Saxo Markets Review: What Makes This Online Brokerage Stand Out?

Saxo Markets Review: What Makes This Online Brokerage Stand Out?

An excellent, low-cost platform that offers great market access

Good for

  • Individuals seeking a low-fee brokerage with a great user interface
  • Investors seeking access to international markets

Bad for

  • Investors seeking to invest exclusively in international markets
  • Individuals particularly interested in CFD trading

Editor's Rating

5.0/5.0

Saxo Markets provides individual investors and traders with an excellent platform for investing in a variety of markets at a relatively low cost. This online broker charges commissions that are generally much lower than its competitors and offers a great user experience due to its intuitive interface.

Summary of Saxo Markets' Online Brokerage
Lower commission fees than most other online brokers
Great market access: trading in 36 global markets
Lower FX spreads than many competitors

Table of Contents

What Makes Saxo Stand Out to Investors

Saxo Markets (formerly Saxo Capital Markets) offers investors an excellent combination of low fees, wide ranging market access and intuitive user experience. For example, the platform charges just 0.08% for trades of Singapore stocks (min S$10), while others typically charge about 0.22%. Similarly, Saxo charges less the market average for international trades, while offering access to 36 international markets. Furthermore, it charges approximately 15-33% less to investors that qualify for its platinum (minimum funding USD 50,000) and VIP (USD 1,000,000) account tiers, which can be attractive to more active traders.


Market
ClassicVIPIndustry Average
Singapore0.08%0.08%0.22%
US0.06%0.04%0.27%
Japan0.15%0.10%0.32%
HK0.15%0.10%0.21%
EU0.10%0.05-0.08%0.31%
* Saxo min. SG: S$10; US:$3-$4; JPY1,000-1,500; HKD60-90; EUR6-12

Account Type
SingaporeUSJapanHong KongEURUK
ClassicN/A$3N/AHKD30EUR3GBP2.50
PlatinumN/A$2N/AHKD20EUR2GBP1.50
VIPN/A$1.25N/AHKD10EUR1GBP1.00

Account Type
Commission FeeMin. Fee
Classic0.20%EUR 80
Platinum0.20%EUR 60
VIP0.20%EUR 50
Available bonds include Euro, US, Emerging Markets and Corporate

Despite Saxo's low fees and wide ranging offerings, investors that are interested in trading CFDs or exclusively trading international or U.S. stocks may occasionally find better commission rates from one of the other leading online brokerages. However, these are very specific preferences, and Saxo's fees still tend to beat the market averages, which makes it the best option for most investors.


Instrument
Saxo ClassicSaxo VIPIndustry Average
US 301.41.42.1
Japan 225778.3
HK 50556.5

Currency
ClassicVIPIndustry Average
EUR USD0.60.40.7
USD JPY0.60.40.8
GBP USD0.70.41.0
AUD USD0.50.30.7
EUR JPY0.70.41.2
* figures based on min. advertised spreads

Investment Opportunities at Saxo

Not only does Saxo offer access to domestic and international equities markets, the brokerage allows investors access to bonds, ETFs, CFDs, futures and forex, equity and contract options. This makes it a great option for investors and traders that may want to use their online brokerage to purchase a variety of financial instruments.

Saxo Markets Investor Eligibility Requirements

Consider this if you want to trade any securities while minimising trading costs

In order to start trading with Saxo, individuals are required to fill out a form online and fund their account with either their credit card or via bank transfer. Investors can join either the Classic, Platinum or VIP account tier based on the amount they fund to their account. The classic tier requires $2,000 (or about S$2,715), while the minimum for the Platinum and VIP tiers are $50,000 (S$67,865) and $1,000,000 (S$1,357,312) respectively.

Account TierMinimum Funding
ClassicUSD 2,000
PlatinumUSD 50,000
VIPUSD 1,000,00

Saxo charges lower commission fees to its Platinum and VIP members, by about 15% and 30%, respectively. Platinum and VIP users also have access to a personal relationship manager, while VIP investors are offered a dedicated sales trader and one-on-one check-ins with the SaxoStats, the brokerages team of in-house strategists.

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