Saxo Bank provides fully regulated Danish banking infrastructure alongside direct market access across thousands of CFD and cash instruments.
Spreads from
1 pips
Commission
$0 (spread-only)
Min deposit
$5000
Established
1992
Regulated by
Danish FSA · FINMA · Saxo Capital Markets Pte. Ltd. · SFC Hong Kong · JFSA Japan · ASIC
Written byLaverlane Team·Updated5 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
Saxo operates as a fully licensed Danish bank under strict Danish FSA oversight.
Saxo Bank A/S holds a credit institution licence from the Danish FSA, granting it SIFI status within the Danish financial framework. Saxo Capital Markets UK Ltd holds an FCA licence, whereas European clients contract directly with Saxo Bank A/S under Danish FSA supervision.
Key facts
Founded in 1992, Saxo maintains over three decades of financial technology operation.
Client-facing entity
Saxo Bank A/S (Headquarters)
Regulators
Danish FSA, FINMA, Saxo Capital Markets Pte. Ltd., SFC Hong Kong, JFSA Japan, ASIC
Negative-balance protection
Yes
Minimum deposit
$5000
Max leverage (UK/EU retail)
1:30
Max leverage (Australia)
1:30
Max leverage (professional)
Lower margin than retail
Typical EUR/USD spread
1.1 pips
Platforms
Proprietary, TradingView
Account currencies
USD, EUR, GBP, AUD
Established in 1992, Saxo operates with over 30 years of history, which is significantly longer than typical retail CFD brokers. That longevity provides operational stability for high-net-worth investors holding long-term balances.
Best for
Pros & cons
Fund safety
Cash deposits at Saxo Bank A/S are covered by a Danish compensation scheme, up to EUR 100,000.
If Saxo Capital Markets UK Ltd fails, the FSCS may compensate eligible clients for protected investment business, up to £85,000 per person. Cash held for you at a UK bank may also be covered up to £120,000 per person if that bank fails. The FSCS doesn't cover trading losses.
Account terms
Saxo's account terms are published, and it doesn't charge inactivity fees.
Saxo charges no inactivity fees, unlike many brokers that penalise dormant accounts after 12 months. That benefits buy-and-hold investors who maintain low trading frequency without ongoing account erosion.
Costs
Spreads and commissions feature tiered pricing discounts for higher account balances.
Spreads start from 1 pip on Classic accounts, which is in line with what many large brokers charge, so check the current figures before you trade. Active traders holding large positions save on volume, whereas low-volume retail accounts incur standard spreads.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 1.1 | pips |
| GBP/USD | Forex CFD | 1.1 | pips |
| USD/JPY | Forex CFD | 1.2 | pips |
| US 100 (Nasdaq) | Index CFD | 1 | points |
| US 500 (S&P 500) | Index CFD | 0.7 | points |
| XAU/USD (Gold) | Commodity CFD | 0.33 | $ / oz |
| US Crude Oil | Commodity CFD | 0.05 | $ / bbl |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
Product catalogues include cash equities, bonds, ETFs, futures, options and CFDs.
Forex CFD
185 pairs
Index CFD
30 indices
Commodity CFD
Metals, energies, softs
Single-Stock CFD
23000 shares
Real ownership: Stocks / ETFs
Stocks, ETFs
Saxo lists over 70,000 instruments across stocks, ETFs, bonds, futures, options and CFDs, which is a much wider range than many CFD-focused brokers. That vast selection suits multi-asset investors, though beginners may find the choices overwhelming.
Platforms
Proprietary SaxoTraderGO and SaxoTraderPRO platforms deliver professional charting tools.
SaxoTraderGO and SaxoTraderPRO offer advanced charting that goes well beyond a basic web terminal. If you chart a lot, you'll find plenty of depth. If you're new to trading, expect a steeper learning curve.
Execution
Saxo sends your orders to a mix of venues and brokers and follows a published order execution policy, so it's worth reading before you trade.
Direct market access model operates with internal liquidity aggregation standard for tier-1 credit institutions. Saxo's order-driven execution may help limit slippage on larger orders, though fills depend on market liquidity and slippage can still occur at any order size.
Leverage
Your local regulator caps your leverage, so the limit depends on where you live.
Under FCA and ESMA rules, retail leverage is capped at 1:30 on major currency pairs. Lower caps apply to other assets, such as indices, gold, commodities and shares. A leverage cap can slow how quickly losses build, but it doesn't remove the risk, and you can still lose money fast.
Account types
Account levels tier from Classic to Platinum and VIP based on deposit thresholds.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| Classic | $5000 | Spread-only | Standard financing rates | From 1 pips · Variable | Yes | No |
| Platinum | $250000 | Spread-only | Reduced financing rates | From 0.9 pips · Variable | Yes | No |
| VIP | $1250000 | Spread-only | Lowest financing rates | From 0.7 pips · Variable | Yes | No |
Classic accounts require $5,000 minimum deposit, whereas Platinum requires $250,000 for reduced trading costs. High-net-worth clients receive lower pricing, while entry-level traders pay standard pricing tiers.
Funding
Deposits and withdrawals process through bank transfers and payment cards.
Payouts process via standard bank wire within 1 to 2 business days without internal processing fees. Withdrawals go back to a bank account in your own name, so they aren't instant like some e-wallets.
Support
Client assistance is accessible via phone and email across trading hours.
Support runs 24/5 in several languages, so you can reach someone while markets are open. That covers active trading sessions, though weekend traders cannot reach live help desks.
Availability
Saxo takes clients from across Europe, Asia and the Middle East, and the Saxo entity you sign with depends on where you live.
Global traders gain direct access, while residents in restricted regions like the United States cannot open accounts.
Verdict
Saxo Bank is a multi-asset broker operating under direct Danish FSA banking supervision. Saxo is a licensed Danish bank, and its own platforms suit active investors, as long as you're happy with capped retail leverage.
Saxo suits you if you want deposit protection where it applies and access to international stocks, bonds and CFDs in one account.
If you care more about strong research and a wide choice of markets than high leverage or a gamified app, Saxo is worth a look.
FAQ
Cash deposits at Saxo Bank A/S are covered by the Danish Guarantee Fund up to EUR 100,000, subject to eligibility. Client securities are segregated from the bank's operational assets under Danish FSA rules. If you open an account with Saxo Capital Markets UK Ltd, the FSCS applies instead. Neither scheme covers losses from trading, so check which Saxo entity you'd contract with before you rely on any protection.
Saxo Bank is a privately held Danish bank with no public equity listing. It is part of the J. Safra Sarasin Group, which agreed to buy a majority stake in 2025, and founder Kim Fournais keeps a minority stake.
Equity trades start from USD 1 on US exchanges and EUR 2 on European venues. Index and commodity CFDs carry built-in spreads without separate ticket fees. Classic accounts trade with a typical EUR/USD spread of 1.1 pips, while Platinum and VIP tiers lower spread charges further.
Funds transfer to verified bank accounts in the client's own name without internal payout fees. Processing typically completes within one to two business days via standard banking rails. Check Saxo's current funding page for your account entity before you withdraw.
Classic accounts need $5,000 of funding to open, while Platinum starts from $250,000 and VIP from $1,250,000. Thresholds can differ by Saxo entity and country, so check the figures for your own country before you fund an account.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
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