Saxo Bank
Founded in 1992, Saxo Bank is a fully licensed Danish investment bank that serves as a behemoth in the online trading space. Standing far above a standard retail broker, Saxo offers an astonishing 40,000+ instruments across almost every asset class imaginable—from real equities and bonds to futures, options, and CFDs. While its pricing models and platform complexity (including the incredible SaxoTraderPRO) make it best suited for professional or high-net-worth investors, recent reductions in minimum deposits have made its elite execution and Tier-1 regulatory safety far more accessible to standard retail traders.
Editor Rating
Calculated from 7+ safety & service metrics
Affiliate Disclosure: We may receive compensation when you click on links. This does not affect our ratings or reviews.
—
0.6 pips (Classic)
pips1:30
40000+
Pros
- Holds a real Danish Banking License ensuring ultimate fund safety
- Over 40,000 tradeable instruments (equities, bonds, futures, options, CFDs)
- Industry-leading proprietary platforms (SaxoTraderGO & PRO)
- Institutional-level research and market analysis provided daily
- Removal of minimum deposit barrier democratizes access
Cons
- 0.15% annual custody fee on holdings (avoidable via stock lending)
- Highest tier 'VIP' pricing requires a massive $1M account size
- Not particularly friendly or curated for absolute beginners
Who is it for?
A true multi-asset powerhouse. If you have the capital and the experience to utilize its vast tools and market access, Saxo Bank has virtually no equal in the retail space.
Is Saxo Bank Safe?
No regulation information available for this entity.
Safety Score
High ConfidenceEditorial Summary
Client Fund Protection
Protection Snapshot
Limitations
Regulatory Oversight
Regulatory Coverage
Editorial Summary
—
1992
Company Facts
Headquarters
Denmark
Founded
1992
Publicly Listed
No
Bank-backed
Yes
License Summary
| Regulator | Legal Entity | License |
|---|---|---|
| Unknown | Saxo Bank A/S | Authorized 1149 |
| FCA | Saxo Capital Markets (UK) Limited | Authorized 551422 |
| ASIC | Saxo Capital Markets (Australia) Pty Ltd | Authorized 280372 |
| Unknown | Saxo Bank (Switzerland) Ltd. | Authorized CHE-106.787.764 |
| MAS | Saxo Capital Markets Pte. Ltd. | Authorized — |
| SFC | Saxo Capital Markets HK Limited | Authorized AVD061 |
Saxo Bank Fees and Spreads
Compare brokersCosts at a glance
Saxo Bank's pricing model benefits volume traders. VIP account tiers access elite spreads (down to 0.4 pips on EUR/USD), while standard Classic accounts pay average spreads. Commissions apply on real stocks and futures, but FX and CFDs are largely spread-only.
EUR/USD typical spread
0.6 pips (Classic)
Crypto costs
Average
Commissions
Disclosed
Varies by instrument
Non-trading fees
Average
Real trading costs may vary depending on liquidity, volatility, and account structure.
Fee breakdown
| Fee type | Details |
|---|---|
| Trading | |
| Spreads | Forex spreads are tiered by account size (Classic, Platinum, VIP). Classic accounts see EUR/USD around 0.6 pips, while VIPs get near-interbank rates of 0.4 pips. |
| Commissions | Real US equities cost a minimum of $1.00 per trade. Listed options run as low as $0.75 per contract. Futures start at $1.00 per contract depending on volume. |
| Execution notes | Saxo operates as an electronic communication network (ECN) matching engine for equities, but acts as a highly liquid market maker for its FX and CFD flow derived from Tier 1 bank pools. |
| Non-trading | |
| Withdrawal fees | Bank transfers are free in the vast majority of regions. |
| Inactivity fee | While outright inactivity fees were recently abolished in many regions, a custody fee of 0.15% annually (min €5/month) applies if holding actual stocks/bonds unless opted into stock-lending. |
| Currency conversion | A highly transparent currency conversion fee of up to 0.25% applies to trades settling in a currency different from the account base. |
How we assess fees
Analyzed standard Classic account pricing data against professional ECN/STP competitors, taking into account volume-based discounts and custody charges.
Fees & Cost Assessment
Is this broker cheap, average, or expensive? Our editorial assessment normalizes costs across account types to give you a clear answer.
Cost Score
High ConfidenceEditorial Summary
Trading Cost Implications
Cost Snapshot
Editorial Explanation
Limitations
Non-Trading Cost Considerations
Cost Snapshot
Editorial Explanation
Limitations
Saxo Bank
Ready to get started?
