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Saxo Markets UK Review
Saxo Markets UK is the FCA regulated London arm of Danish group Saxo Bank, offering forex and stocks with no set minimum deposit and no MetaTrader support.
Min Deposit
$1
Spreads From
0.6 pips
Max Leverage
1:30 for retail clients on major forex pairs
Platforms
SaxoTraderGO, SaxoTraderPRO
Pros
- Authorised and regulated by the FCA in London under reference 551422
- Part of the wider Saxo Bank Group, with real licenses in several countries
- No set minimum deposit needed to open a standard trading account
- Eligible UK client funds carry FSCS protection up to 85,000 pounds
- SaxoTraderGO and SaxoTraderPRO cover forex, stocks, options and futures
Cons
- No MetaTrader 4, MetaTrader 5, or cTrader, only Saxo's own platforms
- Parent Saxo Bank was fined near 50 million dollars in Denmark in 2026
- FCA has warned the public about scam websites that clone the Saxo brand
- Newer Essential account still needs around 1,000 euros to start trading
Saxo Capital Markets UK Limited is the British arm of Saxo Bank, a group that began in Copenhagen in 1992. Companies House lists the UK firm under number 07413871, and the FCA authorised it under reference 551422. Ownership changed in 2026, when Swiss group J. Safra Sarasin bought about 71 percent of Saxo Bank from Geely and Mandatum.
Clients trade forex, stocks, options, and futures through SaxoTraderGO or SaxoTraderPRO, since Saxo has no MetaTrader or cTrader. A standard account needs no set minimum deposit, while the newer Essential account asks for around 1,000 euros. Spreads start near 0.6 pips, and FCA rules cap retail leverage at 1:30 on major currency pairs.
Eligible UK client money has FSCS cover up to 85,000 pounds if Saxo ever fails. Still, the wider group is not spotless. Denmark's watchdog fined it close to 50 million dollars in January 2026 for weak checks on white label partner accounts. The FCA has also warned about scam sites that clone the Saxo name.
Min. Deposit
USD 1
Max Leverage
1:30 for retail clients on major forex pairs
Spreads From
0.6 pips
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
