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Online Brokerages/Saxo Markets
4.3
367 reviews
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Saxo Markets Review 2021

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$2
  • Commission Rate: 0.03% (Diamond) - 0.08% (Bronze)
  • Account Type: Custodian
  • Products available at Saxo Markets: Stocks, CFDs, ETFs, Forex, Futures, Bonds, Commodities, Forex, Mutual Funds

...see more

Saxo Markets

$2

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

[PROMO] Stand a chance to win S$50,000 in SaxoWealthCare Grand Draw. Valid till 7 Sep 2022. T&Cs apply. Learn more below.

Saxo Markets

$2

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

[PROMO] Stand a chance to win S$50,000 in SaxoWealthCare Grand Draw. Valid till 7 Sep 2022. T&Cs apply. Learn more below.

Reviews (367)

4.3

367 Reviews

5
223
4
92
3
21
2
8
1
23

Service Rating

Customer Support

4.3

User Experience

4.5
    Most HelpfulMost RecentLow to HighHigh to Low
    pinned

    Pinned by Saxo Markets

      Posted 10 Apr 2022

      Purchased

      Saxo Markets

      I have been using Saxo since 2019 as it was recommended by my brother. As a new investor back then, I thought it will be quite overwhelming. But the learning curve for me was rather easy. Saxo's user interface is straightforward and intuitive. Everything was so smooth from opening an account, depositing my funds, and to buying my first stocks. Financial literacy is also a plus for me. With Saxo, I am able to access webinars and articles in order for me to gain insights to trends and outlook shared by their in-house analysts. I must say that this is really helpful in order for me to navigate and stay ahead of the global markets. Also, not forgetting the customer support system of Saxo. Professionalism is always 100%. They are quick to respond to my queries and very patient to explain terms I find hard to digest. I'm so glad to have Saxo as my first ever brokerage account. My friends tried to recommend me other cheaper alternatives, but I don't really see the need to create another one. Investing is indeed fun and fulfilling when you know you are in the right platform, and everything investment-related is available here at Saxo. I will truly recommend it to first-time and seasoned investors. Thank you Saxo for the great work!

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      11 Apr 2022

      Hi Vee,

      We sincerely appreciate you taking the time to share with us your trading experience at Saxo. It is our pleasure to provide the best possible service to our clients, and we are glad that this commitment was reflected.

      Kind regards,
      Saxo Markets

      Posted 19h ago

      Purchased

      Saxo Markets

      Unreliable and Limited The platform is to some extent good; however, if you need to chat with the agent and receive support it is very challenging. The chat can be open for 5 min at most..and then it restarts and you end up speaking with 10 agents before you can only address your problem. I never solved one so far. Saxo Bank is also very unreliable. They change margins, fees and their interpretation of regulation without any previous communication and as they seem appropriate, usually on client's damage. They also never send you a name or a link to the regulation they are enforcing. Especially if you are a non EU citizen, avoid it. There are many other platforms in the US which are more reliable and less costly than SAXO. Do a better research. This is a branded mamut which will not survive the New Age. [Commission Rates] [User Interface] [Products Offered] [Others] [Customer Service]

      0

      What are your thoughts?

      Posted 4d ago

      Purchased

      Saxo Markets

      Saxo has one of the best user interface, various products offered and has one of the lowest fees & charges. Very user friendly. Highly recommended.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      7m ago

      Hi Kenmund,

      Thanks so much for your review, great to hear we are on the right track.

      Kind regards,
      Saxo Markets

      Posted 6d ago

      Purchased

      Saxo Markets

      I have been trying for a month to deposit a substantial amount of money with them through my pension. They only have messaging chat and ignore most messages, taking days to respond and even then with incorrect or unhelpful information. The most recent thing is that, after a month, and returning the money twice, they now say it is a KYC issue but have given a) no way to resolve it b) no number to call and c) no further information. I have been left trying to message them and being ignored. Genuinely the worst customer experience I have ever had with a financial company and that is saying something.

      0

      What are your thoughts?

      Posted 14d ago

      Purchased

      Saxo Markets

      I have been using Saxo since 2013, it was recommended by a friend. The customer service was great and they helped me set up my account with ease. The commision rates, market access and products offered is what attracted me to the platform. The user interface was simple to use and helpful guides makes using the platform easy and simple to understand. Great platform and easy to use.

      2

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      7m ago

      Hi Leendert,

      Thank you for your kind words. We are grateful for your feedback. It is our pleasure to provide the best possible service to our clients, and we are glad that this commitment was reflected.

