Invest · Broker review

Saxo Bank

Premium multi-asset platform with strong FX pricing for large portfolios

Reviewed by Aayush Jain·Updated May 2026

Visit Saxo Bank Compare all brokers

Overall score

7.5/10

FX rank#12 of 20

FX cost / $10k$50

Conversion spread0.5%

Trading commission$1

Annual feeNone

Min investment$2000

$40 more per $10,000 than Interactive Brokers (FX cost only)

Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.

Verdict

Saxo is a premium platform for serious investors wanting access to 70,000+ instruments globally. Its FX cost (0.5%) is higher than IBKR but significantly lower than retail banks. Best for investors who value platform quality, research depth, and local support in key markets.

FX cost breakdown

Conversion spread

0.5%

Above mid-market rate

Fixed FX fee

None

Per currency conversion

Total FX cost / $10k

$50

Realistic all-in estimate

FX cost comparison on $10,000 investment

Interactive Brokers$10

Trading 212$15

Tiger Brokers$20

moomoo$25

Pros & cons

Pros

Access to 70,000+ instruments across 50+ exchanges
High-quality research and market analysis tools
Strong regulatory standing in multiple jurisdictions
SaxoTraderGO platform is cleaner than IBKR's TWS
Available to investors in UAE, Singapore, and most European countries

Cons

FX cost (0.5%) is 5× higher than IBKR
Minimum deposit of $2,000
Higher commissions than discount brokers
Custody fee applies on smaller accounts

Who can use it

UKEUSingaporeGlobal

Markets available

USUKEUAsiaBondsForexCommoditiesOptionsFutures

Supported corridors

GBP→USDEUR→USDDKK→USDSGD→USDAED→USD

Regulated by

Denmark

Finanstilsynet (FSA)

FCA

Singapore

MAS

UAE

DFSA (DIFC)

Frequently asked questions

Is Saxo Bank good for international investors?

Saxo is excellent for investors wanting broad market access and a high-quality platform. Its FX cost of 0.5% is higher than IBKR's 0.1% but lower than most banks. For portfolios above $50,000, the Classic account tier reduces commissions. Available in most countries outside the US.

What's the minimum deposit for Saxo Bank?

Saxo's minimum deposit is $2,000 (or equivalent) for a Classic account. Platinum accounts require $200,000. The account tier affects commissions — Classic charges higher per-trade fees than Platinum.