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Saxo Bank Review 2024

Ben Johnson
Forex Broker Expert

Saxo Bank

5 / 5 – 5 Ratings

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Saxo Bank is a Danish investment bank and online brokerage that offers a wide range of financial services and products to both retail and institutional clients. Founded in 1992 and headquartered in Copenhagen, Denmark, Saxo Bank has grown to become a prominent player in the global financial industry.

Brokers Highlights

Brokers Name

Saxo Bank

Trading Desk

ECN

Year Founded

1992

Headquarters

Denmark

Regulation

FSA – Danish Financial Supervisory Authority

US Clients

🇺🇸
No

247 Support

✔️

Support Email

Telephone

+45 3977 4000

Address

Philip Heymans Alle 15 2900 Hellerup Denmark

Languages

Australia, 中国大陆, België, Belgique, Česká, republika, Danmark, France, Hong Kong, S.A.R, 中國香港, Italia, UAE, الشرق ,الأوسط, Nederland, Norge, Polska, По-русски, Singapore, Slovenská, republika, Switzerland, Suisse, Schweiz, United Kingdom, 日本

Accounts Details

Commission

$0

Accounts

Classic, Platinum, VIP, Professional

Min. Deposit

$500

Currencies

USD, EUR

Execution

Market Еxecution

Leverage

1:30

Spreads

0.7 pips

Trade Size

0.01

Instruments

Commodities, Stock CFDs, ETFs, Forex, Indices, Metals

Demo Trading

✔️

Swap-Free

CopyTrading

Crypto Trading

✔️

Platforms

Platform

SaxoTraderGO, SaxoTraderPRO

Mobile Trading

✔️

Web Trading

✔️

Affiliate

✔️

Funding

Deposit

Bank transfer, credit/debit cards

Withdrawal

Bank transfer, credit/debit cards

Pros

  • Global Access
  • Diverse Range of Assets
  • Advanced Trading Tools
  • Research and Analysis
  • Regulated Brokerage

Cons

  • High Fees
  • Complex Platform for Beginners
  • Minimum Deposit Requirements
  • Limited Customer Support Hours
  • Inactivity Fees
5 / 5 – 5 Ratings

The Midas brokerage firm was established in 1992 and later changed its name to SaxoBank. The broker received a license from the FSA, a Danish financial supervisory authority, in 2001. The business thereafter adopted the name SaxoBank. Customers from 170 different nations may now access the broker’s online financial markets. In 2017, the e-FX Awards presented by FX Week and the ADVFN International Financial Awards named the SaxoTraderGO terminal as the finest trading platform for active trading.

License and Regulation

Saxo Bank A/S is a fully licensed European bank under the supervision of the Danish FSA. As such, we comply with stringent reporting requirements and client management regulations under EU directives that are designed to protect you.

This commitment to keeping your investments safe has been with us since our earliest days. Saxo Bank A/S (then called Midas) was the first broker in Denmark to gain approval from the European Investment Directive in 1996, the very same year it was introduced. Today, the Saxo Group operates around the world collaborating closely with supervisory authorities in each jurisdiction.

Saxo Bank ownership

Saxo Bank A/S is a privately owned company. Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co., Ltd, owns 50.89 percent of the shares of Saxo Bank. Saxo Bank Founder and CEO Kim Fournais owns 27.53 percent of the Bank’s shares, while Sampo Plc, a leading Nordic financial services group, owns 19.43 percent of the shares. The remaining shares are held by minority shareholders including a number of current and former employees of the Bank.

Saxo Bank A/S (company registration no. 15731249) is incorporated in Denmark as a licensed bank (license no. 1149) and is regulated – along with Saxo Bank A/S Italy, Saxo Bank A/S Czech Republic, Saxo Bank A/S Netherlands – by the Danish Financial Supervisory Authority (FSA) – Finanstilsynet, Århusgade 110, 2100, København Ø. Further details regarding the Danish FSA and the license of Saxo Bank A/S may be viewed at finanstilsynet.dk. As a member of the European Union, Denmark has incorporated the EU Banking and Investment Directives into Danish law.

Why Trade With Saxo

  • Trade more than 60,000 instruments across stocks, ETFs, bonds, mutual funds, options, futures or other leveraged products.
  • Access both our platforms, the award-winning SaxoTraderGO and professional-grade SaxoTraderPRO, from one account.
  • Benefit from market-leading entry prices and get tighter spreads and lower commissions when you upgrade your trading tier.
  • Receive best-in-class digital support as standard and unlock even better personal service with our premium trading tiers.

Saxo Capital Markets offers clients access to an extensive catalog, comprised of both leveraged and investment products, that spans a multitude of asset classes. It might be easier to list what Saxo doesn’t offer. As advertised on its U.K. and international websites, the available instruments include:

  • 182 FX spot pairs
  • 140 FX forwards
  • 44 FX vanilla options
  • 200+ futures contracts
  • 19,000+ stocks (36 worldwide exchanges)
  • 1,200+ listed options (24 exchanges)
  • 9,000+ CFDs
  • 19 commodity CFDs
  • 5,000+ bonds (government and corporate)
  • 3,000+ ETFs (30+ exchanges)
  • Managed portfolios
  • 250+ mutual funds (non-U.K. International accounts)
  • Cryptocurrency ETNs (non-U.K. International accounts)

Trading Accounts

Join Saxo today and trade all our asset classes on industry-leading prices, through award-winning platforms and with expert personal service.

Classic

  • Minimum initial funding USD 2,000
  • Tight entry prices
  • Best-in-class digital service and support
  • 24/5 technical and account support

Platinum

  • Minimum initial funding USD 200,000
  • Up to 30% lower prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority local-language customer support

VIP

  • Minimum initial funding USD 1,000,000
  • Best prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Local-language personal relationship manager
  • Direct access to our trading experts, 24/5
  • 1:1 SaxoStrats access
  • Exclusive event invitations

Trading Platforms

SaxoTraderPRO, a downloadable platform that is perfect for experienced traders, is the company’s flagship product. The company’s unique interfaces are completed by SaxoTraderGO, a web-based platform with practical trading functionality and an easy-to-use interface, and a practical mobile application. Furthermore, Saxo gives its customers access to third-party tools that might improve their trading experience as well as APIs that they can use to create custom apps. One important thing to keep in mind is that Saxo Capital Markets does not provide MT4, the ubiquitous, white-labeled interface that is a component of almost every forex broker’s platform package.

SaxoTraderGO

  • Key features – Enhanced trade tickets, fundamental and technical analysis tools, extensive charting package, options chain, performance analysis and comprehensive account overview. 
  • Asset classes – Access stocks, ETFs, bonds, mutual funds, managed portfolios, options, futures and other leveraged products.
  • Interface – Supports one-screen setup (chart can be dragged to second screen). Access through both mobile and desktop.

SaxoTraderPRO

  • Key features – Algorithmic orders, one-click trading, options chains and charting packages. Analyse your performance in detail with our revamped account section.
  • Asset classes – Access stocks, ETFs, bonds, mutual funds, managed portfolios, options, futures and other leveraged products.
  • Interface – Fully customisable across six screens, with advanced workspace management and multi-channel linking between modules. Access on PC and MAC.

Contacts

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

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Saxo Bank

5 / 5 – 5 Ratings

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