Saxo Stock Review: Saxo-stock.com is this Broker Trustworthy?

Saxo Stock Review
  • Regulation
  • Fund Safety
  • Customer Support
0.7

Summary

Saxo Stock does not protect investors against negative account balances. It is possible to lose more money than what you initially deposited. The scheme is also not reporting its transactional report. Therefore, they can manipulate the market price by making it appear as though you have lost money. 

Saxo Stock is a company that provides false information. Everything about the platform is misleading. The broker claims it is an award-winning venture. However, they fail to mention the organization that recognized them for their tremendous services. We can only assume this is one of their marketing ploys. 

Saxo Stock Review, Saxo Stock Company

The firm trades stocks and forex. It allegedly has over 20 years of experience, dating back to 2000. We always emphasize the importance of double-checking information provided on the broker’s website. Therefore, we visited whois.com to verify when the entity was established. 

Shockingly it appears Saxo Stock made its first digital footprint in August 2021. The domain name is privately registered. Hence, it is impossible to obtain the data of the owner. The company plans to be in the industry for only one year. Therefore, you cannot rely on them for long-term services.

Moreover, con artists rarely make it past a year’s duration. They will either have been exposed or willingly close their website after they fail to attract more victims. It is unwise of any company to fake a trading history without having a performance report. We checked but could not find verified results. You are better off without this ambiguous scheme.

Saxo-stock.com Review

Saxo Stock boasts it has a license from one of the best financial watchdogs in the market. You should note that regulatory bodies would never permit such a murky firm to target their citizens. The broker even provides bogus statistics indicating the daily volume of trade executed. So long as the information is not verified, you should not consider it. 

Saxo-stock.com Review, Saxo-stock.com Features

The company tries to convince potential clients they are working with qualified account managers. The law requires all financial investments to operate in full transparency. Hence, the educational background of the experts and years of experience should be availed. 

Saxo Stock is providing customers with daily market analysis. It is a requirement that all investment schemes should have. It ensures customers know the trending news that might affect the price. Unfortunately, the broker is not offering educational resources to investors. 

Invest with some of the top-rated forex trading companies. These are transparent and licensed brokers in the market. Their trading conditions are ideal, and the safety of investors comes first.

Saxo Stock Trading Conditions 

Saxo Stock misled investors by offering both the MT4 and the MT5. However, once you click on the download link, you will be redirected to the web trader. The latter lacks advanced trading features. 

Moreover, a web trader works best for Ponzi schemes. They can easily change the market standard without the user’s knowledge. The Ponzi scheme will only try to convince investors their funds are being invested. 

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Saxo Stock has five investment accounts. Unfortunately, the scheme fails to feature various conditions of the packages. We only know they are offering a leverage of 1:500. The limit is beyond what the financial bodies approve. 

If the broker is based in the UK, it should stick to the permitted leverage of 1:30. They are also offering bonuses to investors. Another proof the company is operating on its own accord. Once you read the bonus withdrawal requirement, you will better stay away from the website. 

If you accept a bonus of $100, then you must trade 4 million currency units. Failure to do that, you cannot cash out. Saxo Stock is a tactical scheme trying to retain your funds on their website without obviously stating. 

Withdrawal and Deposit 

The minimum amount investors can deposit $100. The scheme accepts funds via cryptocurrency, bank transfer, Gatwayservices, and CardPayz. Some of the options available are only used by scammers. Issuing a chargeback wll be a nightmare. 

The venture is charging users an inactivity fee of $50. Saxo Stock does not disclose if there is a withdrawal fee. If you close your account, you will pay a 30% charge from the balance. Such requirements are sickening.

No particular venture in the industry will ask you for such an amount. The venture is only after investors’ money. You should avoid the company like the plague. Otherwise, you will experience unimaginable losses. 

Contact Details and Customer Support 

Saxo Stock features an office address that indicates the firm is operating from the UK. Ponzi schemes tend to come up with random addresses. They do this to appear transparent in the eye of the public. They understand the recursion of exposing themselves. The authority and their victims would hunt them down.

There is a phone number and an email address. However, providing these details does not guarantee you will receive feedback from the platform. The social media accounts link available on the site leads you back to the home page. What is the use of having them in the first place? 

Saxo Stock cannot afford to employ qualified and friendly support. The best thing is to look for a legitimate venture that understands the importance of offering world-class support services.

Saxo Stock Regulatory Status

Saxo Stock boldly claims it has a license from Saint Vincent and the Grenadines. The financial Service Authority (FSA) is the body responsible for the financial body of SVG. A time back, the body issued a warning indicating it does not oversee the operation of online investment ventures. 

The area attracts all sorts of shady investment schemes. To set up a company in the region, brokers do not need to deposit hefty capital. The regulatory agencies require capital. It proves a venture can successfully manage investment activities without misusing clients’ funds. If an entity faces bankruptcy, users stand a chance of receiving compensation.

Saxo Stock does not protect investors against negative account balances. It is possible to lose more money than what you initially deposited. The scheme is also not reporting its transactional report. Therefore, they can manipulate the market price by making it appear as though you have lost money. 

Offshore schemes tend to exit the market unceremoniously without giving notice. They can also change the terms and conditions without giving notice. We have seen cases of clients’ money being withheld. The scammers will cut you off once they realize you have run out of cash. 

Clients Testimonials 

Saxo Stock is promising investors financial freedom. Ironically, the scheme lacks existing clients’ testimonials. The people behind the venture will only steal your hard-earned cash. They have no insight into trading. The traffic that is visiting the website is not much. It also proves investors are not interested in the scheme services. 

Be watchful of shady investment platforms. They never offer fund safety to traders. They also pay random people to endorse them. If you are not careful, you can end up believing these false statements. You can find genuine reviews from third-parties websites.

Final Verdict

Lethal scammers are running Saxo Stocks. Do not join them with the hope of earning. The broker will eventually exit the market. The question is, when will they shut their operation? Be careful they don’t disappear with your savings. Offshore ventures are dangerous, and Saxo Stock is no exception.

Here is a list of some genuine forex brokers in the market. Sign up with them today and enjoy ideal trading conditions. The scheme operates in full transparency, and you can check its trading performance. The support team also handle issues facing customers professionally and in time.

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