SaxoBank – Is it scam or safe?

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SaxoBank – Is it scam or safe?

The company is licensed in several countries and is regulated by the relevant financial supervision commissions. Licenses allow it to conduct financial services, including forex.

However, there are some posts in forex forums that inform about bad practices related to poor customer support, negative slippage and stop loss hunting. Customers also complain about their resource-intensive trading platform.

So far, we haven’t received any complaints from clients of SaxoBank.com.

If you feel frustrated by SaxoBank.com and have something to share with us, please fill in the form below, describing your case:

6 Complains

  1. I hope someone will close these scammers. They are licensed and so what? They always hunt stop loss orders. They always disconnect the platform when some important happens. The most important, they cancelled all the profit from my account. I wonder how is it possible they to be still alive with all this cheating. DO NOT open a live account with them!

  2. Although they offer one of the biggest range of CFDs available for trading, there are some negative things I want to share. The platform is too complicated and doesn’t show the required margin but units only. When you set the chart properties, they cannot be saved in favorites. There are no options neither for auto-login, nor for skipping annoying auto updates. Several times I tried to sell some CFDs of shares but received a warning message that short selling is disabled for this instrument. At the same time, there is no option to hide the disabled instruments. Lastly, they do not have some support forum

  3. Saxobank offers some of the worst services I’ve been ever dealing with. I had a margin call in 10 pm in the evening, I sent several times bigger sum than needed and nevertheless they closed all my position within half an hour. I am sure my money must be there immediately! However, they didn’t provide any good facilities allowing you to do that. I am done with them. There are much lighter and better platforms available.

  4. Saxotrader could be a good platform if there weren’t so many annoying disconnections. I am disconnected at least 10 times an hour and this happens to me when I am doing active trading. This happens even though I have a stable broadband connection. I tested my network condition when I was disconnected and it was perfect. Their support tries to mask this bug offering me to change my internet settings from Auto to TCP but this problem still exists. I recommend them to create a lighter and faster platform and discontinue to offer this slow and buggy sh*t. These disconnections turn it to a nightmare!

  5. I have been a client for more than 5 years and it is clear for me that the quality of the service is deteriorating quickly. First they closed the branch where I opened my account, but I remained with my advicer (on-line) that eventually, in the following year, stoped working there. Lately, I have been subject to huge lines waiting on the support platform that takes weeks – when I am lucky enough – to get an answer, that usually are not conclusives.
    It’s a pity but I will probably have to find some other bank for my investiments.

  6. I stupidly made an investment of £35,000.00 with Umarket Capital trade, to trade in binary options trade. Now when I made the the payment, my bank called and advised to be careful, stupidly I carried on and I authorized the £35,000.00 payment. Next morning when I switched on computer and checked things at UMarket Capital trade, I noticed they have taken another, fee of £750 plus £1000.
    This has been taken with no input from me. I have now notified my bank and cancelled my card. Is their anything I can do to claim this money back? Luckily I came across a comment on a recovery website that recommended a funds recovery expert on binary/forex and bitcoin recovery, in the person of Mr Chris Elliot, and i contacted him immediately through his email address and explained my issues with my investment broker to him ,God so kind, him and his team worked relentlessly to recover my funds, and was able to build a case on the scam broker with the informations I provided about my trading experience and my funds refunded back to me within a week interval, i was able to get access to my funds back with his help, I still can’t believe how possible it is to get my invested capital back, including my bonus with the company. I feel obligated to recommend him and his great funds recovery strategy, feel free to reach out to him if you having issues withdrawing your funds, via his email address: [email protected] he will guide you on steps to take and get your funds back.
    Goodluck

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