20 Jun 2021


Overall score: 88

Official Site

Average Spread for EUR/USD

1.30 pips.

Founded in


Maximum leverage

1 pip




SaxoTrader GO, SaxoTraderPRO.


Forex, CFDs, ETFs, stocks, bonds, cryptocurrencies, commodities, futures, options, bonds, mutual funds.

Saxo Bank is not available in Colombia. If you are looking for a broker that is compatible with our market, we recommend you IQ Option. This platform accepts recharges from 35.000 COP with Efecty, Baloto and PSE.

Facts about Saxo Bank

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Payment methods
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What is Saxo Bank? Opinions and analysis

Saxo Bank is a financial services provider founded in 1992. in nearly 180 countries. The firm is headquartered in Copenhagen, Denmark, and owns more than 2000 employees all over the world.

The company offers trading and investment services retail and institutional clients alike. That means it caters not only to individual traders, but also to large institutions, hedge funds and investment firms.

In terms of retail trading, Saxo Bank has a proprietary platform where you can trade Forex, Cryptocurrencies, CFDs, Futures, Commodities, Options, Stocks, Bonds and ETFs.

It is worth mentioning that Saxo Bank is not available in Colombia. If you want to participate in the financial markets we suggest you to visit our list of brokers.

Saxo Bank licensing and regulation


Saxo Bank is a unique broker in its class, as it has an extensive bank licence of the Danish Financial Supervisory Authority. This means that it is fully licensed to offer financial services.

By holding this license, Saxo Bank is covered by the Danish Guarantee FundA compensation fund that covers customers' deposits up to 100,000 euros in the event of the company's bankruptcy.

In addition to being supervised as a bank by the Danish authorities, Saxo Bank has licenses from various entities. Some of the best known are: FCA of the UK, MAS of Singapore, FINMA of Switzerland, ACPR of France and ASIC of Australia.

We can tell you that there are few brokers that have this level of regulation. For this reason, trading with Saxo Bank is totally safe, as you are literally putting your money in a bank.

Saxo Bank is a highly reliable broker, as it holds a banking license from the Danish FSA.

Can I open a Saxo Bank account in Colombia?

Unfortunately, No. This company does not offer their services directly in our country, so you will not be able to trade on their platform.

If you are looking for a good broker to trade from Colombia, we can suggest you IQ Option. This company has a solid regulation, processes payments in pesos and allows recharging from 35,000 COP.

Saxo Bank Account Types

Saxo Bank offers three types of accounts for its retail clients. We should mention that the access requirements are significantly higher than at other Forex brokers:

Classic Platinum VIP
Minimum deposit 2000 USD 200,000 USD 1 million USD
Spreads From 1 pip on EUR/USD From 0.9 pips on EUR/USD From 0.8 pips on EUR/USD
Commissions N/A N/A N/A
Maximum leverage 1:30 1:30 1:30
Platforms SaxoTraderGo, SaxoTraderPro, SaxoTraderGo, SaxoTraderPro SaxoTraderGo, SaxoTraderPro, SaxoTraderGo, SaxoTraderPro SaxoTraderGo, SaxoTraderPro, SaxoTraderGo, SaxoTraderPro
Minimum volume per order 0.01 batches 0.01 batches 0.01 batches
Recommended for Retail Traders High volume professionals Professional traders with high resources

In addition to the above, the platform offers accounts "Corporate" for companies and investment funds, and "Professional" for institutional traders with portfolios of more than €500,000. These accounts have special conditions, such as higher leverage levels and fewer restrictions.

Saxo Bank also offers a demo account with 100,000 virtual credits. However, you can only use it for 20 days.


The Classic account is designed for texperienced retail raders in the markets. This account has a minimum deposit requirement of 2000 USD and offers spreads from 1 pip for EUR/USD.

With this account you can also receive 24/5 technical support and get access to the broker's two trading platforms: SaxoTraderGo and SaxoTraderPro.


This account requires a minimum deposit of 200,000 USD, although it offers better trading conditions (lower spreads and commissions). The Platinum account has other benefits, including priority support in Spanish.


