62% of retail investor accounts lose money when trading CFDs with this provider
- Experts rate Saxo Singapore highly for its broad market access and advanced trading platforms, noting that it caters well to serious retail and professional traders. The platform is praised for its user-friendly interface and comprehensive educational resources, although higher trading costs for Classic accounts and stringent funding criteria for account upgrades are mentioned as drawbacks.
- Across 137 user reviews on Good Money Guide, averaging 4.2/5, customers frequently commend the platform's user-friendly design, extensive market access, and responsive customer service. However, some users express frustration with payment processing issues and account registration challenges, while many highlight the platform's advanced tools and educational materials as significant advantages.
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 Singapore across five key areas of our review framework.
- Pricing4.5
- Market Access5.0
- App & Platform5.0
- Customer Service4.5
- Research & Analysis4.0
Pros
- Broad market access backed by investment bank roots
- User-friendly and feature-rich platform
- Comprehensive education resources
Cons
- Higher trading cost for Classic trading accounts
- High funding or trading criteria for account upgrades
See full expert review
Our verdict
Saxo Singapore is best suited for serious retail and professional traders who want institutional-grade tools, broad global access, and premium service, though some features remain reserved for high-net-worth clients. Saxo Markets Singapore is a subsidiary of Danish investment bank Saxo Bank, a global brokerage firm founded in 1992. The Singapore branch was established in 2006, serving as the APAC regional headquarter. The company is regulated by the Monetary Authority of Singapore (MAS).
Who are Saxo, and what do they do in Singapore?
Saxo positions itself as a leading capital markets service provider backed by its advanced financial technology. Its trading platform offers access to a wide range of asset classes, including stocks, ETFs, bonds, derivatives and more.
Market access
Compared to other brokers in Singapore, Saxo Markets offers broader market access, owing to its investment bank roots. Clients can trade across multiple asset classes, including stocks, ETFs, commodities, bonds, cryptocurrencies, bonds, and derivatives - such as options, forex, and CFDs, totalling more than 71,000 instruments.
Pricing
Saxo’s trading costs differ depending on account types- Classic, Platinum, and VIP accounts - the higher the account tier, the lower the fees. Spreads on major FX pairs can be as low as 0.4 pips for VIP accounts, compared to 0.6 pips for Classic accounts. Cash interests apply to the VIP accounts as well.
However, there is funding criteria to be qualified as a higher-tier account. If clients want to be in a higher tier account upon account open, a Platinum account requires funding of SGD 300,000, and SGD 1,500,000 for a VIP account. Alternatively, clients can also be upgraded based on trading volume, which accumulates points towards higher-tier status.
Platforms
There are three trading platforms available for retail clients – SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. The SaxoInvestor platform is a web platform with basic functionality.
The most popular platform is the SaxoTraderGO, suitable for all levels of clients. The platform offers access to all asset classes, with product categories on top. It is clean, user-friendly interface with a default dark theme. It offers comprehensive charting tools, news & analysis section, an in-built economic calendar, dedicated client education content and access to live webinars.
What is the SaxoTraderGo trading platform like?
For advanced traders, the SaxoTraderPro provides high-performance tools with in-depth market analysis features. This is particularly for full-time and professional traders who require fast execution, more real-time market data. The platform supports Algorithmic orders and allow editing orders on charts. It also offers one-click switching for options trading across FX and stocks.
SaxoTraderPro’s order ticket
Research & Education
Saxo Markets Singapore offers regular webinars featuring CFDs, FX, futures, commodities, ESG investing and more to clients. I have to say the educational support is among the most systematic and well-structured available in the brokerage industry.
Additionally, there are timely market news and analysis, a podcast series for “Money Matters,” and basics for an investor/trader, such as platform guide, margin and leverage, and risk management.
Customer Service
Client services are available 24/5 on its trading platforms through live chat, a phone call or messages. However, most common queries can be also resolved quickly using the search function within the platform, which offers self-help options.
No wealth management services
Saxo Singapore has discontinued its SaxoWealthCare and SaxoSelect wealth management products for clients in the country.
The bank and trading platform will no longer offer its SaxoWealthCare and SaxoSelect solutions in Singapore from 10 December onwards.
Following the discontinuation of the products, Saxo Singapore has also extended different alternatives to clients. These include both options within and outside of Saxo’s offerings.
“Saxo Singapore regularly reviews our product offering and has come to the difficult but necessary decision to discontinue our wealth management offering,” the statement added.
“In this transitional period, our top priority is to ensure clients receive the support they require."
The update comes as 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 earlier this month.
Other parties interested in acquiring the firm include a consortium of Altor Equity Partners and Centerbridge Partners, which have submitted a non-binding bid.
On 2 October the bank rolled out its SaxoInvestor service for UK clients, providing access to more than 70,000 global instruments including stocks, ETFs, bonds and mutual funds.
Saxo also launched a US election trading hub in October, providing new clients access to commission-free trading of the most 100 popular US stocks.
Saxo Bank currently oversees around $120 billion of client assets globally, with its UK branch growing assets to around £2 billion last year.
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
Tina was a Market Analyst at CMC Markets from 2015 to 2024, providing client education, market commentary, and media presentations. She specializes in technical analysis and market fundamentals. Tina believes financial markets comprise a vast area reflecting economies, politics, history, psychology, and philosophy. As a result, her analysis is based on her interpretation of a specific country’s economic and historical background, alongside investor sentiment and behaviour.
Tina’s expertise has garnered recognition, with her commentary frequently quoted by reputable sources like Bloomberg, CNBC, Routers, WSJ, and AFR. Her insights span a diverse spectrum, covering various financial domains, including stock markets, foreign exchange, commodities, and cryptocurrencies. Previously, she also spent significant time with China Central Television. This experience allowed her to develop a deep understanding and insight into China’s economics and business.
