Broker Saxo Bank
Website URL
Founded 1992
Headquarters Philip Heymans Alle 15 2900 Hellerup, Denmark
Support Number +45 3977 4000
Support Types Email, ChatBot, Phone
Languages 22 languages supported
Trading Platform SaxoTraderGO, SaxoTraderPRO, mobile apps
Minimum 1st Deposit $600
Minimum Account Size $0
Maximum Trade Amount different for each instrument
Bonus No bonus
Leverage up to 1:200
Spread fixed/floating
Free Demo Account yes
Regulated Licensed by the UK’s FCA (Firm reference number 551422), the Danish FSA, Japanese FSA and other global regulators
Account Types SAXO account, corporate account, professional account
Deposit Methods bank transfer, credit/debit card
Withdrawal Methods bank transfer, credit/debit card
Number of Assets 40,000+
Types of Assets forex, stocks, ETFs, bonds, mutual funds, options, CFDs
US Traders Allowed no
Mobile Trading yes
Tablet Trading yes


Saxo Bank is a leader when it comes to the broker space, giving traders and investors access to over 35,000 different financial instruments from various asset classes. It has its roots as a Danish Investment bank that was started in 1992. Saxo Bank has been on the online broker scene since 1998 when it launched as one of the very first online brokerages. Since then, it has developed into an impressive platform with professional tools and great market access.

SAXO Bank Logo

It is under the regulation of the UK Financial Conduct Authority (FCA) and the Danish Financial Services Agency (FSA). It is a well-respected broker that has top-quality oversight. This Saxo Bank review looks at the ins and outs of this offering, showcasing what exactly it can offer you as a trader.


  • Massive selection of financial instruments
  • Quality trading platforms
  • Competitive fee structure
  • Strong reputation


  • Only one withdrawal option


There is a massive range of different tradable financial instruments across different asset classes with Saxo Bank. There is leverage trading available for forex, CFDs, futures, commodities, forex options and listed options. You can trade 182 different forex pairs, ranging from major pairs to minor and exotic options, as well as spot metals.

SAXO Bank Products

There are more than 9,000 different CFD options to check out if this is the type of product you are looking for. You can access more than 200 futures across 23 worldwide exchanges. There is also a wide range of different commodities, futures, options, spot pairs and exchange traded commodities.

For investors, there are also standard stocks, bonds, ETFs, managed portfolios, and mutual funds that you can invest in. These investment products are also wide-ranging, with access open to markets all across the globe. Overall, this is one of the most impressive ranges of investment and trading offerings that you will find in the space today.

Fees and Charges

As well as the great range of tradable financial instruments, Saxo Bank also aims to have competitive commissions and spreads across the board. For more frequent traders, these fees will drop even lower. Spreads for forex trading start at 0.4 pips, with US stock and ETF commissions starting at $3 while there is no commission charged on mutual funds. While the fees for US stocks and ETFs is about average, most of the other fees are very competitive, particularly for mutual funds and forex trading.

If you utilize the Saxo Bank robo-advisory service, you will be charged a total fee for the service. This will usually range from 0.75% to 0.95% of your total investment. This will depend on your chosen strategy and your location.

There is an inactivity fee that kicks in quite quickly. If your Saxo Bank account is inactive for more than one quarter, a £25 inactivity fee will be charged for UK accounts. For non-UK accounts, there will be a $100 inactivity fee implemented after a period of six months. You also have to deal with a custody fee if you are trading bonds, ETFs or stocks. This is a minimum of £5 monthly or an annual charge of 0.12% on your open positions. There are also currency conversion fees to be considered if dealing with different currencies.

Trading Platforms

The main trading platform on Saxo Bank is a proprietary one. It is called Saxo Bank GO and it has won a number of awards over the years. It has many great features, such as wide-ranging technical and fundamental analysis tools, advanced charting options and comprehensive performance analysis. You have access to a full range of trading instruments and the interface is very easy to use. This is suitable for most types of traders and can be used through a web browser.

SAXO Bank Platform

There is the Saxo Bank PRO option that is a professional-grade trading platform. It allows for the likes of algorithmic orders, options chains and one-click trading. It is a good fit for more active, advanced or professional traders. This is a platform that you download to your desktop.

There is also a mobile app for Saxo Bank traders, available on both iOS and Android devices. The mobile app is not as smooth or easy to use as the desktop platform. However, it can still get the job done if you are trying to place trades on the go.

Security and Reliability

Saxo Bank takes the security of its users very seriously. For its trading accounts, there are numerous advanced security tools you can do to enhance your account security. For example, you can enact biometric authentication for your mobile account and two-step authentication for your desktop account logins.

There is also negative balance protection in case you are taking part in CFD or forex spot trading. However, this only applies to retail clients in EU nations. The latest in encryption technology is used to ensure that the data of clients is well-protected.

Saxo Bank is regulated by the FCA and FSA, two well-respected global authorities. This gives clients the peace of mind that Saxo Bank is compliant and being monitored at all times. There are also protections on client funds depending on what country you are residing in. For example, UK account holders will have funds of up to £85,000 protected.

Customer Support

The Saxo Bank website is very well-laid out and most of the information you could need is easily found. However, you can get in touch with the customer support team directly if you need to. The main options will be to send the support team an email or to ring them over the phone. There is also a support center where you can check out the FAQ section or search for a question through one of the live chat bots.

There are many different languages catered for with the support offering, which is ideal. There is no 24/7 support. However, as there are Saxo Bank offices across the world, you can contact your local one between 9 AM and 5:30 PM local time from Monday to Friday. The response times are good, with the quality of responses also being delightful.

Deposits and Withdrawals

There are three main ways for you to add funds to your Saxo Bank account. You can use a credit card or debit card. There are certain restrictions in place depending on what card provider you are using or what region you are in. You can also use a bank transfer in a quick and seamless manner. Finally, you can conduct securities transfers if you want to transfer your portfolio of stocks from a different platform over to your Saxo Bank account.

There are nineteen different base currencies you can use and the deposit process is usually pretty quick. The only way you can make a withdrawal is through a bank transfer, with this method usually processing your payment within a day or two. There are no fees charged by Saxo Bank for making a deposit or withdrawal. However, the third-party payment processor you are using may levy its own fees.


Overall, Saxo Bank is a great fit for all types of traders. It has one of the most impressive selections of investments that you could find, with all of the major asset classes being on offer. There are also great trading platforms to use and Saxo Bank has a great reputation in the online broker space. You certainly won’t go wrong by using Saxo Bank as your online broker.