Recommended for investors and traders looking for a great trading platform and solid research

Saxo Markets UK is the UK legal antity of, Saxo Bank A/S a Danish investment bank founded in 1992, providing online trading and investment services. The company is regulated the UK Financial Conduct Authority (FCA). 

Saxo Markets is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.

Saxo Markets pros and cons

The Saxo trading experience is driven by an excellent and well-designed trading platform. The research service is also superb, with Saxo Market 's proprietary research team constantly feeding trade ideas. Saxo has a wide-ranging product portfolio, meeting the needs of even heavy traders.

On the negative side its bond, options and futures trading fees are high. The minimum deposit is relatively high, ranging between $600-10,000, depending on your residency. There is no live chat customer support or 24/7 availability.

Pros

Cons

 Great trading platform

 High bond, options and futures fees

 Outstanding research

 High minimum deposit

 Broad product portfolio

 Lacks live chat and 24/7 availability

Saxo Markets main features and highlights

🗺️ Country of regulation

UK

💰 Trading fees class

Average

💰 Inactivity fee charged

Yes

💰 Withdrawal fee amount

$0

💰 Minimum deposit

$10,000

🕖 Time to open an account

>3 days

💳 Deposit with bank card

Available

👛 Depositing with electronic wallet

Not available

💱 Number of base currencies supported

26

🎮 Demo account provided

Yes

🛍️ Products offered

Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, SaxoSelect

Saxo Market’s Fees

Saxo Markets has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.

Pros

Cons

 Low forex fees

 Inactivity fee

 Low fund fees

 High bond, options and futures fees

 No withdrawal fee

 

Saxo Markets fees snapshot

Assets

Fee level

Fee terms

US stock

Average

$0.02/share; min $10, but using VIP pricing the minimum can be as low as $3

EURUSD

Low

The fees are built into the spread, 0.8 pips is the average spread cost during peak trading hours. Using VIP pricing the spread can be as low as 0.4 pips.

Mutual fund

Low

Mutual funds are available only in certain countries. The broker doesn't charge any fee for mutual fund trading.

Inactivity fee

High

In the UK, £25 after one quarter of inactivity. SIPP and ISA accounts are exempt from this fee. In non-UK countries, up to $150 after 6 months of inactivity.

How we ranked fees

We ranked Saxo Markets's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

What you need to keep an eye on are trading fees and non-trading fees. To learn more about the various broker fees head over to the fees section of our Saxo Bank review.

Saxo Markets trading fee

Saxo Markets has average share trading fees overall. Although the fee structure differs among various account types, it is transparent and you can easily calculate costs. We analyzed the fee structure of the Classic account. Saxo's Platinum and VIP accounts have a more favorable pricing structure.

We recommend Saxo if you want high-quality service and are willing to pay slightly higher fees in exchange. If you want a bargain, you can find discount brokers out there. Now, let's see a breakdown of the different asset classes.

Stock fees and ETF fees

Saxo Markets has average stock and ETF commissions.  It is cheaper than Swissquote but more expensive than TradeStation Global.

Saxo Markets stock and ETF commission of a $2,000 trade

 

Saxo Markets

Swissquote

TradeStation Global

US stock

$10.0

$25.0

$1.5

UK stock

$10.4

$32.5

$2.4

German stock

$12.0

$30.0

$2.4

The fee structure is volume-based, but there is a minimum fee.

Saxo Markets stock fees

Market

Commission

USA & Canada

 

NASDAQ, NYSE, ARCA, AMEX

$0.02/share (min $10)

Toronto Stock Exchange, TSX Venture Exchange

CAD 0.03/share (min CAD 20)

Europe / Middle East / Africa

 

Athens Exchange

0.35% (min €12)

See more

If you prefer trading on margin or short sale, the only way to do it is by trading CFDs

Forex fees

Although not branded as a forex broker, Saxo Markets has an appeal to forex traders with low forex fees overall. In comparison with Swissquote and TradeStation Global, Saxo Markets has lower forex fees.

To have a clear picture of forex broker fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads, and financing costs for all brokers.

