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
Accounts and costs
What each account needs to open and what you pay to trade on it.
| 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 | €200,000 | Lower spreads and commissions than Classic | — |
| VIP | €1,000,000 | Lowest commission tier with preferential service | — |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Investor protection: Danish Guarantee Fund covers deposits up to EUR 100,000; client securities are held separately from the bank
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer, Card
- Minimum deposit
- None
- Not available in
- US
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
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: the group page, the largest pool.
Trustpilot regional pages: Nordics, Nederland, Belgium, UK and Switzerland.
TradingView: reviews from TradingView customers.
Forex Peace Army: older trader reviews and dispute threads.
Myfxbook: a few trader reviews.
Reddit search: investor threads in European and Singapore finance subreddits.
Verified reviews
Reviews from traders who've connected an account at Saxo to Chartnaut, so you know they actually traded there. Opening soon.