Saxo Bank Review 2026
Established in 1992
•
Denmark
• DFSA Regulated
Saxo Bank is one of our top-rated forex brokers, scoring 4.5/5 in our comprehensive testing. Regulated by DFSA (highest protection tier), this broker offers spreads from 0.6 pips on EUR/USD with a minimum deposit of $2000. Trade 72000+ instruments including forex, CFDs, and more.
📊 Saxo Bank Overview
Saxo Bank (Saxo Bank A/S) is a well-established broker founded in 1992 headquartered in Copenhagen, Denmark. The broker operates under the supervision of DFSA , one of the world's most respected financial regulators known for strict oversight and investor protection .
With access to 72000+ tradable instruments including 185 forex pairs , 35 cryptocurrencies , 23000 stocks , and various indices, Saxo Bank caters to diverse trading strategies.
| Legal Name | Saxo Bank A/S |
|---|---|
| Founded | 1992 |
| Headquarters |
Copenhagen, Denmark
|
| Primary Regulation | DFSA (Tier 1 - Highest Protection) |
| Instruments | 72000+ assets |
| Min Deposit | $2000 |
| Max Leverage | 1:100 |
📖 Saxo Bank — In-Depth Introduction
Since 1992, Saxo Bank has been serving traders worldwide, accumulating 34 years of expertise in the financial markets. Saxo Bank's DFSA authorization subjects the broker to rigorous compliance requirements, regular audits, and strict capital adequacy rules—providing peace of mind for safety-conscious traders. Saxo Bank caters to serious traders with its professional-grade execution and comprehensive platform offerings.
Company Background
Saxo Bank (legally Saxo Bank A/S) has been operating in the financial services industry for 34 years. Headquartered in Copenhagen, Denmark, the company has weathered multiple market cycles including the 2008 financial crisis and the 2020 pandemic volatility, demonstrating operational resilience.
The broker provides access to 72000+ tradable instruments.
💸 Saxo Bank Fees — Complete Cost Analysis
Saxo Bank offers competitive trading costs that will appeal to cost-conscious traders. The 0.6 pip spread on EUR/USD is below the industry average, providing good value. Saxo Bank's ECN accounts feature $3.0 commission per lot, combined with raw spreads. Total trading costs often work out lower than spread-only accounts for high-volume traders. For context, a day trader executing 5 round-turn trades daily at 1 lot each would pay roughly $30 in spread costs per day with Saxo Bank. Over a month (22 trading days), that's $660.
Trading Costs Breakdown
💡 Cost Calculator: Saxo Bank
Non-Trading Fees
| Fee Type | Saxo Bank | Industry Average |
|---|---|---|
| Deposit Fee | Free | Free - $25 |
| Withdrawal Fee | Varies by method | $0 - $50 |
| Inactivity Fee | None | $10-50/month |
Want to compare fees with other brokers?
⚖️ Compare🛡️ Is Saxo Bank Safe? — Complete Security Analysis
Saxo Bank's 98/100 Trust Score places it among the safest brokers in our database. This score is calculated using 15+ safety factors including regulation, fund segregation, and company transparency. Client funds at Saxo Bank are held in segregated accounts at top-tier banks, completely separate from the company's operational funds. This means even in the unlikely event of broker insolvency, your money remains protected and inaccessible to creditors.
Regulatory Framework
Saxo Bank is regulated by DFSA.
Security Features Checklist
Understanding the Trust Score
Our 98/100 Trust Score is calculated using 15+ safety factors including regulation, company history, financial transparency, and client fund protection.
📋 Methodology👤 Who Should Use Saxo Bank?
✅ Best For
- Professional traders will appreciate Saxo Bank's institutional-grade features: tight spreads, advanced platforms, API access, and high leverage options (where permitted).
❌ May Not Suit
- Those seeking the absolute lowest trading costs.
Looking for alternatives?
📝 The Bottom Line on Saxo Bank
Saxo Bank earns our strong recommendation as a top-tier broker with a 4.5/5 rating.
📈 Saxo Bank Detailed Scores
Our expert team evaluates brokers across 8 key categories. Here's how Saxo Bank performed in our rigorous testing:
Saxo Bank is among the best brokers we've reviewed, excelling in multiple categories.
💰 Saxo Bank Fees & Spreads
Understanding trading costs is crucial for profitability. Saxo Bank uses a Variable spread model with commissions of $3.0 per lot round turn. The average EUR/USD spread is 0.6 pips — competitive compared to industry average.
📊 Typical Spreads
| Pair | Min | Average |
|---|---|---|
| EUR/USD | 0.4 | 0.6 pips |
| GBP/USD | 0.8 | 1.2 pips |
| USD/JPY | 0.6 | 1.0 pips |
| XAU/USD | 15 | 25 cents |
💳 Other Fees
| Commission (ECN) | $3.0/lot |
| Deposit Fee | Free |
| Withdrawal Fee | Free (method dependent) |
| Inactivity Fee | None |
| Swap-Free (Islamic) | Not available |
💡 Trading Cost Example
Trading 1 standard lot (100,000 units) of EUR/USD with Saxo Bank:
- Spread Cost: 0.6 pips × $10/pip = $6.0
- Commission: $3.0 round turn
- Total Cost: $9.0 per lot
🛡️ Saxo Bank Regulation & Safety
Saxo Bank is regulated by DFSA, a Tier 1 - Highest Protection regulatory authority. This means the broker must adhere to the strictest financial regulations, including capital requirements, regular audits, and mandatory investor protection schemes.
