Saxo Bank Review 2026
Saxo Bank is a Danish bank and broker now owned by J. Safra Sarasin. It holds real tier one licenses, but Denmark fined it about 50 million dollars for money laundering rule failures.
Min Deposit
$0
Spreads From
Variable
Max Leverage
1:30
Platforms
3
Pros
- Genuinely regulated by the FCA, ASIC, FINMA, and MAS across four countries.
- Publicly traded history, now owned by Swiss private bank J. Safra Sarasin.
- Award winning SaxoTraderGO and SaxoTraderPRO platforms cover many assets.
- Forex spreads start near 0.6 pips with no separate commission on majors.
- SaxoTraderGO mobile app rates 4.3 out of 5 from thousands of Google Play reviews.
Cons
- Fined near 50 million dollars by Denmark's FSA in 2026 for AML control gaps.
- France and the Netherlands also fined Saxo units in the same rough period.
- No MetaTrader 4, MetaTrader 5, or cTrader, only Saxo's own closed platforms.
- Trustpilot reviewers often report slow support and long account freezes.
- Classic account needs a EUR 100,000 deposit for clients in Spain and Portugal.
- ASIC placed extra oversight conditions on the Australian license recently.
Saxo Bank began in Denmark in 1992 as a small brokerage. It became a licensed bank in 2001 under the Saxo Bank name. Chinese group Geely and Nordic insurer Mandatum long held most shares. In 2026, Swiss bank J. Safra Sarasin took majority control near 71 percent. Kim Fournais became chairman and Daniel Belfer became chief executive.
Saxo offers forex, stocks, options, and futures through its own SaxoTraderGO and SaxoTraderPRO platforms, with no MetaTrader or cTrader option. Forex spreads start near 0.6 pips with no separate commission. A currency conversion fee applies outside your account currency.
Saxo holds real licenses from the FCA, ASIC, FINMA, and MAS, plus a banking license from the Danish FSA, yet the record is not clean. In January 2026, the Danish FSA fined Saxo Bank near 50 million US dollars for weak money laundering checks on white label partners. French and Dutch regulators added smaller fines. Trustpilot reviewers often report slow support and long account freezes.
Min. Deposit
USD 0
Max Leverage
1:30 for retail clients in the UK and EU
Spreads From
0.6 pips
Platforms
Saxo Bank is a fully licensed and regulated Danish investment bank established in 1992, offering one of the most comprehensive multi-asset trading experiences in the industry. With access to over 70,000 instruments across stocks, ETFs, forex, CFDs, options, futures, and bonds, Saxo Bank caters to intermediate and advanced traders seeking professional-grade infrastructure.
The bank provides three sophisticated trading platforms: SaxoInvestor for long-term investors, SaxoTrader for active traders, and SaxoTraderPRO for professionals requiring advanced functionality. Saxo Bank is renowned for its institutional-level research, comprehensive market analysis, and seamless multi-currency account management.
With bank-level regulation from the Danish FSA, FCA (UK), MAS (Singapore), and ASIC (Australia), Saxo Bank maintains the highest standards of client protection. Client funds are held in segregated accounts with top-tier banks, and the platform offers negative balance protection for retail clients.
Classic
Platinum
VIP
185+ currency pairs available for trading
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
Regulators
Platforms
- Danish FSA
- FCA (UK)
- MAS (Singapore)
- ASIC (Australia)
Last verified: July 15, 2026
