Saxo review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.

Our verdict

Saxo suits investors who want a Danish bank with no account or inactivity charge and a wide market list, but the stock trade fee is $1 and the FX fee is 0.25%. Costs stay predictable for long holders, less so for frequent traders.

Key facts

Best for
Long-term investors and traders who want one regulated bank for stocks, forex, options and futures.
Minimum deposit
CHF 0 (Source, checked September 26, 2026)
Stock trade fee
$1 (Source, checked September 26, 2026)
Account fee
€0 (Source, checked September 26, 2026)
Inactivity fee
€0 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Forex, CFDs, Options, Futures, Bonds, Funds (Source, checked September 26, 2026)
Regulators
Danish Financial Supervisory Authority (FSA), Financial Conduct Authority (FCA) (Source, checked September 26, 2026)
Investor protection
EU ICS up to EUR 20,000 (Source, checked September 26, 2026)
Retail accounts that lose money
64% (Source, checked September 26, 2026)
Currency conversion fee
0.25% (Source, checked September 26, 2026)
Options contract fee
$2 (Source, checked September 26, 2026)
Deposit and withdrawal fees
Free deposits and withdrawals (Source, checked September 26, 2026)
Platforms
SaxoInvestor, SaxoTrader (Source, checked September 26, 2026)
Account types
Joint, Corporate (Source, checked September 26, 2026)
Legal entity
Saxo Bank A/S (Source, checked September 26, 2026)
Headquarters
Denmark (Source, checked September 26, 2026)
Founded
1992 (Source, checked September 26, 2026)
Features
Demo account, Fractional shares, Mobile app
Pricing model
Low fees
Official website
home.saxo

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • Account fee and inactivity fee are both €0 and €0
  • Minimum deposit is CHF 0 and deposits and withdrawals carry no charge
  • Regulated in Denmark by the Danish Financial Supervisory Authority and in the UK by the Financial Conduct Authority
  • Markets run from stocks and ETFs through forex, options, futures, bonds and funds

Cons

  • Stock trade fee of $1 sits well above the site median of €0
  • FX fee of 0.25% applies on top of trading costs
  • Investor protection is limited to the EU scheme at EU ICS up to EUR 20,000
Saxo

Ready to try Saxo?

Scored 9.3 / 10 by BrokerCue.

See alternatives

Who it suits

  • Investors holding stocks and ETFs long term who want no account or inactivity charge
  • Traders who need forex, options, futures and CFDs on one account
  • Joint and corporate account holders

Who should look elsewhere

  • Beginners wanting commission-free share dealing, where eToro charges $0 per trade
  • Small-balance traders unwilling to meet the Vantage minimum deposit of $5
  • Frequent currency converters put off by the 0.25% FX fee

How it compares on our data

Saxo ranks 1 of 138 on account fee and 1 of 56 on inactivity fee, so holding a dormant account costs nothing. The minimum deposit ranks 1 of 213. Stock trade fee is weaker at 107 of 161, which is where cheaper platforms pull ahead.

How Saxo compares

Where Saxo is available

Available
Everywhere except United States
Licence in Denmark
Danish Financial Supervisory Authority (FSA) (1149), checked September 26, 2026
Licence in United Kingdom
Financial Conduct Authority (FCA), checked September 26, 2026

Frequently asked questions

What does Saxo charge to hold an account?+

The account fee is €0 and the inactivity fee is €0, so there is no annual or dormancy charge. Saxo ranks 1 of 138 on account fee and 1 of 56 on inactivity fee. That makes it a straightforward choice for long-term holdings.

How much does it cost to buy a stock?+

Stock trades cost $1 through Saxo. That places it at 107 of 161 on this measure, and above the site median of €0. Active share traders should weigh that before opening.

Is my money protected at Saxo?+

Saxo Bank A/S is regulated in Denmark by the Danish Financial Supervisory Authority and in the UK by the Financial Conduct Authority. Investor protection runs through the EU scheme at EU ICS up to EUR 20,000. Balances above that limit sit outside the scheme, so larger portfolios need checking.

Does Saxo charge for deposits and withdrawals?+

Deposits and withdrawals are free of charge. The minimum deposit is CHF 0, so the account opens without a large commitment, and the minimum deposit ranks 1 of 213. Moving money in or out adds nothing to the cost of a trade.

What markets can I trade on Saxo?+

The market list covers stocks, ETFs, forex, CFDs, options, futures, bonds and funds. Saxo offers two platforms, SaxoInvestor and SaxoTrader, plus a mobile app and a demo account. That range suits investors who want one account across asset classes.

Who is Saxo suited to?+

It fits long-term investors who value a €0 account fee and €0 inactivity fee over a low trade cost. Joint and corporate accounts are both offered. Traders who buy often should compare the $1 stock trade fee first.

What is the FX fee and does it matter?+

The FX fee is 0.25%, charged on currency conversion. Investors who hold assets in their trading currency avoid repeated conversion. Frequent currency moves make this a real drag on top of the $1 trade fee.

What account types does Saxo offer?+

Joint and corporate account types are listed. Saxo also offers fractional shares and a demo account, which helps test an order before committing money. Investors needing a tax-sheltered wrapper are not covered by the listed account types.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Saxo

Saxo

Long-term investors and traders who want one regulated bank for stocks, forex, options and futures.

9.3/10See alternatives

Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie policy
Cookie settings