Is Saxo good for forex trading and how much do they charge?

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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 where you also get trading signals and post-trade analysis (which can “maybe” help improve your profitability).

But, if you are an advanced forex trader and want DMA access to currency futures contracts or want to trade forex options (either DMA or OTC) Saxo is one of the best forex brokers around.

The only downside is that compared to discount brokers like Interactive Brokers, Saxo can be a little more expensive. You can use our trading costs calculators to compare Forex trading fees.

Saxo Markets Forex Trading
Saxo Markets

Product Name: Saxo Markets Forex Trading

Product Description: Saxo Markets is an excellent forex broker suitable for experienced traders who want a robust forex trading platform with an institutional pedigree. The ability to trade on exchange forex futures or on-exchange FX options gives Saxo Markets the edge over most forex brokers who just offer CFDs or spot FX.


  • Forex pairs available: 84
  • Minimum deposit: £1
  • Account types: CFDs, futures & options, DMA, investing
  • Equity overnight financing: Tom/Next Swap +/-0.60%
  • Pricing: EURUSD 0.7, GBPUSD 0.7, USDJPY 0.7


Saxo Markets offers traders a choice of their own proprietary forex trading platform SaxoTraderGo, as well as MT4, although SaxoTraderGo, is in my view by far the better platform. You can view major forex pairs and rank them by performance, change of various timescales, volume on the bid/offer, market spreads.

Forex Trading Ideas

If you need trading ideas, in the standard FX watchlist you can also see emerging, bullist and bearish forex trading signals. Once you click on a signal (which is displayed based on the time scale, 1D, 4h, 30 mins etc.) an order ticket is created that gives the expected direction, the technical pattern name and type as well as the success probability, the quality of the signal and the option to add a stop loss or take profit limit. You can also filter Forex pairs, by percentage returns sub-categorising major, minor and exotic markets.


Saxo Markets forex trading research tab on the platform also provides insights from their analysts, about which markets are in focus and what economic indicators may have an upcoming affect on prices. They have also have good educational articles, videos and podcasts for those that want to learn more about forex trading risk management.

Forex Trading Platform

Despite being an institutional grade forex trading platform, I actually fine it one of the easiest to use, with the ability to drag and drop a forex pair between charting, options chains, research and your positions tab.

Saxo Markets Forex Trading Platform


  • DMA & on-exchange forex futures and options
  • Good forex analysis and research
  • Discounted forex pricing for large accounts


  • No forex spread betting
  • High minimum deposit of £500
  • Pricing
  • Market Access
  • Online Platform
  • Customer Service
  • Research & Analysis
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