Saxo Bank

This is a discussion on Saxo Bank within the Brokerages forums, part of the Commercial category; Originally Posted by ju_broker My personal opinion is that you bear a grudge, and have too much time on your ...

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Old Feb 12, 2009, 2:41pm   #46
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Originally Posted by ju_broker View Post
My personal opinion is that you bear a grudge, and have too much time on your hands to scour through the internet looking for criticisms of Saxo. By the way calling them 'Suxo', doesn't do your credibility any favours at all.

1)So in the first example, Saxo admitted the mistake and refunded.....seems reasonable. NOT TRUE
2) The intermediary broker/trader increased their cut (commission), and Saxo is blamed - absurd, that is a gripe with the intermediary. The relationship you have is with the intermediary. It is his responsibility to inform you of spread changes/changes in fee structure, not Saxo.
3) The guy was stopped out on a $40k margin call. Ok, he had $120k to start with, but how much was on the account at this point. If the margin was over 100% then this is actually good business - if everyone was allowed to rack up $40k losses, the company would be stuffed, to the detriment of all the responsible traders.
4) The guy doesn't like FXCM either. I suggest he goes and learns how the FX market works - there is no guaranteed spread when trading the actual market. If you don't like the way the FX market works - DON'T TRADE....but stop bad-mouthing an organisation based on personal gripes.
5) Double spreads at the weekend - Saxo are not open for FX trading at the weekend. In any case, the spreads would be wider because the markets are very thin.
6) Too many of these criticisms are just wild accusations, e.g 'because they are intent on screwing me every chance they can' - evidence please!
7) Re the last review. A disgruntled ex-employee (probably recently made redundant). If this is true, then do the decent thing and notify the authorities.
YOU ARE VERY WRONG.

Saxo never refunded anything NOT for ONE but FOUR different trades that went wrong, even though they admitted being at fault. On one trade they even changed the pair.

I will bad mouth Saxobank to every person I know, due to my experience and no dought you will preach how honest and great they are. DO YOU WORK FOR THEM?

The platform is unstable also.

By the way all i had to do was type, Saxobank good, bad , ripoff into google to find thousands of negative reviews. Took maybe five minutes.

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Old Feb 12, 2009, 5:44pm   #47
 
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There are thousands of conspiracy theories on thousands of subjects on the internet - it doesn't legitimise them. The very nature of these message boards attracts disgruntled people, as do any 'review' sites for any product/service.

Your language/accusations are child-like and unspecific, with responses such as 'I will bad mouth Saxobank to every person I know'. Grow up.

I am not a Saxo Bank broker, but I have a strong knowledge of the organisation and the way the financial markets operate. You are unhappy - fine - use a different platform, thats your choice, but making indefensible accusations is another thing.
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Old Feb 12, 2009, 9:07pm   #48
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Originally Posted by ju_broker View Post
There are thousands of conspiracy theories on thousands of subjects on the internet - it doesn't legitimise them. The very nature of these message boards attracts disgruntled people, as do any 'review' sites for any product/service.

Your language/accusations are child-like and unspecific, with responses such as 'I will bad mouth Saxobank to every person I know'. Grow up.

I am not a Saxo Bank broker, but I have a strong knowledge of the organisation and the way the financial markets operate. You are unhappy - fine - use a different platform, thats your choice, but making indefensible accusations is another thing.
By your responses I am sure you are involved in SUXO in some way. You have a strong knowledge of a company that rips investors off. Just read this thread and see the light. I do not believe you that you are not on SUXO"s payroll, why else would you be defending them?

Why not discredit SUXO ? TRUTH HURTS.

If you are trading for a living surely you wouldn't have the time to research every thread. The fact is you know that I have incurred losses due to Saxo's fault and yet you can not accept this. WHY?

Your defenses are worthless to 99% of people who have dealt with them. Get off your high horse and smell the coffee for real.

I don"t care what you think. You have not presented any facts.

So you are a broker? or do your just like to call yourself a ju_ broker or should that be spelt different?

Thanks for the humour, am sure many people appreciate it.

Perhaps you can post a few signals and results. Saxo clients need all the help they can get. Please try to prove me wrong then your words may carry merrit. Until then, please don't waste my time on defending SUXO, because I are not interested.

If you have nothing to say, say nothing. George Bernad Shaw.

Cheers,

Have a beer , relax and get down to trading.

Awaiting your signals.
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Old Feb 23, 2009, 10:43pm   #49
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Originally Posted by ju_broker View Post
I am not a Saxo Bank broker, but I have a strong knowledge of the organisation and the way the financial markets operate. You are unhappy - fine - use a different platform, thats your choice, but making indefensible accusations is another thing.
I recently opened an account with them, but find the Live platform very slow compared with their Demo one, and subsequently haven't traded with them - wish I'd looked at T2W first!

