Saxo Bank Review 2026
A bank for serious traders. High minimum, massive range.
A proper bank, not just a broker. 65,000 instruments including real stocks and bonds. $2,000 minimum deposit filters out beginners. Built for serious portfolios.
What's on the menu
Saxo Bank has been serving since 1992, with the kitchen based in Copenhagen, Denmark. The firm is privately held. The order book runs deep: 65,000 CFD instruments spanning forex, indices, commodities and crypto. Beyond the CFD menu, you can also own real shares outright.
MetaTrader comes plated on every account type. There is no copy-trading option here.
| Founded | 1992 |
| Headquarters | Copenhagen, Denmark |
| Instruments | 65,000+ |
| Platforms | SaxoTraderGO, SaxoTraderPRO, MT4 |
| MetaTrader | Yes, MT4 and MT5 |
| Copy trading | No |
| Real stocks | Yes |
Kitchen inspection: is Saxo Bank safe?
The Seychelles FSA is an offshore regulator. It requires broker registration and basic conduct rules, but does not offer the same client protections as the FCA, CySEC, or ASIC. There is no compensation scheme and leverage limits are not imposed.
| Regulator | Licence | Entity |
|---|---|---|
| DFSA | DF000029 ✓ | Saxo Bank A/S (DIFC) |
| FSA-DK | 1149 ✓ | Saxo Bank A/S |
| ASIC | 280372 ✓ | Saxo Capital Markets (Australia) Pty Ltd |
| MAS | 200601141M ✓ | Saxo Capital Markets Pte Ltd |
| SFC | AXF613 ✓ | Saxo Capital Markets HK Ltd |
| JFSA | 関東財務局長(金商)第239号 ✓ | Saxo Bank Securities Ltd |
Want to inspect the kitchen yourself? Pull up www.finanstilsynet.dk and look up the FSA licence. The listing lays out the entity name, its authorisation status and the full list of what it is cleared to do. A minute, tops.
Ready to open an account?
Saxo Bank - FSA regulated, min deposit $2000, 65,000+ instruments.
Ingredient costs: Saxo Bank spreads
Here is what the raw ingredients cost on a standard Saxo Bank account. Spreads breathe with the market and with your account tier; step up to an ECN or raw-spread table and the spread shrinks, but a per-trade commission joins the bill.
| EUR/USD | 0.4 (classic) / 0.1 (platinum) pips |
| GBP/USD | 0.5 pips |
| USD/JPY | 0.4 pips |
| Gold (XAU/USD) | 25c/oz |
| S&P 500 | 0.4pt |
That EUR/USD figure of 0.4 (classic) / 0.1 (platinum) pips is a lean, low-cost ingredient, right up there with the ECN specialists.
The bill: Saxo Bank withdrawal fee and timing
Cost to take money out: None for standard withdrawals. Saxo may apply fees for international transfers depending on currency.
How long it takes: 1 to 3 business days. Saxo processes to bank account only, which means 1 to 3 business days in most cases.
No cash leaves the till until your identity checks out. If your proof of ID and address are not yet filed and cleared, the payout waits; once you are fully verified, cash-outs follow the timings shown above.
The cover charge by entity
The opening deposit at Saxo Bank depends on which entity seats your country. Offshore branches tend to set a smaller cover charge, but you dine with a thinner layer of regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| Saxo Bank A/S (DIFC) | DFSA DF000029 | $2000 | 1:200 |
| Saxo Bank A/S | FSA-DK 1149 | $2000 | 1:30 |
| Saxo Capital Markets (Australia) Pty Ltd | ASIC 280372 | $2000 | 1:30 |
| Saxo Capital Markets Pte Ltd | MAS 200601141M | $2000 | 1:20 |
| Saxo Capital Markets HK Ltd | SFC AXF613 | $2000 | 1:20 |
| Saxo Bank Securities Ltd | JFSA 関東財務局長(金商)第239号 | $2000 | 1:25 |
Saxo Bank vs IG Group
| Saxo Bank | IG Group | |
|---|---|---|
| Primary regulator | FSA 1149 | FCA 195355 |
| Min deposit | $2000 | None |
| EUR/USD spread | 0.4 (classic) / 0.1 (platinum) pips | 0.6 pips |
| MetaTrader | Yes | Yes |
| Instruments | 65,000+ | 17,000+ |
| Copy trading | No | No |
| Withdrawal fee | None for standard withdrawals | None |
Both kitchens hold real licences, so neither is a bad table. Pull up a chair at Saxo Bank if you value MetaTrader and running algorithms. IG Group plates up better for anyone who leans on its particular regulated-entity coverage.
The licences, line by line
| DFSA | DF000029, Saxo Bank A/S (DIFC) |
| FSA-DK | 1149, Saxo Bank A/S |
| ASIC | 280372, Saxo Capital Markets (Australia) Pty Ltd |
| MAS | 200601141M, Saxo Capital Markets Pte Ltd |
| SFC | AXF613, Saxo Capital Markets HK Ltd |
| JFSA | 関東財務局長(金商)第239号, Saxo Bank Securities Ltd |
Under ESMA house rules, retail traders in the EU and UK are served leverage no higher than 1:200 on the major forex pairs.
What tastes good, what leaves a bad aftertaste
Cooked well
- Full bank licence (Denmark)
- 65,000+ instruments
- Real stocks, bonds, options
- SaxoTraderGO and SaxoTraderPRO
- Regulated in 15+ jurisdictions
- Professional-grade execution
Sent back
- $2,000 minimum deposit
- $100 inactivity fee after 6 months
- No copy trading
- Complex pricing tiers
Compare Saxo Bank before you commit
4.2/5 rating - FSA regulated - min deposit $2000
The verdict
Nothing on the plate here is fake: Saxo Bank is a genuine, regulated broker, and FSA licence 1149 checks out on the public register. The table is set best for traders who want MetaTrader served on a regulated platform. We rate it 4.2 out of 5.
Other tables worth a look
If Saxo Bank is not quite to your taste, these regulated kitchens are worth comparing:
Frequently asked questions
Is Saxo Bank safe?
The Seychelles FSA is an offshore regulator. The kitchen holds FSA licence 1149, and you can confirm it for yourself on the official register.
What is the Saxo Bank minimum deposit?
The cover charge is $2000 at the main regulated entity. Offshore branches may plate it differently, so check the entity table above for the full spread.
What is the Saxo Bank EUR/USD spread?
On a standard Saxo Bank account the EUR/USD ingredient runs about 0.4 (classic) / 0.1 (platinum) pips. It moves with the market; an ECN or raw table trims the spread in exchange for a per-trade commission.
How long does Saxo Bank take to process withdrawals?
1 to 3 business days. Saxo processes to bank account only, which means 1 to 3 business days in most cases.
Does Saxo Bank charge withdrawal fees?
None for standard withdrawals. Saxo may apply fees for international transfers depending on currency.
Does Saxo Bank have MetaTrader?
Yes. Both MT4 and MT5 are on the menu across every account type, so automated strategies, custom indicators and expert advisors are all on the table.