saxo sucks

[OpenTrade]

bad currency conversion price, wide FX spread, slow ticket handling

 

[Robert Morse]

Consider a switch to the CME FX Futures. CME is your counterparty vs your broker. One single market with price transparency. They even have different size contracts. https://www.cmegroup.com/trading/products/#pageNumber=1&sortAsc=false&sortField=oi&group=3&page=1

 

[traider]

If you do a lot of volume with saxo you can get good rates

 

[def]

bad currency conversion price, wide FX spread, slow ticket handling

Or just take a look at IBKR - Here's a current snap shot at 5:18 EDT/18:18 HK. True spot settlement. If you don't like the spreads which are as tight as 1/10 of a pip (note I have my screen set to round to half a pip increments to reduce noise but clients can choose to display the extra level. regardless, best ex prevails) you can work the order or trade the listed

futures around the world.

 

[Maverick2608]

The fact that Saxo can exist and earn net income just short of DKK 1 billion (latest annual report for 2018) is in itself a testament that markets are not efficient.

Saxo provides its customers with an inferior offering in all aspects of the business compared to Interactive Brokers. Every Saxo client has the possibility to choose Interactive Brokers instead, but Saxo still delivers DKK 1 billion in annual net income.

 

[traider]

Or just take a look at IBKR - Here's a current snap shot at 5:18 EDT/18:18 HK. True spot settlement. If you don't like the spreads which are as tight as 1/10 of a pip (note I have my screen set to round to half a pip increments to reduce noise but clients can choose to display the extra level. regardless, best ex prevails) you can work the order or trade the listed View attachment 218628 futures around the world.

IB forex is great for intraday trading but the swap rates are not competitive. I find it cheaper to hold CME futures for a longer term position

 

[heispark]

Saxo sued several traders who didn't reimburse their negative accounts during the SNB black swan saga.....

 

[traider]

Saxo sued several traders who didn't reimburse their negative accounts during the SNB black swan saga.....

Who won the case?

 

[heispark]

Who won the case?

Sorry, I don't know.... I guess it's Saxo. Traders could be responsible to their negative accounts depending on agreement with their brokers....

 

[hoffmanw]

bad currency conversion price, wide FX spread, slow ticket handling

If you trade couple hundred million US dollars a month, you can get pretty decent spreads and fills at forex prime brokers.

They are deep liquid providers. Fill is almost immediate. They can fill a $20 million order in couple seconds like it is nothing. Slippery is rare. In addition, they will give you volume rebate to offset the minimal spreads you pay.