saxo bank stock broker

asksm

Registered User
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Is anyone using Saxo Bank in Denmark as a stock broker to trade ETFs?
If so:
1) was there any difficulty opening an a/c from Ireland?
2) are they low cost?
3) any other comments?
 
Saxo

There should be no problem opening an account.
They have taken on some accounts from FXCM as the latter introduced an inactivity charge. See separate thread on that and whether Saxo will also shortly do the same.
Trade fees seem reasonable & fair at present.

No possibility to deal in share options when asked, but they may be introducing that function also - you would need to ask them when (do let us all know the answer!).

You will need to specify a base currency for your dealing. presumably euros. I suggest you also clarify how it is handled if you want to deal in shares denominated in GBP or USD and how high any conversion charges are i.e. whether you pay 0%, 0.5%, 1% built into the currency conversion between stock currency and base currency.

I would also be interested in other comments and opinions on these points.
Also since basic share options trading such as selling covered calls has been of interest and FXCM seems less attractive due to inactivity fees; does anyone have a recommended on-line broker in GB/mainland Europe for such options ?
 
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