Saxo Bank review

About the broker

In 2002, the Danish company Saxo Bank was established. This new company, after its creation, started to deal with online trading in securities, world indices, cfd shares, currencies, commodities and last but not least bonds. Currently, its offer of trading instruments is one of the widest on the market.

There is an opportunity for every trader to educate themselves through seminars and webinars provided by Saxo Bank, the broker provides a large amount of educational materials in English. Especially in the form of e-books or video materials, which will be appreciated by novice traders as much as advanced ones.

What SaxoBank offers It offers over 9000 CFD contracts, 182 currency and exotic pairs. You can trade over 19,000 stocks on 36 global exchanges. The offer is complemented by a range of Futures and Options contracts, making Saxo Bank a true market leader in online trading.

So if you're looking for a reason why choose Saxo Bank, it's the sheer number of instruments you can trade with Saxo Bank. For some, having your own platform where you can trade different investment instruments at the same time may also suit you.

Saxobank advantages and disadvantages SaxoBank holds a European banking licence and is regulated by the FCA in England. Client deposits are held in segregated accounts and insured against **broker default up to EUR 100,000.**

However, SaxoBank has relatively high fees and spreads, plus what may be a complicated trading platform for some. Saxo Bank also charges an inactivity fee of $100 for 6 calendar months. A list of current fees can be found on the broker's website.

Compare broker side by side

Basic information
Regulations
Number of instruments CFD	5
Broker type	ECN, STP
Customer support
Deposit from	2000 EUR/USD
Spreads	2 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change.
Real Stocks and ETFs
Platforms
Instruments CFD	Commodities, Share CFDs, Forex, ETF, Indicies
Established	1992
Location	Philip Heymans Alle 15 2900 Hellerup Denmark
Phone	+44 (0)207 151 2000
E-mail	LondonReception@saxobank.com
Country	Denmark, UK

About the broker

Compare broker side by side

Basic information
Regulations
Number of instruments CFD	5
Broker type	ECN, STP
Customer support
Deposit from	2000 EUR/USD
Spreads	2 EUR/USD * Spread is dated 02.01.2024 12:00, spread amount is subject to change.
Real Stocks and ETFs
Platforms
Instruments CFD	Commodities, Share CFDs, Forex, ETF, Indicies
Established	1992
Location	Philip Heymans Alle 15 2900 Hellerup Denmark
Phone	+44 (0)207 151 2000
E-mail	LondonReception@saxobank.com
Country	Denmark, UK

Pros

Fully licensed European company with a strong background

More suitable for sales professionals

Proprietary trading platforms

Competitive trading spreads

Really large number of trading instruments

Cons

Fewer deposit and withdrawal options

High minimum deposit from EUR 2,000

Fees + $100 inactivity fee after 180 days

Licences and regulation

Saxo Bank A/S - Danish FSA licence no. 1149
Saxo Capital Markets UK Limited - FCA (UK) registration number 551422
Saxo Capital Markets Pte. Ltd. Singapore - MAS (Singapore) Registration No. 200601141M
Saxo Bank - Representative Office (Dubai) - the Central Bank of the UAE registration number 2017/995/13
Saxo Bank FX Securities K.K. - athe FSA (Japan) registration number 239
Saxo Capital Markets Hong Kong Ltd. - SFC (Hong Kong) registration number 1395901
Saxo Capital Markets (Australia) Pty. Ltd. - ASIC (Australia) Registration No. 126 373 859

Trading platforms and account types at SaxoBank

To get started, you can set up a demo account, which is provided by the broker for a limited period of 20 days, on the other hand, you get it for free and can try trading with real market conditions through a virtual deposit of $100,000. Along with the demo account, you get the opportunity to trade a wide asset class at real prices and dedicated support if you are unsure about anything.

After you try out the platform or the time allotted for trading through the demo account expires, you can open your own real account. With SaxoBank, you can try out a demo account or go straight to a real account.

Demo account

limited to 20 days, held in euros, free for everyone, the opportunity to try FOREX trading and other financial instruments in real market conditions.

Real account

possibility to choose from two platforms (each offering different type of trading, different products), free of charge, payment for securities transactions. Broker offers three types of trading accounts: Classic, Premium and Platinum.

SAXO CLASSIC ACCOUNT

Minimum deposit: 2000 USD.

182 currency pairs (including silver and gold), 9,000 CFDs, 16 index CFDs, ETFs, stocks from 36 global exchanges, as well as FX options, futures contracts and other derivatives.

SAXO PREMIUM ACCOUNT

Minimum deposit: 100 000 USD

Full product portfolio: 182 currency pairs (including silver and gold), 9,000 CFDs, 22 index CFDs, ETFs, stocks from 36 global exchanges, as well as FX options, futures contracts and other derivatives.

Trading Platforms SaxoTrader - SaxoTraderGO

At Saxobank you can trade via the SaxoTrader platform and SaxoTraderGO (web browser and mobile app). SaxoTrader offers up-to-date market information and all the latest technical tools and features for successful trading.

The trading environment in this platform is fully personalized, including prices, market analysis, data modules and news, technical analysis and graphical features.