Saxo Customer Reviews & Expert Rating

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Customer Reviews

3.6

73 Good Money Guide reviewers have given this provider an average rating of 3.6 out of 5 based on their genuine experience.

Excellent23%
Very good29%
Average33%
Poor12%
Terrible3%

Four Stars

25th October 2024

Very efficient trading in world wide Shares, Funds and ETF’s

paul anthony rothwell

More compelted platfomr but more…

27th June 2024

More compelted platfomr but more asset/ivestment options

Giles Hodgson

4/5

20th June 2024
Timothy Hocks

Good experience so far

20th June 2024

Good experience so far

Mark Mackay

Sound

19th June 2024

Sound

Ian Day

Easy to trade with provision…

12th June 2024

Easy to trade with provision for options with stops and security features

John Smye

Basic trading platform, with a…

12th June 2024

Basic trading platform, with a wide range of stocks.

Michael Simpson

No comment

12th June 2024

No comment

Gary Towner

Easy to use with excellent…

12th June 2024

Easy to use with excellent pricing and range of equities across multiple markets

Steven Giddings

2/5

7th June 2024
John Binding

3/5

6th June 2024
Kristina Juodikyte

I find the website difficult…

29th May 2024

I find the website difficult manage and customer service substandard.

Ann MacMillan

x

28th May 2024

x

Norman Renshaw

too big

25th May 2024

too big

Aaron White

no thoughts

25th May 2024

no thoughts

Antony Deacon Lee

uk

25th May 2024

uk

Ben Johnston

Fantastic platform and really wide…

22nd May 2024

Fantastic platform and really wide choice of instruments – ability to get reports and track performance is superb

Matthew Wood

2/5

22nd May 2024
Susan Valentine

As above

22nd May 2024

As above

Sheriff Roderick

Good for US access

22nd May 2024

Good for US access

David Dinsmore

Expert Review
Good Money Guide Recommended 2025

Name: Saxo

Description: Saxo is one of the largest CFD brokers worldwide and provides direct market access to equities, bonds, forex, futures and options as well as being a major liquidity and infrastructure provider to wealth managers, banks and smaller brokers.
65% of retail investor accounts lose money when trading CFDs with this provider

Is Saxo Markets a good broker?

Yes, Saxo is a good choice for more sophisticated traders. The platform, analysis, and direct market access may be too complicated for beginners. But, for experienced traders its coverage, commissions and research are unrivalled.

Saxo Markets is an excellent trading platform for retail traders and investors who want institutional grade pricing, robust execution and wide market coverage.

Awards: Saxo won best investing app and best DMA/Professional account in 2024. Before that ,in our 2023 awards, Saxo won ‘Best CFD Broker’, and ‘Best DMA & Professional Trading Account’. In 2022 Saxo also scooped ‘Best Bond Broker’.

  • Pricing: Commissions have just been reduced further making Saxo one of the cheapest brokers
  • Market Access: Saxo offers a huge range of markets for both derivatives trading and physical investing
  • Platform & Apps: Saxo has an industry-leading robust workhorse of a platform
  • Customer Service: Experienced dealers for active larger customers
  • Research & Analysis: Some of the best opinions on the markets around.

Pros

  • Direct market access
  • Low commissions
  • Robust trading platform

Cons

  • Seen as a trading platform for professionals
  • Pricing
    (4.5)
  • Market Access
    (5)
  • Online Platform
    (5)
  • Customer Service
    (5)
  • Research & Analysis
    (5)
Overall
4.9

65% of retail investor accounts lose money when trading CFDs with this provider

Saxo Facts & Figures

Saxo Markets Total Markets
60,000+
➡️Forex Pairs190
➡️Commodities20+
➡️Indices29
➡️UK StocksOver 5,000
➡️US Stocks2,000+
➡️ETFsOver 6,400
Saxo Markets Key Info
👉Number Active Clients850,000
💰Minimum Deposit£1
❔Inactivity Fee
📅 Founded1992
ℹ️ Public Company
Saxo Markets Account Types
➡️CFD Trading✔️
➡️Forex Trading✔️
➡️Spread Betting
➡️DMA (Direct Market Access)✔️
➡️Futures Trading✔️
➡️Options Trading✔️
➡️Investing Account✔️
Saxo Markets Average Fees
➡️FTSE 1001
➡️DAX 301
➡️DJIA3
➡️NASDAQ1
➡️S&P 5000.5
➡️EURUSD0.7
➡️GBPUSD0.8
➡️USDJPY0.7
➡️Gold0.5
➡️Crude Oil0.3
➡️UK Stocks0.0005
➡️US Stocks$0.01 per share

65% of retail investor accounts lose money when trading CFDs with this provider

Commodities

Is Saxo a good commodities broker?

