Saxo review

Key facts

Indicative figures — spreads are variable, commissions and minimum deposits vary by account type and by the regional entity serving you. Confirm current terms on Saxo’s website. Last reviewed: 2026-07.

Our verdict on Saxo

Saxo is a regulated Danish bank rather than a pure brokerage, offering listed futures and options on CME plus more than 71,000 instruments on one account. FX pricing at the Classic tier is wider than raw-spread brokers, so the appeal is the banking structure and breadth of listed products rather than the lowest cost of entry.

Watch out:Your client agreement is with the local Saxo entity for your country of residence, and protections and product access follow that entity rather than the group. Saxo also does not accept US retail clients.

Who the entity really is

Saxo is regulated as a Danish bank and designated a systemically important institution, with further authorisations from the Danish FSA, FCA, MAS, ASIC, FINMA and SFC. That banking status is the structural difference from most of this list: you are facing a supervised credit institution rather than a broker whose business is writing CFDs against client positions. It does not remove market risk, and it does not make any trade safer, but it changes the nature of the counterparty standing behind your cash and positions.

As with IBKR and IG, the group-level list is not a personal guarantee. Your agreement is with the local Saxo entity for your country of residence, and that entity determines your protections and which products appear on your platform. US retail clients are not accepted at all. The practical step is the same everywhere in this category: confirm the entity name on your agreement, then check what that specific jurisdiction provides, instead of assuming the strongest regulator in the list applies to you.

Pricing and market access

Classic-tier FX starts at around 0.8 pips, moving nearer 0.6 at the Platinum and VIP tiers. Against Pepperstone's or IC's raw-spread accounts, that is a wider entry cost, and traders whose edge depends on very low FX transaction costs will feel it. CME futures from about $1 per contract sit above Interactive Brokers' $0.85 and well above the $0.09 per side that NinjaTrader and Tradovate quote on their Lifetime plan. Saxo is not competing on price, and reading it as if it were leads to the wrong conclusion.

What you get instead is breadth on one account: listed futures and options on CME plus more than 71,000 instruments spanning stocks, ETFs, options and bonds, reachable through SaxoTraderGO, SaxoTraderPRO, TradingView integration and an OpenAPI. There is no spot crypto, so BTC, ETH and SOL exposure comes through ETPs and listed products rather than holding the asset. For a trader running index futures alongside a longer-term investment book, consolidating both in one regulated bank account is the argument that actually holds.