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Saxo Bank

Denmark Denmark
Forex, CFDs, stocks, futures, bonds · since 1992
FINMAFCACSSFDFSAwhat are these? →
4.4
/ 5 ★
RegulationFINMA, FCA, CSSF, DFSA
Min. deposit$0
Leverage1:1 – 1:30
PlatformsSaxoTraderGO/PRO
InstrumentsForex, CFDs, stocks, futures, bonds
Founded1992
🏛️ Which entity will open your account?
📍 Pick your country above and we'll tell you exactly which entity opens your account at Saxo Bank.
How is this decided and how do I verify it? →

Regulation by region

The entity you sign with — and your protection — changes depending on where you live.

United Kingdom
FCA regulated with FSCSMarket maker
Saxo Capital Markets UK Ltd (FRN 551422) — FSCS £85,000
European Union
Danish bank, FSA + guaranteeMarket maker
Saxo Bank A/S (Finanstilsynet, lic. 1149) — Danish Guarantee Fund €100,000 cash / €20,000 instruments
United States
Doesn't accept US residents
Doesn't provide service in the US; no CFTC/NFA entity
Australia
ASIC regulated, no compensationMarket maker
Saxo Capital Markets (Australia) Pty Ltd (AFSL 280372) — no compensation
Rest of the world
Tier-1 subsidiaries (SG/HK)Market maker
Saxo Markets Singapore (MAS CMS100131) / Saxo HK (SFC AVD061) — no compensation

All licenses

Every regulator where the group holds a license, with its execution model. The entity that applies to you depends on your country (see above).

DenmarkDanish FSARegulatedBankFinanstilsynet 1149
United KingdomFCARegulatedSTPFRN 551422
SwitzerlandFINMARegulatedBank
SingaporeMASRegulatedSTPCMS
AustraliaASICRegulatedSTPAFSL 280372
JapanJFSARegulatedSTP
Hong KongSFCRegulatedSTPAVD061

Account types

Classicbase account, low minimum deposit, standard spreads
Platinumreduced spreads and commissions for higher volume/balance
VIPbetter pricing, dedicated manager and access to events

Pros

✓Top-tier regulation
✓Funds with compensation scheme
✓Transparent operation
✓Good reputation

Cons

✗No MT4/MT5 (not usable for EAs)

Breakdown by axis

The total score (out of 100) is the sum of the 7 axes, with the same yardstick for everyone. Below each one, the rationale with its source.

Regulation: Top tier22/22 pts
Why: Danish BANK (Denmark FSA lic.1149) + FCA 551422 + FINMA + MAS. Serves most of the world under regulated entities (doesn't open US accounts or in some LatAm countries)
Withdrawals / payments: Isolated complaints10/20 pts
Why: regulated bank with no systemic denial; verification friction on Trustpilot (~3.5)
Fund safety: Full (with compensation)15/15 pts
Why: segregated + negative balance + Danish guarantee fund up to EUR100k (it's a bank)
Transparency: Clear10/10 pts
Why: listed bank; NOTE 2026 AML fine from the Danish FSA ~USD49M (internal process, not client fraud)
Reputation: Strong10/10 pts
Why: bank founded 1992; no client fraud
Costs: Average4/8 pts
Why: EURUSD from ~0.6 pip (Classic), 0.4 (VIP)

Sources

Don't take our word for it — check it yourself. These are the official registries and legal pages we relied on.

🔗 FCA registration — Saxo Capital Markets UK Ltd (FRN 551422)🔗 Saxo license details (Danish FSA lic. 1149)🔗 Saxo — Client Money Protection (FSCS / Danish guarantee)

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