Finally, the VIP account is reserved for high net worth traders who make a minimum deposit of $1 million. This account has the best possible conditions, such as spreads as low as 0.8 pips on EUR/USD and low commissions on other instruments.

The VIP account has other benefits, such as a personal account manager, a panel of experts, invitations to events, and professional market analysis.

Trading platform

Saxo Bank differentiates itself from other brokers with two unique platforms: SaxoTraderGO and SaxoTraderPRO. These software products are considered some of the best in the industry, so much so that more than a hundred financial institutions around the world offer them directly to their clients.

SaxoTraderGO SaxoTraderPRO
Economic calendar
Temporalities 10 10
Indicators 40 50



SaxoTraderGO is a trading platform with a wide range of features. One of the most impressive features is its fundamental analysis sectionwhich includes news, expert recommendations and trading signals.

In addition, SaxoTraderGO has several technical analysis toolsThe software includes more than 40 indicators, multiple visual objects, 10 timeframes and 9 chart styles.

The platform is certainly one of the most powerful we've seen. However, if you are just starting out in the financial markets, you may find it overwhelming. The software has so many options that it can be confusing.



SaxoTraderPRO is a platform specifically designed for professional traders. This software has advanced features such as a Level II order book, real-time data from the trading floors and algorithmic trading.

SaxoTraderPRO also includes a number of other new features, such as a "ACCOUNT SHIELD (a general stop-loss for the account), notifications of changing market conditions, and advanced reporting features.

Being such an advanced software, there are no versions for mobile devices or web browsers. If you want to use the platform, you must download it on a Windows or Mac computer.

This platform is suitable for high level traders and financial institutions only. Therefore, if you are a retail trader, the most suitable platform for you is SaxoTraderGO.

As a retail trader, your best option for trading on Saxo Bank is the SaxoTraderGO platform.

Saxo Bank trading instruments

Saxo Bank has an impressive list of more than 30,000 financial instruments which includes currency pairs, CFDs, stocks, options, futures, ETFs and even cryptocurrencies. Some of the assets available on this platform are:

💵 Forex
Instrument Average Spread Leverage
EUR/USD 1 pip 1:30
GBP/USD 1.1 pips 1:30
USD/JPY 0.9 pips 1:30

Saxo Bank has more than 180 Forex crosses, including major, minor and exotic currency pairs. 

This broker not only offers spot forex contracts, but also offers various forex derivative products, including CFDs, options and swaps.

🛢️ Raw materials
Instrument Average Spread Leverage
XAU/USD 14 pips 1:10
Gold 0.60 pips 1:10
Silver 3.5 pips 1:10
WTI Crude Oil 0.05 pips 1:10

On this platform you can trade a wide range of commodities ranging from precious metals such as gold and silver, to agricultural commodities such as corn and energy assets such as WTI oil.

The broker offers various instruments for trading commodities, such as spot contracts, CFDs, futures, options and ETCs.

🗠 Actions
Instrument Commission Leverage
NYSE Shares From 7 USD 1:5
London Stock Exchange Shares From 8 GBP 1:5
Hong Kong Stock Exchange Shares From 100 HKD 1:5

With a massive catalogue of over 19,000 Stocks from around 37 trading floors, Saxo Bank is positioned as a reliable option for trading Stocks.

In this broker you can trade stocks from the main stock exchanges in the Americas, Europe and Asia. Whether you are looking for shares of Amazon, Alibaba or Mazda, you can find them here.

📝 Bonds
Instrument Commission Leverage
European Bonds From 80 EUR 1:5
U.S. Bonds From 80 EUR 1:5
Asia Pacific Bonds From 80 EUR 1:5

This trading platform has a list of more than 5000 government bonds from 20 countries and denominated in 21 currencies. If you want to diversify your portfolio with bonds, here you can find government bonds from Europe, the United States, Asia, the Middle East and Latin America.

