Saxo Markets is an FCA-regulated trading platform best known for its professional-grade tools, advanced charting, and deep market access. It’s designed for experienced traders who want institutional-level performance rather than a beginner-friendly app.
This review breaks down what Saxo Markets is really like to use. It covers fees, platform usability, research tools, mobile experience, and customer service, providing an honest picture of whether it delivers value beyond its reputation.
Each feature is rated using Sterling Savvy’s scoring system, combining real platform analysis, regulation checks, and user experience testing to help you decide if Saxo Markets is the right choice for your trading goals.
For more information on how we test view here.
This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at Investopedia, Investing.com, and Trading.biz.
How good is Saxo Markets overall?
Overall rating: ⭐ 5 stars
Saxo Markets ranks as one of the best trading platforms in the UK, offering an outstanding experience for advanced traders. It delivers a near-perfect trading interface, excellent research tools, and comprehensive educational content, making it ideal for serious investors.
However, its high fees may deter beginners or casual traders, and the platform doesn’t support crypto trading.
| Category | Points | Star rating |
|---|---|---|
| Fees | 8.6 | ⭐ 4.5 |
| Safety | 9.6 | ⭐ 5 |
| Onboarding | 9.7 | ⭐ 5 |
| Deposit & withdrawal methods | 8.6 | ⭐ 4.5 |
| Markets | 8.8 | ⭐ 4.5 |
| Tools | 9.6 | ⭐ 5 |
| Investment & trading platform | 9.8 | ⭐ 5 |
| Education | 9.6 | ⭐ 5 |
| Customer service | 8.7 | ⭐ 4.5 |
Pros
- Near-perfect trading platform
- Excellent selection of markets
- High-quality tools and educational content
Cons
- No crypto trading options
- Fees are relatively high
How much does Saxo Markets charge in fees?
Fees rating: ⭐ 4.5 stars
Saxo Markets offers competitive fees compared with other UK trading platforms and provides excellent interest rates on uninvested cash. Its updated pricing model makes costs easier to calculate and generally cheaper for active traders.
Trading fees
Saxo’s new fee structure makes it more cost-effective for investors:
- US stocks: minimum $1 (USD) per trade
- UK stocks: minimum £3 (GBP) per trade
- US futures: minimum $3 (USD) per trade
- Currency conversion fee: flat 0.25%
- No custody fee for ETF or stock trades
The platform also features a fee calculator, helping you estimate trading costs before placing an order.
Non-trading fees
Saxo Markets doesn’t charge any deposit, withdrawal, or account maintenance fees, which gives it an edge over brokers like eToro.
In addition, it pays interest on uninvested cash, typically between 3.41% and 3.91%, depending on your account tier and balance. However, you must hold at least £10,000 to qualify.
The main downside is a €120 annual inactivity fee for Classic accounts, which can add up for occasional traders.
Pros
- Recently reduced trading fees
- High interest on uninvested cash
- No deposit or withdrawal fees
Cons
- €120 annual inactivity fee
- Fees can be complex to calculate
- Custody fees for some stocks, ETFs, and bonds
Is Saxo Markets safe and trustworthy?
Safety rating: ⭐ 5 stars
Yes, Saxo Markets is one of the safest trading platforms in the UK, regulated by the Financial Conduct Authority (FCA) and backed by over 30 years of spotless financial conduct. It also holds a full banking licence, placing it under stricter supervision than most competitors.
Background
Founded in 1992, Saxo Bank has built a strong reputation for transparency and reliability. The company voluntarily publishes its financial statements, even though it is not publicly listed, allowing users to review its performance and capital strength.
Because it operates as a licensed bank, Saxo must meet rigorous capital and liquidity standards, adding another layer of protection for client funds.
Regulation and protection
Saxo Markets UK is FCA-regulated, meaning it must follow strict client protection and fairness rules. In the event of insolvency, UK traders benefit from FSCS protection up to £85,000.