Saxo Markets forex benchmark fee of a $20,000 30:1 long position held for one week

 

Saxo Markets

Swissquote

TradeStation Global

EURUSD benchmark fee

$7.8

$10.2

$8.1

GBPUSD benchmark fee

$6.3

$7.4

$8.8

AUDUSD benchmark fee

$7.2

$9.0

$8.8

See more

Fund fees

Similarly to the forex broker fees, Saxo's mutual fund fees are low. Although Saxo doesn't charge a fee when you trade mutual funds, these assets have annual maintenance fees, which are charged by the issuer, not the broker.

Saxo offers mutual funds only in certain countries, like Germany, Denmark or Poland. Throughout this review, we examined the fees of Saxo's UK product selection, but since mutual funds are not available on the UK market, the following benchmark comparison only serves as general information.

Saxo Markets commission for a $2,000 fund purchase

 

Saxo Markets

Swissquote

TradeStation Global

Mutual fund

$0.0

$9.0

$25.0

Bond fees

Saxo Markets has generally high bond fees.

Saxo Markets commission of a $10,000 government bond trade

 

Saxo Markets

Swissquote

TradeStation Global

US Treasury bond

$96.0

$75.0

$7.5

EU government bond

$96.0

$60.0

$15.0

Clients pay a 0.2% volume-based commission and a minimum fee. The minimum fee is very high at €80.

Platinum and VIP accounts have lower fees (0.10% and 0.05% with a minimum of €60 and €50, respectively).

Options fees

Options fees are generally high.

Unlike most brokers, Saxo bank charges a holding fee for long positions held overnight. Holding fees will not be applied for the first 30 days of any given position.

For short-listed options, the funding rate used for calculating the carrying cost is based on the relevant Interbank rate + a markup of 1.5%.

Saxo Markets stock index options commission of 10 contracts

 

Saxo Markets

Swissquote

TradeStation Global

US stock index options

$30.0

$19.9

$15.0

UK stock index options

$39.0

-

$19.5

German stock index options

$48.0

$12.0

$18.0

Fees vary depending on the currency of the underlying product:

Saxo Markets's options fees for stock indexes

Currency of underlying product

Commission per contract

EUR

4

GBP

3

USD

4

AUD

7

CAD

6

CHF

8

HKD

45

JPY

1,000

NOK

65

SEK

75

SGD

15

Futures fees

Similarly to options, Saxo Markets charges high fees on futures. Futures fees are mostly the same as options fees, the only exception being CHF, where the fee is CHF 8 for futures, double the rate charged for options.

Saxo Markets stock index futures commission of 10 contracts

 

Saxo Markets

Swissquote

TradeStation Global

US micro e-mini stock index futures

$40.0

$19.9

$5.0

UK stock index futures

$39.0

-

$12.4

German e-mini stock index futures

$48.0

$12.0

$16.2

Unlike most brokers, Saxo bank charges a carrying cost for overnight positions in futures. The carrying cost is calculated on the basis of the daily margin requirement and is applied to positions held overnight. This can be quite significant if you hold the contract for a longer time.

The funding rate used for calculating the carrying cost is based on the relevant Interbank rate + markup (250 bps for classic accounts).

CFD fees

Saxo Markets has low stock index CFD, while high stock CFD fees. 

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

Saxo Markets CFD benchmark fees, for a $2,000 long position held for one week

 

Saxo Markets

Swissquote

TradeStation Global

S&P 500 index CFD fee

$1.5

$1.9

$3.8

Europe 50 index CFD fee

$2.1

$2.5

$4.3

See more

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single-stock CFDs.

The trading fee of stock index, commodity, forex, and bond CFDs are built into the spread.

Saxo Markets stock CFD fees are volume-based, but there is a minimum fee.

Saxo Markets stock CFD fees

Market

Commission

USA & Canada

 

NASDAQ, NYSE, NYSE MKT

$0.02/share (min $10)

Toronto Stock Exchange

CAD 0.03/share (min CAD 20)

Europe / Middle East / Africa

 

Athens Exchange

0.35% (min €12)

See more

Crypto fees

At Saxo, you can trade cryptos through exchange-traded notes (ETNs). For a better understanding of crypto ETNs, check out our crypto blogpost.

Bitcoin and Ethereum ETNs are available on the Stockholm Stock Exchange. The trading cost of these is 0.1% of the trading volume plus a SEK 65 minimum fee for a Saxo Classic account.