💰 ETFs
Instrument Commission Leverage
ETFs on NASDAQ From 7 USD 1:5
ETFs on NYSE From 7 USD 1:5
ETFs on the London Stock Exchange From 8 GBP 1:5

Exchange Traded Funds (ETFs) are an excellent way to diversify a portfolio without investing in a large number of assets. Luckily, Saxo Bank has a list of over 3000 ETFs from around 30 stock exchanges around the world.

The platform offers the funds of the most popular brands, such as iShares, Powershares and Lyxor.

Instrument Average Spread Leverage
BTC/USD 160 pips 1:2
ETH/USD 9 pips 1:2
LTC/USD 1.05 pips 1:2

This trading platform has crosses between major fiat currencies (such as the dollar and the euro) and various digital currencies, such as Bitcoin, Ether and Litecoin.

Saxo Bank goes further and offers cryptocurrency derivative instruments such as ETNs and ETFs.

Saxo Bank payment methods

Saxo Bank does not accept payments from Colombia. Still, we want to talk about the options available to traders from other countries:

Bank transfer Credit cards
Minimum deposit Depends on the bank 1 USD
Processing time (deposits) Up to 5 business days Instant
Processing time (withdrawals) Depends on the bank Between 2 and 5 working days
Commissions Depends on the bank Up to 2.88 %
Comments It is only possible to deposit in foreign currency Cards issued in Colombia are not accepted

Bank transfer

This company accepts payments in the most popular currencies (such as US dollars, Euros or Swiss francs) in its different international bank accounts.

The broker does not charge any fees for depositing or withdrawing. However, banks are likely to charge fees if you make a transfer.

It should be noted that processing times, as well as deposit limits, vary significantly by financial institution.

Credit cards

At Saxo Bank you can top up your account with branded cards. Visa and Mastercard. It is worth mentioning that the company only accepts physical cards, so the ones issued by virtual platforms will not work.

Unfortunately, this broker does not accept credit cards issued in Colombia or payments made by residents of the country. This means that you cannot use this payment method.

Saxo Bank only processes payments via credit cards and bank accounts. This broker does not accept deposits from Colombia

Saxo Bank Customer Support


  • Support ticket system:
  • Phone: +57 13161659
  • Live chat?

Saxo Bank support is available on 24 hours during the 5 working days of the week. If you want to get help, you can submit a support ticket, open a live chat or make a call.

It's worth mentioning that the extent of support depends on your account. For example, if you open a Classic account you are entitled to technical support (which is top-notch, according to user feedback). However, if you are a VIP customer, you have a personal account manager and contact with experienced analysts.

In addition, the platform has a comprehensive FAQ section that answers most questions, from how to deposit into the account, to the trading conditions of all instruments.

Saxo Bank's verdict

Pros and cons
️Excellent choice of financial instruments Not available in Colombia
️Good fundamental analysis tools High minimum deposit
️Powerful Trading Platforms Confusing for beginners

Saxo Bank is a reliable company for experienced traders of high activity, as well as large institutions and investment funds. Therefore, if you are a beginner, this should not be your first choice of broker.

The company has an unbeatable range of assets and a powerful trading platform, as well as many extra features (especially when it comes to fundamental analysis).

These tools can be valuable for a professional trader. However, if you are just taking your first steps in the world of trading, can be overwhelming.

Finally, we would like to remind you that Saxo Bank is not available for Colombian traders. If that is your case, you will have to open an account with a regional agent of the company, or select another broker.

Frequently Asked Questions

Is Saxo Bank available in Colombia?

No, Saxo Bank is not available in our country. However, the company has different representatives in Latin America that allow you to open an account from Colombia. If you are looking for an alternative, we can recommend you to IQ Option: a broker adapted to the Colombian market.

Is Saxo Bank a safe broker?

Yes, Saxo Bank is a secure financial institution, as it holds a banking licence from the Danish FSA and is supervised in several recognised jurisdictions, including the UK, Singapore, France and Switzerland.

What is the minimum deposit at Saxo Bank?

You need at least 2000 USD to open an account with Saxo Bank. Depositing this amount gives you access to the "Classic" account, which is the most basic account. Other account types, such as "Platinum" and "VIP", have deposit requirements of $200,000 and $1 million respectively.

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