Saxo Bank – reviews on the premium level trading platform

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Saxo Bank – broker review

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Overview of the best financial organizations involved in online trading: Saxo Bank

If you decide to engage in commercial activities related to online commerce, first of all, learn all that they write about it in the network and other media. Make a list of well-known web resources that are respected by experts in the industry, prepare your questions and start searching for answers to them. If you don’t go into details, it seems that even a first-year economics student will cope with such a task. But … In any matter, especially if it is connected with the modern economy, there will always be important details on which the final result of your work depends. As the object of the review we take Saxo Bank. Well-known Danish investment bank, which is of great interest for this topic. Why bank? We learn the answer to this question by examining in more detail the activities of this participant in the global financial market.

Saxo Bank – principles of work and attitude towards customers

For more than two decades, a financial institution has provided services to its customers, ensuring their needs, analyzing and controlling the market situation, trying to keep up with industry leaders. Throughout its existence, the company adhered to the philosophy that is called the philosophy of objectivism, and its main principles were formulated at the time by the famous writer Ayn Rand:

It sounds noble, although it is not proof of the safety of clients of the company. But do not worry about this. He was one of the main ones, both in 1992 and today. Specialists of the institution are constantly thinking about the comfort and safety of financial resources, as well as personal information of their clients:

● The company’s specialists attract new customers due to the simplicity, transparency and availability of their services. If at the end of the last century many traders were counting on financiers, today brokers are interested in both educated economists and representatives of other specialties, and the latter invest their savings only in the case of full confidence in their safety.

● Quarterly / annual reports, changes in management structure, financial plans also indicate the security of a financial institution.

● An application developed by the best experts of Saxo Bank and constantly updated software is not only the immediate execution of the necessary transactions, but also the protection of all data from competitors and fraudsters.

● The multi-faceted activity of the company always makes it possible to cover losses in one direction, with profits in other sectors.

● Representative offices are open not only in Denmark, but also in Britain, Italy, France, the Czech Republic, Spain, China, Singapore, etc.

● But of course the age of the company. According to this indicator, it is among the most trusted and reliable corporations.

In the event that you decide to register a login with Saxo Bank, but you still have some doubts, be sure to study one of the main indicators of the reliability of any broker – an organization that regulates the activity of a participant in the global financial market.

Saxo bank Regulators

First of all, you need to pay attention to the readers that Saxo Bank ensures the safety of user accounts thanks to the deposit guarantee system and European financial legislation.

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And in 2001, Saxo Bank obtained a license from the Danish Financial Supervision Authority, which allowed this institution to provide its services in almost any country in the world. Do you still have any doubts? Then there remains the last option – reviews of real customers (do not confuse competitors’ comments with purchased!) And reviews of reputable financial analysts.

Training at Saxo Bank

The organization in question provides both new and experienced traders with the opportunity to thoroughly study not only the structure of the global financial market, but also understand the role of each element of this complex mechanism.

● Thanks to the team of this institute, you will learn:

● What is Forex, and what factors affect the exchange rate.

● What is needed and what are the securities.

● How to make money on CFD contracts.

● Learn to work on SaxoTraderGO and SaxoTraderPRO.

● Learn the benefits of major exchange products and deal with their pricing.

But besides theoretical training, bank customers can open a demo account on Saxo Bank in order to see in practice all the nuances of a trader’s work. It is at this stage that most users decide whether to work on trading platforms or to devote themselves to other activities.

Also on the web resource are provided: individual advice, assistance of experienced analysts and managers, the study of trading strategies under the supervision of professional traders or training in small groups.

What Saxo Bank customers should know

Studying the reviews prepared on Saxo Bank, attentive readers immediately note that there are no usual tables on the authoritative sites with indication of the main indicators. On the one hand, it is alarming, but, on the other hand, maybe the resource owners simply don’t want to “reveal the cards” ahead of time?

Saxo bank Trading Terms

● The minimum deposit is $ 10,000.

● The minimum lot is 0.01.

● Available account types are Classic, Premium and Platinum.

● Currency accounts – euro, US dollars, British pounds, Japanese yen.

