Saxo Bank does offer a Demo Account that mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
Saxo Bank at a Glance
| Broker's Name | Saxo Bank |
| 🏛️ Headquarters | Copenhagen |
| 📅 Year Founded | 1992 |
| ⚖️ Regulating Authorities | FCA, Consob, Czech National Bank, Bank of the Netherlands, Monetary Authority of Singapore, FINMA, Bank of France, Central Bank of the UAE, FSA, Securities and Futures Commission of Hong Kong, ASIC |
| 🌐 Countries not accepted for trade | United States, India, South Africa, Nigeria, Brazil, Pakistan, Spain, Portugal, Mexico, Kenya. |
| 📌 Accounts | Saxo Account Joint account Corporate account Professional account Portfolio ased Margin account |
| ☪️ Islamic account (swap-free) | No |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | Yes |
| ⬆️ Maximum Leverage | 1:3000 |
| 👉 Sign Up Bonus | No |
| 💰 Minimum Deposit | USD 0 USD / 0 ZAR |
| Spread | 0.0 pips |
| 💳Fees | Deposit and Withdrawal fees |
| 💳 Deposit Options | Bank wire transfer Credit and debit card |
| 💳 Withdrawal Options | Bank wire transfer Credit and debit card |
| 📊 Platform Types | Saxo TraderGO |
| 📶 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Forex Bonds Equities ETFs Mutual Funds Options Futures CFDs (Depending on region) Cryptos |
| 💬 Languages supported on Website | Multiple |
| 💬 Customer Support Languages | Multiple |
| ⏲️ Customer Service Hours | 24/5 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
FCA, FINMA, FSA, ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
160+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Saxo Bank below.
Saxo Bank Demo Account – 7 key point quick overview:
Saxo Bank at a Glance- Saxo Bank Overview
- How to set up a Saxo Bank Demo Account – Step by Step
- Saxo Bank Customer Reviews
- Saxo Bank Pros and Cons
- Saxo Bank Conclusion
- Frequently Asked Questions
Saxo Bank Overview
The demo account is available instantly upon registration with Saxo Bank, which will allow users to navigate the trading platform and explore its functionality.
The demo account is funded with virtual currency and does not appear to expire, affording users enough time to familiarise themselves with the broker’s features.
The demo account can also be opened alongside a live account. This is a useful feature as it will allow traders to test out various trading strategies in a risk-free, demo environment before applying them to the live Forex market.
A forex demo account is also referred to as a practice account, which is used for practicing trading or to test a new trading strategy without any risk to actual money.
A forex demo account is also intended for beginners to get familiar with the various aspects of trading.
As such, a demo account will allow traders to learn how to place orders, and manage existing trade positions as well as more advanced functions such as testing or fine-tuning a trading strategy.
If you are new to trading, then it is highly recommended that you first open a forex demo account until you are comfortable with both your trading strategy as well as the intended trading platform itself.
How to set up a Saxo Bank Demo Account – Step by Step
1. Step 1 – Register an account
Navigate to the official Saxo Bank website. Select the option to register with the broker. You will be redirected to the registration page
2. Step 2 – Complete Information
Provide your details, such as full name, contact details, and country of residence.
3. Step 3 – Complete Information
Upon your successful registration, a demo account will be automatically opened with your login details sent to your inbox.
Saxo Bank Customer Reviews
Too High commissions
Too High commissions
Does not Care too much about client risk.
I’m happy here
I’m happy here, it suits me more than ever
one of the better banks in terms of…
one of the better banks in terms of services and rates in that country
Saxo Bank Pros and Cons
| ✔️ Pros | ❌ Cons |
| Impressive trading platforms | High minimum deposit |
| Wide range of instruments | No sign-up bonus |
| Attractive commissions on referrals | No swap-free account is available |
| Well-regulated broker | Relatively high commissions |
| No deposit or withdrawal fees | High commissions |
| Wide selection of deposit currencies | No Islamic Account |
Saxo Bank Conclusion
Overall, Saxo Bank does offer a Demo Account that mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
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Min Deposit
USD 0
Regulators
FCA, FINMA, FSA, ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
160+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
Can traders from South Africa open a Saxo Bank demo account?
Yes, traders from South Africa are welcome to open a Saxo Bank demo account.
For how long is the demo account valid?
The demo account from Saxo Bank does not appear to expire.
Which live trading accounts does Saxo Bank offer?
Saxo Bank offers three types of retail accounts, consisting of the Classic Account, Platinum Account, and the VIP Account. Saxo Bank also offers a Corporate Account and a Professional Account.
What are the available deposit currencies for a live trading account?
Saxo Bank has a wide selection of up to 26 deposit currencies. These include smaller currencies like ZAR so that most traders will likely not incur conversion fees when depositing with the broker.
Is Saxo Bank safe?
Yes, Saxo Bank is a trusted broker who is authorized by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust)
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