Saxo customers can trade a wide range of commodities as CFDs, futures, options, spot pairs or exchange-traded commodities (ETCs) with tight spreads, integrated Trade Signals, news feeds and innovative risk-management features. As a commodities broker Saxo offers one of the best trading platforms for retail and professional traders. For professional and institutional commodities traders, you

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Saxo Markets Review

Is Saxo a good options trading platform?

Yes, Saxo is one of the better value brokers for larger traders where you can trade stock options from USD 0.85, EUR 1 or GBP 1. Saxo Markets provides access to 1,200+ listed options from 23 exchanges worldwide, across equities, indices, interest rates, energy, and metals. Saxo options trading is one of the best things

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Saxo iShares UK Property UCITS ETF (IPRP) 

Is Saxo good for share dealing?

Yes, you can deal shares directly on exchange with Saxo. In fact, Saxo is one of the best DMA brokers for trading shares inside the bid/offer price as you can place your orders directly on the order book. Saxo’s platform has share dealing on more than 50 stock exchanges around the world with 22,000 shares

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Saxo Markets

Saxo UAE CFD Trading Review

Richard BerryRichard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape. Having worked as a broker at Investors Intelligence and a multi-asset derivatives

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Saxo Markets

Saxo UAE Forex Trading Review

Expert opinion: Saxo Markets reviewed & rated Richard BerryRichard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape. Having worked as a broker

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Saxo Markets Investing App

Is Saxo’s investing app good for longer term investors?

Yes, even though Saxo is traditionally a trading platform for short-term speculation on the markets going up or down. It is also an excellent choice for longer-term investors as Saxo is a very well-capitalised company, heavily regulated in the UK and all the regions they operates in, and has excellent customer service for small and

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Futures Brokers

Is Saxo good for futures trading?

Yes, Saxo is one of the best futures brokers we compare. I would say their major competitor for futures tradering is Interactive Brokers, which is much cheaper, but Saxo offers a better personal service. Smaller retail brokers like Plus 500 are moving into the futures trading industry (as opposed to CFDs) but that is only

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Forex Brokers

Is Saxo a good forex broker?

Yes, Saxo is excellent for forex trading, especially for sophisticated traders. I would say that if you are a small FX trader or just getting started you are better off with a broker like City Index or forex.com where you also get trading signals and post-trade analysis (which can “maybe” help improve your profitability). But,

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Saxo’s Trading App

Is Saxo’s trading app any good?

Is Saxo’s trading app any good? Yes, Saxo does have an app, and it is excellent, but compared to another institutional-grade platform like Interactive Brokers, it’s not quite as good. Saxo’s app is excellent for professional and institutional traders who want to trade DMA, and is essentially a mobile version of Saxo’s excellent TraderGo platform.

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Saxo Markets

Is Saxo good for CFD trading?

Saxo Markets won the “best CFD broker” in our 2023 and 2022 Awards as it offers the widest range of account types, market access and tradable assets. Overall, Saxo Markets is the best CFD trading platform suitable for traders with experience who need access to a wide range of markets and order types. When I

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Saxo Trading Demo

Is Saxo’s demo trading account any good?

Saxo  does have a demo version of its trading platform, but there are actually quite a few limitations and it is nowhere near as good as their industry-leading live account. So, I’ve tested the Saxo Trader GO demo and here I’ll highlight what I like and dislike about it. Saxo’s demo account lets you trade

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Indices

Is Saxo good for indices trading?

