Editor's Score
  • Superior trading platforms
  • Various asset classes
  • Great research and education
  • High minimum deposit
  • High overall fees
  • No automated trading solution
Min Deposit
Max Leverage
Mini Account
  • SaxoTrader
Withdrawal Options
  • Credit and debit card
  • Bank transfer
  • Stock transfer



SaxoBank, founded in 1992, is a Danish investment bank excelling in online trading and investments. The broker’s services are highly appreciated by traders; as a result, it has won many well-considered awards such as Best Margin Sector Platform, Best Mobile Trading Initiative, or Best Multi-Asset Trading Platform.

SaxoBank is licensed by many financial regulators from all over the world. Some of the top-tier regulators include the Financial Conduct Authority (FCA), the Swiss Federal Banking Commission, and the Bank of France.

Trading Conditions

SaxoBank offers traders advanced trading platforms with order execution being almost instant. Slippage rarely occurs even when market strikes happen.

The maximum leverage offered by SaxoBank is 1:200, which is, considered quite low when compared to many brokers, although it should be noted that regulators now have a say about excessively high leverages. Also high leverage comes with higher risk so should be used with caution. Besides from this, there are no bonuses or promotions for the broker’s clients, outside of their Refer a Friend program.

SaxoBank offers traders 3 types of accounts to choose from, including Classic, Platinum, and VIP, with over 35,000 available trading instruments plus a 24/5 customer service line. Beginner traders with limited money can start with a Classic account, whose minimum deposit is US$2,000. Saxo VIP accounts require an initial funding of $1,000,000; in return, VIP clients can enjoy tighter spreads for FX options and support from the broker’s dedicated sales traders.


One of the factors attracting traders to SaxoBank is that they can have access to various trading vehicles. Below are the available asset classes:

  • Equities
  • ETFs
  • Forex
  • Bonds
  • Options
  • Futures
  • CFDs and Certificates
  • Cryptos

With SaxoBank, you can trade stocks and ETFs in 30 markets, including Hong Kong, Japanese, and Singapore markets. There are over 100 major and minor currency pairs, 29 stock indices, 8,800 shares and 5,000 bonds available for trading.


Below is the full list of SaxoBank’s regulators:

Legal name



License number

Saxo Bank A/S


Danish FSA


Saxo Capital Markets UK Limited


Financial Conduct Authority


Saxo Banque


Bank of France


Saxo Bank AG


Swiss Federal Banking Commission


Saxo Bank A/S Italy


Bank of Italy


Saxo Bank A/S Netherlands


Bank of the Netherlands


Saxo Bank A/S Czech Republic

Czech Republic

Czech National Bank


Saxo Bank A/S, DIFC Representative Office

United Arab Emirates

Central Bank of the UAE


Saxo Capital Markets Pte. Ltd.


Monetary Authority of Singapore. Co.


Saxo Bank FX K.K.


Japanese Financial Services Agency


Saxo Capital Markets Hong Kong Ltd.

Hong Kong

Securities and Futures Commission in Hong Kong


Saxo Capital Markets Pty. Ltd


Australian Securities and Investments Commission (ASIC)

126 373 859


Saxo Bank’s trading platform, SaxoTrader, ranks among the top trading platforms in the Forex industry. There is a wide range of tools and research capabilities integrated, making analysis and trading easily available at your fingertips.

As a Saxo Bank client, you can trade on both your PC and mobile devices. SaxoTrader can also run on browsers, with the interface running consistent to that of the desktop version.

SaxoTrader is suitable for both beginners and advanced traders with full functionality for trading. Those include:

  • Editable watchlist
  • Interactive chart
  • Fundamental analysis
  • News
  • Alert setup and list
  • Model portfolios to follow (SaxoSelect)
  • Positions, orders and portfolio overview
  • Over 50 indicators and 16 drawing tools

Mobile Trading

The Saxo Bank mobile trading platform, SaxoTraderGo, is compatible with both iOS and Android devices. Despite the fact that it’s not as professional as the desktop version - the fundamental data and Saxo Select aren’t included - SaxoTraderGo is still good enough for you to trade on the go.


Saxo Bank’s trading fees are fairly high compared to its peers’. Though Equity, Forex, and CFD trading fees are mid-range. The broker offers Forex traders a volume based pricing plan with the standard commission of 0.005% applied for the first US$50 million worth of trading each month. The more traders trade, the less commissions they pay.

Saxo Bank’s spreads are as low as 0.2 pips, which is competitive. However, there are reports from traders that the broker’s spreads strongly widen when high-impact news and economic data releases came in.

Deposits & Withdrawals

There are multiple options for you to fund your Saxo Bank trading account. Below is the list of available funding methods:

  1. 1. Credit/Debit card: With this method, money is instantly credited to your account.
  2. 2. Bank transfer: Deposits via Bank transfer often take 1 to 5 business days to be completed.
  3. 3. Stock transfer: For this method, the processing time will be longer because the request needs to be executed by your current portfolio holder.

Saxo Bank deposit fees are free of charge. However, please note that if the currency of your deposit is different from the currency of your Saxo Bank account, a conversion fee of 0.5% will be applied.

For cashing out, it can be processed to your bank or other broker accounts. Saxo Bank requires no minimum withdrawal, and also charges no fees on withdrawals.

Customer Support

The Saxo Bank customer service is available 24 hours on 5 business days in more than 20 languages. Below are the methods to reach out Saxo Bank specialists:

One of the broker’s shortcomings is that they don’t offer Live Chat support. In the exchange, they provide a fast email response with most emails being replied within a day.

Over the phone, the average connection time is about 2 minutes – a bit slow. However, their specialists are professional, dedicated, and accurate.

Research & Education

When it comes to research, Saxo Bank deserves a 9-out-of-10 rating. They provide traders with rich and in-depth research on both their website and platform.

As a Saxo Bank client, you can have access to in-depth analysis and recommendations conducted by financial experts. Furthermore, the broker also delivers detailed stock fundamental data.

In Saxo Bank’s education centre, you have many ways to learn about trading, including webinars, educational videos, e-books, and platform tutorial videos. The broker also offers demo accounts which are very helpful in practising trading.

Noteworthy Points

Saxo Bank is one of the few Forex brokers consecutively winning awards for providing traders with high-quality and user-friendly trading services. Some of their most well reputed awards include:

  • Four awards at the 2018 Finance Magnates London Summit, including Best Multi-Asset Trading Platform, Best B2B Liquidity Provider, Best White Label Solution, and Best Retail CFD Broker
  • Best Prime-of-Prime Provider at the 2018 FX Week e-FX Awards
  • Best Margin Sector Platform in Profit & Loss FoXy awards

Saxo Bank’s core values have been proven over the last 26 years. As a result, the broker attracts a huge number of new traders every year, without spending much money on marketing for exposure.


Saxo Bank is a great broker with well-developed services.

Saxo Bank best suits advanced traders and investors who need powerful trading tools. Its trading platforms rank among the best in the Forex world. Besides, it offers traders various asset classes, a rich educational centre, plus many great research tools.

Saxo Bank falls short with its high deposit requirements. With a minimum funding requirement of $2,000, the broker isn’t suitable for traders with a small wallet. Saxo Bank’s service fees are also high among its namesakes.

Overall, if you are looking for a solid broker and can afford a high minimum deposit, Saxo Bank is an ideal place.


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