Forex Broker Summary: Saxo Bank - Account Types And Requirements

Saxo Bank offers three different types of accounts, ranging from its basic classic account to its advanced premium account. The primary differences between the accounts - other than the minimum deposits as qualifiers - are the commissions (e.g. spreads) and customer service.

Here are the three account types in more detail:

• Classic Account - With a $2,000 minimum deposit and access to its suite of trading platforms, the classic account is designed for entry level and average forex traders looking for solid platforms and access to a market-leading number of currency pairs.
  
  
• Premium Account - With a $100,000 minimum deposit, premium accounts have access to their own personal account manager, as well as subaccounts for forex traders looking for access to many different markets with the same base currency.
  
  
• Platinum Account - With a $500,000 minimum deposit, platinum accounts have competitive, flexible pricing for high volume forex traders, as well as forex options on more than 40 currency pairs at interbank spreads and preferred customer service.

These accounts are eligible to trade not only currencies, but also a wide array of other securities, including Contracts for Difference (CFDs), Exchange-traded Funds (ETFs), stocks, futures, options and other derivatives. Forex options are also offered on more than 40 currency crosses, including gold and silver against the U.S. dollar, in both vanilla and binary touch formats.

All of these accounts are eligible to use Saxo Bank's award-winning online trading platforms, including its SaxoWebTrader, SaxoTrader, SaxoMobileTrader and SaxoTrader App.