Saxo Review

Multi-asset investors and active traders

DANISH FSA

Founded 1992 · Denmark · Saxo Bank A/S

Why investors choose this broker

No platform fee and no inactivity fee
No minimum deposit for individual accounts
US stock and ETF commissions start from $1
20-day demo account includes USD 100,000 simulated funds

Review summary

Saxo is a Danish bank and broker with investing and trading platforms covering stocks, ETFs, funds, bonds, options, CFDs, forex, and futures.

Pros

No platform fee and no inactivity fee
No minimum deposit for individual accounts
US stock and ETF commissions start from $1
20-day demo account includes USD 100,000 simulated funds
Currency conversion fee capped at ±0.25%
Mutual funds have $0 commission, custody, and platform fees
One login gives access to SaxoInvestor and SaxoTrader

Cons

Classic custody fee is 0.15% p.a. on stocks, ETFs/ETCs, and bonds
Manual orders by phone, chat, or email cost EUR 50
Classic emailed reports cost USD 50 per request
Classic and Platinum instrument additions cost USD 200
Terminated accounts can incur EUR 15 per month administration fee
Proxy voting costs EUR 30 annually plus EUR 5 per vote
Some desktop market data features require a subscription

Company background

Saxo is a Danish bank and broker offering investing and trading through one account. Founded in Denmark in 1992, it serves investors and traders through SaxoInvestor, SaxoTrader, and a desktop version of SaxoTrader. The product range includes stocks, ETFs, mutual funds, bonds, options, CFDs, forex, futures, commodities, and margin trading. Individual, corporate, and joint accounts are listed among the account types.

Fees and pricing

Saxo lists no platform fees, no inactivity fee, and no minimum initial funding. Stock commissions start from $1 on US stocks and from EUR 2 on Euronext Amsterdam, Lisbon, and Paris. ETF commissions start from $1 on US listed ETFs, futures commissions are as low as $1 per contract, bond commissions start from 0.05%, and listed options commissions are as low as $0.75 per contract. Mutual funds are listed with $0 commission, custody, and platform fees.

Currency conversion is charged at no more than plus/minus 0.25 percent. Custody fees may apply to stocks, ETFs/ETCs, and bonds, with Classic accounts shown at 0.15% p.a., Platinum at 0.12% p.a., and VIP at 0.09% p.a. Other explicit charges include a EUR 50 manual order fee, a USD 50 reporting fee for Classic clients requesting reports by email, and a EUR 15 monthly terminated account administration fee.

Regulation and safety

Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority and received its banking license in 2001. Saxo is a member of the Danish Depositor and Investor Guarantee Scheme. Deposits are covered up to EUR 100,000 per depositor, while eligible financial instruments that cannot be returned may be covered up to EUR 20,000. Saxo also states that client money is safeguarded in at least one segregated account.

Platform experience

SaxoInvestor is presented as a simpler investing platform for stocks, ETFs, mutual funds, bonds, and options, with mobile and browser access. SaxoTrader is the advanced trading platform for the full product range, available across mobile, web, and desktop. Saxo also supports selected third-party tools, including TradingView, OpenAPI for Excel, and MultiCharts, and offers access to its OpenAPI.

Pros and cons

Saxo is strongest for users who want one account for both investing and advanced multi-asset trading, with explicit low entry requirements and a broad platform setup. The main drawbacks are fee details that can matter for frequent or specialised users, including custody fees, manual order fees, reporting charges, proxy voting fees, and instrument addition fees for some account tiers.

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Trading fees & commissions

Saxo charges no platform or inactivity fees and has no minimum initial funding. Stock and ETF commissions start from $1, futures from $1 per contract, bonds from 0.05%, listed options from $0.75 per contract, and currency conversion is no more than plus/minus 0.25 percent. Custody fees may apply to stocks, ETFs/ETCs, and bonds.

