Saxo Bank Review 2027Core Trading Conditions and Fees

Saxo Bank review 2027: a trading platform with a banking licence

Saxo was founded in Copenhagen in 1992 by Kim Fournais and Lars Seier Christensen and obtained a Danish banking licence in 2001. That status sets it apart from most online brokers. It is supervised as a bank, is classed as a systemically important financial institution in Denmark and serves well over a million clients, along with banks and brokers that use its technology under their own brands. In 2027 it remains the natural choice for investors who want forex, shares, bonds, futures and options together on one professional platform.

New ownership in 2026

The most significant recent development is a change of control. In March 2026 the Swiss private banking group J. Safra Sarasin completed the purchase of a majority stake of about 71% from Geely and Mandatum, and later in the year it moved to take full ownership. Founder Kim Fournais stepped down as chief executive to become chairman, and Daniel Belfer, a long-serving J. Safra Sarasin executive, took over as chief executive. For clients the change adds the backing of a large, conservatively run banking group. It also means the firm's direction over the next few years will be set by a new owner.

Regulation and client protection

Saxo Bank is regulated by the Danish Financial Supervisory Authority, and its subsidiaries hold licences from the UK's Financial Conduct Authority, the Monetary Authority of Singapore, the Australian Securities and Investments Commission, Switzerland's FINMA, Japan's FSA and others. Eligible deposits at the Danish bank are covered by the national guarantee scheme up to €100,000, and UK clients are covered by the FSCS within its limits. This is among the strongest protection frameworks available to a retail trader.

Product range

The platform gives access to more than 70,000 instruments. For currency traders there are around 185 spot pairs, plus forwards and forex options, a combination that few retail brokers provide. Beyond forex, clients can buy real shares and ETFs on dozens of exchanges, trade listed options and futures, invest in bonds and mutual funds, and use CFDs on indices, commodities and single stocks.

Pricing and account tiers

Saxo uses three tiers: Classic, Platinum and VIP. Pricing improves as account size grows. On the Classic tier EUR/USD is quoted from about 0.6 pips with no separate commission, and higher tiers receive tighter spreads. The firm cut its fees sharply in 2024 across shares, ETFs and other products, and it removed the minimum deposit for the Classic account in most regions. Costs for small accounts are now reasonable, although still above those of specialist discount forex brokers. Custody and currency conversion fees apply in some cases and are worth checking.

Platforms

SaxoTraderGO is the web and mobile platform, clean and capable enough for most investors. SaxoTraderPRO is a downloadable workstation with multi-screen support, advanced order types, algorithmic orders and detailed options tools. SaxoInvestor is a simplified interface for long-term investing. The platforms connect to TradingView and several third-party tools, and an open API is available. MetaTrader is not the focus here; the proprietary software is the main attraction.

Leverage

Retail clients in the UK and EU are limited to 1:30 on major currency pairs under local rules, with similar limits in other regulated regions. Professional clients can apply for higher leverage. Saxo is not a broker for traders seeking very high leverage or deposit bonuses, and it does not present itself as one.

Research and service

The in-house strategy team publishes daily analysis, quarterly outlooks and a well-known annual set of provocative predictions. Platform research includes news, screeners and analyst data. Customer service operates on weekdays, with higher tiers receiving a dedicated relationship manager and priority support. Service for the Classic tier is competent, though less personal.

Strengths and limitations

• Safety: a licensed bank under strict supervision with deposit protection.
• Breadth: more than 70,000 instruments, including forex options and bonds.
• Platforms: professional-grade proprietary software.
• Pricing for small accounts: improved, yet not the cheapest for pure forex.
• Leverage: conservative limits for retail clients.
• Ownership change: a new controlling shareholder since 2026.

Who is Saxo for?

Saxo suits experienced traders and investors who want many asset classes in one place and who value bank-level security. Larger accounts benefit most from its tiered pricing. A beginner with a few hundred dollars who only wants to trade currency pairs will find simpler and cheaper alternatives.

Verdict

Saxo combines the product depth of an investment bank with a platform that retail clients can use. With new ownership in place for 2027, it stays one of the most secure and complete brokers available. Trading leveraged products involves significant risk, whatever the strength of the institution behind them.

Saxo Bank review: compare the alternatives

This Saxo Bank review is part of our Top 65 Forex Brokers in 2027 ranking. To compare, read the OANDA review and the IG review.