If you’re looking for a new forex broker, you may be wondering if Saxo Bank is worth the effort. The bank has won several awards for its forex trading platform and claims to be an expert in the field. However, it has been delaying sending the crucial URL needed to start the account-opening process. Read our Saxo Bank review to find out more. But before you sign up for the Saxo Bank forex account, be sure to read the following Saxo Bank review to learn more.
Offer A Demo Account To New Customers
This broker is known to offer a demo account to new customers. Nevertheless, active account fees are a little pricey. However, these fees cover custody fees. Overall, a Saxo Bank review should give you a clear idea of whether the bank is worth the investment.
The Saxo Bank website offers a user-friendly mobile trading platform. The platform features a trading signal tool that is powered by a third-party research company called Autochartist. The site also features an economic calendar and news feed, but there is no way to filter the news by asset type. The Saxo website source offers additional news, a customizable stock screener, and two-step authentication.
Offering A Wealth Of Educational Materials
Another feature that makes Saxo Bank stand out from its competitors is its educational materials. Besides offering a wealth of educational materials, the company also offers a YouTube channel with 41 videos on its platform. The videos are high-quality, but the videos aren’t listed, making them difficult to identify. But the overall experience is good. The bank provides quality market research and a seamless client experience.
In fact, the bank is regulated by top financial bodies and publishes financial data regularly. Moreover, it offers an extensive product range. They cover forex, CFDs, and exchange-traded derivatives, as well as many international markets.
While the platform provides a variety of financial products, the trading conditions at Saxo Bank are not ideal for everyone. The spreads and fees are high for many currency pairs. For traders with small trading volumes, this may be a deal-breaker. The minimum account balance and lack of educational resources are two additional reasons not to choose Saxo Bank.
There are many better options for beginners.
Important Things To Look For In A Forex Broker
One of the most popular forex brokers in the UAE is Plus500. Based in the UK, Plus500 offers online trading services in various markets. They have regional offices in fifty countries worldwide.
Traders like the low spreads, high leverage, and lightning-fast trade execution. They also offer a range of other financial instruments and a demo account for forex traders. Customers can also use traditional desktop Mt4 software to trade. In addition to this, Plus500 provides live chat support.
Finding the best forex broker in uae is not as difficult as you might think. All it takes is a few clicks to open an account. Once you’ve opened an account, verifying your identity may take a little longer. You’ll have to provide two documents to confirm your identity and address. It’s important to find a UAE-regulated forex broker if you plan to trade in forex in the UAE.
Wrapping Up
One of the most important things to look for in a forex broker is customer support. No matter how knowledgeable or experienced you are, you’ll likely need to seek assistance at some point. A good forex broker will provide assistance through email and live chat in your preferred language. Ideally, the broker will assign a relationship manager in your language. You don’t want to be left alone in a situation where you can’t get help.
