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Efutures recently partnered with Saxo Bank, prompting my inquiry about the deal to Efutures, which is one of the U.S. firms I have been looking at for currency futures trading. Saxo’s retail operation is unregulated (even in Denmark, where Saxo is located) , and Saxo has a bad reputation. I...

_______________ In reply to Ivan, above, I referred him to my brief description earlier this thread of my bad experience with the FX dealer I traded with, Saxo Bank. His question deserves a more thorough response. Here's what occurred: I and my partners carefully read the Saxo customer...

___________________________________ When we were cheated by Saxo, I and may partners contacted the Danish government financial regulator that Saxo itself says it is regulated by. The regulator replied that it could not take our complaint and would not and could not tell us ANYTHING (we were...

______________ Go to first page of this thread, third post (which is mine), where I briefly describe what happened. Moneytec board has additional information on Saxo, from me and from others with FX experience.

Quit cash FX altogether because of the debacle with Saxo. I never again would consider trading with a FX dealer -- it's like betting with a bookie and letting the bookie choose the final score. Nutty. In hindsight, we were fools ever to have believed Saxo's hype. The bells and whistles of its...

____________________________________________ Quit cash FX altogether because of the debacle with Saxo. I never again would consider trading with a FX dealer -- it's like betting with a bookie and letting the bookie choose the final score. Nutty. In hindsight, we were fools to ever have...

Avoid SaxoBank: it is dishonest. In our six-figure USD Forex trading account with it, it cheated us out of more than 12k USD by manipulating prices against our positions and orders and refusing to fill profitable limit orders. Also bear in mind that SaxoBank's so-called Danish regulator will...

Please see the extra 2 paragraphs I added to my post. They'll answer your question.

We had a six-figure USD account with Saxo, and I stand by my description of Saxo's order theft in our account. It absolutely occurred as described. I also can cite the parts of the customer account agreement Saxo required us to sign in which Saxo says that it can discriminate against...

Scenario one, based on my first-hand experience with Saxo Bank: Send an entry order (to create a new open position) via the platform and receive confirmation of order. Check open order page of the platform. The order is there. The order is a limit order to buy major pair at __.50, and later...

No, but I traded to my regret with the dealer who provides RCG with its FX platform. The dealer, Saxo Bank, white labels the Saxo Trader to RCG. Saxo burned the account I traded, refusing to fill limit orders and intervening against profitable trades. In most instances, there was no instant...

No takers, eh, not even NumidianCavalry, who wrote back in November: "Saxo Bank is very good - endless liquidity on all majors and crosses. Competitive prices and lightning execution"? Guess Saxo oughta pay its touts more, or more often, to keep them around. Note that Saxo now "powers" the...

Dive in, I say. Maybe they'll put a star by your name and give you a fair shake.

FxBasher asks, "Chood, could you point out what paragraph is it at Saxo customer account agreement? Thanks." See paras 12.6-12.9, 12.14-12.15, and 14.1-14.2.

Lon Eagle corrected me, although my post, read entirely, shows that I meant 300k DKK, not 30k DKK. My Saxo customer account agreement, para 22.3 states, "The Guarantee Fund for Depositors and Investors Act provides security for cash deposits up to DKK 300,000 and for securities up to EUR...

I traded with Saxo. The depositor protection, via the Danish government, is 30k Danish (Euro pegged), not 60k Euro. Also, it applies only to cash deposits and, in part, to securities, not spot FX positions. That was last year, so unless the protection has changed and doubled since then, the...

I agree. The advertised smaller spreads, just like the so-called "transparency," "streamed prices," and "instant execution," are come-ons for the unwary. As a dealer, Saxo simply sells at the highest price it can get from an individual customer, and buys at the cheapest price it can get...

Swoop[TR] wrote about FX brokers: "They don't really care that you make money or not, they're just matching bids and asks." I disagree mightily, based on my first-hand experience trading a large account with Saxo Bank, which is one of the so-called spot FX "brokers." First, Saxo is not a...