SaxoBank Review 2026

Item: Saxo Bank
Rating: 7.12
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: June 02, 2026

Top Brokers Overview — United States

Visit the site anyway

Min. deposit $0
Fees 6 /10
Account types 7.3 /10
Regulation 10 /10

7.1 /10

Reliable

Saxo Bank User Reviews 7.5
Commissions and Fees 6.0
Regulation and Safety 10.0
Account Types 7.3
Deposit and Withdrawal 5.0
Markets and Tradable Assets 10.0
Trading Account Opening 8.0
Trading platforms & tools 7.4
Mobile Apps 8.0
Customer Support 5.5

Saxo Bank Pros & Cons

favorable trading terms for professional traders with at least 1 year of experience;
over 71 thousand instruments for trading;
the opportunity to invest in ready-to-use long-term portfolios managed by professionals.

Cent accounts are not available.
You can trade through proprietary platforms; access to the MT4 and MT5 terminals is not provided;
a ban on algorithmic trading for traders from abroad;
you cannot contact support in the online chat on the company's website.

TU Expert Verdict

Saxo Bank is a reliable and well-established choice. I’ve reviewed its features, tested its services, and found that traders generally report positive results. It offers stable performance, dependable execution, and overall solid quality for everyday trading.

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Saxo Bank User Reviews

Score:

7.5 /10

115 total

5-star

30%
4-star

21%
3-star

47%
2-star

3%
1-star

0%

456 users picked this broker

epaphroditus onesimus

PRO

1 year ago

Saxo's customer service is pretty solid.

I have not seen weaknesses yet

Saxo's customer service is pretty solid. I had an issue with verifying my account during the sign-up process, but the support team was quick to respond through live chat, and everything was resolved in less than a day. The two-step login feature makes me feel more secure, especially since I trade with higher volumes. Plus, having access to their news feed and analysis directly on the platform helps me stay up to date without needing external sources.

Gloria

PRO

1 year ago

Great customer service.

No cons.

What stands out to me about Saxo Bank is their customer service. The team really goes out of their way to explain things, and when I was setting up my account, they were super helpful. The platform itself is pretty slick, with a ton of customization options, which is great for someone like me who likes things a certain way. But, if you’re new to trading, it can feel a bit overwhelming. The interface has a learning curve, and I had to spend time getting used to all the features. Once you’ve navigated that, it’s clear how powerful the tools are. One thing I noticed is the execution speed, my trades go through fast, which is a big plus, especially when markets are moving quickly. I also like that I can easily access my account across different devices without any lag.

Mirsadik Rasulzade

PRO

1 year ago

I appreciate the flexibility of their accounts.

No weaknesses

What really stands out for me with Saxo Bank is their range of products. I'm not just trading stocks or forex, I can easily switch between commodities, CFDs, and even crypto. I also appreciate the flexibility of their accounts. I started with the Classic account, and upgrading to Platinum later on gave me access to lower fees, which was a nice bonus. The trading tools, like live market insights and Autochartist signals, make decision-making so much easier. The fees could be better for smaller trades, though, but overall it's been a positive experience.

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Commissions and Fees

Score:

6 /10

The trading and non-trading commissions of Saxo Bank have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, ZForex and OANDA, to provide the most comprehensive information.

Low Forex trading fees
No inactivity fee
No deposit fee
No withdrawal fee

No ECN/Raw Spread account

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of Saxo Bank with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, Saxo Bank’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

Saxo Bank Standard spreads
	Saxo Bank	ZForex	OANDA
EUR/USD min, pips	0.2	0.1	0.1
EUR/USD max, pips	0.9	0.4	0.5
GPB/USD min, pips	0.5	0.2	0.1
GPB/USD max, pips	1.0	0.6	0.5

Does Saxo Bank support RAW/ECN accounts?

As we discovered, Saxo Bank does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with Saxo Bank. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

Saxo Bank Non-Trading Fees
	Saxo Bank	ZForex	OANDA
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	0	0	0-15
Inactivity fee ($, per month)	0	0	0

Is Saxo Bank Safe?