Yes, Saxo is one of the best indices brokers in our matrix as they offer DMA access to index futures, as well as OTC CFDs, and direct market access index options. If you are an investor rather than a trader you can buy index ETFs for longer-term exposure to all the stocks in major indices

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Saxo Markets

Saxo Trading Platform

Is Saxo’s trading platform any good? Yes, I’ve been using Saxo’s online trading platform for around ten years now and it’s evolved nicely over the years. The core functionality remains consistently high-end, whilst the front end is given a facelift every few years. Whilst Saxo Markets does offer MT4, it’s own proprietary trading platform (SaxoTraderGo) is a

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Saxo Markets Review

Saxo DMA Trading Review

Richard BerryRichard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape. Having worked as a broker at Investors Intelligence and a multi-asset derivatives

Read More »
General Investment Accounts

Is Saxo good for investing?

Expert opinion: Saxo Markets reviewed & rated Compare Saxo against other general investment accounts below: Richard BerryRichard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to

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How likely are Saxo's Outrageous Predictions

How likely are Saxo’s Outrageous Predictions for 2025 to happen?

Saxo has released its annual list of Outrageous Predictions for 2025 where the SaxoStrats look at potential market-moving events investors and traders may not be expecting. In this analysis, we take a look at five of them below and give our opinion on how likely they are to come to fruition. Facts are sometimes stranger

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Best CFD Broker - Good Money Guide Awards Winners 2024

Saxo wins Best CFD Broker at the Good Money Guide Awards 2024

Saxo won Best CFD Broker, at the Good Money Guide Awards 2024, as they have in the past, because they offer direct market access for trading contracts for difference (CFDs) on UK equities and global markets. Their platform provides low commissions and is a robust, institutional-grade trading solution. Richard BerryRichard is the founder of the

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Saxo Markets Review

Saxo Bank circled by bidders including Interactive Brokers

Saxo Bank has reportedly attracted acquisition bids from investors and rival platforms, including Interactive Brokers. Denmark-headquartered Saxo has seen interest from bidders such as Interactive Brokers Group, Bloomberg reported yesterday, citing sources with knowledge of the matter. Other parties interested in acquiring the firm include a consortium of Altor Equity Partners and Centerbridge Partners, which

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US Election

Saxo’s US election trading hub rolls-out commission-free US stocks

The launch of the Saxo US election trading hub also provides new clients access to commission-free trading of the most 100 popular US stocks. The hub also provides hand-picked investment shortlists for likely election scenarios. It also links to relevant US market news. The Saxo US election trading service has provided commission-free execution of trades

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Saxo Markets Review

Saxo cuts trading and investing fees

Saxo Markets has cut the fees it charges clients when they trade. A move that Saxo says is designed to empower investors, allowing them to make more of their returns. Commission reductions The broker has introduced what it called “substantial price reductions” cutting commission charges on UK shares US stocks ETPs ETFs Futures Options Saxo

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Saxo Markets Review

Saxo launches fund investing in the UK

Saxo is introducing dealing in mutual funds to its UK retail investors, who will now have the opportunity to invest in any of the thousands of funds that Saxo has selected, from leading money managers, such as Vanguard, Fidelity, BlackRock and JP Morgan. Saxo fund investing This new fund universe includes more than 500 equity

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Saxo Markets Review

Saxo Bank reduces minimum deposits to make account opening easier

Saxo Markets has reduced its minimum deposit requirements in more than 9 different markets. Traders in the UK, France, Singapore, Switzerland, Poland, Czechia, Slovakia and Australia, among others, will no longer be subject to a minimum deposit requirement when funding their accounts. Saxo Bank Markets removes minimum deposit Saxo may have removed its minimum deposit

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Saxo Markets Review

Saxo Bank receives a BBB investment grade rating from S&P

Danish-based broker Saxo Bank has received a coveted BBB credit rating from S&P. The bank which can trace its roots back more than 25 years, is also on the cusp of being recognised as a Systematically Important Financial Institution, or SIFI, in its home state, by the Danish Financial Supervisory Authority, the FSA. S&P BBB

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Saxo Markets Review

Saxo markets partners with Guotai Junan Securities in China

Saxo Bank has entered China via a strategic partnership with Guotai Junan Securities, one of the country’s largest investment banks and securities traders. The deal was structured by Saxo’s Singaporean division, Saxo Markets Singapore, which is run by CEO Adam Reynolds. Under the deal, Guotai Junan’s Chinese clients will gain access to Saxo’s global markets

