An online trading account from Saxo Capital Markets is used as a way for an investor to purchase stocks, in relation to investments. These online trading accounts can hold not only stocks, but also cash, securities and other types of investments available at Saxo.
Below are the main online trading accounts offered at Saxo
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Classic Account
For this account traders and investors can open with just a minimum funding of £1,500.
The Products available in this account and their relative prices are as follows;
Forex
GBP USD 0.7 pips
EUR USD 0.6 pips
CFDs
UK 100 0.8
Gold 0.60
Stocks
UK Stocks 0.10% (min. £4.99)
US Stocks 0.01 USD/share (min. $9.90)
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Platinum Account
To open this online trading account, active traders and investors need a minimum funding of £50,000.
The Products available and pricing for the Active traders include
Forex
GBP USD 0.6 pips
EUR USD 0.5 pips
CFDs
UK 100 0.8
Gold 0.55
Stocks
UK Stocks 0.07% (min. £4.99)
US Stocks 0.01 USD/share (min. $7.00)
- VIP Account
This online trading account is suitable for the high-volume traders and investors hence the reason why the minimum funding required is £1,000,000. The pricing of the products available here include.
Forex
GBP USD 0.4 pips
EUR USD 0.4 pips
CFDs
UK 100 0.8
Gold 0.50
Stocks
UK Stocks 0.05% (min. £4.99)
US Stocks 0.01 USD/share (min. $3.00)
Additional services offered in these online trading accounts include
Integrated online support, a 24-hour customer service enhanced with the clients local language support together with expert news and analysis.
One can access the accounts on the SaxoTraderGO platform and the SaxoTraderPRO.
Other Online Trading Accounts
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Saxo Professional
Experienced investors can also open a Saxo online trading account as an elective professional. Professional traders are not subject to the regulatory product interventions intended for the less experienced traders.
One may be eligible as a Professional client if they meet at least two of the following conditions:
- A financial portfolio that exceeds €500,000
- Has Placed 10 relevant trades in significant sizes over the last four quarters
- Works, or has ever worked in the financial sector for at least 1 year
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SIPP Account
The Self-Invested Personal Pension is HM Revenue and Customs approved personal pension scheme specially designed for investors who prefer flexibility and control over their investment strategy which includes the asset classes in which their pension fund is invested.
Saxo Capital Markets facilitates the trading of SIPP funds in derivative products, which are subject to any SIPP scheme restrictions.
However, trading derivative products often carry a high level of risk to capital since it is possible to incur losses that can exceed the initial investment.
During the trading of derivative products through the SIPP, Saxo Capital Markets restrict dealing or trading services in some products such as the FX Options, they will also apply an increased margin requirement higher than the standard Retail Product Rates and Conditions thus minimizing the amount of leverage or gearing available.
Benefits of trading with SIPP account
A SIPP puts the trader in control since they always know where there money is invested and how it is performing
The account provides generous tax benefits to the contributions made in the account.
SIPP account plans are free from the Capital Gains Tax (CGT) and Income tax.
One cannot withdraw their money from the SIPP account until the age of 55; however you may normally take up to 25% of the SIPP as a tax free lump sum during this time.
The SIPP funds can be transferred to the spouse free from inheritance tax in case of death before taking the benefits.
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Corporate Account
Saxo has made the application of a Corporate Account is straightforward. All that is required is to complete a Corporate Application Form and submit it together with a minimal funding of £60,000.
- ISA Account
This account enables one to make the most of the full ISA allowance of £20,000 with a Saxo Stocks & Shares ISA.
