SAXO Markets Reviews and Comparison - Seedly
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SAXO Markets

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  • Reviews (42)
  • Questions (0)
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Online Brokerages/SAXO Markets
Online Brokerages/SAXO Markets
3.8
42 reviews
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USER RATINGS

Customer Support

3.7

User Experience

3.8

SAXO Markets

$5

MINIMUM FEE

0.10% to 0.12%

TRADING FEES

Custodian

STOCK HOLDING TYPE

SAXO Markets

$5

MINIMUM FEE

0.10% to 0.12%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Details

Saxo Markets Review 2020

Saxo Capital Markets Pte Ltd (“Saxo Markets”) is a licensed subsidiary of Saxo Bank A/S, an online trading and investment specialist. Saxo Markets have been operating in Singapore since 2006 and they are known for giving competitive rates and their seamless online trading platform. Saxo places large importance in the protection of their clients' funds regardless of the type of accounts.

  • Min Commission Fee: S$5
  • Commission Rate: 0.08%
  • Custody Fee: 0.12% p.a
  • Account Type: Custodian
  • Products available at Saxo Markets: Stocks, CFDs, ETFs, Forex, Futures, Bonds, Commodities, Forex, Mutual Funds

Read More about SAXO Markets
Reviews (42)

3.8

42 Reviews

  • 5
    20
  • 4
    11
  • 3
    2
  • 2
    2
  • 1
    7

Read Review About...

Most HelpfulMost RecentLow to HighHigh to Low
  • Updated 2w ago

    Purchased

    SAXO Markets

    [Commission Rates] Seems so so. [User Interface] Initially looked pretty good, was even considering going triple monitor for my trading setup. [Customer Service] Seems to take days to respond at times. [Others] Having USD and SGD account, and trading in NASDAQ, with funds all in my USD account, somehow it trades under my SGD account which has no funds. Now am being charged extra for whatever stupidity happened on their platform. Am looking to migrate out.

    0

    Post
  • Updated on 18 Oct 2020

    Purchased

    SAXO Markets

    [Vs Interactive Brokers] Higher commission rate though still much lower than market average. Great for beginners as Interactive Brokers charges a monthly minimum fee of S$10 for accounts between S$2,000 and S$100,000. [Customer Service] Ultra fast and responsive [User Interface] Super intuitive

    0

    Post
  • Updated on 15 Oct 2020

    Purchased

    SAXO Markets

    [Commission Rates] Really high fees, $4 on US market and S$10 on SGX! Stay away be it you're a small or big investor. Commissions and fees will ruin you.

    2

    Helin Seah
    Helin Seah

    26 Oct 2020

    Totally agree with you, the low minimum of 4USD per trade is a trick to hide the ridiculous high conversation fees. Can I know which platform you are currently using to trade on US market?
    Si En Tan
    Si En Tan

    27 Oct 2020

    IBKR!
    Post
  • Updated on 09 Oct 2020

    Purchased

    SAXO Markets

    [Customer Service] was fantastic, prompt replies and almost instant deposit of funds. Staff are friendly and helpful [Market Access] Decent, would be better if options chain offered more products and had a strategy analyser like thinkorswim has [User Interface] Great interface, easy to use and good for tracking different products.

    0

    Post
  • Updated on 16 Sep 2020

    Purchased

    SAXO Markets

    Easy application process and funding procedures. PayNow is almost instant deposits too. Easy UI on website and mobile app. Very user friendly especially for beginners!

    0

    Post
Questions (0)
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Types of Services Saxo Markets Provides

Saxo Markets offers a few types of services on its trading platform.

  • SaxoTraderGO: Beginner friendly interface for trading, complete with expert analysis and risk-management tools
  • SaxoTraderPRO: Advanced trading platform for traders or investors with similar tools as SaxoTraderGO
  • SaxoInvestor: Invest easily with the SaxoInvestor platform

Types of Account Available With Saxo Markets

Saxo Markets offers various types of account, catered to the different needs of the individual investor.

