This Saxo Bank review provides an in-depth look at one of the most established and regulated multi-asset brokers in the world. Saxo Bank, based in Denmark, offers institutional-grade trading technology, deep liquidity, and access to over 70,000 instruments through its proprietary SaxoTraderGO and SaxoTraderPRO platforms.

Regulation and Safety

Saxo Bank A/S is authorised and regulated by the Danish Financial Supervisory Authority (DFSA, License No. 1149). It is also passported across the EU and locally regulated via subsidiaries:

• FCA (UK) – Saxo Capital Markets UK Ltd, FRN: 551422
• ASIC (Australia) – Saxo Capital Markets AU Ltd, AFSL: 280372
• SFC (Hong Kong), MAS (Singapore), FINMA (Switzerland)

Client funds are fully segregated in top-tier banks, and eligible clients benefit from investor protection schemes such as FSCS (UK) and the Danish Guarantee Fund. Regular audits, 2FA, and secure data environments are standard.

Execution Model and Trading Platforms

Saxo Bank operates a no-dealing-desk STP model with access to deep liquidity pools. It does not intervene in client order flow and aggregates pricing from multiple Tier-1 institutions.

Trading platforms include:

• SaxoTraderGO – browser and mobile platform for active traders
• SaxoTraderPRO – desktop platform for professional and institutional traders

Both platforms support advanced charting, option chains, algorithmic orders, and multi-screen capabilities. API trading, FIX access, and DMA are also available for institutional clients.

Markets and Instruments

Saxo Bank offers one of the widest asset selections globally with over 70,000 instruments:

• Forex – 180+ pairs including majors, minors, and exotics
• Stocks – 19,000+ global equities from 50+ exchanges
• ETFs – 3,000+ including iShares, Vanguard, SPDR
• Options – exchange-traded on US, EU, and Asian markets
• Futures – CME, EUREX, SGX, and more
• Bonds – Government and corporate bonds via OTC
• CFDs – Indices, commodities, FX, shares
• Cryptos – Indirect access via ETPs and futures (no spot)

Accounts, Spreads and Leverage

Saxo Bank offers a tiered account structure:

• Classic: Min. deposit $2,000, standard spreads
• Platinum: Min. deposit $200,000, up to 30% lower spreads
• VIP: Min. deposit $1,000,000, bespoke pricing & services

Typical spreads:

• EUR/USD: from 0.6 pips (Classic), 0.4 pips (VIP)
• Commission-free for CFDs; stocks incur tiered commissions (e.g., $3–$10)
• Leverage up to 1:30 in the EU, 1:50–1:100 in offshore subsidiaries

Stop-out level: 50%. Professional account upgrade available upon request.

Funding and Base Currencies

Saxo Bank supports accounts in 20+ base currencies including USD, EUR, GBP, CHF, SGD, and HKD. Funding options:

• Bank wire transfer (primary method)
• Local bank transfers in supported regions
• No support for cards or e-wallets

Deposits clear within 1–2 business days. Withdrawals are processed via bank transfer and usually settled within 1–3 business days. No internal fees are charged by Saxo.

Client Protections and Features

Saxo Bank maintains full compliance with global standards:

• Tier-1 regulation in Denmark, UK, Australia, Singapore, and others
• Segregated client funds and negative balance protection
• FSCS (UK) and Danish Guarantee Fund participation
• Encrypted data, biometric login, and regular audits

Saxo also provides risk analytics, portfolio reporting, and integrated tax reports across accounts.

Institutional and Retail Offering

Saxo Bank serves both retail and institutional segments:

• Retail – multi-asset access, competitive pricing, mobile platforms
• Institutional – white-label solutions, FIX API, DMA, custodial services
• Family offices, asset managers, hedge funds supported

The Saxo Institutional platform offers scalable infrastructure for partners and brokers, including front-end customisation and back-office management.

Pros

• Multi-regulated, globally trusted institution
• Access to 70,000+ instruments across all major asset classes
• Advanced platforms: SaxoTraderGO and SaxoTraderPRO
• API and DMA access for professionals
• Institutional-grade risk and compliance systems

Cons

• High minimum deposit for VIP access
• No MT4/MT5 or cTrader support
• No cryptocurrency spot trading
• No funding via cards or e-wallets

Frequently Asked Questions

Is Saxo Bank regulated?

Yes, Saxo Bank is regulated by the Danish FSA and several other Tier-1 regulators including the FCA, ASIC, and MAS.

What platforms does Saxo Bank offer?

Saxo provides SaxoTraderGO for retail users and SaxoTraderPRO for advanced and institutional traders. MT4 and MT5 are not available.

What is the minimum deposit?

The minimum deposit for a Classic account is $2,000. Higher-tier accounts require $200,000 (Platinum) or $1,000,000 (VIP).

Does Saxo Bank offer cryptocurrency trading?

Saxo offers indirect crypto exposure via exchange-traded products and futures, but does not support spot crypto trading.

Can institutional clients use FIX API?

Yes, Saxo offers FIX API, white-label brokerage, and full institutional trading infrastructure.