69% of retail investor accounts lose money when trading CFDs with this provider.

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Saxo Capital Markets Review

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Having operated in the UK since 2006, Saxo Capital Markets is a forex and CFD trading broker that gives traders access to the major markets like currencies, indices, commodities and shares.

Saxo Capital Markets offers trading and investment solutions to 300+ banks, brokers and financial service providers around the world. It also serves clients in more than 170 countries and provides local phone support 24/5 whenever markets are open.

With a team of in-house trading strategists, Saxo Capital Markets shares its views on daily market-moving events, and support traders with educational webinars, research tools, and market analysis. Its trading platforms also provide traders with access to 35,000+ tradable instruments across a variety of major asset classes.

Saxo Capital Markets UK Limited is authorised and regulated by the Financial Conduct Authority and a subsidiary of Saxo Bank A/S.


  • Segregates client funds
  • Established in 2012
  • Regulated by Financial Conduct Authority
  • Min. deposit from $6,500


To open a live account, you’ll need a minimum deposit of at least $6,500. Alternatively, Saxo Capital Markets offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 551422). Saxo Capital Markets puts all client funds in a segregated bank account and uses tier-1 banks for this. Saxo Capital Markets has been established since 2012, and have a head office in Denmark.

Before we dive into some of the more detailed aspects of Saxo Capital Markets’s spreads, fees, platforms and trading features, you may want to open Saxo Capital Markets’s website in a new tab by clicking the button below in order to see the latest information directly from Saxo Capital Markets.

Visit Saxo Markets

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Saxo Capital Markets screenshot Open a demo account

69% of retail investor accounts lose money when trading CFDs with this provider.

What are Saxo Capital Markets's spreads & fees?

Like most brokers, Saxo Capital Markets takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on Saxo Capital Markets’s website. The colour bars show how competitive Saxo Capital Markets's spreads are in comparison to other popular brokers featured on BrokerNotes.

Saxo Capital Markets
EUR/USD (Average: 0.7 pips) 0.2 pips + $2.00 0.6 pips + $1.00 0.09 pips + $5.00
GBP/USD (Average: 1.1 pips) 0.2 pips + $2.00 0.9 pips + $1.00 0.38 pips + $5.00
USD/JPY (Average: 1.1 pips) 0.2 pips + $2.00 0.7 pips + $1.00 0.19 pips + $5.00
AUD/USD (Average: 0.8 pips) 0.4 pips + $2.00 0.6 pips + $1.00 0.17 pips + $5.00
USD/CHF (Average: 2.3 pips) 0.8 pips + $2.00 1.5 pips + $1.00 0.35 pips + $5.00
USD/CAD (Average: 2.9 pips) 0.8 pips + $2.00 1.7 pips + $1.00 0.27 pips + $5.00
NZD/USD (Average: 3.6 pips) 0.8 pips + $2.00 2.0 pips + $1.00 1.1 pips + $5.00
EUR/GBP (Average: 2.4 pips) 0.6 pips + $2.00 0.9 pips + $1.00 1.0 pips + $5.00

Spreads are dynamic and are for informational purposes only.

As you can see, Saxo Capital Markets’s minimum spread for trading EUR/USD is 0.2 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Saxo Capital Markets vs. similar brokers.

See all Spreads

How much does Saxo Capital Markets charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Saxo Capital Markets at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0.97. Here’s a rough breakdown of the fees and how this compares against IG & XTB .

Saxo Capital Markets IG XTB
Spread from: $ 1.00 $ 6.00 $ 2.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 1.00 $ 6.00 $ 2.00
$5 more $1 more
Visit Saxo Markets Visit IG Visit XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with Saxo Capital Markets?

Saxo Capital Markets offers over 19,269 different instruments to trade, including over 180 currency pairs. We’ve summarised all of the different types of instruments offered by Saxo Capital Markets below, along with the instruments offered by IG and XTB for comparison.

FX / Currencies Saxo Markets IG XTB
# of forex pairs offered 180 90 48
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies* No Yes Yes
Commodity CFDs Saxo Capital Markets IG XTB
# of commodities offered 70 34 21
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs Saxo Capital Markets IG XTB
# of stocks offered 19000 8000 1606
UK shares Yes Yes Yes
US shares Yes Yes Yes
German shares Yes Yes Yes
Japanese shares No Yes Yes
See Saxo Markets's InstrumentsSee IG's InstrumentsSee XTB's Instruments

What’s the Saxo Capital Markets trading experience like?

1) Platforms and apps

Saxo Capital Markets offer a user-friendly custom trading platform, available as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

Saxo Capital Markets Screenshot

Saxo Capital Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Saxo Markets's platforms

2) Executing Trades

Saxo Capital Markets allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Saxo Capital Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As a market maker, Saxo Capital Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Saxo Capital Markets offers its traders below.

Trading Features:

  • Allows scalping
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • ECN account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer

3) Client support

Saxo Capital Markets support a wide range of languages including Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish.

Saxo Capital Markets has a BrokerNotes double AA support rating because Saxo Capital Markets offer over three languages email and phone support.live chat and email support.

4) What you’ll need to open an account with Saxo Capital Markets

As Saxo Capital Markets is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Saxo Capital Markets’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Saxo Capital Markets you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results. *Availability subject to regulation.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://uk.saxomarkets.com/ on 01/10/2021.