Is Saxo Bank a Scam? Regulation Check 2026
We ran Saxo Bank through the kitchen inspection, looking up its licence in the official ASIC register. Here is what the paperwork says.
Verdict
Saxo Bank is NOT a scam. It cooks under ASIC licence 280372, which clears it to serve trading in New Zealand.
How to verify on the official register
| Regulator | ASIC ASIC Australian Securities and Investments Commission (ASIC) |
| Licence Number | 280372 |
| Regulated Entity | Saxo Capital Markets (Australia) Pty Ltd |
| Founded | 1992 |
What the ASIC seal buys you
A ASIC-regulated kitchen has to keep client money in its own segregated pot, offer negative balance protection, and open its books to independent audits. If something goes wrong, you can take your complaint straight to ASIC.
What the ASIC seal puts on your plate
- Your money kept in a segregated pot, walled off from Saxo Bank's own capital
- Negative balance protection, so you can never lose more than you put on the table
- A direct line to ASIC for complaints if Saxo Bank will not put things right
- Regular independent audits of Saxo Bank's books under ASIC oversight
Frequently Asked Questions
Is Saxo Bank a scam or legitimate?
Saxo Bank is NOT a scam. It is authorised by ASIC, one of the most respected inspectors in the business, and the authorisation is publicly verifiable on the official ASIC register.
How do I check Saxo Bank's ASIC licence?
Open the official ASIC website and use the public register search. Search the entity name; the entry will confirm Saxo Bank's authorisation status and exactly what it is cleared to serve.
Are my funds safe with Saxo Bank?
As a ASIC-regulated kitchen, Saxo Bank must keep every client's money in its own segregated pot, walled off from the firm's own funds. That shields your deposit even if Saxo Bank runs into trouble.
What protection do I have as a Saxo Bank client in New Zealand?
In New Zealand, Saxo Bank sits under ASIC supervision, so you get: segregated client money, negative balance protection (you can never lose more than is on the table), and the right to take a complaint straight to ASIC.
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