Saxo Capital Markets Review: Saxo Capital Markets offers access to the markets around the global. Clients can trade physical shares, ETFs, futures and options as well as CFD (contracts for difference) on indices, Forex, commodities, fixed income and equities. Saxo Capital Markets also provide DMA (direct market access) and prime brokerage services to institutional investors.

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Saxo Capital Markets Good Points:

  • Excellent market access
  • Competitive pricing
  • Professional customer service

Saxo Capital Markets Bad Points:

  • No spread betting
  • Not suitable for accounts under £1,000

Saxo Key Features

Saxo Capital

Saxo was established in 1992, although the UK brokerage is not a bank (it's called Saxo Capital Markets). Saxo offer DMA (direct market access) to stock, futures and options and have their online trading platform. They mainly cater for experienced investors and as such the minimum account balance is £500.
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Saxo Capital Market ReviewsSaxo Client Reviews
Saxo Expert Review
Exclusive InterviewAndrew Edwards UK CEO
Trading PlatformsSaxo TraderGo & SaxoTraderPRO
Saxo UpdatesLatest Saxo Capital Markets News, Views, Reviews & Guides
Min Deposit£500
Saxo Account TypesCFDs, Forex, Stocks, Futures, Options, Bonds, ETFs, ISA & SIPP Prime Brokerage
Spread TypesFixed or variable
Funding MethodsCards, Bank transfer, Stock transfer
Customer SupportPhone, email, messenger (very professional and experienced staff)
Execution TypeSTP, Hedged, DMA, Internally matched
UK 100 Pricing0.8 points
Germany 30 Pricing1 point
Wall Street Pricing1.4 points
Bitcoin PricingCrypto ETFs
Ether PricingCrypto ETFs
EURGBP Pricing0.4 points
EURUSD Pricing0.4 points
GBPUSD Pricing0.4 points
Gold Pricing0.12 points
Oil Pricing5 points
Stock Pricing0.10%
FCA RegulatedYes - See status
Year Established1992
Active Clientsn/a
Markets available35,000+
Retail AccountsYes
Professional AccountsYes
Listed PLCNo
Country FoundedDenmark
Inactivity Fee$100 after 6 months
Overnight Financing Rates2.5% +/- Libor
Educational MaterialYes
Office Locations21
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Saxo Client Reviews

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Saxo Capital Markets
Average rating:  
 2 reviews
by James Taylor on Saxo Capital Markets
Saxo review
Online Platform (out of 5 stars): 5
Customer Service (out of 5 stars): 5
Fees & Pricing (out of 5 stars): 5

Very easy to use, the best trading platform out there today. 10/10

  • Trading Platform 5/5

  • Customer Service 5/5

  • Spreads & Pricing 5/5

by Pietro Carlucci on Saxo Capital Markets
Online Platform (out of 5 stars): 5
Customer Service (out of 5 stars): 5
Fees & Pricing (out of 5 stars): 4

Very happy with Saxo - platform does everything i need it to do. Pro platform is on a different level to other platforms. Use them for both trading and investment purposes.
Professional company with professional staff who know what they're talking about.

  • Trading Platform 5/5

  • Customer Service 5/5

  • Spreads & Pricing 4/5

Andrew Edwards Saxo Capital Markets UK CEORead our interview with Andrew Edwards, Saxo Capital Markets UK CEO 

It’s a company that just felt like it had a richer offering – before I joined, I saw them talk about being the better broker, and actually, they genuinely are. In a nutshell, when I joined, every one of those things that I thought Saxo was about has proved to be true.

How good is the Saxo trading platform?

Well, that really depends on what sort of trader you are. If you need vast market coverage, direct market access to work bids and offers, a bank of experienced dealers to work orders over the phone for you in reserve, then Saxo is great.  It's a true work horse, in particular, the options and OTC FX options boards.

If you are a private client you may be better off with something like ETX or IG as Saxo may be a little complex and heavy duty for jobbing around with short term positions.

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Saxo Mobile Platform Overview

Saxo is one of those brokers you've probably heard of but not really used.  They sit somewhere between prime broker for hedge funds and discount forex platform for private clients.  If you are a big hedge fund then Saxo is probably too small, but if you are a small private trader Saxo is probably too professional.

In the private client space the closest competitors would probably be IG who tend to cater for a more private client base. IG incidentally cater to hedge funds and also offer prime broker service with their IG Markets team.

Saxo is a social broker?

Like other social trading brokers (think ayondo and eToro) through Saxo's Trading Floor (opens new window) you can follow other traders and automatically publish your trades. It measures your profit and loss as a percentage so you can see how you rank against other clients.  Also if you are a budding hedge fund manager you could potentially use it as a first step to an audited track record.

How is Saxo's pricing compare to competitors?

Unlike other brokers Saxo charge a commission rather than widen the spreads. So when you trade DMA you get the true price and then a separate commission line is added to your statement. This does put some novice traders off as it's really an admin headache and many view widened spreads of spread betting brokers as a hidden cost (i.e. one they don't have to worry about).

But the commission rates are very good.  There are two levels, private client and institutional and you are charged depending on what type of client you are.  Of course, if you are a private client you get charged less for things like DMA access and live pricing.  If you are a high volume trader you can of course negotiate rates with Saxo.

Do Saxo do spread betting?

No, they used to have a white label with London Capital Group (LCG) but no longer offer it.

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