SAXO Bank Review in 2025

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: November 5, 2025

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• Jump to:
• Regulations
• Trading Instruments
• Trading Platforms
• Payment Methods
• Account Types
• Support
• Conclusion
›

SAXO Bank is a Denmark-headquartered multi-asset broker and investment bank that has offered online trading services since 1992. Through its proprietary SaxoTrader platform suite, the group provides access to forex, CFDs on indices, commodities, bonds and cryptocurrencies, as well as cash equities, ETFs, listed options and futures. Retail leverage in the EU/UK is capped at 1:30, while professional clients can apply for higher tiers. Account tiers (Classic, Platinum, VIP) scale pricing and service but share the same platform set. The published minimum deposit for a Classic account at Saxo Capital Markets UK is £500; higher tiers require £200,000 (Platinum) and £1,000,000 (VIP).

Client money is held in segregated trust accounts, and ESMA-mandated negative balance protection applies to retail clients opened under EEA entities. Investor compensation coverage depends on entity: UK clients fall under the FSCS (up to £85,000); Danish-booked clients are covered by the Guarantee Fund for Depositors and Investors (up to €100,000 for cash; DKK100,000 for securities).

Regulations

Saxo Bank A/S (company no. 15731249) is incorporated in Denmark and authorised as a fully licensed bank by the Finanstilsynet (Danish FSA) under licence no. 1149 (first issued 1996). Registered office: Philip Heymans Allé 15, 2900 Hellerup, Denmark.
Saxo Capital Markets UK Ltd (company no. 07413871) is authorised and regulated by the Financial Conduct Authority (FCA firm reference 551422) since 5 July 2011. Registered office: 40 Bank Street, Canary Wharf, London E14 5EJ.
Other regional entities include Saxo Markets Singapore Pte Ltd (MAS CMS100131), Saxo Capital Markets Australia Pty Ltd (ASIC AFSL 280372) and Saxo Capital Markets Hong Kong Ltd (SFC CE# AVD061).

The broker states that it does not accept residents of the United States, Iran, North Korea, Syria and any jurisdiction sanctioned by the EU/UN. Geographic eligibility for each entity is listed during the onboarding process; no full public list is provided.

Client funds are segregated from the firm’s own assets in Tier-1 banks. Retail clients onboarded in the EEA benefit from statutory negative balance protection. UK clients have recourse to the Financial Ombudsman Service for complaints that cannot be resolved internally. Eligible UK retail clients are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000; Danish clients fall under the national Guarantee Fund limits noted above. Professional clients are not covered by either scheme.

Trading platforms

Platforms	PC / MAC	Smartphones	Tablets
Proprietary

Trading Information
Trading Platforms	TradingView, SaxoInvestor, SaxoTraderGO, SaxoTraderPRO
Demo Account
Hedging
Scalping
US Traders
Arabic Traders

Saxo offers only proprietary software but in three fully-featured variants: SaxoTraderGO (web/mobile), SaxoTraderPRO (downloadable desktop) and SaxoInvestor (simplified web/app for buy-and-hold). No MetaTrader, cTrader or third-party copy-trading tools are provided. All platforms stream real-time prices, support multi-asset portfolios and allow an integrated newsfeed, charting by TradingView, and option chain analytics. A FIX API and OpenAPI REST interface are available to qualifying clients; VPS hosting is not promoted.

SaxoTraderGO

SaxoTraderGO is the broker’s flagship HTML5 platform accessible through any modern browser and native iOS/Android apps. Traders can manage forex, CFDs, stocks, options, futures and bonds from a single watchlist and use 50+ technical indicators, 20 drawing tools and multiple chart types. Order tickets include market, limit, stop, stop-limit, trailing stop and “one-cancels-the-other”. Depth-of-Market (Level 2) is shown for listed products where exchange agreements permit, while FX displays up to 40 levels via aggregates.

The workspace is fully customisable with drag-and-drop modules and supports “Trade Signals” generated by AutoChartist. Integrated research from Dow Jones, NewsEdge and SaxoStrats is delivered in-platform, and positions opened in SaxoTraderGO synchronise instantly with SaxoTraderPRO.

SaxoTraderPRO

SaxoTraderPRO is a native Windows/macOS application aimed at high-volume or professional users. It supports up to six monitors, detachable modules and algorithmic order types such as Iceberg and Time-Weighted Average Price (TWAP) for equities and ETFs. FX orders can be executed via a dedicated blotter with one-click tickets, configurable price tolerance and batch trade management.

Advanced charting offers 60+ indicators, price alerts on indicators, and historic data back to 20 years for major FX pairs. The platform includes a margin monitor, options strategy builder and direct access to futures spreads. Connection to third-party analytics (Excel via OpenAPI) is possible, enabling custom dashboards or automated strategies.

SaxoInvestor

SaxoInvestor is designed for longer-term investors rather than active day traders. The interface strips out complex order types and multi-leg derivatives, focusing on cash equities, ETFs, mutual funds and selected bond issues. Curated theme baskets and analyst ratings are shown, and fractional shares are available on certain US stocks. While forex and leveraged CFDs are not tradable here, clients can move between SaxoInvestor and the other platforms with the same login.

Copy trading

Saxo does not operate a public copy-trading marketplace. However, the OpenAPI allows third-party strategy providers or family-office setups to trade master/slave configurations if both accounts are under the same legal entity and compliance approval is obtained. These arrangements are bespoke, incur additional costs and are unsuitable for most retail traders.

