Desk file · 2026 edition · record confidence: high
Saxo Bank
We opened the file on Saxo Bank the way we open every file: register first, marketing never. Trading since 1992, run out of Hellerup (Copenhagen), Denmark, and carrying 5 licence entries on the public record, 5 of them tier-1. Opened under the Danish FSA (Finanstilsynet) entity.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | 6.8 |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | 10.0 |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $90.00 |
Spread basis. sampled EUR/USD average on the tightest retail account. Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| Danish FSA (Finanstilsynet) | 1149 | Denmark | T1 | Saxo Bank A/S | home.saxo |
| FCA | 551422 | UK | T1 | Saxo Capital Markets UK Ltd | register.fca.org.uk |
| FINMA | Switzerland | T1 | Saxo Bank (Schweiz) AG | home.saxo | |
| MAS | Singapore | T1 | Saxo Capital Markets Pte Ltd | home.saxo | |
| FSA Japan | Japan | T1 | Saxo Bank Securities Ltd. | home.saxo |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- Saxo Bank A/S was founded in Denmark in 1992 and received its banking licence in 2001.
- Saxo Bank A/S holds Danish FSA licence no. 1149 (company registration no. 15731249).
- In June 2023 Saxo Bank was classified as a systemically important financial institution (SIFI) in Denmark.
- The UK entity, Saxo Capital Markets UK Ltd, is authorised by the FCA under firm reference number 551422.
- The Hong Kong SFC reprimanded and fined Saxo Capital Markets HK Limited HK$4 million on 6 January 2026 for allowing retail clients to trade virtual asset products that should only have been offered to professional investors, between 1 November 2018 and 25 November 2022 (SFC enforcement news release: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR1).
- J. Safra Sarasin Group announced the completion of its acquisition of a majority stake in Saxo Bank (group media release: https://jsafrasarasin.com/en/company/annual-reports-and-media-releases/J-Safra-Sarasin-Group-completes-the-acquisition-of-majority-stake-in-Saxo-Bank.html); Finance Magnates reported the close on 2 March 2026, with Daniel Belfer installed as CEO.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- FINMA licence number
- MAS licence number
- Japan FSA registration number
- Exact minimum deposit (varies by entity; Saxo advertises no minimum in several jurisdictions)
- EUR/USD spread is a reported VIP/Platinum-tier figure rather than a published live average
- public listing status
| Founded | 1992 |
| Head office | Hellerup (Copenhagen), Denmark |
| Minimum deposit | None |
| Leverage cap | 1:30 (UK/EU retail) |
| EUR/USD | 0.90 pips |
| Tier-1 entries | 5 |
| Record confidence | high |
Platforms and account types on file
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Account types
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Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.