SaxoSelect fees

SaxoSelect is a robo-advisory service where you can select an investment theme and let Saxo build a portfolio for you.

Average fees charged for this service vary between 0.75-0.95% of the investment value, depending on your residency and the strategy you choose. The fee consists of:

  • an annual service fee
  • a performance fee
  • a trading fee
  • a conversion fee if your account is in a different currency than your portfolio
  • a financing fee for CFD portfolios

Similarly to mutual funds, SaxoSelect is available only in certain countries, like Germany, Denmark or Poland. It is not available to UK clients.

Non-trading fees

Saxo Markets has average non-trading fees. The broker charges no account or withdrawal fees, but there is a high inactivity fee.

The inactivity fee depends on your residency:

  • For UK clients, it's called a platform fee and amounts to £25 per quarter. The fee is charged if you only hold cash funds in your account. If you've paid a custody fee (more on that later) for the given period, you won't be charged the platform fee.
  • For non-UK clients, the inactivity fee is $150 after six months (180 days) of inactivity. Inactivity in this case means not executing at least one trade.

Saxo Markets non-trading fees

 

Saxo Markets

Swissquote

TradeStation Global

Account fee

No

No

No

Inactivity fee

Yes

No

No

Deposit fee

$0

$0

$0

Withdrawal fee

$0

$10

$0

If you hold stocks, ETFs or bonds in your account, you'll be charged a custody fee. For UK residents, this is an annual 0.12% of open positions with a minimum of  €10/month. Fees are calculated daily but debited on a monthly basis.

You may also be charged for currency conversion, read details on that on the CFD fees section.

Account opening

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.

Pros

Cons

 Fully digital

 Minimum deposit is high in certain countries

 User-friendly

 Slow account verification

 Available in almost every country

 

                                                                                                                                            

What is the minimum deposit at Saxo Markets?

The required Saxo Markets minimum deposit is £500 in the UK for a Classic account.

The minimum deposit varies depending on your residency and the account type you choose. For example, the required minimum is $10,000 for Middle-Eastern or Central European clients, and $2,000 for Australian or Swiss residents.

Check the minimum deposit requirements for Classic accounts in different countries

Account types

Saxo Markets offers three account types for UK residents (account types might differ in other countries):

  • Classic – minimum  £500 deposit
  • Platinum – minimum £200,000 deposit
  • VIP – minimum £1,000,000 deposit

With Platinum and VIP accounts, you can enjoy more favorable pricing structures and have your own dedicated contact person.

If you are from the UK, you can open tax-efficient ISA/SIPP accounts as well.

Corporate accounts are also available at Saxo.

Deposit and withdrawal

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.

Pros

Cons

 Credit/Debit card available

 Electronic wallets not available for deposit or withdrawal

 Free withdrawal

 

 No deposit fee

 

Account base currencies

At Saxo Markets, you can choose from 26 base currencies. You can also open several sub-accounts in different currencies - a great option if you plan to trade assets in more than one currency.

Saxo Markets account base currencies

AED

AUD

CAD

CHF

CNH

CZK

DKK

EUR

GBP

HKD

HUF

ILS

JPY

LTL

MXN

MYR

NOK

NZD

PLN

RON

RUB

SEK

SGD

TRY

USD

ZAR

 

 

This selection is great compared with that of other brokers. Both TradeStation Global and Swissqoute offer fewer currencies. 

Base currencies at Saxo Markets vs similar brokers

 

Saxo Markets

Swissquote

TradeStation Global

Number of base currencies

26

21

22

You can add multiple base currencies to your main account - to add a new one, initiate an automatic sub-account creation in the desired currency. 

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account at a digital bank. Digital banks offer bank accounts in several currencies with great currency exchange rates and free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Saxo Markets charges no deposit fees. To deposit funds, you can make a bank transfer or use credit/debit cards, but electronic wallets are not available.

Saxo Markets deposit options

 

Saxo Markets

Swissquote

TradeStation Global

Bank transfer

Yes

Yes

Yes

Credit/debit card

Yes

Yes

No

Electronic wallets

No

No

No

Credit/debit card withdrawal is not available in some countries, check Saxo Markets’s website for a complete list.