Payment methods

Saxo discloses two primary funding rails on its public pages: bank transfer (local and SWIFT) and debit/credit card. Local faster payments (UK FPS, EU SEPA) generally credit the trading account the same working day, while international wires take 1–3 business days once funds reach Saxo’s client account. Card deposits are reflected instantly. No e-wallets (PayPal, Skrill, Neteller) or cryptocurrency rails are advertised, and Saxo confirms that cheques and cash are not accepted.

The minimum initial funding displayed for a UK Classic account is £500. Saxo charges no deposit fees, but intermediary banks may deduct charges on international wires. Withdrawals are processed back to a verified bank account in the account holder’s name; cards cannot be used for withdrawals. The broker does not levy withdrawal fees, yet clients remain liable for banking charges.

Account base currencies include GBP, EUR, USD, CHF, AUD, HKD, JPY, SGD and more. Choosing a base currency that matches the funding source avoids conversion at Saxo’s standard FX markup (typically from 0.25%). Withdrawal requests made before 14:00 UK time are normally sent the same business day; funds usually arrive within 1–3 business days depending on the receiving bank and geography.

Instant internal transfers between sub-accounts (e.g., USD to EUR) are possible at prevailing FX conversion rates. All funding and withdrawal instructions must pass the broker’s KYC/AML checks; additional documentation may be requested for large or cross-border transfers.

• Deposit
• Withdrawal

Brand	Minimum	Fees	Processing Time
	£500	None	instant
	£500	None	instant
	£500	None	same day (local) / 1–3 business days (SWIFT)

Brand	Minimum	Fees	Processing Time
	Not disclosed	None	1–3 business days

Account types

Saxo provides three live tiers – Classic, Platinum and VIP – plus a free, renewable demo. All live tiers share the same product range and platform access; pricing improves with larger deposits or higher rolling account values. Commissions on listed products differ by market, while FX/CFD spreads are marked up from interbank levels. Islamic/swap-free accounts are not advertised.

Leverage for UK/EU retail clients follows ESMA limits (1:30 majors; 1:20 minors, gold and indices; 1:10 commodities; 1:5 shares; 1:2 crypto). Professional status, subject to eligibility, lifts caps to 1:100 on major FX pairs and removes negative balance protection.

Classic account

The Classic tier is the default retail offering with a published minimum deposit of £500 (or currency equivalent). Typical all-in spreads start from 0.8 pips on EURUSD; index CFDs such as US500 quote from 0.5 points during core market hours. Share CFD commissions in the UK are 0.10% with a £3 minimum, while cash equity trades cost the same. Financing on overnight FX positions is calculated at benchmark ±2.5%.

Classic clients receive standard online support and access to Saxo’s educational resources. No personal relationship manager is included, and margin call level is 100% of required margin.

Platinum account

Platinum unlocks tighter FX spreads (from 0.7 pips EURUSD), 30% lower equity/CFD commissions and free real-time Level 1 equity data on certain exchanges. The stated entry requirement is £200,000 in funding or equivalent trading volume over a 12-month period. Clients are assigned a relationship manager, and priority support is offered via phone and chat. Other trading conditions – such as leverage caps – mirror the Classic tier for retail categorisation.

VIP account

VIP targets high-net-worth or institutional clients depositing at least £1,000,000. FX spreads start from 0.6 pips (EURUSD) and equity/CFD commissions drop by up to 50% relative to Classic. Additional perks include direct access to the trading desk, bespoke pricing, invitations to SaxoStrats briefings and priority access to IPO allocations where available. Dedicated account managers provide custom margin solutions subject to risk assessment.

Demo accounts

The demo account provides a virtual balance of USD 100,000 (or local equivalent) and mirrors live spreads and commissions. It expires after 20 days but can be renewed an unlimited number of times from within the client portal. All three platforms (GO, PRO, Investor) are available in demo mode, allowing prospective clients to test order types, charting and portfolio reports. Market data is generally delayed by 15 minutes for exchanges that require paid licences.

Support

Saxo offers multi-channel support via live chat, email and telephone during local market hours (typically 08:00–22:00 UK time, Monday to Friday). VIP clients receive an emergency 24/5 dealing line, whereas Classic and Platinum clients rely on the main service desk. The broker’s website hosts a detailed Help Centre covering account funding, platform guides and corporate actions; most articles are available in 15 languages.

Chat is initially handled by a bot that surfaces FAQ articles; typing “agent” escalates to a human operator when available. Email responses are usually within one working day for UK clients, though complex product queries may be routed to product specialists. No dedicated community forum exists, but webinars and live market briefings are scheduled weekly.

Conclusion

Saxo Bank combines top-tier regulation, broad market access and sophisticated proprietary platforms. The downside is a relatively high entry barrier for improved pricing and a limited range of public funding methods. Traders seeking MetaTrader or social copy functions will need to look elsewhere, as will those preferring micro-lot accounts or Islamic terms.

Overall, Saxo suits experienced retail and professional clients who value deep multi-asset liquidity, institutional-grade analytics and the stability of a well-capitalised EU bank. Beginners may find the £500 minimum and tiered commission structure restrictive, but the renewable demo and extensive educational content offer a risk-free way to explore the ecosystem.