Saxo Bank Review 2025

Pros

• A reputable and strictly regulated brand from Switzerland.
• A top-tier research center providing market analysis and unique insights, including 'Outrageous Predictions' for traders.
• High-quality learning materials like podcasts, webinars, and expert videos are available for traders.
• Premium account levels offer lower trading fees.
• Sophisticated proprietary trading platforms with extensive charting options and advanced analytical tools.

Cons

• The trading accounts require substantial funding.
• To view Level 2 pricing, a subscription is necessary.
• Do not accept clients from certain regions, specifically the US and Belgium, for trading activities.

Saxo Bank offers online trading and investment services accessible on any internet-connected device. As a Danish bank, it provides a reliable platform for traders.

Company Details

Located in Copenhagen, Saxo Bank opened its doors in 1992 as a private entity. It’s now a top retail brokerage innovator in Europe and globally. Trading safely with Saxo is ensured by over ten financial regulators, including the UK FCA.

Trading Platform

Saxo Bank shines with a diverse range of instruments and asset classes that span global markets.

The SaxoTrader suite, compatible with Windows, iOS, and Android, offers flexibility on desktops and mobile devices. Its SaxoTrader GO app is perfect for trading on the go.

You’ll find Saxo’s web platform engaging and easy to navigate. A one-step login process ensures quick access.

For added security, Platinum and VIP accounts offer an IP-linked login, which is simple to navigate with an intuitive menu.

Assets / Markets

Saxo Bank offers a well-designed trading platform with a wide range of markets. You can trade in the following:

• Forex
• Bonds
• Equities
• ETFs
• Mutual Funds
• Options
• Futures
• Warrants
• CFDs (Region dependent)
• Cryptos (FX and ETN)
• Commodities

Remember, availability varies by country.

In the forex market, they offer over 100 currency pairs. For crypto traders, you’ll find derivatives on Bitcoin, Litecoin, and Ethereum tied to currencies like USD, EUR, and JPY.

Saxo Bank has more than 5,000 bonds, including 3,400 from developed markets and 1,600 from emerging ones. They offer access to government bonds in over 40 countries, but corporate bonds are limited to 7 nations.

Trading Fees

Saxo Bank has improved its pricing, making trading more cost-effective in 2024. They have significantly lowered their fees, offering reduced trading and non-trading costs.

US stock commissions now start at just 1 USD, while UK stocks begin at 3 GBP. US options are down to 0.75 USD per contract.

Currency conversion charges dropped to 0.25%, applicable to automated conversions, sub-account transfers, and FX options. Futures are priced at 3 USD for Classic accounts, 2 for Platinum, and 1 for VIP accounts.

Forex and metal spreads are appealing, beginning at 0.4 pips. With the removal of inactivity and lower custody fees, casual traders can benefit.

Overall, Saxo’s pricing is competitive, especially for Platinum and VIP accounts with the best rates. However, high minimum deposits of $200,000 and $1,000,000 mean they may not suit beginners.

Leverage

Saxo Bank uses a tiered margin system for trading, offering leverage up to 1:30, similar to other EU brokers. This system efficiently manages risks against political and economic shifts that cause market volatility.

Mobile Apps

The Saxo Bank mobile app mirrors its web platform’s design, making it user-friendly. Although it lacks basic data and Saxo Select, it’s still functional. You can download the Saxo Trader app on Android via Google Play and on Apple devices from the iOS store.

Payment Methods

Saxo Bank offers flexible banking processes with certain limitations. You can make bank transfers in 1 to 5 business days, mainly to a Saxo Danish account for European clients, involving an international transfer. Credit and debit card deposits are instant but come with a 0.5-2.5% fee charged by your card provider. Stock transfers may take longer, depending on your current portfolio holder.

You can withdraw funds to your bank or broker account for free, ensuring the account is in your name.

