When comparing SaxoTrader vs Robinhood, the Slant community recommends Robinhood for most people. In the question“What are the best trading platforms?” Robinhood is ranked 2nd while SaxoTrader is ranked 4th. The most important reason people chose Robinhood is:
If you know that an important goverment report is coming out, or a company in your portfolio is expected to release its 10K, you can create a notification to warn about this beforehand to stay on top of the information flow.
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Pros
Pro Lots of tools for technical analysis
There is a big variety of chart types - line, area, Heikin-Ashi, and others. There are different indicators available, like trading volume, moving averages, Fibbonaci retracement, and so on.
Pro Big variety of instruments available
The instruments you can trade vary from stocks, forex, CFDs, ETFs, futures, and options.
Pro Mobile and Web versions available
Besides the Desktop application, there is a Web version and mobiles app. Although it has to be noted, that they don't include all the features of the platform.
Pro Lots of free learning resources
Free video tutorials are made by Saxo Bank that help to start using the platform. They cover everything from setting up your workspace to creating orders.
Pro Integrated news screen
You can view the latest news regarding your investments right in the platform. They are aggregated from different sources to provide a more objective perspective.
Pro You can set notifications for important events
If you know that an important goverment report is coming out, or a company in your portfolio is expected to release its 10K, you can create a notification to warn about this beforehand to stay on top of the information flow.
Pro Great for beginners
This app is great for beginner investors, because the entry threshold is non-existent - you can start trading with whatever capital you have; and there are no commissions that bite off you profits.
Cons
Con Support team can seem irritating
Saxo Bank's team is known to call from time to time to inquire about your experience with the platform. Although there's nothing intrinsically bad with that, it can become annoying really fast.
Con High initial deposit is required
To start trading with Saxo Bank's platform, you need to deposit at least $10,000 into your account.
Con Limits buy orders of certain stocks
As of last week the service started limiting buys of certain stock, this is ongoing and a huge problem for many service users.
Con Only for US citizens/residents
You need to be a US citizen or resident, with a legal US residential address, and a valid social security number.
Con Limited options for analysis
This app wasn't intened for analysis as much as convenient execution. If you rely on technical analysis to make your investment decisions, you will have to find a third-party software for that.
