Saxo Bank for equities

[malaguti]

I'm looking to change my equities broker (currently using Selftrade) as their commission is higher than it should be, and they have introduced an "inactivity" fee which i think is just criminal.

Looking at alternatives..I'm wondering has anyone been using Saxo Bank? they have quite a reasonable commission structure and no inactivity fees just wondering if there is any negative feedback before trying myself.

Any opinions, good or bad welcome
thanks everyone

 

[jojobinks]

Shares as Collateral

Hi malaguti,

Sorry to gate crash, albeit 4 yrs on, but can anyone tell me on what date Saxo Bank first started allowing shares to be used as collateral to "Retail Clients" trading CFDs

Thanks

JB

 

[yellowfloyd]

I'm looking to change my equities broker (currently using Selftrade) as their commission is higher than it should be, and they have introduced an "inactivity" fee which i think is just criminal.

Looking at alternatives..I'm wondering has anyone been using Saxo Bank? they have quite a reasonable commission structure and no inactivity fees just wondering if there is any negative feedback before trying myself.

Any opinions, good or bad welcome
thanks everyone

A lot of firms have no started to introduce inactivity fees now, I think this will continue to increase too! I have used Saxo before, They have a minimum of £5000 to open an account so if you are looking to start with any less, then they won’t be for you. They platform is ok once you get used to it, it is very busy and takes a while to get used to (but that’s just my view), I prefer a simpler dealing platform. I must confess that I did use them for CFDs rather than physical shares but the platform is the same.

 

[malaguti]

A lot of firms have no started to introduce inactivity fees now, I think this will continue to increase too! I have used Saxo before, They have a minimum of £5000 to open an account so if you are looking to start with any less, then they won’t be for you. They platform is ok once you get used to it, it is very busy and takes a while to get used to (but that’s just my view), I prefer a simpler dealing platform. I must confess that I did use them for CFDs rather than physical shares but the platform is the same.

thanks yellowfloyd, I have opened an account and will report back my findings after some time

 

[norilsk]

Saxo Bank

Hi Malaguti

I came across your post last year.

How was your experience with Saxo Bank? Is their platform good for trading online? I am particularly interested in trading US equities.

I have been with Selftrade before, then moved to Sippdeal, but am considering leaving because their market maker (Winterflood) stopped providing online quotes for US ETFs, so I have to do trades by phone which results in awful slippage.

Many thanks again for any sharing of your experience!

 

[malaguti]

Hi Malaguti

I came across your post last year.

How was your experience with Saxo Bank? Is their platform good for trading online? I am particularly interested in trading US equities.

I have been with Selftrade before, then moved to Sippdeal, but am considering leaving because their market maker (Winterflood) stopped providing online quotes for US ETFs, so I have to do trades by phone which results in awful slippage.

Many thanks again for any sharing of your experience!

unfortunately, as soon as I'd opened it they changed their T&Cs with the very thing I was getting fed up with. the inactivity fee with a charge more than twice as much as selftrade. I closed it immediately.

 

[luckystrike23]

I use Saxobank but don't recommend it; won't quote the UK small caps - and their commission charges are at the higher end. Dealing USA shares with them is particularly expensive and when I traded CFDs they charged me some 3.5% financing.