Saxo Bank
- Trust score
- 7/10
- Legal simplicity
- 1/10
- Min. deposit
- 10000
- Trading platforms
- Regulations
- Payment systems
Features
- Seminars and trader training
- Trust management services
- Wide selection of trading instruments
Pros
- Wide range of tradable instruments
- Strong regulatory compliance and security measures
- Extensive forex trading education resources
Cons
- High $10,000 minimum deposit may be out of reach for smaller traders
- No support for the widely-used MT4 platform
- Limited deposit and withdrawal options
- $100 inactivity fee after six months without account activity
- Only a small selection of withdrawal payment systems
Updated:
Saxo Bank is a Danish investment bank founded in 1992, now operating in 24 countries as one of Europe's oldest and most established investment-focused banks. It serves private traders, brokerage firms, banks, and institutional investors, giving them access to currencies, CFDs, options, futures, equities, bonds, and ETFs on global exchanges.
Saxo Bank is a Danish investment bank offering trader seminars and training, trust management services, and a wide range of tradable instruments.
Overview
Saxo Bank is a Danish investment bank founded in 1992. It now operates in 24 countries, making it one of Europe's oldest and most established investment-focused banks. Saxo Bank serves a broad client base, including private traders, brokerage firms, banks, and institutional investors.
Trading Offerings and Services
- Global exchange access: 182 currency pairs, over 9,000 CFD contracts, 75,200 option contracts, 200 futures, and 19,000 equities, plus precious metals, bonds, and ETFs.
- Minimum deposit: $10,000.
- Trading conditions: narrow spreads and instant execution, with no terminal freezes or re-quotes.
- Leverage and demo account: leverage up to 1:100 and a 20-day demo account funded with $100,000.
- Education: free training for beginners.
- Support: 24-hour customer support.
Regulation and Security
- Banking license: Danish FSA banking license held since 2001.
- EU compliance: adheres to the MiFID Directive as a Denmark-based, EU-regulated bank.
- Deposit protection: member of the Guarantee Fund, covering customer accounts up to €100,000 if the bank fails.
- Global licensing: holds additional licenses from central banks in the countries where it operates.
Account Types and Pricing
Saxo Bank offers three account tiers based on deposit size:
- Saxo Classic: independent trading and investing, $10,000 minimum deposit.
- Saxo Premium: for high-volume traders, $100,000 minimum deposit.
- Saxo Platinum: individualized trading conditions, $500,000 minimum deposit.
Forex trading is priced under two tariff plans:
- For Large Volumes: tight spreads with transparent, additional fees.
- All-Inclusive: commission-free pricing.
Trading Platforms
Saxo Bank runs on two platforms: SaxoTrader, a fixed desktop platform, and SaxoTraderGO, a mobile-friendly web platform.
Conclusion
Saxo Bank suits professional traders who trade large volumes and want regulatory reliability alongside a broad instrument range. Beginners or traders with limited capital may find the $10,000 minimum deposit a barrier and should compare other brokers before choosing Saxo Bank.