However, negative balance protection—which stops traders from owing more than their deposits, is not available to UK users since Brexit, though it remains available in some EU regions.
Pros
- FCA-regulated and FSCS-protected
- Holds a full banking licence
- 30+ years of excellent financial conduct
Cons
- No negative balance protection for UK users
How easy is it to open a Saxo Markets account?
Onboarding rating: ⭐ 5 stars
Opening an account with Saxo Markets is fast, simple, and user-friendly. The process is fully digital, verification is quick, and UK investors can choose from several account types, including an ISA option for tax-free investing.
Account types
Saxo offers four account types for UK traders:
- Classic account: Best for most users, with access to all core features and no deposit fee.
- Platinum account: Designed for experienced traders, offering tighter spreads and better pricing. Requires a £200,000 minimum deposit.
- VIP account: Offers the lowest fees, a dedicated account manager, and exclusive events, but requires a £1,000,000 minimum deposit.
- Stocks and Shares ISA: Exclusive to UK users, allowing up to £20,000 in annual contributions with tax-free gains.
Opening an account
The onboarding process is straightforward:
- Complete the online registration with your name, email, and basic details.
- Take a short appropriateness test to confirm trading knowledge.
- Verify your identity using standard documents such as a driver’s licence or bank statement.
- Fund your account, which usually completes within 1–5 business days depending on your payment method.
Pros
- Multiple account types including ISA
- Simple and guided setup process
- Fast verification times
Cons
- Initial funding can take several days
What deposit and withdrawal methods does Saxo Markets offer?
Deposit and withdrawal rating: ⭐ 4.5 stars
Saxo Markets offers free and secure deposits and withdrawals, supporting a wide range of 26 base currencies.
However, the platform does not currently accept e-wallet payments such as PayPal or Skrill, which may limit flexibility for some users.
Supported currencies
You can choose from 26 base currencies, with your home currency set by default. Saxo also allows you to open sub-accounts in different currencies, helping to avoid conversion fees when trading global markets. This is a useful feature not commonly available on competing platforms like Interactive Brokers.
Deposits
Deposits can be made via:
- Bank transfer (wire)
- Credit or debit card
All deposits are free, and there’s no minimum deposit requirement, allowing you to start trading with any amount.
Credit and debit card deposits are usually processed instantly, while bank transfers can take several business days to clear.
Withdrawals
Withdrawals are also free and can only be made to a bank account in your name. Processing times are typically 1–2 business days, which is faster than many competitors.
Pros
- Free deposits and withdrawals
- 26 base currencies supported
- Easy process with sub-accounts available
Cons
- Bank transfers can take longer to process
- No e-wallet payment options
What markets can you trade on Saxo Markets?
Markets rating: ⭐ 4.5 stars
Saxo Markets offers access to a vast range of global markets, covering nearly every major asset class. UK traders can invest in real stocks, ETFs, CFDs, forex, options, futures, and bonds, making it a strong multi-asset platform. However, crypto and mutual funds are not available to UK users.
Real stocks and ETFs
Saxo provides access to 50 global stock exchanges and over 7,000 ETFs, allowing you to trade major international markets.
While this is impressive, it’s still below competitors like Trading 212, which offers over 12,000 ETFs.
CFDs
Saxo’s CFD offering is one of the most extensive in the UK, including:
- 7,800 stock CFDs
- 1,100 ETF CFDs
- 20 commodity CFDs
- Plus indices and other global instruments
This makes it ideal for active CFD traders seeking broad market coverage and competitive execution.
Bonds
Saxo offers nearly 6,000 bonds, including government and corporate issues. Bonds can help diversify portfolios and reduce volatility for investors seeking steady returns.
Options
Traders can access 20 global options markets, from Euronext to Hong Kong, covering equities, indices, and commodities. This breadth makes Saxo one of the best UK options trading platforms.