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No dry January for Denmark’s Saxo Bank

Denmark’s Saxo Bank started the New Year on the front foot and had one of its best months over the last two years. Significant growth in margin trading The margin trading and multi-asset broker saw client activity levels grow by +21.0% month over month to $438.0 billion, a figure that eclipsed the previous high, posted

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Negative Interest Rates

Saxo introduces negative interest rates on certain larger balances

Danish CFD trading and investment house Saxo Capital markets announced it was to introduce negative interest rates on positive free equity balances in selected currencies from the April 1st and don’ts this wasn’t an early April fools. Negative interest rates have been a fact of life in parts of Europe for several years and in

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SaxoSelect

SaxoSelect: Saxo launches a range of seven funds managed by experts

Denmark’s Saxo bank has a history of innovation when it comes to the products and services it offers to its clients. This week Saxo Capital Markets has launched a series of managed portfolios which it calls SaxoSelect. There are seven funds to choose from and Saxo has collaborated with the likes of Morning Star, Nasdaq

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SaxoInvestor: Saxo goes mainstream and offers investment accounts

Saxo Bank, just announced it’s moving into the mainstream with SaxoInvestor. SaxoInvestor will focus on longer-term investment products like physical stocks, bonds, mutual funds, ETFs and SaxoSelect portfolios. Saxo Bank (or Saxo Capital Markets as they are known in the UK) have been gradually expanding from the professional and institutional client base that it is

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Saxo increases currency conversion charges

In a note to clients Saxo Capital Markets one of the more professional CFD brokers has increased the charges for converting one currency to another. One erk about having an account with Saxo is that the account generally automatically does currency conversions to your base currency. So if you make a profit in USD it

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Saxo introduces Order Driven Execution

No doubt as part of the “best execution” policy brokers must now adhere to Saxo has introduced order driven execution. In a nutshell, this means that client trades could be crossed up with other Saxo customers as well as secondary markets. Order driven execution will go live on the 15th Nov for SaxotraderGo clients and

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Saxo Markets FAQ:

Yes, Saxo Markets does act as a market maker for OTC products like CFDs. But, Saxo Markets does not act as a market maker if you are dealing in exchange products like listed options, futures or DMA stocks and shares.

No. Saxo used to offer a spread betting service through a partnership with London Capital Group. However, Saxo announced back in 2015 that it would be shutting down it’s spread betting service.  Clients of Saxo Spread Betting migrated to deal with Capital Spreads directly.

The Saxo spread betting services was a white label of the London Capital Group platform, whose own brand is Capital Spreads.

The news came after there were significant changes at London Capital Group with a reported 75% staff turnover since Charles-Henri Sabet took the reigns and focusses on building the spread betting and forex broker back to profitability.

There is was also a significant amount more competition in the spread betting industry than in 2009 when Saxo launched the service.  Increased competition and a decline in active spread betting clients may lead to more consolidation in the sector.  This may include more white-label contracts being cancelled (like City Spreads, another LCG white label) or acquisitions (like City Index by Gain Capital or Cantor Index to Spreadex).

It is free to have an account with Saxo Markets. However, there are some monthly fees for accessing live data on certain markets. There is a custody fee for holding physical shares, but there is no inactivity fee if you don’t trade.

For a Classic account there is no minimum deposit, but for Platinum accounts the minimum deposit is £200,000 and for VIP accounts the minimum is £1,000,000.

Beginners may find Saxo Markets a bit complex as they are more suited to experienced traders. However, beginners can still open an account and invest in the stock market without trading derivatives.

No. There is no fee to withdraw funds. However, to avoid delays with requesting funds back make sure your account information is completely up to date as Saxo Markets will have to comply with AML regulations before returning money.

Yes, to switch from limit order to market order on Saxo Trader GO follow these steps:

  • Go to the “Orders” tab at the bottom of the trading screen.
  • Find the order you want to change
  • Click the three dots on the right-hand side that look like this “…”.
  • Select “change to market order”
  • Approve the change on the confirmation screen.

Your order will be executed at the currency market price and your limit cancelled.

65% of retail investor accounts lose money when trading CFDs with this provider

65% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
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