To test the deposit process, we sent money from our Revolut account and it arrived instantly. Credit/debit card payment should be instant too, but bank transfers can take several business days.

Please note that you can only deposit money from accounts that are in your name.

 Deposit and withdrawal - Deposit

Saxo Markets withdrawal fees and options

We were delighted to see that withdrawal is free of charge. You can only use bank transfers for withdrawal, similar to Saxo's competitors.

Saxo Markets withdrawal fees and options

 

Saxo Markets

Swissquote

TradeStation Global

Bank transfer

Yes

Yes

Yes

Credit/debit card

No

No

No

Electronic wallets

No

No

No

Withdrawal fee

$0

$10

$0

How long does it take to withdraw money from Saxo Markets? We tested withdrawal via bank transfer and it took 1 business day. You can only withdraw money to accounts in your name.Bottom of Form

Trading platforms

Web trading platform

Saxo Markets's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.

Pros

Cons

 User-friendly

None

 Clear fee report

 

 Two-step (safer) login

 

Saxo Markets platforms to choose from

Trading platform

Score

Available

Web

5.0stars

Yes

Mobile

5.0stars

Yes

Desktop

5.0stars

Yes

Saxo Markets's web trading platform is called SaxoTraderGO, its desktop trading platform runs under the name of SaxoTraderPRO. Both are developed by Saxo. However, you can also use other, third-party platforms for trading or managing your portfolio.

Third party tools at Saxo Markets

Tool

Tool features

Available instruments

OpenAPI for Excel

Portfolio management in Excel

All products

Dynamic Trend

Stock and options analysis

US stocks and stock options

Tradingview

Charting tools and social trading

Forex

MultiCharts

Advanced market analysis, backtesting opportunity

Forex, CFDs, stocks, futures and bonds

MetaTrader 4 

MT4 functionality with Saxo execution

Forex

Updata

Expert technical analysis, screening and alerts

Forex, CFDs, stock, futures and bonds

If none of the above platforms suit your needs and you'd like to develop your own interface, you can be an API partner of Saxo.

In this review, we tested SaxoTraderPRO.

The web trading platform is available in an exceptionally large number of languages.

Saxo platform languages

Arabic

Bulgarian

Chinese

Croatian

Czech

Danish

Dutch

English

Estonian

Finnish

French

German

Greek

Hungarian

Italian

Japanese

Latvian

Lithuanian

Norwegian

Polish

Portuguese

Portuguese-Brazil

Romanian

Russian

Slovakian

Slovenian

Spanish

Swedish

Turkish

 

Look and feel

Saxo Trader GO is a great platform; two features we would particularly highlight are its modern design and user-friendliness.

The easily customizable platform meets the needs of both a novice and a professional trader. However, customizability has its limits; for example, you can change the size of various tabs but not their relative positions.

 Web trading platform

Login and security

Saxo Markets has a safer two-step login system, which is optional.

Search functions

Saxo's search functions are great. The search results are relevant and grouped according to asset class. If you search for Apple, the results will show Apple stocks, CFDs as well as options.

There is a drop-down button on the right side of the search box for filtering results. For example, you can narrow down stock search results to specific countries, or filter forex search results for major currency pairs.

 Web platform - Search

Placing orders

You can use many order types and order time limits. 

The selection includes:

  • Market
  • Limit
  • Stop limit 
  • Stop 
  • Trailing stop 
  • One-cancels-the-other (OCO)

If you are not familiar with the basic order types, read this overview.

There are also several order time limits available:

  • Good-till-canceled (GTC) 
  • Day Order
  • One week
  • One month
  • End of week
  • End of month
  • End of Year
  • Good-till-date (GTD)
  • Immediate or cancel (IOC)

We also liked Saxo's fee transparency. When you open the order panel, you will be shown a 'Trade Ticket' that lists a lot of useful information, such as costs or margin requirements.

Saxo Web Web platform - Order panel

Alerts and notifications

You can use a wide range of alerts:

  • Price alert
  • Position closing/opening
  • Portfolio change
  • Margin call, etc.

Platform notifications are available as pop-up messages or in email.

Portfolio and fee reports

Portfolio and fee reports are transparent. You can view and download reports under the 'Account' tab. The historical profit/loss balance and costs paid are clear and easy to track.

