Saxo Markets: Official Review, Pros and Cons 2024

26 March 2024


  • 3 account types offered
  • 6 tradable asset classes
  • Favourable commission structure for active investors
  • Interests on uninvested cash with no lock-in period

pros Pros:

  • Authorised and regulated by the FCA
  • Broad access to global markets
  • Powerful, cutting-edge proprietary platform
  • Offering educational tools for clients

pros Cons:

  • Uncompetitive commissions for some markets
  • Inactivity fees
Fees and Costs:
Products and Markets:
Trading platform:
Tax regime:
Ease of use
Overall rating
73% of CFD accounts lose money

Reviews and insights: online broker SAXO Markets

Saxo Markets is a Danish investment firm founded in 1992 by Kim Fournais, the current CEO and shareholder. The major shareholder is Geely Financials based in Denmark. The company holds more than 876.000 clients worldwide and it’s fully regulated and licensed in 15 countries such as the UK, Japan, Hong Kong, Singapore, France, and Italy just to mention some.

More than 100 institutional financial service providers use Saxo Markets services and that makes the company soundly reliable.


Saxo Markets is registered as Saxo Capital Markets UK Ltd (SCML) and is authorised and regulated by the Financial Conduct Authority (FCA) with the Firm Reference Number 551422. It is a security and commodity contracts dealing activity service.

Segregated accounts are protected by the Financial Services Compensation Scheme and are separated from the bank's balance sheets/own money. In the unlikely event of a default by Saxo Markets, retail clients will have their funds returned from the client account rather than become creditors of the firm.

The Financial Services Compensation Scheme (FSCS) covers up to £85,000 in client compensation claims against it, including where there is a client money shortfall. The claim should be submitted to the Financial Services Compensation Scheme (FSCS). Saxo Bank also signs up the FX Global Code of Conduct that improves integrity and transparency.

The company has a BBB rating with a positive outlook.

The company has a deep commitment to protecting and safeguarding the information and funds of clients. The firm has a standard procedure for events like phishing of data, scam calls, and malware. In the support section, there is a page on “how to secure your Saxo Markets account” that will provide all the information needed to protect accounts.

Saxo Markets account

Saxo Markets offers 3 types of individual accounts: Classic, Platinum, and Vip.

The Classic has tight entry prices, best-in-class digital service and support, and 24/5 technical support on accounts. Min funding requirements £500

The Platinum has up to 30% lower price than the classic account, best-in-class digital service, and 24/5 support with a priority local language customer service. The Platinum account allows the opening of additional currency sub-accounts. Min funding requirements £200,000

The VIP account gives the best price, best-in-class- digital service, 24/5 support, and additional currency sub-accounts. The VIP accounts guarantee a personal relationship manager and also exclusive event invitations. Min funding requirements £1,000,000

Saxo UK allows the creation of Joint accounts in line with the majority of UK brokers.

The bank allows the creation of an ISA account for UK residents over 18 years for the sum of £20,000 and the profit will be free from capital gains tax and free from income tax on dividends either.

SIPP account with Saxo will grant  access to a personal account manager that will help in the creation of a personal pension scheme for different asset classes

The account has a sort of easy-to-open, easy-to-deposit, and easy-to-withdraw policy. One of their popular topics on the website is “Opening an account” which vastly covers the process of opening an account.

Also the “funding and withdrawals” and “using our trading platform” gives an easy explanation to fulfil all the info needed to open an account and link it to the proprietary platform.

US citizens cannot subscribe to Saxo Markets products and services to financial regulations constraints.

» What is the minimum deposit to open an account with Saxo Markets?

The minimum deposit with Saxo Markets varies depending on the type of account.

With the Classic account, the minimum deposit is £500.

With the Platinum account, the minimum deposit is £200,000.

With the VIP account, the minimum deposit is £1,000,000.

Author of the review:

Alfredo de Cristofaro author
Alfredo de Cristofaro
Graduated in Economics of Financial Intermediaries, after having worked for several years at one of the main financial brokers in Europe, he decided to make available to investors the knowledge gained over the years. On he's responsible of reviewing the stockbrokers, making sure that the highest standards of safety and transparency are guaranteed.
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