Fees

Item	Fee
Bonds	Commissions from 0.05%; commissions from EUR 20
Funds	Commission, custody, and platform fees at $0
Custody	Stocks and ETFs/ETCs: 0.15% Classic, 0.12% Platinum, 0.09% VIP p.a.; Bonds: 0.15% Classic, 0.12% Platinum, 0.09% VIP p.a.
Futures	Commissions as low as $1 per contract
Options	Commissions as low as $0.75 per contract; EUR stock options commission per contract EUR 0.75
Platform	No platform fees
Reporting	USD 50 for Classic clients requesting online reports by email
Inactivity	No inactivity fee
Min Deposit	No minimum deposit
Manual Order	EUR 50 per order
Proxy Voting	EUR 30 annual charge; EUR 5 per vote or change; EUR 5 for each attendance card
Fx Conversion	No more than plus/minus 0.25 percent
Instrument Addition	USD 200 for each new instrument added for Classic and Platinum clients
Terminated Account Admin	EUR 15 per month

Trading platform & features

Platforms

SaxoInvestor
SaxoTrader
SaxoTrader for desktop
Web app
iOS app
Android app
Desktop app
TradingView
API
OpenAPI for Excel
MultiCharts

Regulation and investor protection

Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority and received its banking license in 2001. Saxo is a member of the Danish Depositor and Investor Guarantee Scheme, with deposits covered up to EUR 100,000 and eligible unreturned financial instruments covered up to EUR 20,000.

Broker FAQs

Is Saxo safe?

Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority and has a banking license. Saxo is also a member of the Danish Depositor and Investor Guarantee Scheme.

Is Saxo a scam?

No. Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority, has a banking license, and is a member of the Danish Depositor and Investor Guarantee Scheme.

Is Saxo regulated and by whom?

Saxo Bank A/S is under supervision by the Danish Financial Supervisory Authority, also described as the Danish FSA. Saxo received its banking license in 2001.

What happens to my money if Saxo goes bankrupt?

Under the Danish Depositor and Investor Guarantee Scheme, registered cash deposits are covered up to EUR 100,000 per depositor. If Saxo cannot return eligible financial instruments, the Guarantee Fund may cover losses up to EUR 20,000.

Does Saxo keep client funds in segregated accounts?

Saxo states that money deposited into a Saxo account is safeguarded in at least one segregated account.

What products does Saxo offer?

Saxo lists stocks, ETFs, mutual funds, bonds, options, CFDs, forex, futures, commodities, and margin trading across its investing and trading platforms.

Does Saxo offer ETFs?

Yes. Saxo lists ETFs as an available product, and ETF commissions start from $1 on US listed ETFs.

Does Saxo offer options?

Yes. Saxo lists options as an available product, with listed options commissions as low as $0.75 per contract.

What is the minimum deposit at Saxo?

Saxo lists simple online account signup with no minimum deposit. The pricing page also states there is no minimum initial funding.

Does Saxo charge an inactivity fee?

No. Saxo states that it does not charge an inactivity fee.

What does Saxo charge for stock trades?

Saxo lists stock commissions from $1 on US stocks. The homepage also lists Euronext Amsterdam, Lisbon, and Paris stock commissions from EUR 2.

What is Saxo's currency conversion fee?

Saxo charges no more than plus/minus 0.25 percent in currency conversion fees when trading an instrument in a currency different from the account base denomination.

Does Saxo have a demo account?

Yes. Saxo offers a 20-day demo account with simulated USD 100,000.

Does Saxo have a mobile app?

Yes. Saxo lists iOS and Google app links for both SaxoInvestor and SaxoTrader.

Is Saxo good for beginners?

SaxoInvestor is described as a simple investing platform with mobile and browser access, guided signup, and portfolio tracking. Beginners who only need basic investing tools may prefer that platform over the more advanced SaxoTrader.

Is Saxo good for long-term investing?

SaxoInvestor supports stocks, ETFs, mutual funds, bonds, and options in one place. It also includes portfolio tracking, investment inspiration, and insights.

Bottom line

Saxo suits investors and traders who want a regulated Danish bank with both simple investing and advanced multi-asset trading platforms. It may be less suitable for users who want to avoid custody fees, manual service charges, or specialised account administration fees.

Saxo

Multi-asset investors and active traders

Open Account

Your capital is at risk. Other fees apply.