Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing & Regulation★ ★ ★ ★ (4/5)
Mobile Trading★ ★ ★ ★ ★ (5/5)
Brand & Functionality★ ★ ★ ★ ★ (5/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ ★ (5/5)
Product Offering★ ★ ★ ★ (4/5)
Trade Execution★ ★ ★ ★ ★ (5/5)
Banking★ ★ ★ ★ ★ (5/5)
Customer Support★ ★ ★ ★ (4/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
4.5 (90%) 2 vote[s]
Account Types
Account Currency
Customer Support
Min Funding
  • SAXO


★ ★ ★ ★ ★

Saxo Bank Group is a leading international provider of investment and electronic trading focussed on democratising the industry. Saxo entered the trading market in 1992 and is now one of the most respected and trusted in the trading industry. All services are offered in a professional, transparent environment, and the innovation speed at which Saxo creates trading opportunities is one of the main reasons why it is preferred by most online traders.

Saxo is a Danish bank specialising in investment and online trading started in 1992 as a brokerage firm under the name Midas Fonsmaglerselskab and rebranded in 2001 once a banking license was obtained by the company. Saxo offers trading on CFDs, Futures, Forex, funds, stocks, futures spreads and bonds, known for its success as both an investment bank and online trading service provider, Saxo’s headquarters are in Copenhagen, while it also has offices in Tokyo, India, Dubai, Singapore, Paris, London and Zurich. Saxo bank’s white label partnerships include banks such as Banco Carregosa, Old Mutual Health, Standard Bank and Banco Best.

The privately held company was founded by Lars Seier Christenson and Kim Fournais who remains the majority stake owners, while a minority of the take was bought by General Atlantic in 2005 when the CEO’s each received over $30 million. The minority stake was later acquired by TPG Capital and t valued at about 9.6 billion DKK with 25.71% of shares owned by TPG and 29.26% byTPB Capital.

Saxo launched its services and products in 2000 in Europe and in mid-2004 in the US. It announced its acquisition of Synthesis Bank in 2007, while the company also acquired Cambiste renaming it SaxoBanque France in the same year. In 2009 Saxo offices were open in Dubai, Prague and Milan. In March 2010 a new platform was added to enable trading on 11,000 stocks and 23 major worldwide exchanges.

SaxoOpenAPI and TraderGo multi-asset trading platform launched in 2015 to offer traders access to easy mobile trading via an HTML5 based platform. Due to its extremely flexible trading platforms, Saxo became a leading online trading platform and have earned well over 100 service excellence awards. The most recent awards received at the 2018 Finance Magnates Awards ceremony in London included Best Multi-Asset Trading Platform, Best Retail CFD Broker, Best B2B Liquidity Provider, and Best White Label Solution.

Licensing & Regulation

★ ★ ★ ★

With headquarters in Copenhagen, Saxo is fully regulated and authorised in several jurisdictions. The Saxo Bank Group manages more than $16 billion in client assets and employs more than 1,500 employees internationally. The company’s key offices are situated in Hong Kong, Switzerland, Singapore, the UK, Australia, and the UK.

Saxo Bank A/S is regulated and licensed under the regulatory control of Finanstilsynet). Saxo Capital Markets UK Limited is regulated by the Financial Conduct Authority. Saxo Capital Markets Pte Limited is regulated by the Monetary Authority of Singapore (MAS) as a capital markets services license holder. Additionally, Saxo Bank (Switzerland) Ltd. is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as a bank and securities dealer. Saxo Capital Markets (HK) Limited is licensed and regulated by Securities & Futures Commission of Hong Kong, and Saxo Capital Markets (Australia) Pty Ltd holds an Australian Financial Services License that is regulated by the ASIC.

Mobile Trading

★ ★ ★ ★ ★

Saxo’sTraderGo platform is accessible via any browser and apart from the web-based platform the company also supports a downloadable app optimised for mobile trading. This is available for Android and iOS smartphones, tablets and iPads. The SaxoTraderGO app offers PC, Tablet, smartphone and Mac users, access to more than 35,000 instruments across all classes of assets. As the number one platform worldwide, it offers fast trading that requires only a few clicks. The user-friendly app is perfect for new to experienced traders and offers quick navigation to the extended product range including futures, CFDs, stocks, and FX trading in multiple currencies. By using the SaxoTraderGooption, online traders gain access to seamless cross-device functionality offered via settings enabling automatic sync between tablets, desktops and other mobile devices.

Brand & Functionality

★ ★ ★ ★ ★

Saxo is renowned for facilitating the best online client experience. Electing to focus on client-centric innovation and providing self-directed traders with APS, it ensures easy portfolio management. Saxo is regulated and authorised by several global authorities including ASIC Australia, MAS Singapore, FCA UK, FSA Danish, in total 15 different authorities around the globe.

