Saxo Bank

Name: Saxo Bank review
Item: Saxo Bank
Rating: 4.9
Author: ValidBrokers

Danish bank with 70,000+ instruments and a fully banking license.

FSA-DKFCAASICFINMAMASJFSASFC

4.9/5

1,432 reviews

Founded

1992

Min. deposit

Regulated by

FSA-DK · FCA

Platforms

PROPRIETARY

Saxo Bank homepage — www.home.saxo

Quick take · 30s

Founded 1992 in Copenhagen — fully licensed Danish bank (not just a broker)
70,000+ instruments — the broadest catalog in retail trading
Multi-regulated: FSA Denmark, FCA, ASIC, FINMA, MAS, JFSA, SFC Hong Kong
Proprietary SaxoTraderGO and SaxoTraderPRO platforms

What we liked & What we didn't

What we liked

+Full Danish banking license — capital protection beyond standard broker safeguards
+70,000+ tradable instruments — multiples of nearest competitor
+Premium proprietary platforms (SaxoTraderGO mobile, SaxoTraderPRO desktop)
+Deep access to bonds, futures, and listed options
+Tier-1 regulation across seven major jurisdictions

What we didn't

−Premium pricing — Classic account fees are higher than discount brokers
−Genuine functionality requires Platinum tier ($200,000 effective deposit)
−Steeper learning curve than retail-focused brokers

Overview

Saxo Bank is the broker of choice for traders who want institutional-grade infrastructure with retail accessibility. Founded in 1992 in Copenhagen, Saxo operates with a full Danish banking license — a regulatory category several notches above standard broker licensing. The platform offers more than 70,000 tradable instruments, including markets few competitors carry: corporate bonds, listed options across dozens of exchanges, futures contracts on global commodities, and 23,500+ stocks.

Regulation & safety

Saxo holds banking licenses from the Danish FSA plus subsidiary licenses across the FCA, ASIC, FINMA (Switzerland), MAS (Singapore), JFSA (Japan), SFC (Hong Kong), and several others. The Danish banking license is uniquely strong — Saxo is supervised under EU banking directives rather than just MiFID II investment-firm rules. Client deposits are protected under the Danish Guarantee Fund up to €100,000.

Account types

Three tiers based on funded equity: Classic (default), Platinum (lower spreads, prioritized support), and VIP (institutional pricing, dedicated relationship manager). No formal minimum, but practical entry is several thousand dollars to access the full platform experience.

Fees & spreads

Classic-tier spreads on EUR/USD average around 0.6 pips. Stock CFD commissions start at 0.08% with currency-converted minimums. Platinum tier brings spreads down to ~0.4 pips. Saxo's pricing is premium relative to discount brokers but in line with other tier-1 banks running retail divisions.

Trading platforms

SaxoTraderGO (web + mobile) is the standard retail interface — clean, modern, with advanced charting. SaxoTraderPRO is the desktop platform for serious traders, offering customizable workspaces, multi-monitor support, and direct market access where available. No MT4 or MT5. The platform tradeoff: deeper functionality but steeper learning curve than MetaTrader.

Asset class coverage

The 70,000+ instrument count is real — 23,500+ stocks across 50+ exchanges, 9,000 ETFs, 7,000 bonds, 5,000+ listed options, 200+ futures contracts, 200+ forex pairs, hundreds of CFDs across indices and commodities. Crypto CFDs in select jurisdictions. This depth makes Saxo the broker of choice for multi-asset portfolios that don't fit elsewhere.

Customer support

24/5 multilingual support via phone, email, and live chat. Platinum and VIP clients get dedicated relationship managers. UK and Singapore-based call centers handle most retail traffic.

Verdict

Saxo Bank is the broker for serious multi-asset traders who want the absolute widest instrument catalog and banking-level regulatory protection. The price for that depth is that Saxo isn't a discount broker — Classic spreads are higher than pure-forex peers, and the platform takes more time to master.

If you trade across stocks, options, bonds, and forex in one account, Saxo is one of very few brokers that can serve you. For pure forex scalpers focused on tightest spreads, look elsewhere.