Saxo review: is it safe for gold trading?
Founded 1992 · Copenhagen, Denmark
- Score (other countries)
- Not offered
- Best score
- 76 · United Kingdom
- Tier 1–2 for you in
- 6 / 22 countries
- Trader Voice
- 55
- Platforms
- TradingView · Own
On this page
Is Saxo safe?
Saxo is a 34-year-old broker headquartered in Copenhagen, Denmark. The group has 7 regulated companies (Danish FSA, FCA, MAS, ASIC, SFC, FINMA, JFSA). How safe it is for you depends on which one opens your account: in 6 of the 22 countries we cover that is a Tier 1–2 regulated company.
Regulation and licences
| Company | Regulator | Regulator tier | Licence | Retail clients |
|---|---|---|---|---|
| Saxo Bank A/S | Finanstilsynet ↗ Denmark (EU) | Tier 1 · strictest | Pending check | Yes |
| Saxo Markets UK Ltd | Financial Conduct Authority ↗ United Kingdom | Tier 1 · strictest | Pending check | Yes |
| Saxo Markets Asia Ltd | Monetary Authority of Singapore ↗ Singapore | Tier 1 · strictest | Pending check | Yes |
| Saxo Capital Markets Australia | Australian Securities and Investments Commission ↗ Australia | Tier 1 · strictest | Pending check | Yes |
| Saxo Capital Markets HK Ltd | Securities and Futures Commission ↗ Hong Kong | Tier 1 · strictest | Pending check | Yes |
| Saxo Bank (Schweiz) AG | FINMA ↗ Switzerland | Tier 1 · strictest | Pending check | Yes |
| Saxo Bank Securities Ltd | Financial Services Agency ↗ Japan | Tier 1 · strictest | Pending check | Yes |
Each regulator name links to its own public register. Search the exact company name from your account agreement there before you deposit. How to verify a licence
Which company holds your account
Saxo assigns clients to different companies depending on where they live. This is the company, regulator and score you would get in each country we cover.
| If you live in | Your account is held by | Regulator | Score | Rank |
|---|---|---|---|---|
| Other countries | Not accepted | — | — | — |
| United States | Not accepted | — | — | — |
| United Kingdom | Saxo Markets UK Ltd | FCA T1 | A76 | 12 / 13 |
| EU / EEA | Saxo Bank A/S | Danish FSA T1 | A76 | 12 / 20 |
| Australia | Saxo Capital Markets Australia | ASIC T1 | B+70 | 15 / 20 |
| Canada | Not accepted | — | — | — |
| Singapore | Saxo Markets Asia Ltd | MAS T1 | B61 | 4 / 20 |
| Malaysia | Not accepted | — | — | — |
| Indonesia | Not accepted | — | — | — |
| Thailand | Not accepted | — | — | — |
| Vietnam | Not accepted | — | — | — |
| Philippines | Not accepted | — | — | — |
| India | Not accepted | — | — | — |
| Japan | Saxo Bank Securities Ltd | JFSA T1 | B61 | 6 / 21 |
| Hong Kong | Saxo Capital Markets HK Ltd | SFC T1 | B61 | 1 / 19 |
| UAE | Not accepted | — | — | — |
| South Africa | Not accepted | — | — | — |
| Kenya | Not accepted | — | — | — |
| Nigeria | Not accepted | — | — | — |
| South Korea | Not accepted | — | — | — |
| Turkey | Not accepted | — | — | — |
| Mongolia | Not accepted | — | — | — |
| Brazil | Not accepted | — | — | — |
Scores are provisional until our cost, news-spread and withdrawal tests are in. T1 = strictest regulator tier, T5 = company registration only. Licence details pending register check.
Trading gold with Saxo
- Platforms
- TradingView, Own platform
- Minimum gold order
- 0.01 lot (1 oz)
- Swap-free account
- No
- Minimum deposit
- $0
- Round-trip cost, 1 lot XAUUSD
- Not measured yet
- Spread widening at NFP
- Not measured yet
- Withdrawal time
- Not measured yet
- Overnight swap, 1 lot long
- Not measured yet
Cost, news-spread and withdrawal tests run on live accounts from our gold cost lab. Results appear here as each broker is tested. Gold pip value calculator · Margin calculator
Fees, deposits and withdrawals
What the broker publishes about deposits, withdrawals and fees. These are the broker’s own terms, collected from independent reviews and the broker’s pages, not our lab measurements.
