62% of retail investor accounts lose money when trading CFDs with this provider
- Experts rate Saxo Forex Trading Platform highly, particularly for advanced traders seeking direct market access to currency futures and options. The platform is praised for its user-friendly interface and comprehensive features, although it is noted that fees can be higher compared to discount brokers. Overall, it receives a strong rating of 4.6/5, with standout scores in market access and platform usability.
- Across 137 user reviews on Good Money Guide, averaging 4.2/5, customers frequently highlight the platform's ease of use, extensive market access, and professional customer service. Many users appreciate the comprehensive educational resources and tools available, while some express concerns about payment processing issues and account management for non-residents. Overall, the platform is seen as reliable and efficient for trading a wide range of assets.
Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Saxo Forex Trading Platform across five key areas of our review framework.
- Pricing4.5
- Market Access5.0
- App & Platform5.0
- Customer Service4.5
- Research & Analysis4.0
See full expert review
Our verdict
Saxo 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 the edge over most forex brokers who just offer CFDs or spot FX.
62% of retail investor accounts lose money when trading CFDs with this provider
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, 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 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.
Research
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.
Customer reviews for Saxo
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 137 reviews
- Excellent54%
- Very good19%
- Basic18%
- Poor7%
- Bad2%
Read customer reviews
Payment and client service chaos
Bank account registration system/deposits consistently fail - their systems cannot cope. Their new rule about not funding from or withdrawing to non-resident countries is absurd and they have ignored their own grace periods for compliance. Online withdrawals fail with the transaction logs disappearing within 24 hours. Withdrawals have to be processed manually and this takes at least one week. Their account restrictions come in too easily, and client service tickets yield no results at all unless you file a formal complaint. I have been trying to make withdrawals for over three months now and I am closing my account in exasperation.
Effective
Demands competence on part of investor - restricts access to asset types.
Professional
Large range of different markets.Execution,costumer service and deposits/withdrawals.
Consistent performance
Wide range of products, competitive and transparent pricing, great client service
Versatile
Saxo bank delivers a premium trading experience with vast markets access, advanced tools, and competitive fees. They are Professional and helpful all the way.
Strong Platform
A great platform with latest technology.
Professional
The Saxo platform provides access to all important stock and bond markets worldwide with professional execution and reasonable pricing.
A comprehensive global trading platform
Range of available product, accompanying research, trading educational materials, daily news. Not much more one could wish for.
professional
What stands out is how closely it resembles a professional trading environment. The interface is intuitive but not dumbed down, the charting is robust enough for serious technical work, and the order management feels precise — which is critical when you’re trading actively or managing risk intraday. Research is global and competitive.
It gives me exactly what I need: clarity, control, and confidence in execution.
Comprehensive
A really good, straightforward & easy to use platform with comprehensive market information and good articles about stocks and shares. Simple, efficient and cost-effective.
Great
Every single thing, from information to execution.
Swift
Complete package
Excellent
Transparent, accurate, well time tested being a trusted one along.
Reliable
Executes trades efficiently. Reporting great.
very good
The. Interface is easy to use and provide most of the information required ro make decisions
Professional
Analysis, information, data availabld
Easily usable
They make the site and app easy to understand and use
Great
Saxo
Comprehensive
Great UI with access to global markets
Service
Customer Service and platform ease of use
Saxo is excellent for forex trading, especially for sophisticated traders. For smaller FX traders, there are better forex trading platforms.
Richard 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 broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
