Risk Disclaimer >>
Ad disclosure Fintech-Insight stands firm in its mission to facilitate sound financial decisions for you. We forge alliances with specialists to provide the latest in news and facts. Engagement with designated links, sponsored entries, products and/or services, leading transfers to brokers, or promotional content might entail financial recompense for us. We pledge to protect our users from any negative repercussions arising from utilizing our site. Be informed that no content hosted here should be interpreted as authoritative in legal, tax, investment, financial matters or any expert counsel; it is meant for informational purposes exclusively. Should there be any concerns, securing the guidance of an independent financial consultant is recommended.

The trading industry is becoming more competitive every single day, with new projects for trading platforms being created daily. Competition between established online brokers is even more fierce, as each company is looking to attract more clients by offering innovative and user-friendly services.

Platforms are not created equal, and with a client base of over 800 000 traders, Saxo Bank outruns its competition by following high-quality standards and offering fantastic customer support. In this Saxo Bank Review, we will take a look at one of the established online brokers, in order to determine whether this is indeed the best trading platform for 2024.

What is an Online Trading Broker?

Online brokers like Saxo Bank are companies, which provide traders with the opportunity to trade and invest in different digital assets all in one place. Trading with such brokers has many benefits, including having access to trading tools and analysis, that make the trading experience much easier. With that in mind, you should choose the best trading platform for your trading goals and needs. Your pick should be determined based the brokerage’s attention to customers, attainance of high-quality standards, and of course several key featuers.

Key Features of Online Brokers

Although there are numerous financial instruments to pick from and lots of information to process, trading should be relatively easy. The presence of the following features in the platform of your choice guarantees that your trading experience will be more profitable and less stressful:

  1. Useful Trading Tools – The broker’s trading tools and platforms need to be user-friendly, easy to use, and offer services that provide successful results.
  2. Account Opening & Transactions Experience – One of the biggest turnoffs in the short term is a prolonged and complicated account opening process. On the other side, when a client constantly has to deal with unpleasant transaction limitations and fees, it creates a negative customer experience in the long run.
  3. Customer Service & Support – Having a friendly and helpful customer success team available 24/7 will be crucial if a client encounters a problem that must be fixed quickly.
  4. Research & Analysis Materials – Both beginner and more experienced traders will find a practical knowledge base helpful to advance their personal skills.

Overview of the Top 5 Online Brokers – Saxo Bank Comparison

Saxo BankeToroBinanceSaxo BankSwissquote
Brokerage FeesNo commission
No broker
Standard 0.1% feeCommissions start from 0.05%No fees;
there is a charge
of 0.85
Types of Accounts OfferedStandard
Supported AssetsCFDs
Stocks Commodities
CryptoIndices Options
Mutual Funds
Crypto and
Crypto-asset products
Overall Ratings4.8★4.1★4.4★4.8★4.5★

In-Depth Review of Saxo Bank for 2024  

Saxo Bank is an online Danish bank and trading platform with a long financial industry history, founded in the early 1990s. Some traders may be familiar with the brokerage under their first name – Midas Stockbroker Company, which was later changed to Saxo in 2001 when the company obtained a banking license. 

With many years of experience in the banking and online trading industry, this reputable online broker has set a standard for the quality of its services. You may be pleasantly surprised when you discover that this European trading platform offers many innovative features besides traditional aspects and products.

Saxo Bank Account Types 

The platform offers four types of trading accounts and three tiers, which we will closely examine in the sections below. The company takes great care of new clients and beginner traders by offering a free Saxo Bank demo account. It is recommended to open a demo account if you need to become more familiar with the trading industry. Additionally, if you are a trader looking to test the platform’s features, you can opt for a Saxobank demo account first.

Saxo (Standard) Account

For beginner traders, the Saxo account is a great entry option that does not lack benefits, including access to global markets, 24/7 support, and robust platforms. The Saxo Bank minimum deposit is $2000, making the standard account the best low-risk variation on the company’s website.

  • Joint Account –If you are planning to trade with the assistance of a family member, then this option will suit your investment needs the best. Both participants will have access to the Saxo Bank joint account and will be able to trade accordingly. To open such an account, both traders need to submit an individual application form and sign the joint account form.
  • Corporate Account –The corporate account comes with a dedicated expert account manager and 1:1 customer support available 24/7. Traders can get approved for less than a week and start trading with all 65 000+ tradable instruments from their corporate account.
  • Professional Account –For those who have been trading for a long time, the Saxo Professional Account will take their trading career to the next level. This account is for traders making more extensive deposits and wanting a higher leverage limit and tighter spread. There are specific criteria that clients need to meet to qualify for a pro profile, including a portfolio of at least $500 000.
  • Each account has three tiers – Classic, Platinum, and VIP and the higher the tier, the better customer experience you will receive. To select a trading tier, customers must make an initial Saxobank minimum deposit, starting from $2000 for a standard account, to begin trading.

How to register for a Saxo (standard) account in Saxo Bank – A Step-by-step guide for Begginers

To start your trading journey with Saxo Bank Online Broker in a matter of minutes, follow the simple steps we have prepared below:

Step 1: Register For an Account

Get started by clicking on “Open Account” in the top right corner of the website. You must fill in a short application form with your personal information and Saxo Bank login details.

Step 2: Fund your Saxo Account

After you verify your account and email address, you will be able to log in to Saxo Bank’s client portal, and once it is approved, you will be able to make a deposit. Pick from the convenient payment methods and make a Saxo Bank minimum deposit of at least $2000.