● The maximum shoulder is 1: 100.

● Site support – works around the clock, 5 days a week, except weekends.

Saxo Bank Deposit and withdrawal

Some users believe that for this trading platform, it is necessary to increase the number of methods for depositing and withdrawing money. Many Saxo Bank reviews refer to this. At the moment, for the implementation of the task used: bank transfers, PayPal, as well as debit and credit plastic cards of the most common systems. Only on the basis of these data it is possible to accurately determine that the site belongs to the bank.

Saxo Bank Assets

By the number of used financial assets and instruments, the broker is one of the most advanced companies. It uses currency pairs, stocks, bonds, commodities, precious metals, as well as instruments such as CFDs, options, futures, and others.

Saxo account

Trade, hedge and invest across 40,000
instruments from our most popular account.

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

Why trade with Saxo?

Global market access

Trade more than 40,000 instruments across forex, CFDs, stocks, options, ETFs, commodities, futures, bonds and mutual funds.

Powerful platforms

Access both our platforms, the award-winning SaxoTraderGO and professional-grade SaxoTraderPRO, from one account.

Industry-leading prices

Benefit from market-leading entry prices and get tighter spreads and lower commissions when you upgrade your trading tier.

Expert support

Receive best-in-class digital support as standard and unlock even better personal service with our premium trading tiers.

Our account tiers

Trade more, pay less and get better service

Minimum funding USD 10,000


Benefit from industry-leading entry prices

  • Tight entry prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority local-language customer support
  • Direct access to our trading experts, 24/5
  • 1:1 SaxoStrats access
  • Exclusive event invitations

Minimum funding USD 200,000


Receive even tighter spreads and commissions

  • Up to 30% lower prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority local-language customer support
  • Direct access to our trading experts, 24/5
  • 1:1 access to the SaxoStrats
  • Exclusive event invitations

Minimum funding USD 1,000,000


Get the VIP treatment with our best prices and service

  • Our very 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

Open a Saxo account now

How to move between tiers

How to move between tiers

When you open an account, you are placed into a tier based on your initial funding. After your first three months trading, you will automatically be moved to the tier that best reflects your volume – with no additional funding required. To better understand how this works, speak to one of our specialists .

When you open an account, you are placed into a tier based on your initial funding. After your first three months trading, you will automatically be moved to the tier that best reflects your volume – with no additional funding required. To better understand how this works, speak to one of our specialists .

Frequently asked questions

What documents should I read before applying?

Please read the following documents before applying for a Saxo account: General Business Terms, Order Execution Policy and Conflict of Interest Policy.

What commissions does Saxo charge?

For a comprehensive overview of our industry-leading spreads and commissions and details of additional costs, such as inactivity fees, click here.

How is my money protected?

As we’re regulated and authorised by the FSA, when you make a cash deposit into a Saxo account, up to EUR 100,000 of your money is guaranteed by the Danish Guarantee Fund.

How do I open an account?

It’s quick and easy to open a Saxo account: just fill in our simple online form and verify your ID.

Can I hold multiple currencies in a Saxo account?

You can fund and deposit your Saxo account with 18 different currencies. Speak to our experts to find out more.

What markets can I access?

Your Saxo account will provide access to more than 40,000 instruments, across asset classes, including FX, CFDs, ETFs, stocks, bonds and more. Find out about our range of tradable markets, here.

How do I transfer stocks to Saxo?

You can transfer existing stock portfolios to Saxo through our award-winning platforms. Once you’ve opened your account, log into the platform, navigate to ‘My account’, and select ‘Asset transfer’.

If you didn’t find what you were after, contact us directly and we’ll be pleased to help.

Open a Saxo account now

Open a Saxo account now

Simply fill in our application form and submit your documentation.

Our other accounts

Professional account

Find out more about opening an elective professional account.

Corporate account

Give your firm access to the same tools and markets as retail clients.

Democratising trading
and investment for
more than 25 years.

