Saxo Bank review
Trust 9.4/10Established Danish investment bank offering one of the broadest product ranges in retail trading: forex, CFDs, stocks, ETFs, bonds, futures, and options across 50+ markets. Multi-regulated under FINMA, FCA, ASIC, MAS, JFSA. Premium platform (SaxoTraderGO/PRO) suits experienced and institutional traders.
DFSA
FCA
ASIC
MAS
JFSA
FINMA
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Important Notice
2025 was a difficult regulatory year for Saxo. Danish FSA imposed an approximately USD 46M AML fine in January 2025 (white-label oversight 2021-2023), AMF France issued a EUR 300,000 fine in July 2025, and Hong Kong SFC issued a USD 4M fine. In February 2025, Saxo agreed to sell 80.1% of Saxo Australia to DMA (Johannesburg fintech). Existing AU clients should verify their current entity. Saxo Bank itself remains operating across its other regulated entities.
At a glance
Min deposit
$0.00
Max leverage
1:200
EUR/USD spread
0.40 pips
Commission
$0.00/lot
Pros
- Bank-level regulation (Danish FSA)
- Premium proprietary platforms
- 70,000+ instruments
- Tier-1 institutional liquidity
- Award-winning research
Cons
- No MetaTrader/cTrader
- Higher spreads than ECN brokers
- Premium pricing tiers
- Steep learning curve
Account types
| Account | Available | Best for |
|---|---|---|
| Raw / ECN spread | Scalpers, algo traders, high-volume | |
| Standard | All-in spreads, simpler costs | |
| Swap-free / Islamic | Swing traders, religious requirements |
Platform support
| Platform | Supported |
|---|---|
| cTrader | |
| MetaTrader 4 | |
| MetaTrader 5 | |
| TradingView | |
| Proprietary |
Trading costs
| Item | Value |
|---|---|
| EUR/USD avg spread | 0.40 pips |
| Commission per standard lot | $0.00 round-trip |
| Swap fees competitive? | |
| Withdrawal speed | — |
| Deposit methods | — |
| Base currencies | — |
Best for
Sophisticated traders
Multi-asset investors
High-net-worth clients