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Risk Warning: 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.

4.4
/ 5

SAXO review

Updated on Dec 8, 2024
|
11 mins read

Overview

SAXO , formerly known as MIDA, was founded in 1992 and has, over time, quickly become a top player in the world of online trading and investments. With...
See full overview for SAXO
Countries
+65
Devices
Minimum deposit
No
Withdrawal fee
No
Deposit fee
No
Max insured
100000€
Our Verdict
4.4
/ 5
Commissions & Fees
4.8
/ 5
Deposit & Withdrawal
4
/ 5
Customer Support
4.8
/ 5
Account Opening
3.5
/ 5
Regulation & Safety
5
/ 5

Pros

  • SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.

  • Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.

  • SaxoTraderGo is equipped with all the necessary tools traders might need.

  • Corellian Academy content for risk management is a great addition to SAXO’s educational offerings.

  • Traders can connect their SAXO accounts to third-party platforms to access custom tools without additional charges from SAXO.

Cons

  • SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.

  • Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.

  • SaxoTraderGo is equipped with all the necessary tools traders might need.

  • Corellian Academy content for risk management is a great addition to SAXO’s educational offerings.

  • Traders can connect their SAXO accounts to third-party platforms to access custom tools without additional charges from SAXO.

  • High minimum deposit for some countries.

General details

Type of accounts
VIP accounts
Standard Accounts
Trading platforms
SaxoTraderGO
SaxoInvestor
Execution Model
ECN
STP
Deposit currency
AUD
CAD
CHF
CNY
EUR
GBP
HUF
HKD
CZK
DKK
JPY
NOK
NZD
SEK
SGD
USD
PLN
Regulatory complience
ASIC
FCA
JFSA
AFM
Deposit payment systems
Withdrawal payment systems
Support Languges
Arabic
English
Hungarian
Greek
Danish
Spanish
Italian
Chinese
Chinese
German
Norwegian Bokmal
Polish
Dutch
Romanian
Russian
Turkish
Finnish
French
Swedish
Japanese
Autotrading
SaxoSelect TradingFloor.com MT4 EA MT5 EA SaxoTraderGO SaxoTraderPRO
Contact details
+45 3977 5321

Customer reviews

P
Perry Williams
27 January 2023
Advantages: Great variety of trading instruments, good educational materials
Disadvantages: High trading fees
I've been working with this broker for almost a year already, and I'd say that overall experience is way better than with any other broker, but trading fees there are too high, compared to other brokers. If I were a novice trader, I wouldn't choose that broker because of the trading fees. But I can say that you have access to 60,000+ instruments, and I don't think that any other broker can provide that, it's a huge advantage. So I believe that choosing this broker can be a great option, trading conditions there are on point.
A
Ayden Clarke
4 October 2022
Advantages: Stability of the terminal operation Favorable trading conditions Training materials Quick and convenient withdrawal of earnings without commissions Fast verification High-quality analytics
Disadvantages: Terminal freezes and slips Inconvenient personal account
I like everything, except for a few intrusive employees. This also applies to those support who call themselves and offer unnecessary help, and managers who do not miss the opportunity to offer signals or some other nonsense. I need it. perhaps someone likes to be coddled and someone is bribed by such attention from the broker, as if you are a “golden” client, but I think this is superfluous. He asked me to get rid of the calls, it seems like they haven't been calling for several days. Otherwise, everything suits me. Orders work fine, I didn't notice any problems with the terminal. So far, more than half of my deals have been successful, I have withdrawn part of the profit twice - no questions were asked about this by the way. The speed is not mega fast, but I have no complaints, because within the framework of the regulations.
See all 15 customers reviews

