Saxo Bank

Written by How we review

Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a professional user experience.
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Key facts

10/10
Our rating
#4
Trust rank
1992
Founded
18
Licences
42
Countries accepted
HeadquartersDenmark
Broker typeDMA, STP
RegulationASIC; DFSA; FCA; FINMA; MAS; SFC
PlatformsProprietary, TradingView
InstrumentsCommodities, Cryptocurrencies, Forex, Indices, Metals
Fee levellow

Updated

Pros

  • • Proprietary pro-grade platforms (SaxoTraderGO/PRO)
  • • Deep liquidity aggregation; competitive FX spreads
  • • Wide FX product suite: spot, forwards, swaps, options
  • • DFSA-regulated bank; segregated client funds
  • • OpenAPI/FIX access for algorithmic trading

    • Cons

  • • - No MetaTrader (MT4/MT5) support
  • • - Higher spreads/commissions for Classic-tier accounts
  • • - Best pricing/features require high balances (Platinum/VIP)
  • • - Not available to U.S. residents
  • • - Netting-only FX positions (no true hedging)

    • Key Features

  • • Multi asset trading across forex cfds futures options stocks and bonds
  • • Tier one regulation and banking license with segregated client funds and two factor authentication
  • • SaxoTraderGO and SaxoTraderPRO platforms with advanced charting and depth of book
  • • Forex spot forwards and vanilla options with multi source aggregated liquidity
  • • OpenAPI and FIX connectivity for algorithmic trading and platform integration
  • • Volume based pricing tiers classic platinum and vip with reduced costs for high volume

    • Similar Brokers

    Where This Broker Ranks

    How we review: We rate brokers on regulation, safety of client funds, trading costs, platforms and tools, execution, and reputation, using independent research and hands-on platform testing where possible. Partners cannot buy higher scores. This content is informational only, not investment advice.

    See our Methodology and Risk Disclosure for full details.

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    Frequently Asked Questions

    Yes. the broker Bank operates under banking and investment firm licenses in several regions. Your account is opened with a specific local entity. Client money is handled under local rules and may be kept in segregated accounts. You use secure sign‐in and encryption. Retail clients in some regions receive negative balance protection. Terms differ by country, account type, and classification. You should review the legal documents and disclosures for your entity before you fund. This is general information only.

    You can trade on an in‐house web platform, a downloadable desktop platform, and native mobile apps. The layout is clean and fast, with watchlists, charting, and depth features. You get advanced orders, custom workspaces, and synchronized settings across devices. There is also an API for automation and data access if you code. Platform access and features can vary by account tier and region. Try a practice account to learn the workflow before you trade real funds. This is not advice.

    You pay costs through the spread, commissions on some products, and financing on leveraged positions held overnight. Currency conversion may apply if you trade or settle in a different currency. Deposits and withdrawals can have third‐party fees. Pricing depends on market conditions, the account tier you hold, and the specific instrument. You can view live quotes and a detailed pricing schedule in your account portal. Make sure you read the rate cards and terms so you know what you pay before you place an order.

    You fund your account by bank transfer and, in many regions, by card. Your name on the payment method must match your account name. Processing times and costs depend on your bank and region. Withdrawals go to a verified bank account in your name. You choose a base currency when you set up the account. If you move money in a different currency, conversion applies at the broker's rate. You can track status in the account portal and contact support if you need help.

    You can place market, limit, stop, and trailing stop orders. You can create conditional orders and link orders to manage entry and exit. The platform supports alerts, margin monitoring, and account‐level controls. Slippage and price gaps can occur, especially in fast markets or outside regular hours. Some clients receive negative balance protection based on local rules. You should understand how orders fill, how margin works, and how financing applies before you trade. Use the demo and help center to learn the mechanics.

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