VISIT WEB PLATFORM PAGE


Mobile trading platform

Saxo Markets's user-friendly mobile platform has the same look and very similar functionalities as the web platform.

Pros

Cons

 User-friendly

None

 Two-step (safer) login

 

 Good search function

 

Saxo Markets's mobile trading platform has both iOS and Android versionsIn this review, we tested it on Android.

The platform is available in the same languages and has the same search functions, order types and alerts as the web trading platform. It provides a two-step authentication.

The platform's user-friendliness falls short of the web trading platform. We liked the modern design but were slightly disappointed by the confusing menu structure, which sometimes made it difficult to find what we were looking for.

Saxo Markets Mobile trading platform

Desktop trading platform

Saxo Markets's desktop trading platform is one of the best on the market. It is well designed, easy to use and offers great customizability.

Pros

Cons

 User-friendly

None

 Clear fee report

 

 Good customizability (for charts, workspace)

 

Saxo's desktop trading platform, SaxoTraderPRO looks similar to its web-based equivalent.

At the same time, true to the 'PRO' tag, the desktop version offers more advanced customizability. You can run up to six windows simultaneously and create your own trading environment. Each window is customizable in size and position.

 Desktop trading platform

Markets and products

Saxo Markets's product portfolio covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where the selection could be improved.

Saxo Markets asset classes

 

Saxo Markets

Swissquote

TradeStation Global

Stock

Yes

Yes

Yes

ETF

Yes

Yes

Yes

Forex

Yes

Yes

Yes

Fund

Yes

Yes

Yes

Bond

Yes

Yes

Yes

Options

Yes

Yes

Yes

Futures

Yes

Yes

Yes

CFD

Yes

Yes

Yes

Crypto

Yes

Yes

Yes

Saxo Markets has an excellent product portfolio. From stocks to CFDs, you will find everything. 

It has a wide product selection in more complex assets like FX swaps, options, futures or CFDs. Its range of products in more traditional asset classes such as stocks, ETFs or bonds is also competitive, but not the best. Saxo's mutual fund and crypto product lineups lag behind its competitors.  

Stocks and ETFs

Saxo clients have access to a wide range of stock markets. You can trade on major markets, such as US stock exchanges or Deutsche Börse, and on smaller markets like the Prague Stock Exchange or the Warsaw Stock Exchange.

Saxo Markets stock and ETF selection

 

Saxo Markets

Swissquote

TradeStation Global

Stock markets (#)

28

60

78

ETFs (#)

3,100

1,400

13,000

Forex

Saxo has one of the best currency pair selections among all brokers.

Saxo Markets forex selection

 

Saxo Markets

Swissquote

TradeStation Global

Currency pairs (#)

182

80

105

At Saxo Markets, cliens can also trade Forex Swaps (FX Swaps).

Funds

Mutual funds were only recently added to Saxo's product portfolio. They are available only in a few countries, like Germany, Poland or Denmark.

The number of available mutual funds lags behind competitors, especially Swissquote.

Saxo Markets mutual fund selection

 

Saxo Markets

Swissquote

TradeStation Global

Fund providers (#)

17

340

260

Mutual fund issuers covered by Saxo include many well-known names such as BlackRock, Franklin Templeton, Pinebridge or Janus Henderson.

Bonds

Saxo's bond selection is average, similar to Swissquote's and TradeStation Global's.

Saxo Markets bond selection

 

Saxo Markets

Swissquote

TradeStation Global

Bonds (#)

40,000

53,400

60,000

Saxo's product portfolio includes both government and corporate bonds.

Options

The number of options markets available at Saxo is high. You can trade on major stock exchanges such as the CBOE or Euronext, but you will also find lesser-known ones like the SEHK.

Saxo Markets options selection

 

Saxo Markets

Swissquote

TradeStation Global

Options markets (#)

23

6

33

You can trade options on stock, forex and contracts.

Futures

Similarly to options, Saxo Markets covers a lot of futures markets. 

Saxo Markets futures selection

 

Saxo Markets

Swissquote

TradeStation Global

Futures markets (#)

23

6

32

With Saxo Markets, you can trade futures on the following underlying asset types: commodity, stock, index, bond and currency.

