Established in 1992, the Saxo brand today is one of the leading retail forex and multi-asset brokerages, with multiple regulated entities including Saxo Markets, regulated in the UK, and Saxo Bank, which is licensed and regulated as a Danish bank with its headquarters in Copenhagen. Saxo operates a number of other entities that are regulated across the world in major and emerging regulatory hubs.
Saxo Bank covers nearly every electronically traded asset class, providing spot FX, FX options, non-deliverable forwards (NDFs), Contracts for Difference (CFDs), stocks, stock options, Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs) including cryptos, futures, contract options, and bonds.
Saxo Bank caters to both retail and institutional clients, and provides wealth management and banking services through its related offerings. According to Saxo Bank Group’s 2017 Annual Report, the company had $1.97 billion in assets under management (AUM), and $17.39 billion in clients’ collateral deposits as of mid-2018, making it one of the top retail forex and multi-asset brokers globally.
In addition, Saxo Bank is part of the FX Global Code, whose mission centers around enhanced disclosures and execution statistics to promote integrity and transparency across the global foreign exchange market.
Trust Score
Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.
Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of Saxo Bank.
| Saxo Bank | |
|---|---|
| Trust Score | 94 |
| Year Founded | 1992 |
| Publicly-Traded Company (Listed) | No |
| Regulated in Major Hub | Yes |
| Regulated in Emerging Hub | Yes |
| Authorised in the European Union | Yes |
| CFTC Registered (USA) | No |
| FCA Regulated (UK) | Yes |
| IIROC Authorised (Canada) | No |
| FINMA Authorised (Switzerland) | Yes |
| ASIC Authorised (Australia) | Yes |
| SFC Authorised (Hong Kong) | Yes |
| MAS Authorised (Singapore) | Yes |
| FSA Authorised (Japan) | Yes |
| FMA Authorised (New Zealand) | No |
| CySEC Authorised (Cyprus) | Yes |
Offering of Investments
The following table summarizes the different investment products available to Saxo Bank clients.
| Saxo Bank | |
|---|---|
| Minimum Initial Deposit | $2,000.00 |
| Currency Pairs (Total Forex pairs) | 139 |
| CFDs - Total Offered | 9000 |
| Exchange Traded Securities: US | Yes |
| Exchange Traded Securities: International | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | No |
Commissions & Fees
As of early 2018, Saxo Bank is in the middle of rolling out a new pricing model, recently launched from its Asia-Pacific (APAC) offices, where the commission-free option has been removed. This move will help level the playing field across its pricing options as spreads were inherently wider on the commission-free (all-inclusive pricing).
Also part of the new pricing model, Saxo Bank aims to cater to active traders by implementing higher tiers and removing the minimum monthly commission spend, which will benefit traders who might not otherwise qualify for the full discount offered by a tier if their volumes don’t equate to the minimum commission spend.
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