Saxo Bank is a Danish bank specializing in online trading and investment. The Bank provides access to over 40,000 instruments for online trading including 182 currency pairs and more than 19,000 shares. Saxo Bank has developed its own platform, and there are two versions available – a web-based terminal called SaxoTraderGO, and the desktop one called SaxoTraderPRO. You can see our review of the SaxoTraderGO terminal here. As the name implies, SaxoTraderPRO is designed for professional traders. It includes all the features of the web-based version so we will focus on the new features of the desktop version.
The installation file is about 57MB. During the installation you should choose the asset groups and the markets you will trade. We have already tested the web-based terminal with our demo account and SaxoTraderPRO imports all the presets. So, the white theme is loaded, and it looks like the SaxoTraderGO version.
All windows here are called modules and can be duplicated, removed, moved, docked, undocked and resized. They can also be dragged to another screen of the secondary monitor. The instrument window includes the Depth Trader tab that shows level 2 market data (prices and volumes) and you can trade from here as well. Modules can be linked so that the information for all of them is relevant. Lastly the new arranged workspace can be saved.
Orders and Positions windows are split. When you open a new position, it appears in the Positions window and a notification box appears. You can also see some expert market opinions in the Insights section of this box. Content is updated automatically.
The advanced Order module has an additional feature called Type. You can slide it to see all types of orders. You can also search for an instrument or change the entire asset class.
The main difference from the web-based version is the presence of algorithmic orders in the advanced Order module. The company claims that they can be set for major markets in the US, Europe and Asia, but we could not find this feature there. It may only be available on live accounts.
Charts have the same functionality as in the SaxoTraderGO but here you can use them as a single or duplicate module. You can trade directly from the chart window as well.
A new menu button is added at the top right corner of the workspace. Each module can be called from here by clicking the corresponding button.
The entire workspace can be dedicated to charts, news and economic calendar or account summary.
We can conclude this is a professional platform designed for experienced traders. It has all the features of the web-based version and adds a lot of new ones. While the platform may be called a worthy competitor to a MetaTrader, it is more sophisticated and less intuitive.