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

Products & pricing

Platforms & services



Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

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Saxo Bank Review

For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on Saxo Bank:

  • Founded in 1992, Saxo Bank is a regulated bank and licensed in six tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  • Saxo Bank is an exclusive broker, requiring a USD 10,000 minimum deposit (GBP 500 for the UK, SGD 3,000 for Singapore) to open an entry-level “Classic” account. Saxo Bank’s Platinum and VIP accounts require USD 200,000 and 1,000,000, respectively. If the minimum deposit is a deal-breaker, consider IG or CMC Markets.
  • Minimum deposit aside, the entire Saxo Trader client experience is absolutely brilliant. Alongside access to trading 40,000 instruments, Saxo Bank offers reliable customer service and excellent pricing across the board. Better still, Saxo Bank’s flagship platform, SaxoTraderGo, is terrific, including everything traders require to navigate the market.

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Overall Summary

Feature Saxo Bank
Overall 5 Stars
Trust Score 98
Offering of Investments 5 Stars
Commissions & Fees 5 Stars
Platform & Tools 5 Stars
Research 5 Stars
Mobile Trading 4.5 Stars
Customer Service 4 Stars
Education 4 Stars

Is Saxo Bank Safe?

Saxo Bank is considered low-risk, with an overall Trust Score of 98 out of 99. Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Feature Saxo Bank
Year Founded 1992
Publicly Traded (Listed) No
Bank Yes
Tier-1 Licenses 6
Tier-2 Licenses 1
Tier-3 Licenses 0
Trust Score 98

Offering of Investments

Saxo Bank is a real multi-asset broker catering to investors and traders with more than 35,000 electronically-tradeable symbols across a wide array of international markets and asset classes (and an additional 5,000 bonds offline, for a total of 40,000 instruments). In 2020, Saxo Bank is our number one broker in this category finishing Best in Class for its Offering of Investments. The following table summarizes the different investment products available to Saxo Bank clients.

Feature Saxo Bank
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 182
CFDs – Total Offered 35000
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD No

Commissions & Fees

Overall, Saxo Bank provides traders excellent all-around pricing. For trading forex and CFDs, Saxo Bank is our number one broker in 2020, earning first place in the Commission & Fees category.

Account types: Saxo Bank offers three account types. The entry-level Classic account requires a USD 10,000 minimum deposit, while the Platinum account for active traders requires USD 200,000. In 2020, Saxo Bank won our award for Best VIP Client Experience. Saxo Bank’s VIP account, which offers the most savings on pricing, is reserved for elite investors who deposit at least USD 1,000,000. The exception to these steep requirements is in the UK and Singapore, where the Classic account is available with a deposit of only GBP 500 or SGD 3,000, respectively.

Spreads: Referencing Saxo Bank’s Global Standard pricing data for the 30 days ending October 10th, 2020, the average spread on the EUR/USD pair was 0.6 pips. Saxo Bank’s primary focus is its spread-only pricing, which is commission-free and applicable to all traders. That said, Saxo Bank’s volume-based pricing includes a default commission equivalent of only 0.5 pips and could make sense for active traders.

Best execution: Saxo Bank is committed to the FX Global Code, an evolving interbank standard around enhanced disclosures and execution best-practices. The mission of the FX Global Code is to promote integrity and transparency across the global foreign exchange market.

Feature Saxo Bank
Minimum Initial Deposit $10,000.00
Average Spread EUR/USD – Standard 0.6 (as of Sep 19)
All-in Cost EUR/USD – Active 0.6 (as of Sep 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

No question, Saxo Bank’s proprietary trading platforms SaxoTraderGO (web) and SaxoTraderPRO (desktop) set the industry benchmarks, thanks to their streamlined designs and robust trading tools. While both platforms are great, the web version is my preferred choice.

SaxoTraderGO: SaxoTraderGO is the broker’s responsive web-based platform that is designed around simplicity, yet is rich with features. Charting is robust, offering 55 indicators and nearly 20 drawing tools, including Trade Signals from Auto Chartist.

SaxoTraderPRO: The broker’s flagship desktop platform is SaxoTraderPRO, which resembles SaxoTraderGO in terms of look and feel. Functionality is similar; however, the PRO platform offers a larger selection of professional trading features. For example, PRO supports up to six monitors, streaming Level 2 order books, streaming time and sales, and algorithmic orders. Note, additional data subscriptions are required to use tools like the streaming Level 2 order book, which is a standard industry practice.

