Read our Saxo Bank review to see if we recommend this broker for trading. Just to clear doubts, this is an www.home.saxo review.
Those days are long gone when you needed a huge capital and lots of experience and knowledge to even consider trading in the financial markets. Thanks to the internet, it has become quite easy for people to try their luck in these markets, even if they only have a small sum to invest and a very basic understanding of how they work. Even if you have absolutely zero knowledge and experience, there will be no one stopping you from risking your money, but your chances of success do diminish. But, how will you get started? A lot of people are curious about this and the simple answer is that you need a broker.
They have also been a part of the financial markets from the beginning and play an important role today as well. The only difference is that now you can use online brokers, who can provide you with access to the instruments you wish to trade, the trading platform to trade them on and the tools and conditions that are needed for trading them. There are a plethora of these brokers who exist nowadays, but it should be noted that you have to find a professional one if you want to succeed in the financial markets.
Your choice of company can have a big impact on your success because they are the ones providing you with the instruments, tools and conditions that can have a direct impact on how much profits you make. Saxo Bank is one of the options that you will have at your disposal when you are looking for a broker, but can they help you out? Let’s take a look at their services:
Starting with the security features is a good idea because this will tell you if it is possible to have peace of mind during trading. You don’t want to constantly worry about your money being stolen or your personal information being misused because this will distract you. Saxo Bank has focused a lot of attention towards security because it understands that traders are very concerned about it. They have used a segregation account policy for keeping the deposits of their clients, which means they are kept separately and are deposited with reliable financial institutions.
They use SSL (Secure Socket Layer) encryption for protecting all information entrusted to them by the traders to prevent it from falling into the wrong hands. Along with these measures, the AML (Anti-Money Laundering) and KYC (Know-Your-Customer) policies are also applicable on IG. Under these policies, traders have to verify their identity, residence and give proof of payment to prevent money laundering, financial fraud, terrorist financing and identity theft.
Once you have ascertained the security features, you should check out the trading software because this is the element you will engage with the most during the course of trading. How will you trade any instrument and open and close positions? You need a trading software to do so, which is commonly known as a trading platform. This varies from broker to broker and you need to ensure that it is up to the mark before you sign up. Saxo Bank has an expert team that developed its trading platform and they have equipped with superior and powerful technology.
Despite the advanced technology, it has a highly intuitive user-interface, which makes it easy to use for every trader, whether they are a novice or someone with experience. Traders can benefit from fast trading execution that allows them to take advantage of all market movements. The layout of the trading platform is fully customizable, which allows traders to design it according to their preference. A range of trading tools have also been incorporated to make it easier for traders to make good decisions. You can find charting tools, trading indicators and a variety of fundamental and technical analysis tools.
Another important thing to know about the Saxo Bank platform is that it is web-based, which means you can use it on your desktop or your mobile device, depending on which is convenient. This gives traders flexibility because they can choose to trade on the move, or trade from anywhere as per their convenience.
When you are done assessing the trading software, you might want to know exactly what you can trade through it. You should check the trading products beforehand because they are the ones that will generate the profits for you and you want to have access to the most profitable one. Every broker offers a different variety and it is up to you to decide what you wish to invest it. As far as Saxo Bank is concerned, you will find out that they are offering a wide array of trading products to their clients. They don’t restrict you to a handful of options, as there are more than 200 instruments that you can check out.
These belong to some of the biggest financial markets and you can choose the combination you want, thereby diversifying your portfolio. Cryptocurrencies have become one of the hottest instruments these days, so Saxo Bank has added options like Bitcoin, Litecoin, Bitcoin Cash and Ethereum to their offerings. They also offer traditional fiat currencies and you can choose from various pairs, including but not limited to, EUR/USD, AUD/USD, EUR/GBP, USD/CAD, GBP/USD and USD/CHF. The stock market is also quite popular, as it allows you to trade stocks of some of the world’s biggest companies.
You can trade stocks of companies like Apple, Alibaba, Netflix, Tesla, IBM, PayPal, AT&T, Google and Microsoft. If you prefer to trade baskets of stocks together, the indices market offers plenty of such opportunities. You will find some of the top indices on IG, such as FTSE 100, NASDAQ 100, Dow Jones and S&P 500. There are also commodities that can be invested in, which are known for their consistent returns. Gold, silver, coffee, crude oil, wheat, rice and natural gas are some of the trading products available.
When you have the right broker like IG, you can easily achieve success in the financial markets of your choice.