Saxo Markets review

x

Leave a review

★ ★ ★ ★ ★

Your review

Your Name

Email

Next

Register to validate review

Return to Saxo Markets

Read Terms and Conditions here

Our verdict

Our verdict

We think Saxo Markets is a solid all-rounder. It’s got every product under the sun (over 36,000 stocks, bonds, ETFs, and more) and is a widely respected provider and Danish bank. When reviewing the platform, we discovered a wealth of information to help you invest, such as market analysis, webinars, and the latest news.

There are plenty of trading tools available, like charts and stock analytics, but if you’re more interested in a passive approach, Saxo Markets offers managed portfolios and investments. The minimum investment on the platform is £500, which is quite high.

Also, unless you’ve got a great deal available to invest (we’re talking more than £200,000), you won’t have access to the higher “VIP” tiers, which offer reduced costs and extra support. We think Saxo Markets has a lot to offer, but the target audience is those with more experience and larger portfolios.

Best for: Index funds

Pros

• Great range of overseas shares
• Lots of charts and research tools
• Plenty of educational tools available
• Invest in an ISA or pension

Cons

• Complicated fee structure
• High minimum investment (£500)
• Not an ideal platform for beginners
• Emphasis on trading over investing

★★★★★

Finder score

Go to site

Capital at risk

It’s designed for both new and experienced traders but better suited to those who have a decent understanding of different markets and assets. By providing access to global financial markets combined with 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 in our review, what you can invest in, and the fees to expect.

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

Go to site

Capital at risk

What products does Saxo have?

General investment account
Stocks and shares ISA
Lifetime ISA (LISA)
Pension (SIPP)
Keep in mind	Capital at risk. 65% of retail CFD accounts lose money
call to action	Go to site More Info

Saxo Markets has a few different account types available to invest in — you can invest as an individual investor, with someone else, or as a professional investor. We go into more details about the account types you can use with a personal account below.

Account types

You can invest in personal accounts as well as in a joint account, corporate account or professional account, depending on your circumstances.

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 2023/2024 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.

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.

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

What stock exchanges are available with Saxo?

Exchanges covered score	★★★★★
UK - London Stock Exchange
US - NASDAQ
US - New York Stock Exchange
Canada - Toronto Stock Exchange
Japan - Japan Exchange Group
Euronext
Germany - Deutsche Börse
Keep in mind	Capital at risk. 65% of retail CFD accounts lose money
call to action	Go to site More Info

Saxo has investments across a huge range of stock exchanges, including UK, US, Canadian and European shares, which covers off most companies you’d be able to name. There are 50 global exchanges available on Saxo, so this is merely a snippet of what it offers.

What financial instruments can I invest in with Saxo?

Saxo has a huge range of investment types available to trade, ranging from shares, which are quite simple, to futures and options, which are a little more complex. You can trade contracts for difference (CFDs) on these instruments, which are certainly not for beginners, who may be better off sticking to investing in shares, ETFs and funds.

Saxo ISA

A stocks and shares ISA is a tax-efficient way to invest, protecting most of your returns from tax and each year you can invest up to your annual allowance (£20,000 for the 2023/2024 tax year).

With a Saxo ISA, you get:

• 24/7 online access to 60 global exchanges
• Access to over 11,000 shares, ETFs, investment trusts and bonds
• Currency conversion charge of 1%
• View all your ISA investments with one login
• No withdrawal fees
• No seperate fees to regular account

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

Setting up a stocks and shares ISA with Saxo Markets is pretty easy. Before you get started, you must:

• Be aged 18 or over at the time of your application.
• Be a resident in the United Kingdom for tax purposes.

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

Saxo self-invested personal pension (SIPP)

The SIPP allows you to invest for retirement. It’s designed for investors who want full control over their pension investment strategy — you have the flexibility to choose what your pension is invested in.
Benefits of Saxo’s SIPP include:

• Get access to a large range of investments
• 1% FX fee
• Direct access to a personal account manager
• Equity research model to find detailed company information
• Access to both platforms

Saxo fees

Saxo charges different fees for different exchanges and investment types, which can be a little complicated at first — you can check out a detailed list of fees on its website, but we’ve provided some of the key ones above.

Saxo review: What else do I need to know?

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.

Saxo trading platforms

Saxo is unique in that it has a couple of different platforms to trade with — these offer different tools for different types of investors. The platforms are called 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

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.

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.

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