Saxo Markets

Saxo Markets review

Find out what we thought of Saxo and why it's respected in the industry.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Finder rating
★★★★★
Expert analysis
Low fees
Limited charting tools

Established in 1992, Saxo Bank provides an online platform to trade stocks, shares, contracts for difference (CFDs) and foreign exchange (forex). It’s designed for both new and experienced traders. By providing access to global financial markets, cutting edge technology and industry-leading expertise, Saxo aims to equip ordinary investors with the same tools as professional traders and fund managers. Find out more about what it offers, what you can invest in and some pros and cons of Saxo below.

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Saxo Markets Share Dealing Account

Trade financial instruments with Saxo Markets

  • Invest using award-winning trading platforms
  • Open a VIP account and enjoy best prices, priority support and exclusive event invitations
  • Access 19,000+ stocks
  • 24-hour customer service

What does Saxo Markets do?

Saxo’s aim is to provide everyday investors with the necessary tools, transparency and information to make educated, reliable and quick trades and investments online. It currently provides two award-winning online platforms that have risk management tools, the ability to make trades quickly and a 24/5 support centre to help deal with your problems and enquiries.

What accounts does Saxo trader have?

There are two different Saxo accounts, Saxo TraderGO and Saxo TraderPro. The former account is for day to day investors, while the Pro account is for professional investors. We’ve detailed some of the features of each account below.

SaxoTraderGO

Saxo TraderGO is suitable for investors on the go. Some features include:

  • Cross-device use – use your mobile, tablet and laptop
  • Stay up to date with access to a news feed, market data, economic releases and live charting
  • A fast, reliable and intuitive interface that allows for simple and quick trades

SaxoTraderPro

Saxo TraderPro is designed for professional investors. Some benefits include:

  • Turns your desktop into a sophisticated trading environment
  • Customise your trading environment to make it right for your needs
  • Advanced charts, technical indicators, instrument views and in-chart annotations

What can I invest in with Saxo?

Investment typeAvailable with Saxo?
US Stocks
UK Stocks
ETFs
Forex
Funds
Bonds
Options
Futures
Commodities

If you’re not sure what some of these financial instruments are, we’ve explained them in more detail below:

Is Saxo safe?

Saxo Markets has grown a reputation as one of the most respected names in online trading and investment.

Saxo Markets UK Limited is authorised by the Financial Conduct Authority (FCA) and is bound by its rules and regulations in the conduct of investment business.

Your investments are also covered by the Financial Services Compensation Scheme, so if Saxo Markets were to go into liquidation, you could claim up to £85,000 in compensation.

What products does Saxo have?

Saxo Markets has loads of different accounts available, depending on what you’re looking for in an investment account. We go into more details about what each account offers below.

  • Personal account
  • Corporate account
  • ISA
  • Joint account
  • Professional account
  • Self invested personal pension

Personal account

This account is Saxo’s general investment account. You can use it to access both Saxo TraderGO and Saxo TraderPro platforms. Most people choose to go with a general investing account if they have used up their ISA allowance for the year, which enables them to trade up to the annual allowance (£20,000 for the 2021/2022 tax year) without paying tax on any profits. Once you’ve hit your allowance, you can’t invest any more money into an ISA in that tax year. You can read about Saxo’s ISA below.

Corporate account

Saxo’s corporate account gives you access to the same instruments as the personal account, but you also get dedicated one-on-one support from one of its expert account managers.

You must already have a corporate bank account and deposit at least £100,000. You’ll also need to provide the following documents:

  • Memorandum and Article of Association
  • Certificate of Incorporation
  • Proof of the company’s business address if different to its registered address (e.g. a company bank statement or utility bill less than three months old and issued in the company’s name)
  • Latest financial statement
  • Group structure diagram (for entities within complex group structures only)

You also need copies of these documents for each beneficial owner with a 25% or greater company holding and each company director:

  • Passport
  • Proof of residency

ISA account

Individual savings accounts (ISAs) are a great way to invest, as you don’t pay tax on any profits you make on investments up to your annual allowance (£20,000 for the 2021/2022 tax year).