Accounts

SAXO VIP
Availability of a VIP account
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Trading Platforms
SaxoTraderGO SaxoInvestor
Deposit currency
AUD
CAD
CHF
CNY
CZK
DKK
EUR
GBP
HKD
HUF
JPY
NOK
NZD
PLN
SEK
SGD
USD
Trading instruments
Forex
100
Number of currency pairs: 66
EGP
TZS
ZAR
ARS
BRL
CAD
CLP
COP
MXN
PAB
PEN
USD
UYU
AED
AMD
AZN
BHD
CNY
GEL
HKD
IDR
ILS
INR
JPY
KRW
KWD
KZT
MNT
MYR
OMR
PHP
PKR
QAR
SAR
SGD
SYP
THB
TRY
TWD
UZS
VND
ALL
BAM
BGN
BYN
BYR
CHF
CZK
DKK
EUR
GBP
HRK
HUF
ISK
MDL
MKD
NOK
PLN
RON
RUB
RSD
SEK
UAH
XPF
AUD
NZD
100
100
100
Cryptocurrencies
Execution type
market
Spread type
Floating
Decimal places
4
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Saxo Platimun
Test 1
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
SaxoInvestor SaxoTraderGO
Deposit currency
AUD
CAD
CHF
CNY
CZK
DKK
EUR
GBP
HKD
HUF
JPY
NZD
NOK
PLN
SEK
SGD
USD
Trading instruments
Forex
100
Number of currency pairs: 52
ZAR
ARS
BRL
CAD
COP
MXN
PEN
USD
UYU
VEF
AED
AMD
AZN
CNY
GEL
HKD
IDR
ILS
INR
JPY
KRW
KZT
MNT
MOP
MYR
OMR
PHP
PKR
QAR
SAR
SGD
THB
TRY
TWD
VND
BYN
BGN
CHF
CZK
DKK
EUR
GBP
HUF
NOK
PLN
RON
RUB
SEK
UAH
XPF
AUD
NZD
100
100
100
Cryptocurrencies
Execution type
market
Spread type
Floating
Decimal places
4
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
SAXO Classic
Test 2
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
SaxoInvestor SaxoTraderGO
Deposit currency
USD
EUR
AUD
CAD
CHF
CNY
CZK
DKK
GBP
HKD
HUF
JPY
NOK
NZD
PLN
SEK
SGD
Trading instruments
Forex
100
Number of currency pairs: 36
ZAR
ARS
BRL
CAD
MXN
USD
AED
AMD
AZN
CNY
GEL
HKD
INR
JPY
KRW
SGD
THB
TRY
TWD
VND
BGN
CHF
CZK
DKK
EUR
GBP
HUF
NOK
PLN
RON
RUB
SEK
UAH
XPF
AUD
NZD
100
100
100
Cryptocurrencies
Execution type
market
Spread type
Floating
Decimal places
4
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Currencies
390
Commodities
25
Cryptocurrencies
30
ETF
200
Futures
500
Indices
50
Stocks
50000
Bonds
10000
Options
1000

Frequently asked questions

Is SAXO a Scam?

SAXO is a legitimate and reputable financial institution providing its services for over two decades. Top-tier financial authorities regulate it and operate in over 180 countries globally. Based on the available facts, SAXO is not a scam. It is a trustworthy financial institution that provides high-quality services to its clients while adhering to strict regulatory requirements.

How do I open a SAXO trading account?

Opening a new account with SAXO is a straightforward process that requires some personal information from the trader and identity verification. Visit the platform’s website to start the registration process.

Can I open a SAXO account in the US?

As of now, residents of the United States cannot open an account with the SAXO Broker since the platform does not accept clients from the country. This is due to regulatory restrictions which can be complex.

SAXO compared with alternative brokers

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
SAXO
  • Best for Advanced Trader
  • Proprietary trading platform
  • Multiple regulations
  • Wide range of trading Instruments
  • 4.4
    / 5
  • 4
    / 5
  • No
  • 1:100
  • 4.8
    / 5
  • N/A
  • N/A
  • 5
    / 5
  • ASIC, FCA, JFSA, CySEC, FINMA
  • Yes
  • See review
  • 3.7
    / 5
  • 3.8
    / 5
  • $100
  • 1:400
  • 3.2
    / 5
  • $0
  • $0
  • 4.2
    / 5
  • ASIC, CBI
  • Yes
  • See review
IG Group
  • Free VPS hosting
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • 4.1
    / 5
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.7
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • ASIC, FCA, BaFIN, CONSOB, CNMV, AMF
  • Yes
  • See review
  • 4.4
    / 5
  • 4.3
    / 5
  • 20 USD
  • 1:500
  • 4
    / 5
  • N/A
  • N/A
  • 4.2
    / 5
  • FIU
  • No
  • See review
XM
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.5
    / 5
  • 4.6
    / 5
  • $5
  • 1:888
  • 4.3
    / 5
  • $0
  • $0
  • 4.7
    / 5
  • ASIC, FSC, CYSEC
  • Yes
  • See review
Alpari
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.5
    / 5
  • 4.5
    / 5
  • $5
  • 1:1000
  • 4.5
    / 5
  • $0
  • $0
  • 4.5
    / 5
  • No
  • No
  • See review
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