Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from Saxo Bank review
About the broker
| Web: | https://www.home.saxo/ |
| License: | CySec ASIC FCA |
| Supported languages: | Czech, English and Polish |
| Year of foundation: | 1992 |
| Headquarters: | Philip Heymans Alle 15 2900 Hellerup Denmark |
| Methods of contacting customer support: | E-mail, phone, online chat |
| Contact: | LondonReception@saxobank.com +44 (0)207 151 2000 |
| Deposit methods: | Bank transfer, Debit and Credit Cards |
| Withdrawal methods: | Most likely the same as deposit methods |
About trading with Saxo Bank
| Minimum deposit: | 2000 USD |
| Min. trade: | 0.01 |
| Spreads: | Look at the spread table - typical spread on the currency pair EUR/USD is 2,0 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (182), shares (19000), commodities (19) |
| Demo account: |  |
| Mobile app: | |
| MetaTrader 4: |  |
| Other trading platforms: | SaxoTraderGO |
| Social trading: | |
Spreads & fees
Fees of most brokers change relatively often and unfortunately it is not in our possibilities to keep up-to-date information about fees at Saxo Bank, of course you can find current info on their website https://www.home.saxo/.
Typical spreads at Saxo Bank on standard account*
| EUR/USD | GBP/USD | USD/JPY | EUR/GBP | USD/CHF | EUR/JPY |
|---|---|---|---|---|---|
| 2,0 | 3,0 |
* Spread was taken 06.06.2019 at 09:33 from the web or trading platform of Saxo Bank.
Random reviews of competing CFD brokers: SmartPrimeFX, GKFX, Z.com and HankoTrade
Frequently Asked Questions
🧐 Is Saxo Bank a scam?
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. It will help you to determine if Saxo Bank is a scam or not.
🆓 How to open a free demo account?
Opening a demo account with Saxo Bank is very simple, just register on their website.
📱 Does Saxo Bank offer the best mobile app for trading?
Saxo Bank offers a mobile trading app and you can definitely start trading with it. It is very difficult and subjective to determine if they feature the best mobile platform. However, you are welcome to test it yourself.
We compared some reputable brokers and their mobile trading apps, check out the comparison and be saved from the hassle of testing the Saxo Bank mobile app.
⚖️ Would you recommend me Saxo Bank?
Saxo Bank is one of tens (possibly hundreds) of brokers operating in the European Union, Australia and United Kingdom, and that's why it makes no sense to choose Saxo Bank as a broker where you trade before you compare it with competitors.
We operate our website in full transparency, we recommend reliable brokers with an excellent reputation and we honestly admit to you that we receive commissions for that from these brokers. You can find the mentioned brokers in the table below with a clickable link to their site. You don't pay anything extra, you get a reliable business partner and you help us keep the website up and running. Thank you.
| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 |  | 10 USD | typical spread 3,0 pips | In-house built platform | CySec | iqoption.comreviewtypical spread EUR/USD*: 3,0 pips |
 | | 0 | typical spread 0,9 pips | In-house built platform, MT4 | FCA CySec | xtb.comreviewtypical spread EUR/USD*: 0,9 pips |
 | | 100 USD | typical spread 0,6 pips | In-house built platform | CySec | plus500.comreviewtypical spread EUR/USD*: 0,6 pips |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Comparing spreads, fees, trading platforms, regulations and reading dozens of user reviews of all popular FX and CFD brokers is very time-consuming for every trader. That is why we have done all this hard work for you so you could already only start trading with a company that features a quick modern trading platform, a large variety of assets and a quick customer service. From our comparisons, all these criteria are met by IQ Option - 85% of retail CFD accounts lose money - advertising partner.
That is why it is important to choose the right one. Choosing the right broker often stands between profit and loss. Don't you know how to choose? We have prepared an independent article for you, which will help you with your broker selection. You will get to know, what factors are important to watch out for when you are choosing a forex/CFD broker.
If you have any experience with Saxo Bank, please share it in the comments to help others to choose the suitable broker.