Saxo Markets Review

saxo bank logo

Saxo Markets, founded in 1992, is a Danish-based trusted investment bank. It offers a well-designed and extensive online trading platform that is user-friendly.
Saxo market offers international trade on 36 different exchanges and available investments include stocks, ETFs, forex, CFDs, and bonds. Saxo market is ideal for serious, active investors in search of an easy-to-use, international stock trading platform.


Saxo market is a safe and trusted online broker regulated by top tier regulators. They have outstanding research and market-related information which is updated daily by a highly qualified research team. It is best suited for serious, active traders and investors and features zero withdrawal fees.

  • Regulated by the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA)
  • Extensive trading platform suited for on-the-go traders which include both a mobile and web-based app with online synchronization with the main trading platform. This provides for instant price alerts.
  • International stock exchange ideal for investors seeking international trade.

Pros and Cons

Saxo market offers a seamless online trading platform that is available on mobile, desktop, and web-based media. They offer an array of products to suit the needs of investors wishing to expand their portfolio.

A demo account is also available for those wishing to try out the service before committing. Saxo offers trading in 36 global markets and does not charge a withdrawal fee.

The drawback to this online broker is its high minimum deposit fees which ranges from $600 – $ 10,000 depending on the region and membership group.

Opening an account is a lengthy process that takes a minimum of 3 days, and electronic wallets are not available for deposit or withdrawal services.

Saxo does not offer 24/7 customer support.

Extensive online trading platformHigh minimum deposit fees
Broad product servicesLengthy account verification process
Demo accountElectronic wallets not available for deposit or withdrawal
Trading available in 36 global marketsLack of 24/7 customer service
Zero withdrawal fees


Saxo is regulated in Denmark, UK, Switzerland, France, South Africa, Japan, Singapore, and Australia.

Trading Platform

The most attractive feature Saxo offers is its vast trading platform which consists of a user-friendly interface that can suit both novice and professional traders. The platforms are customizable to individual needs. Saxo offers a web trading platform, a desktop platform, and a mobile app, allowing for on the go trading. Saxo Markets made it to our list of the best online brokers in Singapore and best online brokers Australia.

saxo bank trading platform layout
Platforms Available:iOS, Android, Web, Desktop (Windows)
Order Types:Limit orders, Stop orders, and Market orders
Watch Lists:Yes
News Ticker:Yes
Search function:Yes
Copy Trading:Yes
Demo Account:Yes

The mobile app is available on both iPhone and Android.

The platforms have a two-part log-in system for added security although this feature is optional.

The simple yet effective search function groups allow for easy filtering and groups’ searches according to asset class. This makes the process of stock trade less daunting, particularly for novice investors. The platform is designed with efficiency in mind and has a sleek, modern feel.

Should these platforms not suit your needs, Saxo provides third-party platforms such as MultiCharts, MetaTrader4, and Updata.

The downside to Saxo’s multifaceted platform is the cost. In order to receive real-time market data, investors are charged a fee, although this may vary depending on the exchange. The base exchange streaming costs are £6 per month ($7.9).

Mobile App

The SaxoTraderGo is the mobile equivalent of the web-based trading platform. The mobile app is both user-friendly and sports the same sleek design as the web-based platform. It has many of the same features present in both the desktop and web-based platform such as global market access which allows for international trade. It also allows traders to place and manage orders across all asset classes. If you are an active trader make sure you check out the top rated app for day traders.

SaxoTraderGo is available for both Android and iPhone and can be used in conjunction with the desktop-based platform. It is also free to download on Google Play and the Apple iStore although an account is needed to access the app.

It features integrated, live charts that allow for direct trade and utilizes over 40 technical indicators and drawing tools.

The mobile app also offers watchlists and price alerts which work together to allow traders to keep track of stocks, indexes, and futures.

The news and market analysis function allows for real-time updates affecting markets.

For added safety, the mobile app has a two-step log-in process and an added finger-print login feature.

Novice traders are also able to test the app through the 20-day risk-free demo.

A drawback of the mobile app is that it lacks some of the research data of the desktop and web-based platforms such as broker forecasts. The mobile app also has a few stability issues that could cause the app to crash, although this is dependent on the user’s device.

Languages Available

Languages supported by the platform are:

Arabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Japanese, Latvian, Lithuanian, Norwegian, Polish, Portuguese, Portuguese-Brazil, Romanian, Russian, Slovakian, Slovenian, Spanish, Swedish, Turkish

Customer support is only available in English.

Products and Markets Available

Saxo Bank’s trading platform provides an extensive product portfolio that covers a wide range of stock markets which covers all asset classes.

The trading platforms provide for Stock, ETF, Forex, Found, Bond, Options, Futures, CFD’s, and Crypto. There are broad product selections within complex assets such as Options, Futures, or FX swaps.

Saxo bank also covers 36 stock markets and 3,100 ETF’s, including global markets such as the US stock exchange and Deutsche Börse which allows for international investment and trade.

A downside to Saxo Bank’s broad trading platform is that it lags behind its competitors on mutual fund and crypto product line-ups.


