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SaxoTrader Trading Platform Review

SaxoTrader is a proprietary trading platform for trading forex and CFD’s, offered by SaxoBank. SaxoBank is one of the leading retail forex trading provider in the world, based out of Copenhagen, Denmark.

Given the proprietary features, SaxoTrader trading platform is to be used only for trading with SaxoBank. In this article, learn more about the features of SaxoTrader and how this trading platform is different comparing to other retail trading platforms that are available out there.

SaxoBank has tons of other mobile apps and features, but for the sake of this review, we will limit it to the standard two trading platforms available from SaxoBank.

SaxoTrader Platform – Features

SaxoTrader offers trading on multiple assets ranging from Forex, CFD’s, Cryptocurrencies, Fixed income and stocks. The trading platform allows traders to also make use of mobile trading application which is compatible with iOS and Andriod based smartphones.

Within forex, SaxoTrader allows traders the choice to trade with more than 100 forex instruments and offers over 5000 sovereign bonds including a few corporate bonds.

As you can see, SaxoTrader is truly a multi asset trading platform.

There are two main types of trading platforms that are available from SaxoTrader. These include:

  • SaxoTrader Pro
  • SaxoTrader GO

Depending on your level of expertise, traders can choose from between the two mentioned trading platform. One of the biggest advantages with SaxoTrader pro is that it is available for download to your desktop. This application is compatible both with Windows and MacOS systems.

Given the fact that there is a native support, especially for MacOS, this is one of the biggest advantages of SaxoTrader. You can sign up for a demo account which gives you a 20-day free access to the trading platform.

After downloading the platform, you are able to customize your trading platform. This includes choosing from a host of asset classes as well as the option to choose the primary or secondary markets.

The SaxoTrader Pro trading platform has a visually appealing look. The charting interface is relatively simple and comes with many different standard technical indicators. Trading can be done directly from the charts, or you can make use of the trading account termination to place orders.

You are able to set up different pending orders including GTC (good till cancelled) or GFD (Good for the day) type of trading orders. The charts can be easily detached and attached back to the main interface.

SaxoTrader News & Research

The SaxoTrader’s news and research section is something worth exploring. If you prefer to use fundamental analysis in your trading, then this section offers a lot of information. The news and research section is made up of headlines which you can click to read the full article.

Likewise, there is also a built in economic calendar that you can use directly from your trading platform. Traders can also further customize the news section from a host of sources, which includes NewsEdge, Dow Jones Newswires to name a few.

The News and Research section includes lot of information. Given the fact that you can trade multiple assets on the SaxoTrader platform, the information covers a wide range of markets and keeps you up to date on the latest developments.

SaxoTrader Go Mobile App

The mobile trading interface is also well designed and offers a similar view of the downloadable desktop version. The mobile trading interface allows traders the option to manage their existing positions and also to open new trading positions.

The charting interface is also quite rich and comes with the many standard technical indicators that are available with the SaxoTrader platform.

The navigation for the mobile trading app is quite easy and it allows you to easily navigate between managing your trading account, positions, reading the news research articles and much more. In a way, comparing SaxoTrader Go to many other mobile trading apps, the SaxoTrader GO simply stands out from the crowd.

SaxoTrader Trading Platform – In conclusion

The trading platform is available free of cost if you are a real account holder with SaxoBank. Given the fact that it is a regulated forex broker, traders can rest assured about the safety of their funds and the trade executions.

If you are looking for an alternative trading system, then SaxoTrader (PRO and GO) are two options worth considering. One of the biggest advantages being that SaxoTrader PRO is available as a native application for both Windows and MacOS. Experienced traders can also make use of API interface and even connect to their excel trading sheets to trade direction through this trading platform.

There is a bit of learning curve and amid the drawbacks, you cannot create or upload customized trading indicators. This could be a deal breaker for some traders, especially if you are coming from a Metatrader trading platform.

Having said that, the SaxoTrader is a professional trading platform that packs a lot of features which makes it worth trying out.

Read 403 times Last modified on Thursday, 23 April 2020 19:03