SAXO MARKETS-Some important Details about This Broker
Abstract：SAXO MARKETS is said to be a forex brokerage registered in Cyprus, the company behind it allegedly called “SAXO BANK SCHWEIZ AG”. This broker was firm established not quite long, with its operating time only between two and five years.
Since SAXO MARKETS official website (https://www.saxofore.com/en/) is temporarily down at the moment, we could only piece together this brokerage house by gathering some relevant information from other websites.
General Information
SAXO MARKETS is said to be a forex brokerage registered in Cyprus, the company behind it allegedly called “SAXO BANK SCHWEIZ AG”. This broker was firm established not quite long, with its operating time only between two and five years.
SAXO MARKETSs regulatory status on WikiFX is marked as “No License”, as it has been verified that this broker is currently under no valid regulation, and it has got a quite low score of 1.34/10 on WikiFX. Please be aware of the risk.
Leverage
Leverage is not mentioned anywhere. Nowadays, many European regulators lower leverage cap below 1:30 for major forex pairs to protect retail traders. However, offshore and unregulated forex broker under no restriction on leverage still offers high leverage to attract investors.
Leverage can amplify gains as well as losses, therefore, it is important for traders to choose the proper amount of leverage amount that they feel most at ease.
Trading Platform
When it comes to trading platforms available, SAXO MARKETS offers its clients access to the leading MT4 trading platform,
Negative Reviews
Some defrauded traders reported that this broker is a fraud platform, rejected their withdrawal request and stealing their deposited money.
Before choose a forex broker, it is important to check out some real trader reviews on professional forex broker regulatory inquiry websites, like WikiFX, give you a clear picture of whether a forex broker is regulated or not.
Customer Support
SAXO MARKETS does not release its contact details, which is a dangerous sign. In most cases, quick customer support response matters if something goes wrong with traders trading process.
Risk Warning
Forex trading and leveraged trading carry a high level of risks, and it is not suitable for all investors.
Please note that the information contained in this article is for general information purposes only.
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