Options are specialized financial instruments that give you the right to buy or sell the underlying asset at a certain price in the future. They have many different uses and can be very profitable if used by an experienced trader with a clear strategy, but they are still considered pretty risky. That’s why not every broker out there allows you to trade them, and it’s extremely important to find a platform that has them among its supported assets. In this article, we analyze whether Saxo Bank allows you to trade them.
About Saxo Bank
Saxo Bank is a well-known European broker headquartered in Copenhagen, Denmark. It is especially popular among European traders, but it’s also well-known in other countries like Australia. Saxo Bank is a reputable and well-regulated broker licensed by the FSA (Financial Supervisory Authority), so you can be sure your funds are protected and insured. However, the company requires that you complete a verification process while signing up to prove your identity.
Saxo Bank is mostly known for its attractive trading terms. There are several account types, and while the basic one is pretty average when it comes to trading conditions, advanced accounts can be really beneficial because of their narrow spreads and high leverage for Forex pairs. But you need to invest a large sum of money to access them: for example, a Professional account requires at least €500,000 in deposits. That’s why Saxo Bank is considered more suitable for expert traders, not for novices.
Another advantage of this broker often mentioned by its clients is the wide choice of assets. What can you trade here? Can you trade options at Saxo Bank? Let’s find out.
Saxo Bank really has an extensive selection of available trading instruments for you to choose from. It features Forex pairs, stocks, bonds, CFDs, and many other types of assets, including options. You get access to 20 options markets with this broker, and while some of its competitors have even more, that is more than enough to consider it a good choice of instruments. However, be wary that your account value must exceed $5,000 to trade options. If you need to know more about how options work, there’s an educational section on the website that features video tutorials in English. If you have a problem or a question, feel free to contact the 24/5 customer support service.