Very high fees. VIP memberships expire after a year, unless you are insanely active. Many hidden limits on many products (for instance you cannot buy more than 50 options per ticker). For europeans, i... See more
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See what reviewers are saying
I'm a nervous novice when it comes to trading, but the Saxo app is easy to use, and the help I received by chat and through a phone call really helped me to resolve my problems.
Company replied
Positive: no long waiting time. Friendly staff. Negative: could not provide a swift response and not expected to revert back within the same day. So, overall assessment will need to wait until I... See more
Company replied
Great platform. A lot of instruments. Very good educational stuff. Platform is not looking like a casino, very professional. Loving the saxo market call podcast, very informative. Very well documented... See more
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Company details
Written by the company
Saxo Bank CEE serves clients across Central, Eastern and Southern Europe, including Poland, the Czech Republic, Greece, Slovakia, Romania and other countries throughout the region. Based in Prague, Czech Republic, Saxo Bank CEE acts as a regional service hub, providing local support and expertise while clients maintain their contractual relationship with Saxo Bank A/S in Denmark.
What do we offer?
Written by the company
- Award-winning trading platforms
- To connect traders and investors to global markets, Saxo provides a suite of powerful online trading platforms: SaxoTrader, our award-winning platform for web, mobile and desktop, with access to our full range of trading products and advanced tools. SaxoInvestor, our all-in-one investment app, offering easy access to stocks, ETFs, bonds and more To try the platforms and practice trading, you can sign up for a free 20-day demo account.
- Find every product you want to trade
- Saxo offers an unparalleled product range of 71,000+ financial instruments, including stocks from over 25 countries, ETFs, online bonds and mutual funds, along with leveraged products such as CFDs, futures, FX, and options on stocks, indices and futures. With Saxo, you always get ultra-competitive spreads and commissions across all asset classes.
- Get inspired to trade and invest
- Trading is all about making informed, rational decisions. To keep our clients up to date, we provide a wide range of free inspirational content, including daily market commentary from our in-house experts, news, popular stocks, webinars and podcasts. Whatever your level of trading and investing experience, Saxo supports you with the knowledge you need.
- Our Story
- Since 1992, we have been on a mission to make the global financial markets more accessible to more people. Today, Saxo is a fully regulated and licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. We are designated as a Systemically Important Financial Institution (SIFI) by the Danish FSA, and have an investment-grade rating from S&P. With offices around the globe, Saxo has local support teams on call 24/5 for technical and account support. We also provide helpful resources online in our self-service portal. If you’re interested in joining our 1.5 million+ clients worldwide, visit our website to open a Saxo account today.
Contact info
Na Poříčí 3a, 110 00, Praha 1, Czech Republic
- +420 226 201 580
4.8
Excellent
369 reviews
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Overall it is a good experience.
Overall it is a good experience.
The product documentation could be better (ex. what to do with partially filled orders)
As a recently VIP reward, I would expect a better response time/reaction to my inquiries
July 5, 2022
Reply from Saxo Group - Saxo CEE
Dear RBC,
Thank you for taking the time to leave a review and sharing your experience with Saxo.
In regards to your comment on partially filled orders, we will take your feedback to improve the content we currently have on our help page. In the meantime, please do not hesitate to reach out to our customer support for clarification on both the product information and VIP status.
Best regards,
Valery
I have tranfered 10000usd since 15/06…
I have tranfered 10000usd since 15/06 sent them my IBAN and BIC and they dont bother to answer. Sending bank verified the transfer, sent them the proof but they dont initiate any search...
Update, the tranfer finaly was shown yesterday night (23/06) with value date 21/06! My rating does not concern the platform , which is very good, but the poor level of support services
June 21, 2022
Unprompted review
Reply from Saxo Group - Saxo CEE
Dear Yiannis,
Thank you for taking the time to leave a review and for the positive comment about the platform. We are very sorry to hear that your experience with transferring funds and our support service has been poor.
Even though it seems that the problem is solved now, we would really want to get to the bottom of this issue. Therefore, we have sent you a request to provide details, and we are looking forward to fixing this, so that you or anybody else does not encounter the same issue again.
