Saxo Bank Broker Review

Saxo Bank is a reputable investment bank that provides online trading and investment services to clients across the globe. With more than 70,000 financial instruments across various asset classes, Saxo offers a wide range of leveraged trading products, including Forex, Forex options, futures, options, crypto FX, CFDs, and commodities, as well as investment products such as stocks, ETFs, bonds, mutual funds, crypto ETPs, and managed portfolios.

Saxo stands out with its range of financial products, cutting-edge trading technologies, and competitive pricing, which makes it a convenient broker for traders and investors of all levels. However, Saxo is less suitable for low-volume traders, as such traders might encounter hurdles such as high minimum deposits, tiered pricing structures, and VIP benefits, which are more favorable to high-volume traders.

Overall, Saxo Bank offers a range of exceptional brokerage services, including sufficient liquidity, multiple professional-grade trading platforms (including proprietary and third-party options), competitive pricing, low forex trading fees, in-platform research tools, comprehensive educational resources, VIP benefits, reward points, and dedicated customer support service.

Suitable For – Low-cost trading, experienced traders, high-volume traders investors, and institutions.

Saxo Bank Broker Features

Saxo Bank Broker FeaturesSpecifications
Head OfficeSaxo Bank A/S (Headquarters) Philip Heymans Allé 15 2900 Hellerup, Denmark.
Global OfficesCopenhagen, London, Paris, Zurich, Dubai, Singapore, India, and Tokyo.
RegulationsFSA (Denmark), FCA (United Kingdom), JFSA (Japan), ASIC (Australia), FCA (United Kingdom), Bank of France, SFBC (Switzerland), CONSOB (Italy), MAS (Singapore), JFSA (Japan), and ASIC (Australia).
Trading Desk TypeECN, DMA (Direct Market Access)
Leveraged ProductsForex, Forex Options, Futures, Options, Crypto FX, CFDs, and Commodities.
Investment ProductsStocks, ETFs, Bonds, Mutual Funds, Crypto ETPs, and Managed Portfolios.
Instruments (Forex)190+ Forex pairs across majors, minors and exotics, crypto, plus spot metals, 40+ FX options, and 7 CFDs on currency pairs.
Account TypesClassic, Platinum, and VIP
Joint Account, Corporate Account, and Professional Account
Demo AccountAvailable | Open Demo Account
Lot SizesMicro, Mini, and Standard
Trading PlatformsSaxoTraderGO, SaxoTraderPRO, MetaTrader 4, and TradingView.
Trading ToolsSaxo APIs, Open API For Excel, Dynamic Trend, MultiCharts, and UpData.
Minimum Deposit$2000
Payment MethodsBank wire transfer, card payments, sub-account transfer, portfolio transfer (Broker to Broker)
Customer SupportTelephone, live chat and e-mail.

Pros of Saxo Bank

  • Saxo Bank is regulated by multiple top-tier financial regulatory authorities.
  • Over 3 decades of excellence in the online industry.
  • Over 810,000+ customers in over 180 countries worldwide.
  • Offers a broad suite of trading and investment products.
  • Offers managed portfolios (SaxoSelect).
  • A variety of professional-grade trading platforms, as well as access to industry-standard third-party trading platforms.
  • Superior trade execution.
  • Offers VIP benefits which come with the best prices, priority support, and exclusive event invitations.
  • Provides access to an extensive range of quality educational resources.
  • Competitive pricing, with access to some of the lowest fees in the industry.
  • Excellent research and analysis tools, including daily market commentary, trading signals,
  • Dedicated customer support service, with 24/5 support via phone, email, and live chat.

Cons Of Saxo Bank

  • Limited availability of some product offerings, depending on your location.
  • Limited availability of account funding options.
  • Its high minimum deposit requirements may be prohibitive for some traders.
  • The range of financial instruments available can be overwhelming for some traders who prefer a more simplified trading experience.
  • The demo account duration is limited to only 20 days.
  • Saxo’s complex pricing structure may be confusing for some traders.
  • Its VIP benefits, rewards, and pricing structure are more favorable to high-volume traders.
  • Some traders may find Saxo’s trading platforms to be less user-friendly than other brokers’ platforms.
  • An inactivity fee is charged per quarter if no trading activities are carried out on your account.


Saxo Bank is licensed and regulated globally, by top-tier regulatory bodies across the world, including;

  • FSA – The Danish Financial Supervisory Authority (Denmark),
  • FCA – Financial Conduct Authority (United Kingdom),
  • JFSA – Japan Financial Services Authority (Japan),
  • ASIC – Australian Securities and Investments Commission (Australia)

Accounts Types

Saxo Bank provides its clients with 3 different account types, designed to suit different trading needs. The three account types are designed in a hierarchical structure and the significant difference between each account type is the upgrade in trading conditions based on the trading volume of the client’s trading account.

