Saxo Bank review
Saxo Bank is a Danish investment bank offering multi-asset trading and investing: stocks, ETFs, bonds, futures, listed options, forex and CFDs, through its SaxoTrader and SaxoInvestor platforms. Unlike flat-fee CFD brokers, Saxo operates as a licensed bank in Denmark, holds an additional banking licence in Switzerland, and runs locally regulated entities in the UK, Australia, Singapore, Japan, Hong Kong, the Netherlands and Dubai. In March 2026, J. Safra Sarasin Group completed a roughly 71% buyout of Saxo, buying out stakes held by Geely Financials Denmark A/S, Mandatum Group and other minority investors, and ending founder Kim Fournais's majority stake. Daniel Belfer was installed as CEO. The Danish FSA separately fined Saxo DKK 313 million in January 2026 over anti-money-laundering control weaknesses in its white-label business.
Saxo Bank key facts
- Website: www.home.saxo
- Category: CFD & multi-asset broker
- Founded: 1992
- Headquarters: Copenhagen, Denmark
- Ownership: J. Safra Sarasin Group, ~71% stake
- CEO: Daniel Belfer
- Regulation: Danish FSA, FCA, FINMA, ASIC and more
- Client assets: EUR 115bn+
- Clients: 1.5 million+
- CEO: Kim Fournais
- FYI Score: 92.6/100 (ranked #16 of the 136 CFD brokers we track)
Regulation & licences
- Danish FSA regulates the parent, Saxo Bank A/S (banking licence 1149), giving Saxo a full EU banking licence rather than a standard investment-firm licence.
- Additional entities are locally regulated in Switzerland (FINMA, full banking licence), the UK (FCA), Australia (ASIC), the Netherlands (AFM), Hong Kong (SFC) and Dubai (DFSA), among other jurisdictions.
- In March 2026, J. Safra Sarasin Group completed its acquisition of roughly 71% of Saxo Bank, buying out Geely Financials Denmark A/S, Mandatum Group and other minority investors; the change of control required sign-off from FINMA and the Danish FSA.
- In January 2026 the Danish FSA fined Saxo DKK 313 million (~$49.7m) for failing to properly monitor and document white-label client relationships between 2021 and 2023; regulators said no actual laundering was identified but controls were systemically weak.
Spreads & fees
- Three pricing tiers: Classic (no minimum deposit), Platinum ($200k+), and VIP ($1m+), with average EUR/USD spreads of roughly 1.0 / 0.9 / 0.8 pips respectively.
- No commission on FX trades, but a $3 per-side ticket fee applies to accounts trading under 50,000 units of monthly volume.
- Stock commissions start from EUR 2 on Euronext or USD 1 on US exchanges; bond commissions from EUR 20; listed stock options from EUR 0.75 per contract.
- No platform or inactivity fees, and no stated minimum deposit to open a Classic account.
Platforms & tools
- SaxoTrader: the full-featured platform (web, desktop, mobile) with margin trading, charting and advanced order types, replacing the older SaxoTraderGO/SaxoTraderPRO split with one unified product.
- SaxoInvestor: a simplified buy-and-hold interface for stocks, ETFs, funds and bonds, sharing a single login with SaxoTrader.
- TradingView charting integration plus OpenAPI and FIX API access for institutional and white-label connectivity.
- A 20-day demo account with USD 100,000 in simulated funds.
Markets & instruments
- Saxo advertises access to over 71,000 tradeable symbols: stocks and ETFs across EU, US and Asian exchanges, around 190 FX pairs, and bonds (33,000+ available by phone).
- Listed futures and options are available alongside CFDs on forex, indices, commodities and stocks.
- Crypto exposure is derivatives-only; Saxo does not offer direct spot crypto custody.
- Research depth and order-type sophistication are positioned toward active and professional investors rather than beginners.
Account types
- Individual, joint and corporate account structures, plus a Professional client status for traders who qualify for higher leverage and reduced retail protections.
- Classic/Platinum/VIP tiering is based on deposited assets and affects spreads, dedicated support and research access rather than gating basic functionality.
- No separate Islamic/swap-free account type is advertised on the retail site.
Markets
[object Object], [object Object], [object Object], [object Object], [object Object], [object Object]
Platforms
SaxoTrader, SaxoInvestor, TradingView (integration)
Who Saxo Bank is for
Suits an active or professional investor who wants one account for global stocks, bonds, futures and CFDs and is prepared to hold a larger balance to reach the best pricing tier. It's a less natural fit for a small, cost-sensitive retail FX trader than a broker built specifically around tight forex spreads.
Pros
- Bank-grade regulation and balance sheet: a full EU banking licence (Danish FSA) plus a banking licence in Switzerland, unusual among multi-asset/CFD brokers.
- Very broad market access (70,000+ instruments) aimed at active and professional traders, not just retail CFD flow.
- Institutional-grade research and platform tooling, recognised by third-party reviewers with awards such as #1 Desktop Platform and #1 Research in 2026.
- No inactivity or platform fees, and the Classic tier now has no minimum deposit.
Cons
- The best pricing requires size: Platinum needs $200k and VIP needs $1m, so Classic-tier spreads (~1.0 pip EUR/USD) aren't especially competitive against dedicated FX brokers.
- Fined DKK 313 million by the Danish FSA in January 2026 for AML control weaknesses in its white-label business between 2021 and 2023.
- Ownership and leadership just changed: J. Safra Sarasin completed a 71% buyout and installed a new CEO in March 2026, adding a period of organisational transition.
- Fee schedule is complex, varying by account tier, asset class and exchange, which takes more work to compare than a single flat-spread CFD broker.
Saxo Bank FAQ
Is Saxo Bank regulated?
Yes. The parent, Saxo Bank A/S, is a licensed bank supervised by the Danish FSA. Saxo also holds a banking licence in Switzerland (FINMA) and runs locally regulated entities in the UK (FCA), Australia (ASIC), the Netherlands (AFM), Hong Kong (SFC), Dubai (DFSA) and other jurisdictions, each covering its own local clients and products.
Who owns Saxo Bank?
J. Safra Sarasin Group completed the acquisition of roughly 71% of Saxo Bank in March 2026, buying out stakes held by Geely Financials Denmark A/S, Mandatum Group and other minority investors. Founder Kim Fournais moved from CEO to Chairman of the Board; Daniel Belfer, previously CEO of Bank J. Safra Sarasin, was appointed Saxo's new CEO.
What platforms does Saxo offer?
SaxoTrader, an advanced platform with the full product range and margin trading, and SaxoInvestor, a simplified interface for long-term stock, ETF, fund and bond investing. Both share one login, and TradingView charting is integrated alongside OpenAPI/FIX access for automated or institutional connectivity.
Has Saxo Bank had regulatory problems?
In January 2026 the Danish FSA fined Saxo DKK 313 million (about $49.7m) over anti-money-laundering control weaknesses affecting its white-label client business between 2021 and 2023. Regulators said no actual laundering was identified, but found the ongoing monitoring and due-diligence controls were systemically deficient.
Compare Saxo Bank with other CFD brokers
See all CFD brokers ranked by FYI →
Home · CFD Brokers · Brokers · Crypto · Prop firms · Prediction markets · Media · Influencers · Solutions