the time, I had come up with a choice between DEGIRO and Saxo Bank.<\/p>\n\n\n\n

And while Saxo Bank was ahead in everything, I chose DEGIRO because the former’s commissions were\u2026 prohibitive<\/strong>. I thought it was a great investment bank, for big pockets.<\/p>\n\n\n\n

I was pleased to see a while back that Saxo Bank changed its pricing policy by rapidly reducing its high fees and commissions, in terms of trading and non-trading fees.<\/p>\n\n\n\n

In fact, in some products, it has managed to be cheaper than DEGIRO, as we shall see.<\/p>\n\n\n\n

It’s like having the security<\/strong> of a top-tier broker with a banking license, who is supervised by the Danish Capital Market Commission and is considered a systemically important institution (SIFI) with extremely affordable fees<\/strong> as if it were a discount broker.<\/p>\n\n\n\n

Nowadays, I have transferred a significant part of my investments to Saxo Bank. The rest remains with DEGIRO.<\/p>\n\n\n\n

A little diversification AND on the subject of investment companies never hurt anyone.<\/p>\n\n\n\n

\ud83d\udee1\ufe0f Security<\/strong>: I consider the company to be operating at an extremely high level<\/strong>. It has been in operation since 1992, is overseen by highly respected regulatory bodies around the globe (DFSA \ud83c\udde9\ud83c\uddf0, FCA \ud83c\uddec\ud83c\udde7, FINMA \ud83c\udde8\ud83c\udded), has a banking license and is considered a systemically important financial institution (SIFI).<\/p>\n\n\n\n

Is Saxo Bank, a scam?<\/strong> No, Saxo Bank is not a scam!<\/p>\n\n\n\n

\ud83d\udd0d Read more:<\/strong> Security, guarantees and regulation of Saxo<\/a> \u2192<\/p>\n\n\n\n

\ud83d\udcb8 Commissions and fees:<\/strong> After the change in pricing policy, Saxo’s commissions have become very competitive. There are no account creation, deposit, withdrawal or inactivity fees, you can buy US stocks for $1 and global ETFs for \u20ac2 while the minimum deposit has been reduced to \u20ac1.<\/p>\n\n\n\n

\ud83d\udd0d Read more:<\/strong> Saxo commissions and fees <\/a>\u2192<\/p>\n\n\n\n

\ud83d\udcca Investment products:<\/strong> Gives you access to 50+ stock exchanges<\/strong>, 23,500+ stocks, 7,000+ ETFs and 5,900 government and corporate bonds. Finally, it offers alternatives to ETF investors looking for a way out of the constraint of the absurd PRIIPs regulation.<\/p>\n\n\n\n

\ud83d\udd0d Read more:<\/strong> Saxo’s investment products<\/a> \u2192<\/p>\n\n\n\n

\ud83d\udcbb How to create an account:<\/strong> Get your passport ready, find a residential address document, get your phone in hand and click this link. If you get stuck anywhere you can email me and I’ll help you for free – all I ask is that you use the affiliate link<\/a> to sign up<\/em>.<\/p>\n\n\n\n

\ud83d\udd0d Read more:<\/strong> How to create a Saxo account<\/a> \u2192<\/p>\n\n\n\n

\ud83d\udcc8 How do I buy ETFs and Stocks:<\/strong> You search for the investment product of your choice in the search bar (by name, ticker symbol or ISIN) and click “Trade”. Then you enter the appropriate order (market or limit), the quantity you want to buy and\u2026 it’s yours!<\/p>\n\n\n\n

\ud83d\udd0d Read more:<\/strong> How to buy and sell products on Saxo<\/a> \u2192<\/p>\n\n\n\n

Contents of Saxo bank guide:<\/strong><\/p>\n\n\n\n