Saxo Bank Review

4.7

Saxo Bank offers a premium trading experience with access to over 70,000 instruments. Operating as a fully regulated bank, it provides high security and sophisticated tools. In 2025, Saxo drastically reduced fees, removed custody fees in key regions, and introduced competitive interest rates on uninvested cash (up to 4.5% in some currencies).

Visit Saxo Bank

Saxo Bank A/S is a licensed bank regulated by the Danish Financial Supervisory Authority (FSA). License no. 1149.

Pros

Access to 70,000+ assets (Stocks, Bonds, Options)
Regulated Bank (FSA Denmark & FINMA)
SaxoTraderGO is an award-winning platform
Interest on cash (No lock-in period)

Cons

High minimums for VIP tiers ($1M+)
Currency conversion fee (0.25%)
Not available to US residents

2025 Fee Reduction

Saxo has shed its image as an "expensive" broker. New pricing includes minimum commissions as low as $1 for US stocks and the removal of custody fees in many jurisdictions. The "Classic" account now has no minimum funding requirement, making Saxo accessible to a wider audience.

Wealth Management Tools

Saxo excels for long-term wealth building. Features include **AutoInvest** for monthly ETF savings plans (with waived purchase fees) and **Lombard Loans** (Margin Loans) that let you borrow against your portfolio at rates often lower than traditional personal loans.

FAQs about Saxo Bank

Is there a minimum deposit?

There is no minimum deposit for the "Classic" account. However, to unlock "Platinum" or "VIP" tiers (which have lower fees), significantly higher deposits are required ($200k / $1M).

Does Saxo pay interest?

Yes, Saxo pays interest on uninvested cash for most currencies (USD, EUR, GBP, etc.). Rates are variable and tiered based on your deposit size, up to ~4.5%.

Is Saxo Bank safe?

Yes, Saxo is a licensed Danish bank regulated by the FSA (Denmark) and other top-tier authorities like FINMA (Swiss) and FCA (UK). It has a Trust Score of 99/99.

Can I trade Options?

Yes, Saxo offers access to over 3,000 listed options on stocks, energy, and metals from 20 exchanges worldwide. It is a leader in multi-asset derivatives.

Is it available in the US?

No, Saxo Bank does not accept retail clients from the USA. It focuses on European, Asian, and Middle Eastern markets.

Regulatory Risk Warning

Trading financial instruments carries risks. The value of your investments can go down as well as up. Losses can exceed deposits on margin products.