Kind regards,
Valery
Informations about ETF
Long story short, i didn't manage to find some informations about ETF's that can be tradable for European retail customers but Mr. Jakub from Customer Support give me guidance on this way, thank you :)
May 25, 2022
Unprompted review
Reply from Saxo Group - Saxo CEE
Dear Cristian,
Thank-you for leaving a review sharing your positive interactions with your local team. I'm very glad to hear that my colleague Jakub was able to give you the assistance you needed. Please don't hesitate to reach out should you need help again in the future. In the meantime I wish you a pleasant evening.
Kind Regards,
Elena, Client Service
Unreliable and Limited
The platform is to some extent good; however, if you need to chat with the agent and receive support it is very challenging. The chat can be open for 5 min at most..and then it restarts and you end up speaking with 10 agents before you can only address your problem. I never solved one so far.
Saxo Bank is also very unreliable. They change margins, fees and their interpretation of regulation without any previous communication and as they seem appropriate, usually on client's damage. They also never send you a name or a link to the regulation they are enforcing. Especially if you are a non EU citizen, avoid it. There are many other platforms in the US which are more reliable and less costly than SAXO. Do a better research. This is a branded mamut which will not survive the New Age.
RESPONSE to ELENA: Your chat agents need more than 5 minutes to find out about my account and answer. It is not unresponsive from my side, but from yours.
EXACTLY - I am too always asking on which legislation, order or etc did you base your decision (SAXO decision).. and I do not get an answer. If I knew the legislation I would happily tell you :)...lool.
ELENA - Do not try to defend a company which actions simply cannot be rationally defended and need to be dealt with professionalism and care...
May 23, 2022
Unprompted review
Reply from Saxo Group - Saxo CEE
Dear Andrijana,
Thank you for leaving a review with feedback, although I am very sorry to hear of your negative experience with Saxo Group. I wish to provide some links that may provide some useful information, however should they still not answer your question please do reach out to the team, so they can see if there is anything further we can clarify or help you with.
As you mention, with the chat support, if there is no response within 5 minutes, the chat closes, as the agent is then able to assist others. This however is not meant to be so that you are unable to get assistance in this way, and I am passing this feedback on. In addition you are able to receive assistance over the phone should it be required, or through the help portal from within the platform, there are more details about that here: http://spr.ly/62042zPUMA
As I am unsure which regulation specifically you are referring to, I am unable to assist you on the specifics here, but the best way to hear about this would be to raise a case, naming the regulation in question, so that it is able to be directed to the correct team to answer your query. One regulatory directive that we follow for example is MiFID. This is an EU directive, and you can read about that here: http://spr.ly/62043zPUM7
You can also read about further regulations and licensing details and more under 'About' and 'Legal' on our homepage. The direct link to legal for example is as follows: http://spr.ly/62045zPUMh
Most of all I'm also sorry that you've found the fee structure and pricing difficult to navigate. Saxo's vision is to democratise investing, and as part of that we aim to be transparent with all the fees and costs associated with trading with us, so that you can make the best decisions appropriate to you. You can find a section in our help portal about trading costs here: http://spr.ly/62046zPU36
That being said, our team are always happy to help with further enquiries where we can. Please accept my apologies once again for the frustration and lack of clarity. I hope we can assist you further to provide any information you might be seeking, and should you still choose to seek out other platforms, I wish you the best in your investing journey.
Kind Regards,
Elena
Reply from Saxo Group - Saxo CEE
Dear Guy,
Thank you very much for your review with positive feedback. I'm extremely glad that you are satisfied to the point where you are able to recommend Saxo to others, and our support team are at your disposal should you need assistance in the future.
Have a great weekend.
Kind Regards,
Elena
YOur platform should look much better
YOur platform should look much better. Your cost should be smaller. If I compare you for example with Revolut. Your advantage is big choice of stocks
April 15, 2022
Reply from Saxo Group - Saxo CEE
Hi Mario,
Thank you for taking the time to leave your review. We are sorry to hear that you were left unsatisfied with the platform and costs/fees, however, we appreciate your feedback and will make sure to pass it on to the relevant teams.
If you would like to discuss any of your comments further, our Client Service team is more than happy to assist.
Best regards,
Valery
Might not the cheapest but its worth it
Might not the cheapest. But range of markets instruments is superwide. Asx stocks all kind of all world dericatives...
I am ok
March 21, 2022
Reply from Saxo Group - Saxo CEE
Dear Alexey,
Thank you for taking your time to leave a review and for the 5 stars.
We are very happy to hear that you are satisfied with our offering at Saxo and we look forward to servicing you for many years to come.