Score:

10 /10

Saxo Bank has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Tier-1 regulated
Negative balance protection
Regulated in the UK
Track record over 34 years

Strict requirements and extensive documentation to open an account

Saxo Bank Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
FCA UK	Full Name Financial Conduct Authority	Country of regulation United Kingdom	Investor Protection Fund Up to £85,000	Regulation Level Tier-1
ASIC	Full Name Australian Securities and Investments Commission	Country of regulation Australia	Investor Protection Fund No specific fund but has stringent consumer protection	Regulation Level Tier-1
JFSA	Full Name Japan Financial Services Agency	Country of regulation Japan	Investor Protection Fund No specific fund	Regulation Level Tier-1
FINMA	Full Name Swiss Financial Market Supervisory Authority	Country of regulation Switzerland	Investor Protection Fund CHF 100,000	Regulation Level Tier-1
MAS	Full Name Monetary Authority of Singapore	Country of regulation Singapore	Investor Protection Fund No specific fund	Regulation Level Tier-1
SFC HK	Full Name Securities and Futures Commission of Hong Kong	Country of regulation Hong Kong	Investor Protection Fund No specific fund	Regulation Level Tier-1
Abbreviation FSA (Denmark)	Full Name Danish Financial Supervisory Authority	Country of regulation Denmark	Investor Protection Fund Up to €20,000	Regulation Level Tier-1
Abbreviation CONSOB (Italy)	Full Name Commissione Nazionale per le Società e la Borsa	Country of regulation Italy	Investor Protection Fund Up to €20,000	Regulation Level Tier-1

Saxo Bank Security Factors
Foundation date	1992
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

7.3 /10

Saxo Bank offers the following account options: Demo, Standard, VIP.

However, Saxo Bank does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.

Exclusive VIP account with enhanced trading conditions
Demo account
Standard account with balanced trading conditions

Micro lots are not available
No ECN/Raw spread account

Saxo Bank account types vs top competitors
	Saxo Bank	Trading.com	ZForex
Standard	Yes	Yes	Yes
ECN/Raw spread	No	No	Yes
Demo	Yes	Yes	Yes
Cent	No	No	No
Micro	No	No	No
Swap Free	No	No	Yes
VIP	Yes	No	No
Managed	No	No	No

Saxo Bank accounts trading conditions

SaxoBank offers a choice of several types of accounts, the terms of which are designed for professional traders. They differ in the minimum deposit, the spread size, and additional options.

Types of accounts:

Account Type	Description
Classic	The Classic account is the most popular account among the broker's clients with a deposit of 1 EUR and spreads from 1.2 pips. Maximum leverage is 1:30.
Platinum	is an account for professional trading with a spread starting from 0.7 pips. It is available when replenishing the balance with $200 thousand and more. Priority support is in the customer's language.
VIP	is a premium account with a deposit of $1 million and more and spreads from 0.7 pips. One-on-one access to SaxoStrats experts and a personal manager originates the account holder’s country of residence; invitations to exclusive company events.
Professional	is an account for traders with at least 1 year of experience in financial markets. It is available for opening when depositing 500,000 euros to an account and making 10 transactions with large amounts during the last four quarters. A significant transaction size is considered to be 100,000 euros (for Forex), 50,000 euros (for indices), 10,000 euros (for CFDs on individual stocks). Leverage shall be up to 1:66 (for Forex instruments), and spread from 0.4 pips.

All the terms described are valid for new customers. The terms shall be reviewed individually after three months of trading. A demo-account is available.

SaxoBank is an international broker focused on working with professional traders with capital reserves of $2 000 or more.

Saxo Bank members area

Deposit and Withdrawal

Score:

5 /10

Saxo Bank received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

Saxo Bank provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

No deposit fee
Bank wire transfers available
Minimum deposit below industry average
Bank card deposits and withdrawals

USDT payments not accepted
Limited deposit and withdrawal flexibility, leading to higher costs
Wise not supported

What are Saxo Bank deposit and withdrawal options?

Saxo Bank provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire.