The three account types offered by Saxo Bank include;

  • Classic Account,
  • Platinum Account
  • VIP Account.

Classic Account

The Classic Account is the first on the list and the lowest on the hierarchy. However, clients still stand to enjoy a variety of optimal trading conditions such as tight entry prices; in-class digital service and support; 24/5 technical and account support, and more. The minimum required deposit on this account type is $10,000, although it may vary in different countries.

Platinum Account

The platinum account comes second on the account hierarchy with a required minimum deposit of $200,000.

With the Platinum Account, traders stand to enjoy an upgraded service from the Classic Account such as; tighter spreads and commissions; up to 30% low prices; in-class digital service and support; 24/5 technical and account support; priority local-language customer support, and more.

VIP Account

This account type requires a minimum deposit of $1,000,000, as it is designed for clients with very large capital.

With the VIP Account, clients tend to get VIP treatments, as they are provided with the best prices and services as well as a bunch of other exclusive trading features such as; best-in-class digital service and support; 24/5 technical and account support; local-language personal relationship manager; a 24/5 direct access to the brokerages’ trading experts; 1:1 SaxoStrats access; exclusive event invitations and lots more.

Note – When you open an account, the broker places you in a tier, based on the initial amount you fund your account with over the first 30 days. After your first three months of trading, you will be automatically moved to the best tier that reflects your trading volume, with no additional funding required. 

Asset Classes

Saxo Bank offers 8 asset classes with over 40,000+ instruments available to trade from. The asset classes offered by the broker include; Forex, Stocks, mutual funds, ETFs, bonds, equities,
futures and commodities.

Saxo Bank Asset Class Details

Asset ClassesAssets
Forex200+ futures from 23 global exchanges, covering equity indices, energy, metals, agriculture, rates, and FX.
Stocks19,000+ stocks across core and emerging Bank, on over 30+ exchanges around the world.
Mutual Funds250 top-rated mutual funds from the world’s largest investors.
Exchange-Traded Funds3,000 exchange-traded funds (ETFs) from 30+ exchanges around the world.
Bonds5,000+ government and corporate bonds in Europe, the US, Asia, the Middle East and Latin America.
FuturesA wide range of commodities such as CFDs, futures, options, spot pairs, or exchange-traded commodities.
CommoditiesA wide range of commodities such as CFDs, futures, options, spot pairs or exchange-traded commodities.

Spreads and Commissions

Saxo Bank offers one of the best prices in the industry when it comes to spreads and commissions. The broker offers tight spreads and low commissions which apply to all account types they offer as well as across all asset classes and products available on their platform.

  • FX – Spreads as low as 0.4 pips.
  • FX Options – Spreads as low s 3 pips.
  • CFDs – Spreads as low as 0.4 pips.
  • Stocks – Commissions from $3 on US Stocks.
  • Commodities – Commission as low as $1.25 per lot.
  • ETFs – Commission as low as $3 on US-listed ETFs
  • Futures – Commission as low as $1.25 per lot.
  • Bonds – Commission as low as $0.05 on government bonds.
  • Listed Options – Commission as low as $1.25 per lot.
  • Mutual Funds – Commission, custody, and platform fee at $0

Note – These are the base prices offered by the broker, for more details on the brokers’ prices, visit their website here.

Trading Platforms

Saxo Bank provides clients with their award-winning proprietary trading platforms, SaxoTraderGO and SaxoTraderPRO, and access to advanced third-party trading platforms like MetaTrader 4 and MetaTrader 5 TradingView.


SaxoTraderGo Trading Platfroms
SaxoTraderGo Trading Platform

The SaxoTraderGO is a web-based trading platform, with an advanced but easy-to-use trading interface. The trading platform comes with a bunch of essential trading features and is available across multiple devices (PC and mobile).


SaxoTraderPro Trading Platform
SaxoTraderPro Trading Platform

SaxoTraderPRO is an advanced professional-grade trading platform, built for advanced traders. The trading platform is downloadable and comes with a fully customizable user interface as well as several professional trading tools and features.

Saxo Bank Trading Platform Details

Platform FeaturesSaxo Bank
PC PlatformYes
Mobile PlatformYes
Web Trading TerminalYes
Social TradingNo
Copy TradingNo
MetaTrader 4Yes
MetaTrader 5Yes

Customer Support

Saxo Bank provides traders with a dedicated customer support team, available 24 hours every business excluding weekends.

The support team can be reached via live chat, support tickets, and telephone calls. Also, depending on your account type, traders and investors can get access to a prioritized local-language customer support service.


Saxo Bank is no doubt a fantastic broker overall, although it is more suited for professional traders and investors with huge trading capital, because the broker offers a high minimum initial deposit of over $10,000, along with their professional-grade trading platforms.

Among other great trading benefits offered, Saxo Bank also offers quality educational materials, a good range of asset classes with over 40,000+ instruments to trade, industry-leading prices, and dedicated customer support teams.