Saxo’s vast trading platform provides an amazing research base with well-developed tools, detailed fundamental data. This, along with their user-friendly interface makes for an attractive and pleasant research experience. These tools are suitable for both technical and fundamental analysts and traders.

The trading platforms provide both current and historical data on stock markets and include information such as financial statements, peer group comparisons, valuation, ownership, and structure. A key feature is their interactive charting.

It includes a real-time news feed and an economic calendar.

An additional tool is the quarterly outlooks which offers in-depth analysis of prospective movements within the market. These general predictions are based on real-world events such as elections or a global pandemic.

Most of the fundamental data requires a subscription to the service, which is charged at an additional fee. Users are also unable to filter news feeds by assets.


Saxo bank offers an array of educational services, which are particularly suited to novice traders and investors. Their free demo service is an easy way for users to familiarize themselves with not only the platform but also experiment with trade and investments. The trading platforms offer video tutorials and general, quality educational videos.

Saxo also hosts educational webinars which are held by their experts. While Saxo lacks educational articles, they more than make up for this with the ‘Saxo Academy’ which offers a vast selection of online educational videos. There are also various educational videos available on streaming platforms such as Youtube which could offer additional insight.

Fees And Commissions

At Saxo Bank, fees and commissions are dependent on both asset class and account type, with discounts and lower rates, offered to higher ranking membership types. There are various trading options available to traders and investors. It should be The fees at Saxo Bank are higher than the average trading platform. 


Commissions are charged at $0.01 per share, a minimum of $1 is required. Commissions are best suited toward competitive and active traders who trade with small volumes.

Trading Fees

Per Trade is fixed at $5 per trade and is suited to traders who trade at a high volume.

Unbundled Pricing is priced the same as Per Trade, this fee decreases after more than 100,000 trades per month. This is recommended for active, high volume traders.

Custody Fee

Custody of 0.12% is charged on accounts holding open stock, bond positions, and ETF. The minimum monthly payment is $12,11.

Withdrawal Fees

Saxo Bank does not charge a withdrawal fee but does charge an inactivity fee of £25 if the account is inactive for three months.

Minimum Deposits

Minimum deposits are dependent on the account type with the minimum being £500 (Classic account) and range up to £100,000,000 (VIP account).

Market Data Subscription

Saxo Bank charges a Market Data Subscription fee in order to receive real-time market data via their trading platform. These fees are dependent on the streaming quotes of the exchange and could cost around £6 or £7 per month ($7 to $9).

Account Opening

Opening a Saxo trading account is easy and completely digital. Their trading platform is available in almost every country. Account verification is slow and takes a minimum of 3 business days.

Saxo Bank offers three account types; the Classic account, Platinum account, and VIP account. The more premium accounts come with added benefits such as discounts and lower fees.

Classic Account

The minimum deposit for the classic account is £500.

  • Digital service and support
  • 24/5 technical and account support.

Platinum Account

The minimum deposit for the platinum account is £50,000.

  • Digital service and support
  • 24/5 technical and account support,
  • Up to 30% fee reduction
  • Local-language customer support

VIP Account

The minimum deposit for the VIP account is £1,000,000.

  • Digital service and support
  • 24/5 technical and account support
  • A personal relationship manager
  • Direct access to trading experts
  • 1:1 SaxoStrats access
  • Invitations to exclusive events
  • Access to a high-class VIP network

No matter the account, Saxo Bank does not charge any withdrawal fees.

In order to open a Saxo trading account:

  1. Visit the official website and click the sign-up button (
  2. Choose your account type (Classic, Platinum, or VIP)
  3. Complete a questionnaire (requires basic information and a few security questions to ensure you are able to trade)
  4. Upload proof of Identity and proof of residence to the platform. In our experience, we were required to mail these documents, which is an added cost
  5. Review your information and read the terms and conditions
  6. Sign the virtual contract
  7. Once your account has been verified, you are required to pay the minimum deposit amount dependent on the account type chosen
  8. Start trading! You are officially an INVESTOR!

Customer Support

Saxo Bank provides customer support through Tradestation and offers phone support, live chats, and email support. Tradestation’s phone support is reliable and they respond quickly and provide relevant answers.

Their live chat function does require some waiting time but they are helpful.

It does take 1 – 2 business days to receive a reply through their email support and this platform was not as effective as the phone support and live chats.

Customer service is also available via the review section in both Google Play and the iStore.

A drawback of the customer service is that it is not available 24/7 and support is only available during weekdays. Saxo Bank’s customer support has been a weak point in our experience given the waiting times and lack of accessibility.


Saxo Bank is a safe trading option and is regulated by accredited tier-1 jurisdictions. Saxo Bank offers an array of products and covers all asset classes. They have a broad trading platform which encompases a mobile app, and web and desktop-based platforms.

Saxo’s trading platform is extensive and includes financial instruments such as Stocks, Bonds, CFDs. They provide access to an easy to use global market and are suited to both novice and professional traders. They are also available in numerous countries.

Their steep price points and weak customer service support are not up to par with their competitors. If you are willing and able to invest a chunk of money into this trading platform, it could be a great financial asset to add to your arsenal.

About the author

Ziga Breznik is the owner and head of research at – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.