📜 Regulatory Licenses
- DFSA
- FCA 551422
- ASIC 280372
- MAS
- FSA Japan
🔒 Safety Features
- ✓ Segregated Client Funds
- ✓ Negative Balance Protection
- ✗ Investor Compensation
- — Publicly Traded
🎯 Trust Score: 98/100
High Trust: Saxo Bank has demonstrated excellent regulatory compliance and safety standards.
🖥️ Saxo Bank Trading Platforms
Saxo Bank offers 3 trading platforms, giving traders flexibility in how they access the markets. Mobile apps are also available for iOS and Android.
MetaTrader 4
The world's most popular forex platform. Ideal for beginners and algo traders with Expert Advisor support.
- ✓ Expert Advisors (EAs)
- ✓ Custom Indicators
- ✓ One-Click Trading
- ✓ Mobile & Desktop
SaxoTraderGO
Saxo Bank's custom-built trading platform designed specifically for their clients.
- ✓ Custom Features
- ✓ Integrated Tools
- ✓ Web-Based
- ✓ Mobile App
📋 Platform Comparison
| Feature | MT4 | MT5 | cTrader | SaxoTraderGO |
|---|---|---|---|---|
| Available | ✓ | ✗ | ✗ | ✓ |
| Copy Trading | ✗ | ✗ | ✗ | ✗ |
| Algo Trading | ✓ | ✗ | ✗ | ✗ |
| VPS Available | Not offered | |||
| API Access | Not available | |||
🌐 Saxo Bank Tradable Instruments
Saxo Bank offers access to 72000+ tradable instruments across multiple asset classes. This includes 185 forex pairs , 35 cryptocurrencies , and 23000 global stocks.
👤 Saxo Bank Account Types
Saxo Bank offers various account types to suit different trading needs and experience levels. Demo accounts are available for practice.
Practice with virtual funds
Not available
Not available
Not available
Not available
💳 Saxo Bank Deposits & Withdrawals
Saxo Bank requires a minimum deposit of $2000 .
📥 Deposit Methods
- 💳Credit/Debit Cards
- 🏦Bank Wire Transfer
- 📱E-Wallets (Skrill, Neteller)
📤 Withdrawal Methods
- 💳Credit/Debit Cards
- 🏦Bank Wire Transfer
- 📱E-Wallets
⚖️ Saxo Bank Pros & Cons
✅ Pros
- Competitive spreads with average 0.6 pips on EUR/USD
- Top-tier DFSA regulation ensures high safety standards
- Free demo account available for practice
- Negative balance protection for retail traders
❌ Cons
- Minimum deposit of $2000 may be high for beginners
- No copy trading feature
- Limited educational resources for advanced traders
📚 Saxo Bank Education & Research
Saxo Bank's educational offerings are limited compared to some competitors.
Limited
Not available
Basic coverage
Available on trading platforms
🎧 Saxo Bank Customer Support
Saxo Bank offers customer support to assist traders with their queries.
⭐ Saxo Bank User Reviews
📝 User reviews will be displayed here. Share your experience with Saxo Bank!
Write a Review🏆 Saxo Bank — Our Verdict
Saxo Bank is among the best forex brokers we've tested. With DFSA regulation, 0.6 pips EUR/USD spreads, and a $2000 minimum deposit, this broker is well-suited for both beginners and experienced traders .
Best for: Safety-focused traders
⚠️ Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
❓ Saxo Bank — Frequently Asked Questions
Is Saxo Bank a safe and regulated broker?
Yes, Saxo Bank is regulated by DFSA, which is a Tier 1 - Highest Protection regulatory authority. The broker also holds licenses from 4 additional regulators. Client funds are kept in segregated accounts with negative balance protection.
What is the minimum deposit at Saxo Bank?
The minimum deposit at Saxo Bank is $2000. This is a moderate minimum deposit requirement.
What trading platforms does Saxo Bank offer?
Saxo Bank offers the following trading platforms:
- MetaTrader 4 (MT4) — The most popular forex trading platform
- SaxoTraderGO — Custom-built trading solution
- Web Platform — Trade directly from your browser
- Mobile Apps — Available for iOS and Android
What are Saxo Bank's spreads on EUR/USD?
Saxo Bank offers EUR/USD spreads from 0.4 pips with an average of 0.6 pips. The broker uses Variable spreads. On ECN accounts, there's a commission of $3.0 per lot round turn.
How long do withdrawals take at Saxo Bank?
Withdrawal processing times at Saxo Bank depend on the payment method:
- E-wallets: 0-24 hours
- Credit/Debit Cards: 2-5 business days
- Bank Transfers: 3-7 business days
Does Saxo Bank offer a demo account?
Yes, Saxo Bank offers free demo accounts with virtual funds so you can practice trading without risking real money. This is an excellent way to test the platform and develop your trading strategy.
What is Saxo Bank's maximum leverage?
Saxo Bank offers maximum leverage of 1:100. However, note that leverage limits vary by region due to regulatory requirements:
- EU/UK/Australia: Up to 1:30 for major forex pairs (retail)
- Professional traders: Higher leverage may be available upon qualification
- Other jurisdictions: Leverage up to 1:100 may be available
Higher leverage increases both potential profits and potential losses.
Can I use Saxo Bank in ?
Saxo Bank accepts traders from . The broker operates under DFSA regulation. Always verify current availability and applicable regulations on the broker's website.
Does Saxo Bank offer Islamic (swap-free) accounts?
Saxo Bank does not currently advertise Islamic accounts. If you require swap-free trading, we recommend contacting them directly or considering an alternative broker.
What instruments can I trade with Saxo Bank?
Saxo Bank offers access to 72000+ tradable instruments:
- 185 Forex currency pairs
- 35 Cryptocurrencies
- 23000 Stock CFDs
- 36 Index CFDs
- 45 Commodities
- 7000 ETF CFDs