- Minimum deposit
- 500 (Classic) in EUR/GBP/USD; Platinum 50,000; VIP 1,000,000
- Inactivity fee
- 25 EUR/GBP per quarter if you only hold cash; custody fees on stocks and ETFs
- Deposit fee
- None from broker
- Withdrawal fee
- Free online; 40 USD for a manual withdrawal form; correspondent bank fees may apply
- Withdrawal time
- Not stated by the reviewer; bank transfer
- Account types
- Classic · Platinum · VIP · Professional
- Raw account commission
- Tiered: lower spreads on Platinum/VIP; FX commission from 1.25 USD per lot on some products
- Payment methods
- Bank transfer · Visa/Mastercard
- A bank: retail cash deposits covered by the Danish Guarantee Fund up to EUR 100,000
- No MetaTrader; own platforms only
Checked 2026-11-05. Terms change; confirm on the broker’s site before you deposit.
Regulatory record
Fine2026 · Danish FSA · Saxo Bank A/S
DKK 313m (about USD 50m) fine for anti-money-laundering due-diligence and monitoring failures on white-label clients (2021–2023)
Source ↗Compensated breach2023 · ASIC · Saxo Capital Markets (Australia) Limited
One of seven CFD issuers that broke Australia's leverage limits (self-reported) and compensated clients; AUD 4.3m paid across the group
Source ↗
Fines and regulator orders in the last five years reduce the protection score: −4 each, up to −12. Self-reported breaches that were compensated, and public warnings, are shown but not scored.
Score breakdown
Saxo only takes clients in countries where it has a local company, so its score depends on the country. See the table above.
Pros and cons
Pros
- Retail clients can be served by Tier 1 regulated companies (Danish FSA, FCA, MAS, ASIC, SFC, FINMA, JFSA).
- In 6 of the 22 countries we cover, your account would sit with a Tier 1–2 regulated company.
- Can be traded directly from TradingView charts.
- 34 years in business.
Cons
- Licence details come from the broker’s own pages; our register check is not finished.
- Only accepts clients in the countries where it holds a local licence.
- Does not accept residents of 16 of the 22 countries we cover.
- No MetaTrader 5.
- No swap-free account.
What traders say
The Trader Voice score sits beside our expert score and is never mixed into it. It combines public review scores with ratings from our own readers.
Trader Voice
55
Expert score (best, United Kingdom): 76
Our readers
No reader ratings yet. Be the first below.
What reviewers praise
- Knowledgeable, courteous staff
- Real people on phone and chat
- Patient help with complex transactions
What reviewers complain about
- Long phone holds and slow replies
- Difficult withdrawals and strict payment rules
- Unexpected fees
- Compliance document requests and account freezes
…
Trustpilot scores reflect who a broker invites to review, so we temper them with the share of one-star reviews. Reader ratings count after an account is 72 hours old; one rating per account per broker. Full methodology and data rules
Trader evidence
What readers report from their own accounts: how long withdrawals took, complaints whose evidence our editors checked, and corrections to our data. Nobody can pay to remove a complaint.
Median withdrawal time
—
No reports yet
Arrived within 24 hours
—
Verified complaints
0
0 resolved
…
Questions
Is Saxo safe for gold trading?
Saxo is a 34-year-old broker headquartered in Copenhagen, Denmark. The group has 7 regulated companies (Danish FSA, FCA, MAS, ASIC, SFC, FINMA, JFSA). How safe it is for you depends on which one opens your account: in 6 of the 22 countries we cover that is a Tier 1–2 regulated company.
Is Saxo regulated?
Yes. Saxo Bank A/S is regulated by Finanstilsynet (Denmark (EU)). Saxo Markets UK Ltd is regulated by Financial Conduct Authority (United Kingdom). Saxo Markets Asia Ltd is regulated by Monetary Authority of Singapore (Singapore). Saxo Capital Markets Australia is regulated by Australian Securities and Investments Commission (Australia). Saxo Capital Markets HK Ltd is regulated by Securities and Futures Commission (Hong Kong). Saxo Bank (Schweiz) AG is regulated by FINMA (Switzerland). Saxo Bank Securities Ltd is regulated by Financial Services Agency (Japan). These details are from the broker’s legal pages and our register check is still pending.
Which countries does Saxo not accept?
Of the countries we cover, Saxo does not accept residents of United States, Canada, Malaysia, Indonesia, Thailand, Vietnam, Philippines, India, UAE, South Africa, Kenya, Nigeria, South Korea, Turkey, Mongolia, Brazil.
Does Saxo offer MT4, MT5 or TradingView for gold?
Saxo offers TradingView, its own platform. The minimum gold order is 0.01 lot.
Does Saxo have a swap-free account?
Not that we could confirm.
What is the Saxo minimum deposit?
$0 on the standard account, according to the broker.
Alternatives
See also
Best brokers by country
Data checked: November 2026 · Sources: [1]
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ratings are our opinion, based on the data and rules described in the methodology. They are not investment advice.