Saxo at a glance
Short verdict: Saxo is a strong premium platform for global portfolios and active multi-asset trading. It is not one universal tariff or guarantee scheme: country, legal entity, account tier, market and product determine the result.
| Scope | Entity | Protection headline |
|---|---|---|
| Denmark and listed Saxo Bank A/S branches | Saxo Bank A/S | Danish cash and missing-instrument guarantee limits under published scope. |
| United Kingdom | Saxo Capital Markets UK Ltd | FCA client-asset rules and eligible FSCS claims under UK limits. |
| Other Saxo subsidiaries | Local legal entity | Local licence and compensation rules; Danish or UK limits do not transfer. |
Editorial verdict
Saxo earns its place on a serious investor shortlist through market breadth, research, SaxoInvestor and SaxoTrader. The trade-off is complexity: custody charges can apply, FX conversion and account tiers matter, and leveraged products sit beside long-term investments.
The neutral rating remains 8.4/10. Platform, research, regulation and asset breadth support the score; country-specific costs and a steeper learning curve limit it.
Decision summary
- Choose Saxo if you need a broad multi-asset portfolio and will use its research and platforms.
- Compare alternatives if your portfolio is small or custody and FX charges dominate expected returns.
- Main rule: price the exact market, tier and entity before opening the account.
Who Saxo is best for
- Experienced investors building global portfolios.
- Users combining stocks, ETFs, bonds or funds with approved derivatives.
- Active traders who need listed options, futures, forex or CFDs.
- Clients who value premium research and can manage account-tier pricing.
Entity and country matrix
Saxo Bank A/S, company 15731249, is supervised by the Danish FSA under banking licence 1149 and is designated a systemically important financial institution. Its licence page lists the parent and branches covered by the Danish guarantee framework, including the UAE, Czech, French, Belgian and Dutch branches.
Saxo Capital Markets UK Ltd is authorised by the FCA under firm reference 551422 and registered as company 7413871. Saxo also identifies subsidiaries in jurisdictions including Switzerland, Italy, Japan and Singapore that use local regulation and compensation arrangements. Onboarding documents determine the entity.
Stocks ETFs bonds and funds
Saxo offers broad access to stocks, ETFs and ETNs, bonds and mutual funds on supported markets. Official UK product pages advertise more than 23,000 stocks, 7,400 ETFs or ETNs and 5,200 bonds, but counts and availability change by country.
Cash products can still carry commission, custody, FX, market-data, transfer and tax costs. Fund provider charges remain even where Saxo commission is zero.
Options futures forex and CFDs
Saxo offers listed options, futures, forex and CFDs subject to jurisdiction, appropriateness, approval and margin. UK pages advertise options across more than 20 exchanges and over 250 futures contracts across more than 25 exchanges. These are not long-term cash investments and may lose more than the initial margin.
Crypto is not marked as direct owned spot crypto. Any crypto-linked instrument must be identified by its actual legal form and local availability.
Regulation and investor protection
For Saxo Bank A/S and the branches expressly listed in its published guarantee scope, eligible registered cash deposits are covered up to EUR 100,000. If Saxo cannot return financial instruments held in custody, eligible investors may receive up to EUR 20,000 for the missing value. These limits do not insure market losses.
In the UK client money and assets are held in segregated trust accounts under FCA rules. Saxo's current UK page states FSCS limits of GBP 120,000 for eligible deposit claims and GBP 85,000 for eligible protected investment-business claims. Eligibility, claim type and external-custodian structure matter.
International fees
The reviewed international Saxo Bank A/S schedule states currency conversion no more than plus or minus 0.25%. Where custody applies it lists annual rates for stocks, ETFs or ETCs and bonds of 0.15% Classic, 0.12% Platinum and 0.09% VIP, plus applicable VAT. It states no inactivity fee and a EUR 50 manual-order fee.
International pages advertise US stocks and ETFs from USD 1 and listed options from USD 0.75 per contract. These are starting prices, not universal totals. Market, tier, residence and local entity can change them.
United Kingdom fees
The current UK general schedule lists custody for stocks, ETFs or ETCs and bonds at 0.12% Classic, 0.12% Platinum and 0.08% VIP per year and states that residence matters. It lists currency conversion at 0.60% Classic, 0.40% Platinum and 0.20% VIP, no inactivity fee, a EUR 50 manual-order fee and stock transfer-out pricing of EUR 50 per line capped at EUR 160.
Current UK options pages show pricing by denomination and tier; for example USD contracts are USD 2 Classic, USD 1 Platinum and USD 0.75 VIP. Futures commissions and exchange charges are contract-specific.
Platforms and account tiers
SaxoInvestor is the simpler investing interface for cash products. SaxoTrader is the advanced multi-asset workflow with complex orders and margin products. Web, iOS, Android and desktop access are supported, while product and feature availability remains local.
Red flags to check
- A Danish guarantee limit is applied to a Saxo subsidiary outside its listed scope.
- UK fees are shown as international fees or the reverse.
- A starting commission is presented as the final cost.
- Custody, FX, market-data or transfer charges are ignored.
- Options, futures or CFDs appear without approval and margin risk.
FAQ
Does Saxo charge an inactivity fee?
The reviewed international and UK schedules state no inactivity fee. Check the local entity schedule.
Does Saxo charge custody fees?
They apply in several reviewed schedules and vary by country and tier. Check the trading conditions for the exact account.
Is Saxo protected by a deposit guarantee?
It depends on the legal entity. The Danish scheme covers Saxo Bank A/S and listed branches; UK accounts follow UK rules; subsidiaries use local schemes.
Does Saxo offer crypto?
Direct owned spot crypto is not marked available here. Crypto-linked exposure must be classified by its actual instrument and jurisdiction.
Sources and methodology
We reviewed official licence, protection, product, commission, custody, FX, options and futures pages. Claims are scoped to the legal entity, country, product and account tier.
Last checked and update policy
Last checked: 15 July 2026. Recheck after an entity, licence, guarantee limit, price tier, custody, FX or platform change.