Saxo Bank Review 2026
The full Saxo Bank write-up for Singapore traders: the kitchen inspection, the ingredient costs, the bill, and our straight verdict.
Regulation in Singapore
| Regulator | MAS MAS, Monetary Authority of Singapore (MAS) |
| Licence Number | 200601141M |
| Regulated Entity | Saxo Capital Markets Pte Ltd |
| Max Leverage (Forex) | 1:20 |
| Minimum Deposit | $2000 |
| EUR/USD Spread | From 0.4 pips |
| Instruments | 65,000+ |
| Platforms | SaxoTraderGO, SaxoTraderPRO, MT4 |
| Copy Trading | ✗ |
| Real Stocks | ✓ |
| Inactivity fee | Inactivity fee: USD100/month after 6 months |
| Verify on MAS register → | 200601141M |
Verdict
Cooks under MAS (licence 200601141M). Cover charge $2000. In Singapore, forex leverage is capped at 1:20.
About Saxo Bank
Saxo Bank opened its doors in 1992 out of a kitchen in Copenhagen, Denmark. Its menu runs to 65,000 tradeable instruments, forex pairs alongside CFDs on stocks, indices and commodities. It holds licences across several jurisdictions, with the head licence carried by Saxo Capital Markets Pte Ltd under MAS.
In Singapore, Saxo Bank serves as Saxo Capital Markets Pte Ltd, cleared by MAS under licence number 200601141M. Under MAS house rules, Singapore traders are poured no more than 1:20 leverage on forex pairs.
Trading Platforms
Pros
- MAS regulated, licence 200601141M
- 65,000+ instruments to trade
- Negative balance protection in Singapore
- Platforms: SaxoTraderGO, SaxoTraderPRO, MT4
- Real stock ownership (not CFD)
- Founded in 1992 (34 years operating)
- 65,000+ instruments, one of the widest menus reviewed
Cons
- Inactivity fee: USD100/month after 6 months
- 68% of retail clients burn their fingers
- CFDs only, you trade the price, you never own the dish
Key Facts, Saxo Bank
- Listed on Nasdaq Copenhagen stock exchange (ticker: SAXO)
- Widest product range in industry, 71,000+ instruments including bonds, mutual funds, futures, listed options
- Proprietary SaxoTraderGO platform consistently rated among best professional trading platforms
Known Limitations
- High minimum deposit, Classic account requires $2,000, Platinum $200,000
- Commission structure complex and can be expensive for small traders
- Not suitable for beginners, designed for professional/experienced traders
Frequently Asked Questions
Is Saxo Bank regulated?
Yes. Saxo Bank is authorised by MAS, issued to the entity Saxo Capital Markets Pte Ltd, an authorisation you can look up for yourself on the official MAS public register.
What is the minimum deposit for Saxo Bank in Singapore?
The cover charge is $2000, the smallest amount Singapore traders need to open a live account with Saxo Bank under MAS rules.
What leverage does Saxo Bank offer in Singapore?
In Singapore, MAS rules cap Saxo Bank at 1:20 on forex pairs. A larger pour is sometimes available through offshore-regulated entities, with thinner protection to match.
Is Saxo Bank safe to trade with?
The kitchen passes inspection: Saxo Bank cooks under MAS. A tier-1 regulator insists on segregated client money, negative balance protection and independent audits, while lighter offshore regimes offer weaker cover and often no compensation scheme. That does not make trading risk-free, so check which entity holds your account and what protections actually apply before you deposit.
Reader Comments
Loading comments...