# Saxo

Danish bank and multi-asset broker with 70,000+ instruments on its own SaxoTrader platform

Source page: https://trust.chartnaut.com/brokers/saxo  
Website: https://www.home.saxo  
Type: CFD & forex, Stocks & ETFs, Options, Futures  
Founded: 1992  
Based in: Copenhagen, Denmark  
Minimum deposit: None  
Markets: Forex, Indices, Commodities, Stocks, ETFs, Options, Futures, Bonds  
Platforms: TradingView, Own platform / app  
Deposits and withdrawals: Bank transfer, Card

## Overview

Saxo is a Danish bank and one of the broadest multi-asset brokers around. It suits investors and active traders who want real stocks, bonds and funds next to options, futures, forex and CFDs, all in one account. The parent, Saxo Bank A/S, holds a Danish banking licence, and there are regulated arms in the UK (FCA), Switzerland (FINMA), Italy (CONSOB), Singapore (MAS), Australia (ASIC), Hong Kong (SFC) and Japan. Cash deposits are covered by the Danish Guarantee Fund up to EUR 100,000. It doesn't take US clients.

### Accounts and costs

Everyone starts on **Classic**, which has no minimum deposit. Forex is commission-free with EUR/USD around 1 pip, US stocks cost 0.08% with a $1 minimum, options are $2 a contract and futures $3. Deposit EUR 200,000 or trade enough and you move to **Platinum**, and at EUR 1,000,000 you reach **VIP**, each with lower prices. Watch for a custody fee of around 0.15% a year on stocks, ETFs and bonds, a currency conversion markup and a small ticket fee on forex trades under EUR 50,000. UK clients can also open an ISA or SIPP.

### Platforms and markets

Saxo runs its own platforms: SaxoInvestor for simple investing and SaxoTrader for margin trading and the full product list. You can also connect TradingView or MultiCharts, or build on OpenAPI and FIX API. There's no MT4 or MT5. The range is over 70,000 instruments across stocks, ETFs, bonds, mutual funds, listed options, futures, forex and thousands of CFDs. A 20-day demo is available.

### Money in and out

Saxo doesn't charge for bank transfer deposits or withdrawals, though other banks along the route might. Withdrawals usually take one to two business days to process and go only to accounts in your own name.

## Good

- Licensed bank in Denmark and Switzerland with regulated entities in the UK, Singapore, Australia, Hong Kong and Japan
- Huge range: stocks, ETFs, bonds, funds, options, futures, forex and CFDs from one account
- No minimum deposit on the Classic tier
- SaxoTrader and SaxoInvestor platforms plus TradingView, OpenAPI and FIX API
- ISA and SIPP accounts for UK clients

## Watch for

- No MetaTrader or cTrader
- Custody fee on stock, ETF and bond holdings
- Fixed ticket fee on small forex trades
- Best pricing needs EUR 200,000 or more
- Not available to US residents

## Regulation

- Other (Danish banking licence): Saxo Bank A/S
- FCA: Saxo Capital Markets UK Limited, licence 551422
- FINMA: Saxo Bank (Switzerland) Ltd.
- CONSOB: entity not stated, licence 296
- MAS: Saxo Capital Markets Pte. Ltd., licence CMS100131
- ASIC: Saxo Capital Markets Australia Pty Ltd, licence AFSL 280372
- SFC: Saxo Capital Markets Hong Kong Ltd, licence CE AVD061
- JFSA: Saxo Bank Securities Ltd.

Investor protection: Danish Guarantee Fund covers deposits up to EUR 100,000; client securities are held separately from the bank

- API trading: yes
- Demo account: yes
- Tax-advantaged accounts: yes

## Accounts and costs

| Account | Min deposit | Pricing | Max leverage |
| --- | --- | --- | --- |
| Classic | None | EUR/USD from about 1.0 pip with no FX commission; US stocks 0.08% (min $1); options $2 and futures $3 per contract | — |
| Platinum | EUR 200,000 | Lower spreads and commissions than Classic | — |
| VIP | EUR 1,000,000 | Lowest commission tier with preferential service | — |

Not available in: US

## What traders say

Checked 2026-10-06.