      Kind regards,
      Saxo Markets

      View 1 other comments

      Posted 17d ago

      Purchased

      Saxo Markets

      Just recently enrolled, looking forward to frequent usage. So far so good, easy to use the interface, 👍🏻

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      9m ago

      Hi Lel,

      Thanks so much for your review, we are really glad you are enjoying our platform.

      Kind regards,
      Saxo Markets

      Posted 18d ago

      Purchased

      Saxo Markets

      [User Interface] Excellent UI with both mobile and desktop offerings. User experience was fast and smooth. [Products Offered] Extensive range of products offered means extra convenience for an upcoming trader. [Features] Provides most of news and related events inside the app.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      9m ago

      Hi Tiong,

      Thank you so much for sharing your feedback about our products/performance/service. It is great to hear that you had a positive experience at Saxo.

      Kind regards,
      Saxo Markets

      Posted 20d ago

      Purchased

      Saxo Markets

      Started using them in 2008/2009. Pros: Wide range of products , decent customer service. Cons : High cost of withdrawals and transfer of stock counters, high cost for deposit for non local currency. unable to accept cheque deposits for USD and other currencies. US stocks commissions are average at best. HK, UK, Europe markets are crazy expensive. custodian fees are high ? ( if other brokerage is offering it free ) Looking to switch

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      Edited 18d ago

      Hi Jme,

      Thank you for your feedback. Your concerns are valid and Saxo takes them into consideration when we constantly work to improve our platform and product offering to all clients.
      We offer up to 4 sub-accounts in different currencies for all clients. You can instantly transfer funds in SGD via Paynow or FAST to your Saxo SGD account, this is free of charge. Then do a Sub Account Transfer to your non local currency sub-account instantly. Currency conversion for sub-account transfers are at a very competitive rate of 0.3%. If you are looking to transfer funds in other currencies, this is via a Telegraphic Transfer where your bank will charge you a TT fee and it will take 2-5 business days.
      We have recently introduced our New Pricing Plans which allow you to save costs and earn commission credits, depending on which plan you upgrade yourself to. See Pricing Plans here: https://www.home.saxo/en-sg/accounts/plans
      You can also waive or halve your custody fees when you opt in to Securities Lending on your Saxo account. Details here: https://www.home.saxo/en-sg/accounts/securities...

      Kind regards,
      Saxo Markets

      Posted 24d ago

      Purchased

      Saxo Markets

      [Products Offered] They offer so many products such as stocks,forex,cfds etc. Best platform as they offer all at once! [Customer Service] Strong customer service, call them regarding withdrawal/funding details, very helpful Great userinterface. They also offer a sign up bonus of $100 under my referral that can be used for invesment or withdrawal. Pm me if you need a referral code In sum, highly recommend users who wants to try CFD broker, Saxo is what i would share with my friends to trade cfd and forex instruments! If you have any questions or want to hear about my expeirence with this platform , you can pm me on telegram @SeanNSF

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      19d ago

      Hi Sean,

      Thank you for your detailed review. It is great to hear that you had a positive experience at Saxo.
      We sincerely appreciate you taking the time to share with us your trading experience at Saxo.

      Kind regards,
      Saxo Markets

      Posted 25d ago

      Purchased

      Saxo Markets

      [User Interface] Started with Saxo since 2020. User interface has been great, and one of the main reasons I continue to trade on Saxo till this day.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      19d ago

      Hi Jerrome,

      Thanks so much for your review, great to hear we are on the right track.

      Kind regards,
      Saxo Markets

    Discussions (0)
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      Exclusive Rewards

      Stand a chance to win S$50,000 in SaxoWealthCare Grand Draw

      • Promotion is valid from 25 April to 7 September 2022
      • Promotion is applicable to new and existing Saxo Markets applicants
      • Terms and Conditions apply
      • To apply, click on the "Apply Now" or "Visit Site" buttons

      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 six tiers of account Saxo Markets provide are:

      Bronze

      Minimum Initial Funding: S$3,000

      Benefits:

      • SG stocks from SGD 5
      • US stocks from USD 4
      • Global market access on our popular platforms and apps
      • Digital support

      Silver

      Minimum Initial Funding: N.A.

      Benefits:

      • SG stocks from SGD 3
      • US stocks from USD 3
      • No custody fee
      • Free real time price data on US stocks
      • Digital support

      Gold

      Minimum Initial Funding: N.A.

      Benefits:

      • SGD 15 commission credit
      • SG stocks from SGD 2
      • US stocks from USD 2
      • No custody fee
      • Free real time price data on US, EU, UK & CH stocks
      • Access to SaxoTraderPRO
      • Digital support

      Platinum

      Minimum Initial Funding: N.A.

