Singapore has a wide range of investment and trading options as there are many national and international brokerages operating here. However, each of them comes with something different and unique. Saxo Markets is one of the Singapore trading platforms that makes the best option for many beginners and experienced traders.
However, it is always better to know whether it is the right thing for you or not. So, here in our Saxo Markets Singapore review, we will try to cover every aspect of this trading platform so you can have a better idea about it.
Other Brokers Like Saxo Markets in Singapore
Saxo Markets in short
If you shortlist the top Singapore trading platforms, then Saxo Markets will always be in the top ones. The reason behind this is that it comes with a long-range of trading options, Saxo Markets is not only made for the traders or the investors as it brings services for everyone. The tools at Saxo Markets are award-winning meaning that they will provide a rich trading experience by all means.
Gaining access to international markets for trading and investing is not difficult at all when you go for Saxo Markets. However, make sure to consider everything we discuss in this Saxo Markets Review to make the most unbiased decision for yourself.
Unique features of Saxo Markets
The first thing to be a part of this Saxo Markets Singapore is the list of its unique features. While some features are standard across all the trading platforms, Saxo Markets comes with some unique features. These are the features that allow it to be better than many other online trading apps and platforms.
Easy access to the international market
Starting trading with Saxo Markets is very fascinating because it reaches the international markets. There are different investment and trading portfolios, and the good part is that there are many trading options that you can go for. So, if you are a person who likes to try different things at once, then Saxo Markets is the right place for you.
User-friendly trading platform
The trading platform of Saxo Markets is very user-friendly. The interface makes it easy to keep everything important in front of you. At the same time, all of the features are available at hand so that you may never miss a trade because of a bad interface.
No inactivity issues
Many trading platforms have this policy that they charge some fines for inactivity. It means that if you stay inactive for some specific time then a specific amount will be deducted from your account. There is no such thing to worry about when choosing Saxo Markets.
Advantages of Saxo Markets
Along with this amazing list of features, there are some advantages to the Saxo Markets that make it even better. Here are some of them:
Attractive pricing structure
The first advantage here is that the pricing structure is very attractive. We will discuss the details later but everything from commissions and policies is very user-friendly. The best part is that the whole pricing structure is transparent bridging the best reliability for investors.
Good range of trading options
Saxo Markets comes with a range of trading options that include:
- Forex markets
- CFDs
- Leverage and Investment products
- Including options
- Stocks
- Bonds
- Commodities
- Mutual funds
- EFTs and much more.
Exceptional educational content
The education content present on a trading platform is something that matters the most especially for beginners in the field. Saxo Markets not only comes with amazing educational content but the educational tools present here are also good for the purpose.
Disadvantages of Saxo Markets
The Saxo Markets Singapore review cannot be complete without discussing both sides of the story. So, here are some disadvantages about it that you must know before you go for it.
Hard to meet minimum requirements
There are different portfolio and account options for different types of trading. However, those come with minimum investment requirements or minimum balance which may not be that easy for everyone to meet. For example, the regular savings plan comes with a minimum requirement for the investment of $2000.
Different funding types come with different fees
This is a good thing that Saxo Markets allows people to use different ways to fund their trading accounts. The issue here is that some funding options have high fees. For example, the credit card funding that may be the most convenient for some people has very high fees.
- The right way to start trading with Saxo Markets
- Starting trading with Saxo Markets is a very simple process. It takes no more than 3 steps which are:
- Going to the Saxo Markets website
- Following through with the signup process
- Funding your account
- Starting trading
While it is very simple, you need to wait for a little while for your payment processing to be done. It is because different funding options take a different amount of processing time.
Pricing technicalities you must know about Saxo Markets
A good thing about Saxo Markets is that it has competitive prices set for most of the trading fees. However, here are a few things to be very careful about when going with Saxo Markets:
- Funding your account with a credit card will take about 2.93% of the amount which may not be right for you.
- If you go for SaxoTraderGO then you will need to make a minimum deposit of $3000
- The minimum investment amount for a regular savings plan is $2000
While these are not manageable for many people, other Funding options and account types do not come with such hard-to-meet requirements. The attractive thing here is that there are no fees for withdrawals or deposits, and there are no withdrawal limits as well.
Final Verdict
A very important thing to consider when selecting a trading platform is if it is good for you or not. So, if you are thinking of going for Saxo Markets, this Saxo Markets review would be very helpful. In this way, you can easily know who Saxo Markets is for and who should use it. Doing your research about the platform will also save you some time and effort.
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