Saxo Bank is a Danish bank, and they are regulated and their customers protected by the Danish bank laws.
Synthesis uses the Saxo Trader platform as a white label like Etrade in Denmark and UK does (Global Trader). PS. I have been trading with Saxo Bank in 3 years, and never had any problems. They have a fine customer service - much better than IB.
Of courcse Saxo is good but not perfect. I think exellent counterparty could be Dukascopy. Even its some ibs like www.invest2forex.com offer trading via personal account with credit suisse.
Saxo is bad and very unstable platform and not to mention other malpractices, don't go far and check their terms specifically about their market making role. Dukascopy is in Switzerland but replies are always from russians. Also you ask them a question they will answer it a month later. O yes $25,000 for such a nice broker services is reasonable. Try their demo nothing but slippage in fact they even give you a disclaimer saying the prices do slip.
Get yourself an account with a PB like RBS, either direct or via a broker. Then set up an account with various ECNs like Currenex, Lava and hotpsot via the one PB. At the end of every day if you are long with one ECN and short with another it all sets off. Avoid all the other ECNs like MBT - they are awful and 'banks' like Saxo.
Hi Lon Eagle Does PB mean Prime Broker? How does one go about setting up an account through a broker? Can you provide some names? Do they look for private individual clients (in addition to corporates)? Can you give some indication as to the minimum requirements (eg, account size and monthly trade volume)? Thanks!
As a Dane I can assure you that Saxo Bank is a real Danish bank. This means your money are safe - up to 30.000 euro.
Yes PB is prime broker. In London Cantors, Man , ODL London Capital will all act as a broker for RBS. They will trade for individuals not just corporates. Not sure of minimum account size but I know you are really expected to trade in say $1/2m+ per trade.