Usability: Saxo Bank provides a universal platform experience and is our number one broker, Best in Class, in the Ease of Use category. Menus have a similar feel, customized charts and watch lists automatically save and sync with the mobile app, and, all in all, great attention to detail can be seen throughout.

MetaTrader: For traders who insist on using MetaTrader instead of SaxoTraderGo, the option is available, but it isn’t cheap. To use MetaTrader with Saxo Bank, a $20,000 minimum deposit is required, which also includes a $2,000 per month minimum spend requirement.


Saxo Bank combines quality in-house research with well-known third-party providers to offer an excellent research experience.

Range of content: Saxo offers a rich, diverse research offering across its websites and platforms. Research ranges from in-house analysts who publish daily analysis through Saxo Bank’s Market Analysis portal to content provided by numerous third-party providers.

Usability: Saxo Bank does a great job of centralizing its research within the SaxoTraderGo web platform. Third-party research providers include Auto Chartist (automated trade signals) and streaming economic news from NewsEdge and RanSquawk. To find flaws, we had to get picky; for example, while there is an integrated economic calendar, it is not interactive.

SaxoTraderPRO: Saxo Bank’s desktop platform offers even more research tools than its web counterpart, including screeners, level 2 order books, and equity research reports from FactSet.

Reports: Saxo Bank’s research team delivers quarterly outlooks and yearly forecast reports in pdf format. Furthermore, related podcasts with accompanying blog posts are provided, complementing the daily coverage from within the Market Analysis section.

Mobile Trading

Saxo Bank does a great job tying in high-quality trading tools and research into its mobile app, unifying the reliable SaxoTraderGO web-based platform experience.

Trading tools: The economic calendar, market news, and other research content, including pattern recognition analysis from Auto Chartist, all match the web-version of the platform.

Charting: The charting capabilities are rich with drawing tools, indicators, and customizations, again providing a nearly identical experience with the web-based version of the platform.

Syncing: In addition to syncing watch lists, mobile charts in SaxoTraderGO mobile also sync with the browser-based version of the platform. For example, if you draw trend-lines and add indicators in the web-version, they appear in the mobile app (and vice-versa).

Customer Service

To score Customer Service, partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.


  • Average Connection Time: th (22 brokers)

Final Thoughts

Saxo Bank does a brilliant job of unifying its desktop, web, and mobile platforms. Not only is the client experience seamless, but it is also rich with tools and research throughout.

Bottom line: For traders that can afford the high minimum deposit, Saxo Bank provides a complete package worth being a customer for, under a global brand that traders can trust. Saxo Bank finished Best in Class across an impressive twelve categories (more than any other broker) while holding first place across four of them year-over-year in 2020.

If the minimum deposit is a deal-breaker, I recommend IG or CMC Markets, which provide a similar brilliant experience with less stringent account minimums.

About Saxo Bank

Established in 1992, Saxo Bank (majority-owned by China-based Geely Holding Group) is one of the leading retail forex and multi-asset brokerages with regulated entities across 15 international jurisdictions, including the UK, Denmark, and Singapore. Catering to both retail and institutional clients, Saxo Bank processes over one million transactions per day and holds €46 billion in assets under management (AUM) servicing 860,000 clients as of June 30th, 2020, following its acquisition of BinckBank.

Saxo Bank offers traders nearly every electronically traded asset class, including spot FX, FX options, non-deliverable forwards (NDFs), Contracts for Difference (CFDs), stocks, stock options, Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs) including cryptos, futures, contract options, and bonds. Read more on Wikipedia about Saxo Bank.

Saxo Bank Trading Features

Feature Saxo Bank
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 55
Charting – Drawing Tools (Total) 19
Charting – Trade From Chart Yes
Watchlists – Total Fields 12
Order Type – Trailing Stop Yes

Saxo Bank Research Features

Feature Saxo Bank
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

Saxo Bank Mobile App Features

Feature Saxo Bank
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 41
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave Yes
Forex Calendar Yes

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

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