Futures
With 28 futures markets, Saxo allows you to trade a range of underlying assets, including commodities, currencies, and indices, well-suited for advanced traders.
Forex
Saxo is an industry leader in forex trading, offering 190 currency pairs, nearly double the number of most competitors. This includes majors, minors, and exotic pairs, making it one of the best forex brokers for UK traders.
Crypto and funds
While Saxo supports crypto and fund trading in some regions, UK users cannot access these products due to regulatory restrictions introduced in 2021.
Pros
- Wide range of asset classes
- Excellent CFD and forex selection
- Strong options and futures coverage
Cons
- Smaller ETF range than some competitors
- No crypto or fund trading for UK users
What trading tools does Saxo Markets offer?
Tools rating: ⭐ 5 stars
Saxo Markets provides one of the most advanced toolsets of any UK trading platform, combining powerful charting, in-depth research, and actionable market insights.
These tools cater to both beginners and professionals, though some premium features require a paid data subscription.
Charting tools
Saxo’s charting tools are exceptional, offering over 50 technical indicators and a built-in signal system that suggests buy or sell opportunities based on technical analysis. Charts are fully customisable, allowing you to edit, save layouts, and overlay multiple assets for comparison.
However, the mobile charting experience is more limited, making the desktop version preferable for detailed technical analysis.
Fundamental data
Saxo provides comprehensive fundamental data, among the best of any UK platform. Traders can access detailed information on company financial statements, ownership, historical performance, and valuation ratios.
This level of insight helps users make better-informed investment decisions and manage risk more effectively. Access to this data requires an Equity Market Data subscription, typically around £12 per month for Level 1 access, depending on the market.
News feed and market insights
A built-in Dow Jones news feed keeps you updated with global financial headlines and market trends. The ‘Inspiration’ tab and economic calendar add deeper context with expert articles, videos, and weekly outlooks.
Trading ideas
Saxo’s Market Analysis section provides daily trading ideas and strategy insights, plus a podcast series covering market themes. A standout feature is ‘Outrageous Predictions’, Saxo’s annual set of bold, speculative forecasts on potential market shifts.
Pros
- Professional-grade charting and indicators
- Excellent fundamental and market data
- Real-time news and daily trading ideas
Cons
- Charting tools less advanced on mobile
- Some data locked behind a subscription
How good is the Saxo Markets trading platform?
Platform rating: ⭐ 5 stars
Saxo Markets offers one of the best trading experiences in the UK, with powerful web and mobile platforms that are fast, intuitive, and highly customisable.
The platform’s clean design, strong functionality, and third-party integrations make it ideal for both casual investors and professional traders.
Web platform
The web platform features a sleek, dark-themed interface with clearly labelled navigation tabs and an excellent search function. You can easily find any asset, customise your workspace, and arrange tabs to match your trading style.
The layout is built for performance and clarity, providing access to advanced charts, real-time data, and one-click trading tools.
Mobile platform
Saxo’s mobile trading app mirrors the web experience, maintaining consistency and usability. It’s responsive, intuitive, and lets you manage trades on the go. While the charting tools are slightly less capable than on desktop, the mobile version remains one of the most polished trading apps available.
Making a trade
Placing trades on Saxo is straightforward. Simply select an asset to open the trade menu, then choose your order type (market, stop, or OCO) and time limit (GTC or IOC). The process is fast, clear, and suitable for both short-term and long-term investors.
User experience
Both platforms deliver a smooth and professional trading experience. The search tool, interface speed, and layout make Saxo ideal for day trading or portfolio management. You can also connect Saxo with third-party platforms like MetaTrader 4 (MT4) and MultiCharts, adding even greater flexibility.
SaxoSelect
Saxo also offers SaxoSelect, an AI-powered investment service that helps users create and manage portfolios automatically. It’s a useful tool for beginners, though it requires a £10,000 minimum investment and carries fees of up to 1%.
