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Saxo Bank accounts: which entity holds your money

The account you open decides which legal entity and which regulator stand behind it. Here are Saxo Bank's accounts with that in mind.

Regulation: Danish FSA; FCA; ASIC; FINMA; MAS; JFSA; SFC Hong Kong; DFSA; AMF/ACPR and other European regulators. How Saxo Bank is regulated

Facts last checked . Read the full Saxo Bank review.

Accounts

Minimum deposit
$0
Account types
Classic, Platinum, VIP, Professional, Corporate, Joint, Demo
Account currencies
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD and other regional currencies
Islamic account
No
Demo account
Yes
Professional account
Yes
Minimum trade size
1,000 currency units / 0.01 lot equivalent
Time to open
Usually a few minutes

What this means

Saxo Bank runs 7 account types. More choice is not automatically better: the tightest headline spread almost always sits on the account that also charges a commission, so the comparison that matters is the two added together.

Base currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD and other regional currencies. Holding the account in the currency you fund it with avoids a conversion charge on every deposit and withdrawal - a cost that never shows up in a spread comparison.

The smallest position is 1,000 currency units / 0.01 lot equivalent. For anyone starting carefully this matters more than the minimum deposit, because it sets the least you can put at risk on a single trade.

A demo account is available. Worth using for the platform rather than the results: fills are simulated, so it tells you how the software behaves but very little about execution.

Questions about Saxo Bank accounts

Which base currencies does Saxo Bank support?

Saxo Bank accounts can be held in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD and other regional currencies. Holding the account in the currency you deposit avoids a conversion charge on every deposit and withdrawal.

What is the minimum deposit at Saxo Bank?

The minimum deposit at Saxo Bank is $0. It can differ by account type and by the entity you register with.

What account types does Saxo Bank offer?

Saxo Bank offers 7 account types: Classic, Platinum, VIP, Professional, Corporate, Joint, Demo.

Accounts at brokers under the same regulator

More about Saxo Bank