Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, has a banking background, and is regulated by top-tier financial authorities.
We selected Saxo Bank as Best forex broker, Best web trading platform and Best broker for research for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts. Check out the complete list of winners.
Saxo Bank pros and cons
The Saxo trading experience is driven by an excellent, well-designed trading platform. The research service is also superb, with Saxo’s proprietary research team constantly feeding trade ideas. Saxo has a wide-ranging product portfolio, meeting the needs of even heavy traders.
On the negative side, Saxo’s bond, options and futures trading fees are high. The minimum deposit is relatively high, ranging between $600-10,000 depending on your residency. There is no live chat customer support or 24/7 availability.