Minimum Deposit

Minimum deposit amounts differ by location and currency:

• Belgium – 0 EUR
• MENA – 5000 USD
• Hong Kong – 10,000 HKD
• UK – 500 GBP
• France – 300 EUR
• Central Eastern Europe (EU countries) – 2000 EUR
• Central Eastern Europe (non-EU countries) – 10,000 EUR
• Denmark – 0 DKK
• Norway – 0 NOK
• Singapore – 0 SGD
• Switzerland – 2000 CHF
• Australia – 1000 AUD
• Japan – 100,000 JPY

Demo Account

Saxo Bank provides traders an instant demo account to explore the platform and its features. After that, traders can access a full demo account alongside a real account. This setup allows for strategy testing and refinement.

Offers And Promotions

Saxo Bank offers research materials on both web and desktop platforms. Traders can also visit tradingfloor.com for deeper market insights. You’ll find equity research, news, strategist opinions, trade signals, and a macro events calendar.

Bonus

Saxo Bank doesn’t offer bonuses, but their competitive spreads make up for it. This is crucial for forex since it uses commission-based trading. Saxo Bank’s trading costs are average compared to other brokers. Bonuses aren’t offered because they can lead to excessive trading and are discouraged by regulators.

Regulation And Licensing

Saxo Bank is a reputable brokerage in Europe, regulated by over 10 financial authorities worldwide. Here’s a quick look at their licenses:

• Saxo Capital Markets UK Limited is regulated by the Financial Conduct Authority (Ref: 551422).
• BG SAXO Italy is licensed by the Italian Market Authority – Consob (SIM Reg. No: 296).
• Czech Republic operations are registered with the Czech National Bank (Reg. No: 28949587).
• Netherlands branch is registered with the Bank of the Netherlands (Reg. No: 34357130).
• In Singapore, Saxo Capital Markets holds a Capital Market Services license (Co. Reg. No: 200601141M).
• Saxo Bank (Switzerland) is regulated by FINMA (UID: CHE-106.787.764).
• France’s Saxo Banque is a licensed Credit Institution by the Bank of France (Reg. No: 483632501 R.C.S. Paris).
• Saxo Bank A/S is licensed by Denmark’s Financial Supervisory Authority.
• In the UAE, Saxo Bank operates with a Central Bank-issued representative office license.
• Japan’s Saxo Bank Securities Ltd. is licensed by the Japanese Financial Services Agency (Reg. No: 239).
• Hong Kong’s Saxo Capital Markets has a license from the Securities and Futures Commission (Reg. No: 1395901).
• Saxo Capital Markets Australia is regulated by ASIC (Reg. No: 126 373 859).

Additional Features

Saxo Bank shines in educating traders eager to learn. Their platform offers webinars led by experts on various asset classes. Alternatively, the Saxo Academy allows learners to explore countless online tutorials.

Account Types

Saxo offers three types of accounts: Classic, Platinum, and VIP. The funding required differs for each. The Classic account needs a standard minimum deposit, which varies by country. Platinum requires at least $200,000, while the VIP account needs a minimum of $1,000,000. Platinum and VIP members enjoy advanced customer service, IP-secured logins, and tighter spreads.

Trading Hours

Saxo Bank’s platform is open for trading 24 hours a day, six days a week. Various currency pairs have specific trading hours. For example, RON trades from 08:15 – 17:00 CET, ILS from 07:00 – 17:00 CET, SAR & AED from 07:00 – 15:00 CET, and RUB from 07:00 GMT – 19:00 GMT.

Contact Details & Customer Support

• Reception and fax details change by country. Visit the Contact Us section on the broker’s website.
• Website: https://www.home.saxo/

Safety & Security

Saxo Bank excels in security with its web-based platform. It requires crucial documents like an ID, passport, or driver’s license to open an account. Login steps for Platinum and VIP accounts are enhanced with an IP address link, ensuring data protection.

Saxo Bank Verdict

Saxo Bank excels as a brokerage with its robust trading platform. Its research and customer service teams are ready to help traders anytime. The bank offers a wide range of asset classes and access to international markets, attracting committed traders. Although it requires high minimum trading fees, the service quality is impressive, establishing its status globally.

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