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Saxo Australia Review
Saxo Australia is the ASIC regulated arm of Danish bank Saxo, giving access to shares, forex, and CFDs. It once faced added licence conditions and a short 2023 stop order.
Min Deposit
AUD 500
Spreads From
Around 0.4 pips on EUR/USD for Classic clients
Max Leverage
1:30 for retail clients on major forex pairs (ASIC cap)
Platforms
4
Pros
- Regulated by ASIC in Australia under licence AFSL 280372
- No minimum deposit needed to open a Classic account
- Access to more than 70,000 instruments across many asset classes
- Backed by Saxo Bank A/S, a Danish bank listed since 1992
- Forex spreads start near 0.4 pips on EUR/USD for Classic clients
Cons
- ASIC issued short stop orders on 8 CFD products in May 2023
- ASIC added extra risk management licence conditions back in 2012
- Retail forex leverage is capped at just 1:30 under ASIC rules
- Platforms suit active traders more than beginners or passive investors
Saxo Australia is the local arm of Saxo Bank A/S, a Danish bank that started in 1992. The Australian entity, Saxo Capital Markets (Australia) Limited, holds ASIC licence AFSL 280372. It once ran the platform for Sonray Capital Markets, a firm that collapsed in 2010, and ASIC added extra risk conditions to Saxo's own licence in 2012.
Clients get access to more than 70,000 instruments, covering shares, forex, CFDs, futures, bonds, and options, through platforms like SaxoTraderGO and SaxoTraderPRO. A Classic account now needs no minimum deposit. Forex spreads start near 0.4 pips on EUR/USD, and ASIC caps retail leverage at 1:30 on major currency pairs, the same limit used across Australia.
In May 2023, ASIC issued short stop orders on eight Saxo CFD products over target market rules, and lifted them two days later once Saxo fixed the paperwork. Saxo Australia sits inside a global, listed group, built more for active traders than beginners wanting a simple, passive account.
Min. Deposit
USD 0
Max Leverage
1:30 for retail clients on major forex pairs (ASIC cap)
Spreads From
Around 0.4 pips on EUR/USD for Classic clients
Platforms
Regulators
Platforms
- ASIC (Australia)
- AFSL 280372
