A Danish bank (Saxo Bank A/S) with licensed subsidiaries in the UK, Switzerland, Singapore, Italy and Japan. Forex sits alongside stocks, bonds, futures and options in one multi-asset account.
Facts last checked 20 October 2026. Always confirm on the regulator’s register. How we review brokers
Get an email when Saxo's licence or key facts change.
Key facts
Founded
Not yet checked
Headquarters
Hellerup, Denmark
Minimum deposit
$0
Max. retail leverage
1:30 on major pairs (UK, EU)
Cheapest cost per lot
Not yet checked
Regulators
Danish FSA (Finanstilsynet) (Denmark / European Union), FCA (United Kingdom), FINMA (Switzerland), MAS (Singapore), CONSOB (Italy), JFSA (Japan)
Platforms
SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, Mobile app, TradingView
✓Danish Guarantee Fund: cash deposits up to €100,000 and investor cover up to €20,000 (Saxo Bank A/S); FSCS up to £85,000 (UK); local schemes for other subsidiariesWhat this means
Regulation and entities
Your protection depends on which company holds your account, and that depends on where you live. Each row is one licensed company. What regulation means
Clients in Denmark and other countries not served by a local Saxo subsidiary, including those served through its French, Dutch, Belgian and Czech branches
Before you deposit: search the licence number on the register, then check that the website and phone number listed there match the ones you are using. How to check a licence
Websites
Official websites
✓home.saxo
✓www.home.saxo
✓bgsaxo.it
Type the address yourself or use a bookmark. Check it matches the website listed for the firm on the regulator’s register.
Watch out for look-alike sites
We have not recorded any look-alike sites for Saxo. That does not mean none exist.
A clone firm copies a real broker’s name, licence number and branding to take deposits. The register shows the genuine firm, so the surest check is the contact details: if the website, email or phone number you were given is not the one on the register, treat it as a clone. Check a broker step by step
Accounts and costs
Account types and costs not yet checked.
Cost per lot = typical EUR/USD spread × $10 + round-turn commission, for one standard lot (100,000 units) in busy hours. Swap and other fees are extra. Trading costs explained
Leverage and margin
Leverage lets you open a position bigger than your deposit, so losses grow as fast as gains. The caps below are the most Saxo allows; you can always use less.
50% (UK and EU retail close-out rule)When your equity falls to 50% (UK and EU retail close-out rule) of your used margin, the platform starts closing your trades, usually the biggest loser first, until the level recovers.
Parent company is a Danish bank classed as systemically important, with bank licences in Denmark and Switzerland
Every listed company is authorised by a strict regulator
No minimum funding in the UK, and negative balance protection for retail clients
Forex, stocks, bonds, futures and options in one account
Watch out for
Saxo publishes minimum spreads, not typical spreads, and prices vary by account tier and country
No MetaTrader; trading runs on Saxo's own platforms or TradingView
BG SAXO SIM was checked on CONSOB's published list of registered SIMs (February 2025 edition); the live CONSOB register blocked our access on 2026-10-20
Overview
Saxo began in 1992 and its parent, Saxo Bank A/S, has held a Danish banking licence since 2001. It is now part of the J. Safra Sarasin Group. Saxo is a multi-asset broker: forex and CFDs are one part of an account that also covers stocks, ETFs, bonds, futures and listed options. Its retail clients use Saxo’s own platforms rather than MetaTrader.
Regulation and safety
We checked each licence on the regulator’s register on 20 October 2026. Saxo Bank A/S is a Danish bank (licence 1149) and was classed as systemically important by the Danish FSA in 2023, which brings higher capital requirements. UK clients join Saxo Capital Markets UK Ltd (FCA 551422). Saxo Bank (Schweiz) AG holds a Swiss bank licence from FINMA, Saxo Capital Markets Pte Ltd is licensed by MAS in Singapore, BG SAXO SIM is an Italian investment firm on CONSOB’s list, and Saxo Bank Securities is registered in Japan.
Saxo Bank A/S clients are covered by the Danish Guarantee Fund for cash up to €100,000 and for investments Saxo fails to return up to €20,000. UK clients have the FSCS. See our guide to forex broker regulation.
Costs
Saxo’s UK site lists minimum spreads of 0.7 pips on EUR/USD, 0.8 on GBP/USD and 0.9 on USD/JPY, with no exchange or third-party fees on FX. Saxo does not publish typical spreads, and prices fall at higher account tiers. Check the live quote in the platform and use the trading costs guide to compare.
Platforms and tools
SaxoTraderGO (web and mobile) and SaxoTraderPRO (desktop) cover forex, CFDs and listed products. SaxoInvestor is a simpler app for investing. TradingView and APIs are supported. There is no MT4 or MT5; see MT4 vs MT5 if that matters to you.
Deposits and withdrawals
Fund the account by bank transfer from an account in your own name. Withdrawals go back to that account.
Who it may suit
The account set-up fits traders who want forex alongside stocks, bonds and options in one place, under a bank-owned group with strict-tier licences. It is less suited to anyone who relies on MetaTrader Expert Advisors. Try the demo account first.
How to open an account
The steps as we checked them. Never deposit until you have confirmed the licence.
Check which company you will join
UK residents join Saxo Capital Markets UK Ltd (FCA), Swiss residents Saxo Bank (Schweiz) AG (FINMA), Singapore residents Saxo Capital Markets Pte Ltd (MAS), Italians BG SAXO SIM and Japanese residents Saxo Bank Securities. Most others contract with Saxo Bank A/S in Denmark.
Apply online
Give your personal details, tax residence and trading experience, then upload ID and proof of address.
Fund the account
Send a bank transfer from an account in your own name. There is no minimum funding in the UK.
Practise first
Try the free demo of SaxoTraderGO before you trade margin products.
What changed on this profile
Profile published. Licences checked on the Danish FSA, FCA, FINMA, MAS and JFSA registers, and on CONSOB's published list of registered SIMs.
Saxo: common questions
Is Saxo regulated?
Yes. Saxo Bank A/S holds Danish bank licence 1149, Saxo Capital Markets UK is FCA-authorised (551422), Saxo Bank (Schweiz) holds a FINMA bank licence, and its Singapore, Italian and Japanese companies are licensed locally. We checked each on 20 October 2026.
Which Saxo company will I join?
It depends on where you live: Saxo Capital Markets UK Ltd in the UK, Saxo Bank (Schweiz) AG in Switzerland, Saxo Capital Markets Pte Ltd in Singapore, BG SAXO SIM in Italy, Saxo Bank Securities in Japan, and Saxo Bank A/S in Denmark and most other countries.
What is the minimum deposit?
Saxo's UK forex page says there is no minimum funding. Requirements can differ by country and account tier.
Can I lose more than I deposit?
Saxo's UK site lists negative balance protection for retail clients, which caps losses at the money in your account. Professional clients do not have this protection. Leverage still magnifies losses.
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This profile is factual information, not a recommendation or financial advice. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Read the full disclaimer.