Saxo Bank Deposit and Withdrawal Methods vs Competitors
	Saxo Bank	Trading.com	ZForex
Bank Wire	Yes	Yes	No
Bank card	Yes	Yes	Yes
PayPal	No	No	No
Wise	No	No	No
BTC	No	No	Yes

What are Saxo Bank base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Saxo Bank supports the following base account currencies: USD, EUR.

What are Saxo Bank's minimum deposit and withdrawal amounts?

The minimum deposit on Saxo Bank is $0, while the minimum withdrawal amount is $1000. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Saxo Bank’s support team.

Markets and Tradable Assets

Score:

10 /10

Saxo Bank offers a wider selection of trading assets than the market average, with over 71000 tradable assets available, including 190 currency pairs.

Indices trading
Commodity futures are available
Crypto trading

Regional restrictions are possible

Supported markets vs top competitors

We have compared the range of assets and markets supported by Saxo Bank with its competitors, making it easier for you to find the perfect fit.

	Saxo Bank	Trading.com	ZForex
Currency pairs	190	69	50
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	71000	69	80
Stocks	Yes	No	Yes
Commodity futures	Yes	No	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	Yes	No	Yes
Stock indices	Yes	No	No
Options	Yes	No	No

Investment options

We also explored the trading assets and products Saxo Bank offers for beginner traders and investors who prefer not to engage in active trading.

	Saxo Bank	Trading.com	ZForex
Bonds	Yes	No	No
ETFs	Yes	No	No
Copy trading	Yes	No	Yes
PAMM investing	Yes	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

8 /10

We successfully registered an account with Saxo Bank in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Saxo Bank is $0.

This is one of the most accessible and hassle-free onboarding procedures on the market.

Fully online account opening process
Low minimum deposit requirement

Registration process may take longer than expected
Account approval may require extra time depending on the documentation.

Saxo Bank account opening
	Saxo Bank	Trading.com	ZForex
Online Registration	Yes	Yes	Yes
Minimum deposit	$0	$50	$10
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	20	20	8
KYC time (days)	2	2	1

Is Saxo Bank available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

Follow these instructions to start making money with SaxoBank:

Go to the official website of the company and click "Open an account" on the main page.
Indicate the name, surname, email address, country, and phone number. Come up with a strong password in the registration form. Enter the info in Latin characters. Provide personal information and upload documents confirming your identity and place of residence to complete the registration. The system will automatically check the uploaded images for compliance. Next, select the account currency from the drop-down list. After that, go through authorization via your phone number.
The following is available in the SaxoBank personal account:
- Replenishment, transfer, and withdrawal of funds..
- View the active operations log..

Also, in the user's personal account you can:

choose a portfolio for investment;
view the trading terms for a specific instrument;
learn more about upcoming changes in the margin;
download the trading terminal and useful applications for work;
contact technical support specialists.

Trading platforms & tools

Score:

7.4 /10

Saxo Bank received a score of 7.4/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.

Proprietary platform with unique features
Trade directly from TradingView
One-click trading
Trading bots (EAs) allowed

No access to Free VPS
No access to MetaTrader
Strategy (EA) Builder is not available

Supported trading platforms

Saxo Bank supports the following trading platforms: TradingView, Proprietary platform. This selection covers the basic needs of most retail traders. We also compared Saxo Bank’s platform availability with that of top competitors to assess its relative market position.

	Saxo Bank	Trading.com	ZForex
MT4	No	No	No
MT5	No	Yes	Yes
cTrader	No	No	No
TradingView	Yes	Yes	No
Proprietary platform	Yes	Yes	No
NinjaTrader	No	No	No
WebTrader	No	Yes	No

Key Saxo Bank’s trading platform features

We also evaluated whether Saxo Bank offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.

Supported features
2FA	Yes
Alerts	Yes
Trading bots (EAs)	Yes
One-click trading	Yes
Scalping	Yes
Supported indicators	62
Tradable assets	71000

Additional trading tools

Saxo Bank offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.