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Saxo Markets has a well-developed CFD spectrum including stock, ETF, index-tracking, commodity, forex, bond and index option CFDs. The total number of these assets exceeds that of competitors.

Saxo Markets CFD selection

 

Saxo Markets

Swissquote

TradeStation Global

Stock index CFDs (#)

29

26

13

Stock CFDs (#)

8,800

-

7,100

ETF CFDs (#)

675

-

-

Commodity CFDs (#)

19

12

-

Bond CFDs (#)

5

3

-

Futures CFDs (#)

-

-

-

Cryptos

You can trade Bitcoin and Ethereum through ETN instruments. 

If you want to learn more about crypto trading, check out our article on how to invest in Bitcoin, Bitcoin ETNs, CFDs and futures.

Saxo Markets crypto selection

 

Saxo Markets

Swissquote

TradeStation Global

Cryptos (#)

2

12

2

FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January 2021.

SaxoSelect

SaxoSelect is a mix of mutual funds and a robo-advisory service. It's recommended if you don't want to manage your investments on your own or simply need to gain some confidence in investing.

You can choose from different portfolios and trading strategies based on your risk appetite. The minimum investment usually starts from $20,000 though, and fees range between 0.5% and 1% of the invested amount. The fee is quite high in comparison with robo-advisors

Saxo bank review - Markets and products - Saxo select

Loyalty program

Saxo Markets introduced a Loyalty program, something rather unique among our reviewed brokers. Depending on what asset you trade (and in what volume), you can receive points (ranging from 30 to 110) after each trade. If you earn a certain number of points, you can upgrade to a Platinum or VIP Saxo account. You'd need 120,000 points for a Platinum, and 500,000 for a VIP Saxo account upgrade.

This selection falls behind competing brokers. Both Swissquote and TradeStation Global offer more stock markets to trade on.

Education

If you want to improve your financial knowledge, Saxo Markets has a lot to offer. Beyond the normal trading account, you can use a demo account, attend webinars or watch educational videos.

Pros

Cons

 Demo account

 No educational articles

 Trading platform tutorial

 

 Educational videos

 

At Saxo Markets you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Webinars

You can use a demo account to familiarize yourself with the platform. We think it is the best way to learn how Saxo's trading platform works.

You can also attend webinars held by Saxo experts or become a “student” at the Saxo Academy, where you can choose from tons of online educational videos. The quality of these videos is outstanding.

 Education

Saxo Markets is regulated by several financial authorities, including the top-tier FCA. It is a fully-licensed bank and provides negative balance protection. However, it is not listed on any stock exchange.

Pros

Cons

 Majority of clients belong to a top-tier financial authority

 Not listed on stock exchange

 Banking background

 

 Negative balance protection for EU (+some MENA) customers

 

Is Saxo Markets regulated?

Yes, it is regulated by several financial authorities, like the Danish Financial Services Agency (FSA), the Financial Conduct Authority (FCA) and the Swiss Federal Banking Commission, among others.

Saxo Markets is based in Denmark and was founded in 1992.

Is Saxo Markets safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Saxo Markets operates globally through ~10 different entities. This matters because the amount of protection you're eligible for differs from entity to entity.

Saxo Markets legal entities

Country of clients 

Protection Amount

Regulator

Legal Entity

Most European countries

€100,000 for cash, €20,000 for securities

Danish FSA

Saxo Markets A/S

UK

£85,000 

Financial Conduct Authority (FCA)

Saxo Markets UK

France

€100,000

Bank of France

Saxo Banque (FR) SAS

Switzerland

CHF 100,000

Swiss Federal Banking Commission

Saxo Markets (SW) AG

Italy

€100,000

Commissione Nazionale per le Società e la Borsa (CONSOB)

BG Saxo

Singapore

No protection

Monetary Authority of Singapore. Co.

Saxo Markets Pte Ltd

Japan

No protection

Japanese Financial Services Agency

Saxo Markets FX K.K.

Hong Kong

No protection

Securities and Futures Commission in Hong Kong

Saxo Markets HK.

Australia

No protection

Australian Securities and Investments Commission (ASIC)

Saxo Markets (AU) Pty. Ltd

Saxo Markets provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union and some other countries from the MENA region. Professional clients are not covered by negative balance protection.

Author of this article

Dan Sallai

Author of this article

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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