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Score

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0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

SAXO MARKETS

Cyprus Cyprus | 5-10 years |
Suspicious Regulatory License | Suspicious Scope of Business | High potential risk

http://www.saxofore.com/en/

Website

Rating Index

Contact

http://www.saxofore.com/en/

license Forex License

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
Cyprus
Operating Period
5-10 years
Company Name
SAXO BANK SCHWEIZ AG
Website
Company Summary
Disclosure
News
Wiki Q&A
Comment

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Official Website

Website

  • saxofore.com
    223.25.242.40
    Server Location
    Malaysia Malaysia
    ICP registration
    --
    Most visited countries/areas
    --
    Domain Effective Date
    --
    Website
    WHOIS.VERISIGN-GRS.COM
    Company
    -

Company Profile

Company Profile

Review summary

Since SAXO MARKETS official website (http://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.

wikifx

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.

Keywords

  • 5-10 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

News

Ken Shih Has Been Appointed to Lead Saxo Markets' Digital Wealth Services in Greater China

News Ken Shih Has Been Appointed to Lead Saxo Markets' Digital Wealth Services in Greater China

Ken Shih has been named as the Head of Wealth Management in Greater China by Saxo Markets, the licensed subsidiary of Saxo Bank, a fintech expert that links consumers to investment possibilities in global capital markets.

Saxo Markets Singapores Client Onboarding Jumps 24% in H1

News Saxo Markets Singapores Client Onboarding Jumps 24% in H1

75 percent of the new traders on the platform are below 40 years old.

Saxo Bank Sees Monthly Recovery of FX Trading Demand in July

News Saxo Bank Sees Monthly Recovery of FX Trading Demand in July

Overall trading demand on the broker strengthened to $309.5 billion.

Wiki Q&A

How safe is trading with SAXO MARKETS?

SAXO MARKETS operates as an unregulated entity with a WikiFX score of 1.54, which warrants a severe risk warning due to the complete absence of credible financial oversight and investor protection mechanisms.

Two days ago
United States

What is the regulatory status of SAXO MARKETS?

SAXO MARKETS operates without any verified forex trading licenses. The formal entity SAXO BANK SCHWEIZ AG is established in Cyprus but is identified as having no valid regulatory authorization for its current business scope.

Two days ago
United States

When was SAXO MARKETS established?

The firm has been active in financial markets for approximately 5 to 10 years, with its formal entity registered in Cyprus.

Two days ago
United States

What factors should I consider when choosing a safe forex broker?

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

Two days ago
United States

What does it mean if a broker holds multiple regulatory licenses?

If a broker holds multiple regulatory licenses, it usually means that it operates in multiple countries or regions and needs to comply with the requirements of different regulatory authorities. Its overall credibility is generally higher. However, it should be noted that regulatory strength differs between licenses. Some offshore regulations have weaker restrictions, so safety should not be judged only by the number of licenses. It is recommended to focus on whether the broker holds licenses from major regulators such as FCA or ASIC, and evaluate its regulatory status, historical records, and overall rating together. You can also check all regulatory information and performance under different regulators on the WikiFX platform to more comprehensively assess its actual risk level.

Two days ago
United States

How can I identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

Two days ago
United States

How should I compare different forex brokers to find the best one?

To compare different brokers, investors can make comprehensive judgments from multiple dimensions such as regulatory qualifications, overall ratings, trading environment, account conditions, and user feedback. In general, priority should be given to regulatory status and license information, followed by WikiFX ratings and various indexes (such as risk control, software, and business indexes). At the same time, trading conditions (such as spreads and execution speed) and account information (such as minimum deposit and account types) should also be compared. In addition, user reviews, exposure records, and risk assessment information can also be considered to evaluate broker safety and trading experience from multiple aspects. The WikiFX platform also provides multi-dimensional broker comparison tools. Users can select different brokers for visual comparison and comprehensive analysis, so as to make decisions more efficiently.

Two days ago
United States

What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

Two days ago
United States
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