Saxo Bank trading tools vs competitors
	Saxo Bank	Trading.com	ZForex
Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making.	No	Yes	No
API	Yes	No	No
Free VPS	No	No	Yes
Strategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills.	No	No	No
Autochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels.	Yes	No	No

Mobile Apps

Score:

8 /10

Saxo Bank supports mobile trading, offering dedicated apps for both iOS and Android. Saxo Bank received 8/10 in this section, reflecting strong user engagement and well-developed functionality. High ratings, solid download numbers, and the presence of advanced mobile features contributed to the high score.

Strong Android user ratings, currently at 4.2/5
Mobile alerts supported
Supports mobile 2FA

Fewer charting tools

We compared Saxo Bank with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.

	Saxo Bank	Trading.com	Plus500
Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms.	100,000	50,000	10,000,000
App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience.	4.4	4.8	4.7
Google Play score	4.2	4.7	4.4
Mob. 2FA	Yes	Yes	Yes
Mob. Indicators	Yes	Yes	Yes
Mob. Alerts	Yes	Yes	Yes

Customer Support

Score:

5.5 /10

Customer support at Saxo Bank is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.

During testing, response times were moderate, and communication depended on the complexity of the request. Saxo Bank provides basic support functionality but does not stand out in overall service performance.

Information

The broker's support service is available 24/5.

Telephone support is available
Multilingual support in the trading platform

Does not work on weekends
Online-chat on the website is not available
No option to send a question via email

There are several ways to contact customer support:

by phone as indicated on the website;
via the "Contact Support" window in the SaxoTraderGO/PRO platforms in your personal account;
in your account;
in Facebook or Twitter messengers;
through your LinkedIn profile.

Support is not available from the broker's website; it is only available through the personal account and trading platforms.

Contacts
Foundation date	1992
Registration address	Philip Heymans Alle 15, 2900 Hellerup, Denmark
Regulation	FCA UK, ASIC, JFSA, FINMA, MAS, SFC HK, FSA (Denmark), CONSOB (Italy)
Official site	home.saxo
Contacts	info@saxobank.com +44 (0)207 151 2000, +45 3977 4000

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FAQs

How is Saxo Bank regulated and what safety measures protect client funds?

Saxo Bank has a safety score of 10/10 and is regulated by multiple Tier-1 authorities, including the FCA (UK), ASIC (Australia), JFSA (Japan), FINMA (Switzerland), MAS (Singapore), SFC HK (Hong Kong), the Danish FSA, and CONSOB (Italy). Investor compensation schemes vary by jurisdiction, with examples such as up to £85,000 under the UK FCA, CHF 100,000 under FINMA, and up to €20,000 under the Danish FSA and CONSOB, and the broker also applies negative balance protection and KYC verification.

What types of trading accounts are available and what are their main conditions?

The review describes several account types: Classic, Platinum, VIP, and Professional, each differing in minimum deposit, spreads, leverage, and additional services. For example, the Classic account has a minimum deposit of 1 EUR, spreads from 1.2 pips, and leverage up to 1:30, while higher-tier accounts such as Platinum, VIP, and Professional require significantly larger deposits and can offer tighter spreads, higher leverage (up to 1:66 for some instruments), and priority or personalized support.

What do user reviews and feedback say about Saxo Bank overall?

Saxo Bank has a user satisfaction score of 7.5/10 based on 115 reviews, with a rating distribution of 30% 5-star, 21% 4-star, 47% 3-star, 3% 2-star, and 0% 1-star. According to user reviews, overall impressions are mixed, indicating a balance of positive and neutral experiences with relatively few very negative ratings reported in this section.

How does the trading account opening process at Saxo Bank work according to user feedback and testing?

The review states that a Saxo Bank account was successfully registered in about 20 minutes, with KYC verification completed within 2 business days and a minimum deposit of $0. The process is fully online and described as accessible, although the section notes that account approval and registration time can vary depending on documentation and may sometimes take longer than expected.

What feedback is available on Saxo Bank customer support availability and contact options?

Customer support at Saxo Bank is available 24/5, with moderate response times that can vary depending on the complexity of the request. The review notes that support can be reached by phone, via the “Contact Support” window in SaxoTraderGO/PRO and the personal account, and through social media channels such as Facebook, Twitter, and LinkedIn, while live chat on the website, email contact, and weekend support are not provided.