Wish you a great evening,
Valery
i have been looking for level 2 in IOB…
i have been looking for level 2 in IOB London over years and really do not understand why that is not available
February 23, 2022
Reply from Saxo Group - Saxo CEE
Hi Kovari,
Thanks for your leaving your review, however we would require some more details in order to answer fully. If you contact our client services team, they will be more than happy to assist.
Kind regards,
Jonnie
Professionalism and outstanding support
I can only give praise to SaxoGroup. First of all, they have fantastic mobile and desktop apps. They are beautifully designed, modern and functional. The same you can say about their website.
The customer support is outstanding. They have a regional support. I have had a single person assigned to my case which have guided me through numerous obstacles that I have encountered with my home bank and my country’s administration.
You rarely see that kind of professionalism and support quality today.
So, I give my warmest recommendations for SaxoGroup. You will be in good hands.
February 18, 2022
Reply from Saxo Group - Saxo CEE
Hi Petar,
Thank you so much for leaving such a detailed glowing review.
We are delighted to hear that you are happy with both the platform and the support that was provided to you and will make sure to pass on the positive feedback.
We look forward to servicing you for many years to come, and if there is anything that we can do to further enhance your Saxo experience, please do let us know.
Wish you a great weekend,
Valery
Reply from Saxo Group - Saxo CEE
Hi Mihai,
Many thanks for taking the time to share your positive experience. We hope to continue servicing you for many more years.
Wish you a great day,
Valery
This is a very impersonal unfriendly…
This is a very impersonal unfriendly service to the customer.
Many times it takes too long to get answers (if you ever get one) and help.
Many customers are in the position to compare the Saxo service with the service other similar investnent companies provide.
The problem of not issuing credit or debit cards is something that needs urgent reconsideration. Many Saxo competitors do provide cards.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Dear Mrs Mangiosi,
Thank-you for leaving a review with feedback. I'm very sorry however to hear that you have found your interactions with us to be unfriendly and lengthy. This is definitely not the service experience as it is intended. However we are constantly working on improvements to improve the service journey, and reflecting on areas for improvement.
If you have an outstanding issue, or are requiring support we would very much like the opportunity to help you where we can, so if you could please contact your local client service team, they will be happy to help. You can find the methods to contact us here:
http://spr.ly/62045zzQh1
In relation to the credit cards, as you mention, although some competitors may offer this, it is currently not a service we provide. But this isn't to say it won't ever happen in the future, and I have noted your feedback in relation to this.
Wishing you a fantastic week.
Kind Regards,
Elena, Client Service.
The marketing seems inconsistent with…
The marketing seems inconsistent with the reality.
Visually impressive and some very good innovations.
But exorbitant and expensive commissions and trading costs, tranches of 1000x share $20 cost each way. When high pricing has been raised - vendor does does not seem to listen or care.
Many major momentum stocks not listed - a lengthy and manual process to request stocks to be listed.
Some major gaps in data quality, data tends to regularly fade between trading prices and moving average charts.
A number of platform crashes at key moments.
Platform support has been poor versus other vendors.
Very poor options for after hours trading and data - very cumbersome and limited premarket trading options.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi John.
I am happy that you like our visuals and innovations.
Options are rightly so traded in blocks of either 100 or 1000 shares. But the prices we charge in commission is around 3 dollars/pounds for a contract.
You can read more about our pricing through this link: http://spr.ly/62046zMRKQ
I am very sorry to hear that we do not offer the stocks you are seeking. This could be because many of the stocks that can be counted as momentum shares are listed on the OTC market. This is a market that Saxo does not offer trading in.
Thank-you again for your sharing your feedback, we will review this as we continue to develop our products and services.
Best Regards,
Anders, Client Services
asking for info is pointless, there is almost no clarification when asking a question
I had to chase up and ask a few times before I got some replies to my problem.
The reply I got was very vague. I asked for specifics, none was forthcoming.
All I got was: "some regulations changed to we can't do this". Literally, no other info - which i feel is pretty bad.
When I asked for someone else to provide me with info, I was redirected to a complaint page.
Sad.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Mitch,
Thank you for taking the time to leave your review. I can see from your account that you have been in contact with our renewal and onboarding teams over the past couple of months and I do apologise if these interactions are the reason for your dissatisfaction.
Should you wish to discuss anything further, please do contact Client Services again with reference to my response here, and we will be more than happy to assist.
