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Online Brokerages/Saxo Markets
Online Brokerages/Saxo Markets
4.4
593 reviews
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Summary

Saxo Markets Review 2022

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.

Product Page Transparency

  • Claimed in March 2021
  • Pays to access additional features

Brokerage Features & Details

1) Key Features

  • Offers wide range of products from Stocks, Bonds, ETFs, Mutual Funds, Forex, CFDs and more
  • Minimum commission fees from S$2 for SG stocks and US$2 for US stocks 
  • Offers wide randing market access to 60 exchanges worldwide 

2) Fees

  • Commission fees:
    - SG stocks: Minimum S$2
    - US stocks: Minimum US$2
  • Deposits and withdrawal fees: S$0
  • Carrying cost: (0.50% (for Platinum plan); 1.50% (for all other plan) 
  • Manual order fee: EUR$50 per order
  • Account inactivity fee: S$0
  • Reporting fee: US$50 for online reports requests delivered via email

3) Account Opening

  • Minimum age: 18 years old
  • Account opening fee: S$0
  • Payment & deposit methods: Paynow, Bank Transfer, Credit/Debit Card, Wire Transfer
  • Minimum investment required: S$0

4) Products Offered 

  • Stocks
  • Bonds
  • ETFs
  • Mutual Funds
  • Forex
  • CFDs
  • Futures
  • Commodities
  • Options
  • Crypto
  • Commodities
...see more

Saxo Markets

$2

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Saxo Markets

$2

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Reviews (593)

4.4

593 Reviews

5
377
4
147
3
33
2
8
1
28

Service Rating

Customer Support

4.4

User Experience

4.5
    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 02 Nov 2022

      Purchased

      Saxo Markets

      User friendly and easy to use. Great customer support and offering of products Can highly recommend Saxo Markets

      0

      What are your thoughts?

      Posted 20 Oct 2022

      Purchased

      Saxo Markets

      Avoid this broker at all cost. Below a detailed account of my short 2 months experience with this broker. [Commission Rates] Most expensive among the brokers available in Singapore. [Market Access] [User Interface] Compared to other brokers interface is clunky, chart information is difficult to navigate. Despite being a gold plan subscriber with access to price information, I had to switch to other broker applications to monitor prices. [Customer Service] Customer service communicated and misrepresented wrong information - provided confirmation that I was eligible to receive the referral bonus despite being late to fund my account, however after funding and fulfilling the conditions I was served the notice that “Saxo reserves the right to deny my referral rewards”.

      0

      What are your thoughts?

      Posted 27 Sep 2022

      Purchased

      Saxo Markets

      [Customer Service] Customer support and service by Fiona was excellent - very professional & friendly. [Commission Rates] Saxo transparency of key fees/benefits for the new subscription plans can be improved (ie. interest payable by clients on their positive net free equity/account value should be transparently mentioned in the main comparison table)

      0

      What are your thoughts?

      Posted 26 Sep 2022

      Purchased

      Saxo Markets

      Horrible customer service. Expensive fees. Will definitely not recommend to my friends if they want to trade frequently. I personally use IBKR, better fx and much cheaper fees.

      0

      What are your thoughts?

      Posted 11 Sep 2022

      Purchased

      Saxo Markets

      Simple to use, straightforward. Has all the relevant information needed to help us make our decisions.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      14 Sep 2022

      Hi Muhammad Ridauddin,
      Thank you for your review. We really appreciate you taking the time to share your experience.

      Kind regards,
      Saxo Markets

      Posted 06 Sep 2022

      Purchased

      Saxo Markets

      [Market Access] Great access and market info, best app and easy to trade. One of the most user friendly UI in the market

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      14 Sep 2022

      Hi Vi-Hung Trinh,
      Thanks so much for your review, great to hear we are on the right track.

      Kind regards,
      Saxo Markets

      Posted 04 Sep 2022

      Purchased

      Saxo Markets

      Hi I use saxo for all my trading for USD and SGX markets. The app is a bit complicated but ok. and the fees are good.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      05 Sep 2022

      Hi Sinta,
      Thank you for your review. We really appreciate you taking the time to share your experience.

      Do check out this link for more information on how to use the platform: https://www.help.saxo/hc/en-sg/categories/36000...

      Kind regards,
      Saxo Markets

      Posted 04 Sep 2022

      Purchased

      Saxo Markets

      Saxo has competitive fees and both the browser and the app is very powerful and straight forward to use. On the ocassion I had to contact support it has been timely and helpful. Very satisfied.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      05 Sep 2022

      Hi Hoon Kim,
      Thank you for your review, we are really glad you enjoyed your trading experience with us!

      Kind regards,
      Saxo Markets

      Posted 03 Sep 2022

      Purchased

      Saxo Markets

      Great platform with very detailed analysis and graph chart. There is even a software that allows you to do proper technical analysis.

      1

      What are your thoughts?

      Saxo Markets

      Saxo Markets

      05 Sep 2022

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

      Kind regards,
      Saxo Markets

    Discussions (0)

      No Posts Found.

      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: 88 Market Street, CapitaSpring #31-01, Singapore 048948
      • Visit Saxo Market's website for more information

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