ISAs with Saxo host a wide range of benefits that include:

  • 24/7 online access to 25 global exchanges
  • Deal in eligible shares, ETFs, investment trusts and bonds
  • Currency conversion charge of 1%
  • View all your ISA investments with one login
  • Fund your ISA account with either new cash or cash from an existing Saxo trading account
  • Ability to withdraw cash at any time without being subject to penalty fees
  • Zero administration fees

Is it easy to set up a stocks and shares ISA?

Setting up a stocks and shares ISA with Saxo Markets is simple and easy to do. You must:

  • Be aged 18 or over at the time of your application
  • Be a resident in the United Kingdom for tax purposes or, if not a resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or married to, or in a civil partnership with, a person who performs such duties

    After this, simply visit the Saxo Markets website or apply by phone and set up your ISA.

    Joint account

    Saxo’s joint account lets you create an account with a family member. You can invest together, having the same access to the product ranges as you would with an individual account.

    Your family member must be first-line, such as spouses, siblings, parents and children and all applicants need to be at least 18 years old.

    Professional account

    If you’ve got appropriate experience, you might be able to classify yourself as an elective professional to waive regulatory protections that are on the standard account.
    To qualify, you must meet at least 2 of the following criteria:

    • Have a financial portfolio that exceeds €500,000
    • Have placed at least 10 relevant trades in significant sizes over the last 4 quarters
    • Work, or have worked, in the financial sector for at least 1 year

    Which protections are waived with the professional account?

    There are protections applied to your Saxo account automatically that are in place to protect those with less experience in investing. By applying for elective professional status, you waive these protections.

    • Leverage restrictions. You are able to trade with increased leverage.
    • Negative balance protection. Should your account fall into a negative balance, you are obliged to make additional payments. This means that your losses can exceed your deposits.
    • Product restrictions. You have no product restrictions imposed on you, as you understand the risks associated with trading complex financial products.
    • Standardised risk warnings. As you already understand the risks, you may not be provided with any standardised risk warnings.

    Self-invested personal pension (SIPP)

    The SIPP allows you to invest in your future. It is approved by HM Revenue and Customs and is designed for investors who want full control over their investment strategy. You have the flexibility to choose which asset classes your pension is invested in.
    Benefits of Saxo’s SIPP include:

    • Access to a large product range
    • Pay a 1% currency conversion fee
    • Direct access to a personal account manager
    • Equity research model allows you to find detailed company information
    • Access to both platforms

    Saxo account tiers

    There are three account tiers, each with benefits. You are placed into a tier based on how much funding is in your account.

    Classic

    Minimum funding: £500

    • Tight entry prices
    • Digital service and support
    • 24/5 technical and account support

    Platinum

    Minimum funding: £200,000

    • Up to 30% lower prices
    • Digital service and support
    • 24/5 technical and account support
    • Priority local language customer support

    VIP

    Minimum funding: £1,000,000

    • Saxo’s best prices
    • Digital service and support
    • 24/5 technical and account support
    • Personal relationship manager
    • Access to trading experts
    • 1:1 SaxoStrats access
    • Event invitations

    Saxo fees

    ProductCost
    StocksFrom £5
    CommoditiesFrom US$1 per lot
    ETFsFrom US$3 on US listed ETFs
    FuturesFrom US$1 per lot
    BondsFrom 0.05%
    Listed optionsFrom 0.85% per lot

    Pros and cons of Saxo

    Pros

    • Comprehensive platform with great charts and research
    • Negative balance protection
    • Lots of educational tools
    • Huge range of products and instruments available

    Cons

    • Charges differ between products and instruments, difficult to keep track of
    • Minimum investment is £500
    • No guaranteed Stop Loss feature

    Our verdict: Is Saxo any good?

    Saxo Markets is a pretty nice all-rounder. It’s got every product under the sun and is widely respected in its field, which gives you a bit of peace of mind when investing. It has a wealth of information to help you invest, such as market analysis, webinars and latest news.

    The minimum investment is £500, which is quite high for beginners, and unless you’ve got a great deal available to invest (we’re talking more than £200,000) then you don’t have access to the higher tiers, which offer a reduced price.

    Get started by visiting Saxo and opening an account. Still not sure? Compare other share trading platforms with our comparison table.

    All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

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