Pros
- Excellent mobile and web platforms
- Supports third-party tools like MT4
- Easy trade execution
- AI-powered SaxoSelect service
- Seamless continuity between web and mobile
Cons
- Some features perform slightly better on the web version
How good is Saxo Markets for education and learning?
Education rating: ⭐ 5 stars
Saxo Markets provides excellent educational resources designed to support traders at every level, from complete beginners to experienced investors. You can learn through articles, videos, and webinars, then apply your knowledge safely using a free demo account.
Learning content
Saxo’s education hub includes daily market insights from its in-house strategy team, helping you stay informed about global financial trends.
The learning materials cover everything from trading basics to advanced strategies, ensuring there’s value no matter your experience level.
Content is delivered through a variety of formats, including:
- Videos and webinars for visual learners
- Step-by-step articles and strategy guides
- Expert commentary on current market conditions
For a more structured experience, users can join the Saxo Academy, which provides deeper, course-style learning materials created by market professionals.
Demo account
Saxo Markets offers a free demo trading account that mirrors the live trading environment. It comes with £100,000 in virtual funds, allowing you to test strategies, explore platform features, and build confidence without financial risk.
Pros
- Free demo account for risk-free practice
- Wide range of learning formats (articles, videos, webinars)
- Suitable for all experience levels
Cons
- None
How good is Saxo Markets’ customer service?
Customer service rating: ⭐ 4.5 stars
Saxo Markets provides excellent customer support with quick response times, knowledgeable agents, and multiple contact options.
However, support is not available 24/7, which may be a drawback for traders operating outside standard hours.
Phone support
Saxo offers dedicated phone support, which performs well in both responsiveness and quality. Wait times are short, and the support staff are well-trained and professional, capable of resolving most issues efficiently.
Email support
Email support is equally strong. Replies typically arrive within one business day, and responses are clear, relevant, and solution-focused, providing confidence that issues are handled properly.
Live chat
The live chat feature allows users to connect with an agent in about one minute, with most queries resolved in just a few messages. Multilingual support is available, making Saxo more accessible for international users.
However, live chat is limited to Monday to Friday during business hours, unlike some competitors that offer full 24/7 support.
Pros
- Fast response times
- Helpful and professional agents
- Multilingual live chat support
Cons
- No 24/7 customer service availability
Who is Saxo Markets best suited for?
Saxo Markets is best suited for advanced and active traders who value professional-grade tools, market depth, and global investment access.
The platform offers institutional-level research, customisable interfaces, and a wide range of asset classes, making it ideal for users with trading experience.
It’s also a strong choice for high-net-worth investors thanks to account tiers like Platinum and VIP, which offer tighter spreads, lower fees, and dedicated support.
Beginners can still benefit from Saxo’s educational resources and demo account, but the complex features and higher fees may feel overwhelming for casual traders.
Best for:
- Experienced traders seeking advanced tools
- Investors managing large portfolios
- Forex, CFD, and options traders wanting global access
- Serious learners who value in-depth research and education
Final thoughts
Saxo Markets stands out as a premium, FCA-regulated trading platform built for serious traders who value depth, precision, and control.
Its tools, education, and market access are first-class, though fees and complexity may deter beginners.
FAQs
Is Saxo trading legit?
Yes, Saxo Markets is a legitimate trading platform operated by Saxo Bank, a licensed financial institution with over 30 years of proven history.
Is Saxo regulated in the UK?
Yes, Saxo Markets UK is regulated by the Financial Conduct Authority (FCA), ensuring strict compliance with UK financial standards.
Is Saxo good for beginners?
Saxo is better suited for experienced traders due to its complex tools and higher fees, though beginners can learn through its demo account and Saxo Academy.
Is Saxo trustworthy?
Yes, Saxo is highly trustworthy, holding a banking licence and strong track record for financial stability and transparency.
What are the risks of trading with Saxo?
Trading with Saxo involves market and leverage risks, especially when trading CFDs, where 80% of retail accounts lose money.