- Trustpilot: 3.6 / 5 from 8,867 reviews (https://www.trustpilot.com/review/home.saxo)
- Trustpilot (Saxo Nordics): 4 / 5 from 2,053 reviews (https://www.trustpilot.com/review/home.saxo/location/saxo-nordics)
- Trustpilot (Saxo Nederland): no score from 1,122 reviews (https://www.trustpilot.com/review/home.saxo/location/saxo-nederland)
- Trustpilot (Saxo Belgium): 4 / 5 from 724 reviews (https://www.trustpilot.com/review/home.saxo/location/saxo-belgium)
- Trustpilot (Saxo UK): 4 / 5 from 495 reviews (https://uk.trustpilot.com/review/home.saxo/location/saxo-uk)
- Trustpilot (Saxo Switzerland): 4 / 5 from 317 reviews (https://www.trustpilot.com/review/home.saxo/location/saxo-switzerland)
- TradingView: 3.5 / 5 from 1,698 reviews (https://www.tradingview.com/broker/Saxo/reviews/)
- Forex Peace Army: no score (https://www.forexpeacearmy.com/forex-reviews/149/saxo-bank-review)
- Myfxbook: no score (https://www.myfxbook.com/reviews/brokers/saxo-group/139,1)
- Reddit: no score (https://www.reddit.com/search/?q=saxo+bank)

Saxo's reviews are middling overall and better in its home markets. The group Trustpilot page sits at 3.6 from about 8,900 reviews, while the regional pages for the Nordics, Belgium, the UK and Switzerland each show 4 stars. On TradingView it is rated 3.5 from about 1,700 ratings, according to Compare Forex Brokers in September 2026. Forex Peace Army and Myfxbook have long-running pages without a score in our evidence. Reviewers like the product range and platform; the complaints are mostly about fees, compliance holds and support.

### What traders like

- **Breadth of products.** Many reviewers, especially in the Nordics and on Reddit, value access to stocks, ETFs, bonds, options, futures and forex in one account.
- **The platform.** SaxoTraderGO and SaxoTraderPRO get frequent praise for their design, and some Reddit users prefer them to Interactive Brokers.
- **Safety.** European investors on Reddit often mention that Saxo is a regulated bank, designated systemically important in Denmark.
- **Lower fees since the 2024 cuts**, noted by Belgian and Swiss investors who came back.
- **Friendly support** that some Trustpilot reviewers credit by name.

### Common complaints

- **Fees.** Many low Trustpilot reviews mention hidden or high charges, transfer-out fees and currency conversion costs.
- **Compliance holds.** Several reviewers on Reddit, Trustpilot and Globegain's roundup describe accounts blocked for due diligence, tight document deadlines and withdrawals held until extra checks were done.
- **Withdrawal route rules.** Some Forex Peace Army posters say withdrawals failed because funds must go back to the deposit source, which caused trouble for those who funded through Wise or other services.
- **Slow or uneven support**, and positions closed without notice, come up in older Reddit and Forex Peace Army threads.

### Recently

- **July to September 2026:** Trustpilot's own summary flags payment and hidden-charge complaints; Saxo Nederland reviewers note it no longer serves Canadian clients; Globegain's August roundup puts compliance restrictions among the most serious complaints.

### Where this comes from

- [Trustpilot](https://www.trustpilot.com/review/home.saxo): the group page, the largest pool.
- [Trustpilot regional pages](https://www.trustpilot.com/review/home.saxo/location/saxo-nordics): Nordics, Nederland, Belgium, UK and Switzerland.
- [TradingView](https://www.tradingview.com/broker/Saxo/reviews/): reviews from TradingView customers.
- [Forex Peace Army](https://www.forexpeacearmy.com/forex-reviews/149/saxo-bank-review): older trader reviews and dispute threads.
- [Myfxbook](https://www.myfxbook.com/reviews/brokers/saxo-group/139,1): a few trader reviews.
- [Reddit search](https://www.reddit.com/search/?q=saxo+bank): investor threads in European and Singapore finance subreddits.

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Information gathered from public sources (company websites, regulator registers, third-party review sites). Ratings are quoted from those sources and are not the opinion of Chartnaut.com. Not financial advice. Trading carries a high risk of loss. Questions or corrections: help@chartnaut.com. Methodology: https://trust.chartnaut.com/methodology