Step 3: Start Trading 

After you have completed all the steps above and your deposit has been processed, you are ready to start trading, with access to over 40 000 instruments and competitive prices.

Saxo Bank Supported Assets and Investment Options 

Saxo Bank offers over 200 tradable Forex pairs with flexible leverage levels and tight spreads. They also provide more than 60 000 Stocks starting from USD 0.01 in commission per share. On the broker’s list, you will also find a variety of digital assets, including ETFs, Features, Bonds, Mutual Funds, and of course, the most popular Cryptocurrencies.

An easy way to learn more about the instruments offered by Saxo Bank is to simply visit their official website, navigate to the “Products” section of the top left corner and choose investment products from the drop-down menu. You will also find a pricing overview for all the prices on stocks, ETFs, futures, bonds, and more.

Tools Offered by Saxo Bank

For a more positive and successful trading experience, Saxo Bank offers a wide variety of easy-to-use trading tools. With the SaxoBankGo trading platform, also available on mobile, clients get curated stock insights, trade signals, and the ability to analyze and optimize trades. The managed portfolio tool assigns market experts who manage a customer’s portfolio based on their tolerable risk level, with the final goal of long-term success. Most of the tools offered by the broker are entirely customizable, but the standard options will probably be a safe bet that is also extremely useful.

Saxo Bank Research Resources 

If you are looking for inspiration, trading ideas, and insights, Saxo Bank’s online broker website is the best place. In the “Inspiration” section, you will find many entertaining and valuable materials to help you learn and become a better investor. Saxo Bank provides high-quality research content posted on a daily basis, which is researched and created by their in-house professionals and strategists. Stay one step ahead with the company’s market forecasts, predictions, and regular news posts. Their Market Call Podcasts is also a fund and yet informative addition, from which you can learn the benefits of using trading instruments and how the market may affect you.

Saxo Bank Fees & Charges 

The trading platform’s account fees are definitely on the higher end, with a Saxo Bank minimum deposit of $2000 needed to start trading. The company is highly transparent with its services and pricing conditions, which can be found in the “Pricing overview” and “General charges” sections. In the table below, you can get familiar with the general broker’s fees and charges:

New Account Fee$2000 Minimum Deposit For a Classic Account
Deposit & Withdrawal FeeNone
Inactivity Fee$25 Fee After 3 Months of Inactivity
Administration FeeUp to $150 Fee for 6 Months of Inactivity

Saxo Bank – Mobile Apps for Both Beginner and Professional Traders

Offering award-winning services is what Saxo Bank specializes in, and its online trading platforms for desktop and mobile trading are not excluded from the rule. All clients can choose from two trading platforms, SaxoTraderGo and SaxoTraderPro.

The SaxoTraderGo is a beginner-friendly trading platform with a mobile app version available in the Apple App Store and Google Play. With various powerful trading tools, including fundamental and technical analysis, news and expert research, automated signals, and more, the application is undoubtedly one of the best for 2024. Traders can easily manage their accounts with detailed portfolio summaries and get insights into their performance with the help of many performance analysis features.

For a more advanced and professional trading experience, traders may pick the SaxoTraderPro version, which comes with more advanced trading tools. This fantastic package will give you an in-depth market analysis, order management tools, an algorithmic trading option, and over 50 technical indicators. The Pro app is completely customizable and can also be downloaded on IOS and Android devices free of charge.

Customer Support Team Of Saxo Bank

The Saxo Bank customer service team is available 24/7, and clients can contact them via chat, phone, or email. Details about the global office contact details can be found under the “Support center” section of the website. Looking at numerous Saxo Bank client reviews, the overall customer satisfaction from the company’s customer service agents is positive. 

Another convenient feature that may be useful to those seeking a resolution to their problem is the information base of the support center, which has many informative topics to read. You will also be surprised by the rich FAQ section, which includes the most popular client problems, and your questions may already be answered.

Saxo Bank Platform Review Summary

If you are still considering whether Saxo Bank is the right trading platform for your needs, we would like to take a closer look at the platform’s safety and its reviews. In addition to all its perks and benefits, the investment platform is one of the most trusted in the online trading niche. The broker is regulated by six international agencies, including the Australian Securities and Investments Commission and the financial conduct authority. 

More than 820 000 clients trade with Saxo Bank daily, with over 270 000 trades being executed daily. The client Saxo Bank reviews are positive, with an overall Trustpilot score of 4.3« for Europe. The online broker also states that 75% of retail investor accounts lose money when trading CFDs with their platform, which is an average score compared to other trading platforms. This means that the broker is a safe option to choose for trading.

Saxo Bank Review: Pros and Cons 


  • Beginner-friendly online trading broker
  • Both desktop and mobile trading are supported
  • Amazing customer service team available 24/7 through email and phone
  • Variety of digital assets to choose from
  • Four account types that meet the needs of any investor


  • The Saxo Bank minimum deposit of $2000 could be relatively high for beginner ivnestors
  • Fee of $200 for every added instrument to the platform
  • The trading tools are highly effective but could be hard to utilize and customize

Saxo Bank Review – Our Conclusion 

Our Saxo Bank review analyzed key aspects of the company’s services, including features, taxes, and tools. This brokerage firm has it all with various digital assets to trade on competitive taxes and fees to advanced tools for analysis and professional trading. The broker’s services’ various use cases, valuable learning materials, and different account types make Saxo Bank great for beginner and advanced investors. Traders also have the opportunity to open a Saxobank demo account, which makes this European broker user-friendly and one of the best online trading platforms for 2024.

Risk Disclaimer

Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.