      Benefits:

      • SGD 45 commission credit
      • SG stocks from SGD 1.50
      • US stocks from USD 1.50
      • No custody fee
      • Free real time price data on US, EU, UK, CH & SG stocks
      • Access to SaxoTraderPRO
      • Digital support
      • Priority phone support

      Diamond

      Minimum Initial Funding: N.A.

      Benefits:

      • SGD 145 commission credit
      • SG stocks from SGD 1
      • US stocks from USD 1
      • No custody fee
      • Free real time price data on US, EU, UK, CH, SG & HK stocks
      • Access to SaxoTraderPRO
      • Digital support
      • Priority phone support
      • Exclusive events

      Saxo Markets Fees and Charges

      Saxo Fees and Charges for CASH UPFRONT Trading Account:

      • Min Commission Fee: S$2
      • Commission Rate: 0.03% (Diamond) - 0.08% (Bronze)
      • Account Type: Custodian

      Saxo Fees for US Stocks:

      • Min. Fee: US$1 - $4
      • Commission: 0.02% (Diamond) - 0.06% (Bronze)
      • Custody Fee (If opted into Securities Landing): 0.06% (Bronze), No custody fee (Silver, Gold, Platinum, Diamond)

      Currency conversion fee via account transfer

      • 0.03% (Bronze, Silver, Gold, Platinum, Diamond)

      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)

      The fees and charges of Saxo Markets are as follows:

      FX Pricing

      Currency Pair

      Bronze

      Silver

      Gold

      Platinum

      Diamond

      EUR USD

      0.6

      0.6

      0.6

      0.5

      0.4

      GBP USD

      0.7

      0.7

      0.7

      0.6

      0.4

      EUR JPY

      0.7

      0.7

      0.7

      0.6

      0.4

      USD JPY

      0.6

      0.6

      0.6

      0.5

      0.4

      AUD USD

      0.5

      0.5

      0.5

      0.4

      0.3

      Stock Pricing For Main Exchanges

      Exchange

      Bronze

      Silver

      Gold

      Platinum

      Diamond

      NASDAQ

      0.06% (min. USD 4)

      0.04% (min. USD 3)

      0.03% (min. USD 2)

      0.025% (min. USD 1.5)

      0.02% (min. USD 1)

      New York Stock Exchange

      0.06% (min. USD 4)

      0.04% (min. USD 3)

      0.03% (min. USD 2)

      0.025% (min. USD 1.5)

      0.02% (min. USD 1)

      London Stock Exchange

      0.10% (min. GBP 8)

      0.10% (min. GBP 8)

      0.10% (min. GBP 8)

      0.07% (min. GBP 7)

      0.05% (min. GBP 5)

      Hong Kong Exchange

      0.15% (min. HKD 90)

      0.15% (min. HKD 90)

      0.15% (min. HKD 90)

      0.12% (min. HKD 80)

      0.10% (min. HKD 60)

      Singapore Exchange

      0.08% (min. SGD 5)

      0.06% (min. SGD 3)

      0.05% (min. SGD 2)

      0.04% (min. SGD 1.50)

      0.03% (min. SGD 1)

      Shanghai Stock Exchange

      0.15% (min. CNH 40)

      0.15% (min. CNH 40)

      0.15% (min. CNH 40)

      0.10% (min. CNH 30)

      0.08% (min. CNH 20)

      Bonds Pricing

      Bond Type

      Bronze

      Silver

      Gold

      Platinum

      Diamond

      US government bonds

      0.20% (min. EUR 20)

      0.20% (min. EUR 20)

      0.20% (min. EUR 20)

      0.05% (min. EUR 20)

      0.05% (min. EUR 20)

      EU and US corporate bonds

      0.20% (min. EUR 20)

      0.20% (min. EUR 20)

      0.20% (min. EUR 20)

      0.10% (min. EUR 20)

      0.10% (min. EUR 20)

      Custody Fees

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

      Custody Fee

      Bronze

      Silver

      Gold

      Platinum

      Diamond

      If opted into Securities Lending

      0.06%

      0%

      0%

      0%

      0%

      If opted out of Securities Lending

      0.12%

      0.12%

      0.12%

      0.12%

      0.06%

      Contact Saxo Market

      • Saxo Markets hotline: +65 6303 7800 (Monday to Fridays, 8.30am-5.30pm)
      • Address: 3 Church Street, #30-00 Samsung Hub Singapore 049483
      • Visit Saxo Market's website for more information

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.