Saxo Bank Platforms and Tools
Available Platforms
Platform Quality Assessment
Proprietary Web Trader
SaxoTraderGO is the web and mobile hub. It perfectly bridges the gap between deep market access and usability, featuring excellent charting and integrated account management.
Limitations
Can feel cluttered due to the sheer volume of tradeable assets.
Quality Snapshot
Platform 2
SaxoTraderPRO is a masterpiece of desktop trading software. It supports up to 6 screens natively, algorithmic orders, options chains, and Depth of Market (Level 2) data.
Limitations
Complete overkill for simple directional forex trading or novices.
Quality Snapshot
Markets & Instruments
40000+ instruments available across all markets
How to Deposit and Withdraw at Saxo Bank
Payment methods
No payment method data available.
Withdrawal processing
Actual processing times may vary by payment method and jurisdiction.
Customer support
Live Chat
AvailablePhone
AvailableCallback
Not availableAvailability & languages
Support hours
Local Business Hours (24/5 for FX)
Languages
English, Danish, French, German, Spanish, Japanese, Chinese, Arabic
Saxo Bank Account Types
| Account | Execution | Min Deposit | Spread from | Commission |
|---|---|---|---|---|
| Classic | Market | $0 | 0.6 | Standard |
| Platinum | Market | $250000 | 0.5 | Discounted by up to 30% |
| VIP | Market | $1000000 | 0.4 | Discounted by up to 50% |
Classic
Execution
Market
Min Deposit
$0
Spread from
0.6
Commission
Standard
Instruments: All 40,000+ instruments
Platinum
Execution
Market
Min Deposit
$250000
Spread from
0.5
Commission
Discounted by up to 30%
Instruments: All 40,000+ instruments
VIP
Execution
Market
Min Deposit
$1000000
Spread from
0.4
Commission
Discounted by up to 50%
Instruments: All 40,000+ instruments
Trading conditions may vary based on account selection and regulatory jurisdiction.
Education & Research
Education
Saxo relies more on its daily macro-economic podcasts and deep-dive strategy reports than hand-holding tutorials.
Limitations
Beginners may find the terminology and assumptions of existing knowledge intimidating.
Quality Snapshot
Research & Market Insights
The 'SaxoStrats' analyst team provides institutional-level morning notes, equity themes, and macro forecasts. It is comparable to research provided by Tier-1 bulge bracket investment banks.
Limitations
Some Level 2 order book data for real equities requires a paid monthly exchange subscription.
Quality Snapshot
Saxo Bank Review
Editor Rating Breakdown
Verdict
Excellent
Saxo Bank
Ready to get started?
Frequently Asked Questions
Affiliate Disclosure: We may receive compensation when you click on links. This does not affect our ratings or reviews.
—
0.6 pips (Classic)
pips1:30
40000+
Pros
- Holds a real Danish Banking License ensuring ultimate fund safety
- Over 40,000 tradeable instruments (equities, bonds, futures, options, CFDs)
- Industry-leading proprietary platforms (SaxoTraderGO & PRO)
- Institutional-level research and market analysis provided daily
- Removal of minimum deposit barrier democratizes access
Cons
- 0.15% annual custody fee on holdings (avoidable via stock lending)
- Highest tier 'VIP' pricing requires a massive $1M account size
- Not particularly friendly or curated for absolute beginners
Who is it for?
A true multi-asset powerhouse. If you have the capital and the experience to utilize its vast tools and market access, Saxo Bank has virtually no equal in the retail space.
Is Saxo Bank Safe?
No regulation information available for this entity.
Safety Score
High ConfidenceEditorial Summary
Client Fund Protection
Protection Snapshot
Limitations
Regulatory Oversight
Regulatory Coverage
Editorial Summary
—
1992
Company Facts
Headquarters
Denmark
Founded
1992
Publicly Listed
No
Bank-backed
Yes
License Summary
| Regulator | Legal Entity | License |
|---|---|---|
| Unknown | Saxo Bank A/S | Authorized 1149 |
| FCA | Saxo Capital Markets (UK) Limited | Authorized 551422 |
| ASIC | Saxo Capital Markets (Australia) Pty Ltd | Authorized 280372 |
| Unknown | Saxo Bank (Switzerland) Ltd. | Authorized CHE-106.787.764 |
| MAS | Saxo Capital Markets Pte. Ltd. | Authorized — |
| SFC | Saxo Capital Markets HK Limited | Authorized AVD061 |
Saxo Bank Fees and Spreads
Compare brokersCosts at a glance
Saxo Bank's pricing model benefits volume traders. VIP account tiers access elite spreads (down to 0.4 pips on EUR/USD), while standard Classic accounts pay average spreads. Commissions apply on real stocks and futures, but FX and CFDs are largely spread-only.