Currently, Saxo process well over one million daily transactions and handles around 15 billion USD, offering investment and trading services to more than 300 banks, financial service providers and brokers. Saxo has also formed relationships with several service providers such as exchanges, banks, interdealer brokers, MTFs, Sis, ECNs and market-making firms.

Registration Process

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To start trading with Saxo, online traders are required to register an account. Funding of the account can be carried out via bank transfer or debit card. The registration process requires personal details as well as supporting documentation proving the applicant’s address and identity. New traders are also offered the option of opening a joint bank and trading account.

Personal accounts registration also included selection form several currencies including AED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, IPT, ZAR, XPD, XMAG, XAU, PLN, SGD, THB, TRY, USD, RUB, SEK, RON, PLN, JPY, MXN, NOK, and NXD.

Depositing Process

★ ★ ★ ★ ★

Once registration is completed and verified via email, account funding is possible via debit card, credit card or bank transfer. By selecting debit/credit card, the new account holder needs to supply their card number, the name of the card, security code and expiry date. Bank transfers are also accepted form a Danish bank in Danish kroner DKK. Debit or credit card funding is allowed in one of the following currencies, AED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, IPT, ZAR, XPD, XMAG, XAU, PLN, SGD, THB, TRY, USD, RUB, SEK, RON, PLN, JPY, MXN, NOK, and NXD, selected during the registration process.

Product Offering

★ ★ ★ ★

A single Saxo account offers access to 8 asset classes and 35,000 instruments. These include 140 forwards and 182 FX spot pairs, including EUR USX, GOLD USD, EUR JPY, GBP USD. Over 9,000 CFDs in FX, bonds, commodities, stocks and indices as well as 19,000 stocks on 36 international exchanges, including NYSE, NASDAQ, XETRA, IOB and Milan Stock Exchange. Trading also includes 3,101 ETCs, ETFs and ETNs. Trading is also available on 6 FX touch and 40 FX vanilla options via calls. Futures trade is offered on over 200 options across 23 international exchanges and bonds trading is available across 21 currencies and 5,000 bonds from more than 26 different countries.

Trade Execution

★ ★ ★ ★ ★

Saxo is known for its liquidity sourced from more than 85 venues including ECNs and multiple banks. Its order execution is best-in-class and supported by down-flow execution integrated via local memberships. All trading client’s subscription to real-time data is managed as well as client-elect subscription monthly fees. Multi-asset execution offers clients the option to trade bonds, stocks, futures, FX from one margin account monitored in real-time.

Trading platforms include the fully customisable SaxoTraderPRO, a perfect solution for professional clients that allows work across six screens. The trading program can be downloaded for Mac and Windows and offers traders advanced features they’d expect from such a platform. This includes viewing of the exchange order book, real-time execution reports and fast access to quick-close all. With innovative risk management tools made available to traders, Saxo ensures that clients account value are safeguarded. It also ensures they have access to estimated margins from condition changes and pending trading in real-time.

SaxoTraderGo offers retail traders a simple multi-asset platform offering a flawless experience across multiple devices to ensure instant access to more than 35,000 trading instruments. Furthering this, it includes a preference setting to allow automatic syncing between multiple devices. Portfolio management made easy includes visualising returns, performances and clients P/L. SaxoTradeGo also offers access to analysis, expert news usable to the development of client’s trades.


★ ★ ★ ★ ★

Credit cards and debit card payments are subject to fees charged via the card operators such as MasterCard and Visa, which starts from around 0.50% up to 2.84%, the percentage-based charge depends on the transaction currency. Saxo does not offer any withdrawal of funds directly to bank cards. Withdrawals can be arranged directly to bank accounts by arranging it with personal relationship managers.

Customer Support

★ ★ ★ ★

Trader support is made available to all Saxo account holders via personal relationship managers ready to answer all account and trading questions or to take care of any queries. The dedicated trader’s sales option offers post-trade and risk management support from senior sales traders that include live market commentary. Commentary and news on all asset classes are made available via a global team of analysts, while self-service support is available from the helpdesk contactable via email. 24/7 customer service support is offered via a team of experts available on call to answer all account and technical question form offices in 16 different countries. With support from several offices, traders can expect help in their own language.

Trading Tools

★ ★ ★ ★ ★

Saxo offers online trading access to state-of-the-art trading platforms, offering excellent retail forex trading via SaxoTraderGo on multiple devices, and advanced trading via SaxoTraderPRO. Both options offer high-quality analytics.