Saxo regulation & licences
Our take
Saxo Bank is a Danish bank founded in 1992 and supervised by the Danish FSA, with group entities licensed in the UK, Australia, Singapore, Switzerland, Japan, Hong Kong and the Netherlands. Because it is a bank, cash deposits at the Danish entity fall under Denmark's deposit guarantee scheme. Saxo offers forex alongside tens of thousands of stocks, bonds, futures and options.
Best suited to: Multi-asset investors who want a bank-grade counterparty
Licences on record 8
1 Tier 1 — top-tier regulation
2 Tier 2 — strong regulation
Licences are matched from public sources and regulator registers, and entities change over time. A licence held by one company in a group does not cover clients of another. Always confirm on the official register.
Regulatory profile
Saxo is a trading bank founded in 1992 and headquartered in Denmark. It is part of Saxo Bank A/S.
In our database Saxo is matched to 8 licences from ASIC, FCA, FINMA, JFSA, MAS, SFC, AFM and Finanstilsynet (DK). Most importantly, the ASIC (Australia), the FCA (United Kingdom), the FINMA (Switzerland), the JFSA (Japan), the MAS (Singapore) and the SFC (Hong Kong) are among the regulators we classify as tier 1 — bodies with strict capital, client-money and conduct rules.
Depending on the entity, eligible clients may be covered by FSCS (FCA), esisuisse deposit protection up to CHF 100,000 (bank-licensed brokers) (FINMA) and Investor Compensation Scheme (AFM). Negative balance protection is mandatory for retail clients under ASIC, FCA, AFM and Finanstilsynet (DK) rules. Retail leverage caps apply at the ASIC, FCA and FINMA-regulated entities (for example 30:1 on major FX pairs at ASIC).
Saxo offers its own proprietary platform. The advertised minimum deposit starts at zero (no minimum) — minimums often vary by account type and entity.
Regulatory strengths
- Licensed bank
- Very broad multi-asset offering
- Multiple tier-1 licences
Points to check
- Higher minimum funding at some entities
- Swiss business was sold to Cornèr Bank (now Cornèrtrader)
Protection by entity
| Regulator | Compensation | Retail leverage | Negative balance protection | Disputes |
|---|---|---|---|---|
| 1 ASIC | No statutory compensation fund for OTC derivatives; complaints go to AFCA | 30:1 on major FX pairs for retail clients since March 2021 | Required for retail clients | Australian Financial Complaints Authority (AFCA) |
| 1 FCA | FSCS — up to £85,000 per eligible client per firm | 30:1 on major FX pairs for retail clients (20:1 minors, gold and major indices) | Required for retail clients | Financial Ombudsman Service (FOS) |
| 1 FINMA | esisuisse deposit protection up to CHF 100,000 (bank-licensed brokers) | Set by the bank; typically up to 100:1 for retail | Not a regulatory requirement | Swiss Banking Ombudsman |
| 1 JFSA | No compensation fund, but client funds must be held in a mandatory trust (kubun kanri shintaku) | 25:1 on FX for individual traders | Not a regulatory requirement | FINMAC (Financial Instruments Mediation Assistance Center) |
| 1 MAS | No compensation scheme for leveraged FX | 20:1 on major FX pairs for retail investors | Not a regulatory requirement | Financial Industry Disputes Resolution Centre (FIDReC) |
| 1 SFC | Investor Compensation Fund does not cover leveraged OTC FX | 20:1 on FX for retail | Not a regulatory requirement | Financial Dispute Resolution Centre (FDRC) |
| 2 AFM | Investor Compensation Scheme — up to €20,000 | 30:1 on major FX pairs (ESMA rules) | Required for retail clients | Kifid (Financial Services Complaints Tribunal) |
| 2 Finanstilsynet (DK) | Guarantee Fund — €100,000 deposits; €20,000 investor protection | 30:1 on major FX pairs (ESMA rules) | Required for retail clients | Danish Complaint Board of Banking Services |
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Saxo regulation FAQ
Is Saxo regulated?
Yes — in our database Saxo is matched to 8 licences: ASIC (Australia), FCA (United Kingdom), FINMA (Switzerland), JFSA (Japan), MAS (Singapore), SFC (Hong Kong), AFM (Netherlands) and Finanstilsynet (DK) (Denmark). Which of these protects you depends on the legal entity you open an account with. Always confirm the licence on the regulator's official register.
Is Saxo a tier-1 regulated broker?
Saxo holds 6 licences from regulators we classify as tier 1: ASIC, FCA, FINMA, JFSA, MAS and SFC.
Does Saxo accept US clients?
Saxo is not matched to a CFTC/NFA registration in our database. Only CFTC-registered, NFA-member firms may offer retail forex to US residents, so Saxo generally cannot accept US retail forex clients.
Is my money protected with Saxo?
Clients of Saxo's FCA, FINMA, AFM and Finanstilsynet (DK)-regulated entities may be eligible for statutory compensation (FSCS — up to £85,000 per eligible client per firm; esisuisse deposit protection up to CHF 100,000 (bank-licensed brokers); Investor Compensation Scheme — up to €20,000; Guarantee Fund — €100,000 deposits; €20,000 investor protection). Clients of other entities rely on segregation of funds and the firm's financial strength.
What is the minimum deposit at Saxo?
Saxo advertises no fixed minimum deposit on its standard account, although some account types, payment methods or entities may require one.
How can I verify Saxo's licence?
Find the company name and licence number in Saxo's client agreement or website footer, then search it on the regulator's official register (linked from each licence on this page). Confirm that the website domain you use is listed on the register, and check the regulator's warning list for clones.