Kind regards
Jonnie
Convenient and intuitive to use…
Convenient and intuitive to use platform (great UX/UI). A large number of tools, analytics and educational webinars. High-quality consultation and technical support.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Serik,
Thank you for leaving such a glowing review. It is fantastic to hear that you are happy with not only our platform but with the wide range of tools, assistance, and supporting education that we provide.
Kind regards,
Jonnie
so slow
help desk is slow, they answered in a week. any funds transfer is processed so slowly... in 3 days!
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Cristian,
Thank you for taking the time to leave your review. I'm very sorry to hear that you did not receive a timely response from our Client Service team and for the delay you experienced with your withdrawal - I will be sure to pass this feedback to the teams to ensure this is not repeated.
Kind regards,
Jonnie
Everything is near top quality
Everything is near top quality, except for prices. Trading with saxo is much more expensive than other similar platforms. Recurring periodical fees for holding stocks can eat up some significant % of your returns. Nevertheless, I would recommend it.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Miguel,
Thank you for leaving your review, it is fantastic to hear that you are happy with the quality of our platform. I also appreciate your feedback in regard to the pricing and I will be sure to feed this back to the relevant teams.
Kind regards,
Jonnie
Risk management
A great platform, but one useful feature that could be added, is that when you type in a trade size, a stop loss and a limit, the platform could calculate the potential loss and the potential profit in the account's denominated currency. This would be particularly useful for currency trades
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Geoff,
Thank you for leaving such a glowing review and it's great to hear that you are enjoying using the platform. I appreciate your comments on the stop loss and limit functionality too and will be sure to pass your feedback onto the team for them to discuss.
Kind regards,
Jonnie
I think the platform is very expensive…
I think the platform is very expensive when you compare it to so many other platforms out there, when so many of them have no charges for buying and selling equities.
In addition, and don’t like the restrictions. I can’t buy what I want, but I have to rely on an opinion of some “specialists”
It’s my money, if I want to gamble them and buy high risk equities or American ETF’s, it should be my choice.
Not some persons that don’t even know me.
In order to get a professional account, I should have a least have 500000 € and at least fulfill 1 of the other 2 conditions.
If I hade 500000 € I wouldn’t need to gamble to gain more capital.
It’s very frustrating that I’m not allowed to buy f.ex the S&P 500 ETF but I must buy the European variant of it.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Vasileios,
Thank you for taking the time to leave your review and for the feedback you have provided.
I understand your frustration with not being able to trade complex products such as ETFs. We do make these available to clients who take an appropriateness test to ensure that you are aware of the risks. You can find a link to these tests here should you not have taken these already - http://spr.ly/62048KiBz6
If you would like to discuss any of your comments further, our Client Service team is more than happy to assist.
Kind regards,
Jonnie
The platform is great. But…
The platform is great but there are some annoying issues.
If you are trading ETFs a common problem is missing KID (Key Information Document) on the platform for some UCITS ETF, even though the ETF provider has the documents available on their web site. This prevents retail clients from opening new positions. You may end up being able to buy today but not being able to increase your position in the future (because the KID has been removed for the instrument).
Support is bad. Takes forever to respond and usually the answers are generic and of little help.
It is hard to apply for tax relief at source for dividends.
The fees and commissions are pretty high. The "tiered" pricing does not make much sense for smaller investors. Overall it feels like the incentives are more geared towards active traders.
Overall I like the service. I wish I could give a higher score. Hopefully things are going to improve in the future.
February 17, 2022
Reply from Saxo Group - Saxo CEE
Hi Aleksander,
Thank you for leaving your review and I very much appreciate your additional feedback regarding trading ETFs, as well the support you have received.
In regard to products not having a KID, we do try to ensure that we are provided these by the issuer of the ETF as often as possible to ensure the range of products is as up to date as it can be for retail clients.
I am also concerned to read about your experiences with Client Services. I will not only feed this back to the team, but look through your interactions to learn from our mistakes, and ensure these are not repeated.
Kind regards,
Jonnie
Reply from Saxo Group - Saxo CEE
Hi Botez,
Thank you for the 5-star review. I am delighted to hear that you are happy with the platform and the technical analysis to help you achieve your investment goals. If there is ever anything more that you would like to see at Saxo, we are always open to hearing your thoughts.
Kind regards,
Jonnie
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