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.
All of these accounts are eligible to use Saxo Bank's award-winning online trading platforms, including its SaxoWebTrader, SaxoTrader, SaxoMobileTrader and SaxoTrader App.Forex Broker Summary: Saxo Bank - Commission Structure
TradingThe line between profitable forex trading and ending up in the red may be as simple as choosing the right account.
Managing WealthWhich perks and services come with Premier Platinum and is it worth the cost to you?
TradingWhen approached as a business, forex trading can be profitable and rewarding. Find out what you need to do to avoid big losses as a beginner.
Personal FinanceTime deposit accounts and call deposit accounts allow customers to earn higher interest in exchange for less access to their cash.
InvestingA demand deposit is any type of account where the money in the account may be withdrawn at any time without prior notice to the financial institution.