Saxo review

The account fee is €0 and the inactivity fee is €0, so there is no monthly or dormancy charge on the account. Money moves in and out at no cost, since deposits and withdrawals are listed as Free deposits and withdrawals. The costs sit in the trading itself.

A stock trade costs $1, which is above the median on the site and leaves Saxo ranked well down the cost order. Options work differently, at $2 per contract. Savers on dealing costs should compare narrower share dealing offers before committing.

The minimum deposit is CHF 0, so there is no barrier to opening an account. You can also try the platform first on a demo account, and fractional shares are available for smaller purchases. Newcomers can build a position in small steps.

Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority and the Financial Conduct Authority. Investor protection is EU ICS up to EUR 20,000, which covers eligible balances up to that limit if the bank fails. Head office is in Denmark.

The list covers stocks, etfs and forex. That spans listed shares, ETFs, bonds, funds, forex, CFDs, options and futures, so one account can hold a long term portfolio and a short term trade. Two platforms are offered, SaxoInvestor and SaxoTrader.

Saxo offers joint and corporate accounts, so the account types cover joint and corporate. A demo account is available for trying the platforms, and fractional shares let you hold part of a share. That suits couples investing together and companies managing their own funds.

Yes, the warning matters here. Saxo publishes that 64% of retail investor accounts lose money, close to the site median across comparable brokers. Leveraged products such as CFDs, options and futures add further risk, so position sizes need care.

The forex fee is 0.25%, applied on currency trades. That sits above the median among stock brokers on the site but below the upper quartile, so it is a middle ground rather a bargain. Currency heavy traders should weigh it against narrower spread brokers.