Opening an Account with SAXO Bank
Saxo bank is essentially a broker that makes it possible to trade, invest or hedge using 42 000 instruments, including indices, CFDs, shares, futures, options, bonds and other instruments.
It is a long-established broker with a strong track record that holds a banking licence. Since it is not just a broker but a bank, all accounts are guaranteed by the deposit guarantee fund up to 100 000 EUR. The SaxoTraderPRO trading platform works on the main operating systems, Windows and Mac, with multi-screen setup, while SaxoTraderGO also lets you receive information on mobile devices.
Opening an investment account is often quite a hassle, especially for citizens of CIS countries: every year bank compliance becomes more sophisticated, more selective and more bureaucratic. That is why submitting documents to a foreign bank should be handled with the support of a professional.
The account opening procedure at Saxo bank includes:
Filling in the bank forms required to open the account, a CV of the company's beneficial owner, a description of the company's business, identification of the beneficial owner at our office, as well as of the account manager if this is not the same person. Providing documents confirming the source of the invested funds. The list of required documents may vary depending on the company's business, its country of registration, and the country of residence of its beneficial owner, director and shareholder. The company must also have an account with another bank, and the client must provide a certificate confirming that such an account exists.
Cost of account opening support
500$
Account types
- Investment
- Personal and corporate
Account opening cost (bank fee)
free of charge
Bank presence in other countries
Representative offices: Australia, United Kingdom, Spain, Italy, China, Russia, Singapore, France, Czech Republic, Switzerland and Japan.
Service fees
The bank has three tariff plans with different sets of services:
- Classic: minimum investment — 10 000 EUR
- Premium: minimum investment — 100 000 EUR (Features lower spreads and commissions and a personalised approach)
- VIP: Minimum investment — 1 000 000 EUR (Features the lowest spreads and commissions and the best service. Trading with 1:1 leverage)
Account opening time
up to 7 days
Banking products
The bank provides an online platform for trading a wide range of instruments — forex, futures, options, bonds, shares and others.
Staff
Russian-speaking staff available.
Account management
- Online banking.
- Trading terminal.