The tiers of account Saxo Markets provide are:

Classic

Minimum Initial Funding: S$3,000

Benefits:

  • Tight entry prices
  • Best-in-class digital service and support
  • 24/5 technical and account support

Platinum

Minimum Initial Funding: S$300,000

Benefits:

  • Up to 30% lower prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority customer support

VIP

Minimum Initial Funding: S$1,500,000

Benefits:

  • Best prices
  • Best-in-class digital service and support
  • 24/5 technical and account support
  • Priority customer support
  • Direct access to our trading experts, 24/7
  • 1:1 SaxoStrats access
  • Exclusive event invitations

Brokerage Fees & Charges of Saxo Markets

Saxo Markets Fees and Charges for CASH UPFRONT Trading Account

  • Min Commission Fee: S$5
  • Commission Rate: 0.08%
  • Custody Fee: 0.12% p.a
  • Account Type: Custodian

Saxo Markets Fees and Charges for buying US Stocks

  • Min. Fee: US$3 - $4
  • Commission: 0.04% (VIP) - 0.06% (Classic)

As of November, SAXO Markets has made a significant reduction to part of its pricing structure.

Currency conversion fee

  • Free sub-accounts, e.g. in SGD and USD, for accounts of any size/balance
  • Currency-conversion fee between sub-accounts reduced from 0.75% to 0.30%

Free live prices

  • Free live prices on SG, US and other exchanges available by refund, with a minimum of four trades placed each month (six trades on ASX)

No hidden fees, no new fees

  • Transparent pricing upfront, with no hidden fees (no inactivity fee, no platform fee, no maintenance fee etc)
  • No new fees are being introduced or other fees increased as part of this suite of price reductions

The fees and charges of Saxo Markets are as follows:

FX Pricing

Currency Pair

Classic

Platinum

VIP

EUR USD

0.6

0.5

0.4

GBP USD

0.7

0.6

0.4

EUR JPY

0.7

0.6

0.4

USD JPY

0.6

0.5

0.4

AUD USD

0.5

0.4

0.3

FX Pricing Saxo Markets (Minimum spreads)

Stock Pricing

Exchange

Classic

Platinum

VIP

NASDAQ

0.06% (min. USD 4, max. USD 100)*

0.05% (min. USD 4, max. USD 100)*

0.04% (min. USD 3, max. USD 100)**

New York Stock Exchange

0.06%(min. USD 4, max. USD 100)*

0.05% (min. USD 4, max. USD 100)*

0.04% (min. USD 3, max. USD 100)**

London Stock Exchange

0.10% (min. GBP 8)

0.07% (min. GBP 7)

0.05% (min. GBP 5)

Hong Kong Exchange

0.15% (min. HKD 90)

0.12% (min. HKD 80)

0.10% (min. HKD 60)

Singapore Exchange

0.08% (min. SGD 10)

0.08% (min. SGD 10)

0.08% (min. SGD 10)

Shanghai Stock Exchange

0.15% (min. CNH 40)

0.10% (min. CNH 30)

0.08% (min. CNH 20)

Execution prices (for main exchanges)

* For shares priced under USD 10, 0.01 USD/share, min USD 4, max USD 100
** For shares priced under USD 10, 0.007 USD/share, min USD 3, max USD 100

Bonds Pricing

Bond Type

Classic

Platinum

VIP

European government bonds

0.20% (min. EUR 80)

0.10% (min. EUR 60)

0.05% (min. EUR 50)

US government bonds

0.20% (min. EUR 80)

0.10% (min. EUR 60)

0.05% (min. EUR 50)

European and US corporate bonds

0.20% (min. EUR 80)

0.10% (min. EUR 60)

0.05% (min. EUR 50)

Emerging Markets bonds

0.20% (min. EUR 80)

0.10% (min. EUR 60)

0.05% (min. EUR 50)

Commissions

Custody Fees

Custody fees are what the brokerage charges you for safekeeping services.

Classic

Platinum

VIP

Custody Fee (p.a)

0.12%

0.12%

0.06%

Saxo Custody Fee

Saxo Market Contact Information

  • Saxo Markets hotline: +65 6303 7800 (Monday to Fridays, 8.30am-5.30pm)
  • Email: [email protected]
  • Address: 3 Church Street, #30-00 Samsung Hub Singapore 049483