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Head to head

Saxo vs Trendo

Saxo is licensed by Danish FSA (Finanstilsynet) in Denmark / European Union, FCA in the United Kingdom, FINMA in Switzerland, MAS in Singapore, CONSOB in Italy and JFSA in Japan. Trendo is licensed by FSC Mauritius in Mauritius (international clients). The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $0 at Saxo and $10 at Trendo. Only Saxo offers negative balance protection and segregated client money.

Facts last checked: Saxo on 20 October 2026, Trendo on 20 October 2026.

Saxo profileTrendo profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
SaxoStrictly regulatedRead the profile
TrendoRegulatedRead the profile
Comparing
SaxoDenmark / European Union
TrendoMauritius (international clients)

Overview

Founded
Not yet checked
Not yet checked
Headquarters
Hellerup, Denmark
Port Louis, Mauritius
Official websites
  • home.saxo
  • www.home.saxo
  • bgsaxo.it
  • trendo.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Saxo Bank A/S
Trending Markets (International) Ltd
Regulator
Danish FSA (Finanstilsynet)
Denmark / European Union
FSC Mauritius
Mauritius (international clients)
Regulation level
Strictly regulated
Regulated
Licence number
Bank licence 1149
Check the register
GB25205094 (SEC-2.1B Investment Dealer)
Check the register
Clients this company serves
Clients in Denmark and other countries not served by a local Saxo subsidiary, including those served through its French, Dutch, Belgian and Czech branches
International clients, depending on country of residence; the website does not say which countries go to this company and which to Trendo LLC (Armenia)
All licences held
  • Danish FSA (Finanstilsynet) (Denmark / European Union)
  • FCA (United Kingdom)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • CONSOB (Italy)
  • JFSA (Japan)
  • FSC Mauritius (Mauritius (international clients))
Segregated client money
Yes
No
Negative balance protection
Yes
No
Compensation scheme
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 subsidiaries
None

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Not yet checked
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (UK, EU)
Up to 1:2000 (1:500 on PAMM accounts and on balances below $50)
Retail leverage by asset class
  • EUR/USD (3.33% initial margin, UK): 1:30
  • GBP/USD and USD/JPY (4% initial margin, UK): 1:25
  • Real and demo accounts: 1:25 to 1:2000
  • Balances below $50: Up to 1:500
  • PAMM accounts: Up to 1:500
  • Around major news and market open or close: Cut to 1:500 or 1:200
Margin call level
Not yet checked
100%
Stop-out level
50% (UK and EU retail close-out rule)
70%

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • SaxoTraderGO
  • SaxoTraderPRO
  • SaxoInvestor
  • Mobile app
  • TradingView
  • Trendo app (iOS and Android)
  • Trendo desktop (Windows and Mac)
  • Trendo web trader
Markets
185+ FX pairs, FX options, CFDs, 23,000+ stocks, 7,400+ ETFs, bonds, futures and listed options
Forex, gold and metals, cryptocurrencies, stocks and other CFDs
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Not yet checked
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank transfer
  • Visa
  • Mastercard
  • Tether (TRC20 and BEP20)
  • USDC
  • Bitcoin
  • Ethereum
  • Tron
  • BNB
Withdrawal fee
Not yet checked
No Trendo fee on any method; blockchain network fees may apply
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
24-hour support while markets are open; relationship managers for larger clients
24/7 support and live chat

Our notes

Strengths
  • 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
  • Trending Markets (International) Ltd is on the FSC Mauritius register as an investment dealer (SEC-2.1B), licensed since 28 October 2025
  • One simple account from $10, with a published $3 commission per lot
  • No Trendo fees on deposits or withdrawals, with a $10 minimum per transaction
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
  • Some clients are served by Trendo LLC in Armenia (registration 271.110.1214359); Trendo shows a company registration and charter update for it, and does not cite a financial licence
  • Leverage up to 1:2000 and deposit bonuses that come with trading conditions
  • We found no document setting out where client money is held or whether you have negative balance protection
  • Proprietary platform only; no MetaTrader

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Saxo: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Trendo: Forex and CFD trading are complex instruments and come with a high risk of rapid capital loss due to leverage. A significant percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how these instruments work and whether you can afford to take the high risk associated with CFD trading. Trade responsibly: always consider your investment objectives, experience level, and risk appetite. If needed, seek advice from an independent financial advisor.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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