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Saxo Review
A premium multi-asset broker (Saxo Bank) with huge global market access and professional platforms. Strong for serious UK/EU investors.
Best for
- Serious UK/EU investors
- Global market access
- Multi-asset traders
Not best for
- You want the cheapest simple app
- You're a US resident
- You have a very small balance
Our verdict & scoring
Saxo is a Danish bank-backed broker known for extensive global market access — stocks, ETFs, bonds, futures, options and FX/CFDs — via its polished SaxoTraderGO/PRO platforms. It targets serious and higher-balance investors in the UK/EU; pricing has become more competitive but it's positioned as premium. In March 2026, J. Safra Sarasin Group completed the acquisition of a ~71% majority stake in Saxo Bank (founder Kim Fournais retains ~28%).
Scores are based on our review methodology. Affiliate relationships do not buy higher ratings.
Who should actually use Saxo
Saxo is aimed at serious UK/EU investors who want genuinely broad, global multi-asset access — stocks, ETFs, bonds, futures, options and FX/CFDs — through polished professional platforms (SaxoTraderGO/PRO). It rewards larger balances and active, multi-market traders. It's a poor fit if you want the cheapest simple app, you're a US resident (restricted), or you have a very small balance, given its premium positioning.
What we'd change
Saxo is positioned as premium, which makes it overkill for casual investors, and it isn't available to US retail traders. Watch the cost stack too: FX conversion fees, overnight financing on CFD/FX positions and custody fees on some markets can add up.
How it compares to Fidelity
Saxo and Fidelity rarely serve the same person — Fidelity is US-only, Saxo serves UK/EU. Where they differ in kind: Saxo offers far broader global, multi-asset access and more professional platforms, while Fidelity is simpler and cheaper for straightforward buy-and-hold. Both are well-regulated and institution-backed (Saxo is a Danish-regulated bank; Fidelity a large US broker).
Pros
- Vast global market access
- Bank-backed and well-regulated
- Professional platforms
Cons
- Premium positioning
- Overkill for casual investors
- US-restricted
Fees & hidden costs explained
Competitive tiered commissions; FX conversion and (for CFDs/FX) spreads and overnight financing apply.
Safety, regulation & availability
Parent Saxo Bank A/S is regulated as a bank in Denmark by the Danish FSA (Finanstilsynet); the UK entity, Saxo Capital Markets UK Ltd, is FCA-authorised (FRN 551422). ESMA/FCA leverage caps and negative-balance protection apply to retail CFDs. Not for US retail. Majority-owned by J. Safra Sarasin Group since March 2026.
Account protection: UK: FSCS up to £85,000 via the UK entity. EU/DK: relevant deposit/investor-compensation schemes.
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Frequently asked questions
Is Saxo safe and who regulates it?
Parent Saxo Bank A/S is regulated as a bank in Denmark by the Danish FSA (Finanstilsynet), and the UK entity Saxo Capital Markets UK Ltd is FCA-authorised (FRN 551422). UK clients have FSCS protection up to £85,000 via the UK entity.
Is Saxo available in the US?
No — Saxo is not available to US retail traders. It serves clients in the UK and EU.
Who owns Saxo?
J. Safra Sarasin Group completed the acquisition of a roughly 71% majority stake in Saxo Bank in March 2026; founder Kim Fournais retains around 28%.
What does Saxo cost?
Saxo uses competitive tiered commissions, with FX conversion fees, overnight financing on CFD/FX positions and custody fees on some markets to factor in.
Does Saxo offer a demo account?
Yes — Saxo provides a demo/paper-trading account on its platforms.
Official sources
Risk warning: Trading stocks, options, futures, forex, crypto, CFDs and funded accounts involves risk. You can lose money. This website is educational only and does not provide financial, investment, tax or legal advice.
Leverage, volatility, fees, spreads, liquidity and platform rules can increase losses.
Affiliate disclosure: We may earn a commission when you click some links on our site. This does not cost you extra. Our comparisons are educational and transparent, and our rankings are not affected by commissions.