Either they have a lot of technical problems, or the stated trading hours are inaccurate, because there have been many times when either the markets were closed or I could log in but no data was available.

Interesting that they share the same fax no. and address with E*TRADE and Capital Spreads as part of the London Capital Group.
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Old Feb 24, 2009, 2:58am   #50
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I recently opened an account with them, but find the Live platform very slow compared with their Demo one, and subsequently haven't traded with them - wish I'd looked at T2W first!

Either they have a lot of technical problems, or the stated trading hours are inaccurate, because there have been many times when either the markets were closed or I could log in but no data was available.

Interesting that they share the same fax no. and address with E*TRADE and Capital Spreads as part of the London Capital Group.
I liked there platform to start with, but when I went live it all changed. Freeze-up, Slippage, Incorrect fills, etc. I was also trading on another platform entering the same trades and making money on Alpari MT4 and loosing on Saxo at the sametime. So I am convinced something is going on behind the scenes. Or they just don't have a good data feed or something. I do know, but to risky to trade with in my opinion.
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Old Feb 25, 2009, 10:57pm   #51
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I went long in a Demo trade on Eur/Us$ at 07:25 GMT, and it's frozen!!

It may have been frozen before I traded, I don't know because I was going by their chart and had only just logged in. Now I realize 'Net Change' is zero, also the same for 4 others as well.
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Old Feb 25, 2009, 11:04pm   #52
 
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They must be deliberately trying to rob you of your pretend money on the demo as well!
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Old Apr 2, 2009, 9:36am   #53
 
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I may be taking action against Saxo Bank. If you were cheated by them, and want to do something about it, I've set up an address; together.against.saxo@gmail.com
Send an email with your experience if you wish, or just reply to what I have posted here. I don't need any of your information or anything like that, but other examples of Saxo's scamming can help my case. Thanks.
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Old Apr 2, 2009, 10:05am   #54
 
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Quote:
Originally Posted by XPat View Post
I recently opened an account with them, but find the Live platform very slow compared with their Demo one, and subsequently haven't traded with them - wish I'd looked at T2W first!

Either they have a lot of technical problems, or the stated trading hours are inaccurate, because there have been many times when either the markets were closed or I could log in but no data was available.

Interesting that they share the same fax no. and address with E*TRADE and Capital Spreads as part of the London Capital Group.
Saxo are a white label operated by LCG although Saxo call the shots on spreads etc. When you signed up, you actually sign to LCGs terms and conditions. If you are not happy with Saxo either close the account or ask LCG to switch the account to one of the others within LCG. I believe Simon from Capital Spreads said this is possible on the Dealing Desk thread.
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Old Apr 2, 2009, 10:41am   #55
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Saxo are a white label operated by LCG although Saxo call the shots on spreads etc. When you signed up, you actually sign to LCGs terms and conditions. If you are not happy with Saxo either close the account or ask LCG to switch the account to one of the others within LCG. I believe Simon from Capital Spreads said this is possible on the Dealing Desk thread.
Only a white label for spread betting. CFDs and FX are their own product. Not sure what we're talking about here.
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Old Apr 2, 2009, 3:25pm   #56
 
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Only a white label for spread betting. CFDs and FX are their own product. Not sure what we're talking about here.
XPat mentioned the LCG connection in post 49 so I assumed we were discussing Saxospreads. Apologies if they meant CFDs or FX.
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Old Apr 2, 2009, 4:56pm   #57
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XPat mentioned the LCG connection in post 49 so I assumed we were discussing Saxospreads. Apologies if they meant CFDs or FX.
We might be - I've come to this thread a bit late, and admit I haven't trawled through all the posts.

Mea culpa
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Old May 21, 2009, 12:55am   #58
 
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Went to a presentation last week in London, and had a short but enjoyable seminar with T** H******d.
I've been trading for 3 years and I wouldn't go near this lot. Their sales person is a **** and their policies regarding fill prices suck. He was not impressed when I put the stopruner question to him either.
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Old May 21, 2009, 3:46am   #59
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Bint Crusher,

I went to a presentation in Bangkok and took copies of this thread and another of all the dodgy scams they pull and peoples experiences. Went down like the Titanic. I had about 200 printed copies and started handing them out to everyone, at first the people thought I worked for Suxo, then realised. After I managed to fire some good Questions at Suxo, which they would not answer, then i read a short post to them. It was a great to get some revenge on the pricks. They were unaware of the copies i gave out until after the presentation.
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Old May 21, 2009, 2:55pm   #60
 
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Weren't they running some adverts on here some time back? Anyway, I used to be one of their clients, nothing 'award-winning' about their platform, just plain ol' vanilla.
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