EUR/USD typical spread
0.6 pips (Classic)
Crypto costs
Average
Commissions
Disclosed
Varies by instrument
Non-trading fees
Average
Real trading costs may vary depending on liquidity, volatility, and account structure.
Fee breakdown
| Fee type | Details |
|---|---|
| Trading | |
| Spreads | Forex spreads are tiered by account size (Classic, Platinum, VIP). Classic accounts see EUR/USD around 0.6 pips, while VIPs get near-interbank rates of 0.4 pips. |
| Commissions | Real US equities cost a minimum of $1.00 per trade. Listed options run as low as $0.75 per contract. Futures start at $1.00 per contract depending on volume. |
| Execution notes | Saxo operates as an electronic communication network (ECN) matching engine for equities, but acts as a highly liquid market maker for its FX and CFD flow derived from Tier 1 bank pools. |
| Non-trading | |
| Withdrawal fees | Bank transfers are free in the vast majority of regions. |
| Inactivity fee | While outright inactivity fees were recently abolished in many regions, a custody fee of 0.15% annually (min €5/month) applies if holding actual stocks/bonds unless opted into stock-lending. |
| Currency conversion | A highly transparent currency conversion fee of up to 0.25% applies to trades settling in a currency different from the account base. |
How we assess fees
Analyzed standard Classic account pricing data against professional ECN/STP competitors, taking into account volume-based discounts and custody charges.
Fees & Cost Assessment
Is this broker cheap, average, or expensive? Our editorial assessment normalizes costs across account types to give you a clear answer.
Cost Score
High ConfidenceEditorial Summary
Trading Cost Implications
Cost Snapshot
Editorial Explanation
Limitations
Non-Trading Cost Considerations
Cost Snapshot
Editorial Explanation
Limitations
Saxo Bank
Ready to get started?
Saxo Bank Platforms and Tools
Available Platforms
Platform Quality Assessment
Proprietary Web Trader
SaxoTraderGO is the web and mobile hub. It perfectly bridges the gap between deep market access and usability, featuring excellent charting and integrated account management.
Limitations
Can feel cluttered due to the sheer volume of tradeable assets.
Quality Snapshot
Platform 2
SaxoTraderPRO is a masterpiece of desktop trading software. It supports up to 6 screens natively, algorithmic orders, options chains, and Depth of Market (Level 2) data.
Limitations
Complete overkill for simple directional forex trading or novices.
Quality Snapshot
Markets & Instruments
40000+ instruments available across all markets
How to Deposit and Withdraw at Saxo Bank
Payment methods
No payment method data available.
Withdrawal processing
Actual processing times may vary by payment method and jurisdiction.
Customer support
Live Chat
AvailablePhone
AvailableCallback
Not availableAvailability & languages
Support hours
Local Business Hours (24/5 for FX)
Languages
English, Danish, French, German, Spanish, Japanese, Chinese, Arabic
Saxo Bank Account Types
| Account | Execution | Min Deposit | Spread from | Commission |
|---|---|---|---|---|
| Classic | Market | $0 | 0.6 | Standard |
| Platinum | Market | $250000 | 0.5 | Discounted by up to 30% |
| VIP | Market | $1000000 | 0.4 | Discounted by up to 50% |
Classic
Execution
Market
Min Deposit
$0
Spread from
0.6
Commission
Standard
Instruments: All 40,000+ instruments
Platinum
Execution
Market
Min Deposit
$250000
Spread from
0.5
Commission
Discounted by up to 30%
Instruments: All 40,000+ instruments
VIP
Execution
Market
Min Deposit
$1000000
Spread from
0.4
Commission
Discounted by up to 50%
Instruments: All 40,000+ instruments
Trading conditions may vary based on account selection and regulatory jurisdiction.
Education & Research
Education
Saxo relies more on its daily macro-economic podcasts and deep-dive strategy reports than hand-holding tutorials.
Limitations
Beginners may find the terminology and assumptions of existing knowledge intimidating.
Quality Snapshot
Research & Market Insights
The 'SaxoStrats' analyst team provides institutional-level morning notes, equity themes, and macro forecasts. It is comparable to research provided by Tier-1 bulge bracket investment banks.
Limitations
Some Level 2 order book data for real equities requires a paid monthly exchange subscription.
Quality Snapshot
Saxo Bank Review
Editor Rating Breakdown
Verdict
Excellent
Saxo Bank
Ready to get started?
Frequently Asked Questions
Risk Warning
CFDs are complex instruments. 74-89% of retail investor accounts lose money.