Who is Saxo Bank ?

Saxo Bank is a privately owned company. Geely Financials Denmark A/S – a subsidiary of Zhejiang Geely Holding Group Co. Ltd – owns 52 percent of Saxo Bank. Founder and CEO, Kim Fournais, owns 25.71 percent of the Bank, while Sampo Plc, a leading Nordic financial services group, owns 19.9 percent of the company. Minority shareholders, including current and former Bank employees, hold the remaining shares.

Founder and CEO, Kim Fournais co-founded Saxo Bank in 1992 and we were one of the first companies to focus on leveraging the internet to deliver better investment solutions. When we started on this journey, our principal belief was that the many, rather than the few, should be able to access the world’s financial markets in an optimal way.

So basically they are the new age kids of their time in 1990s and now they are backed by China Billionaire

*** Applicable until 30 April 2021 for new clients opening Saxo accounts during this promotional period. SGD 5 for existing clients and for new clients after 30 April 2021. Terms and conditions apply, click here.

This means there is no min fee til 30 April 2021, they competing with new age brokers like Moomoo & Tiger Brokers

US fees is by percentage so depends on how much you want to buy. Will do a comparison table later on.

Let’s hear it from the crowd

Bad / Negative reviews only as they are often the truth!

Google Play Store

Bad / Negative Reviews

It took 3 months to open and fund the account. Unfortunately, I didn’t start trading with this app, because most of the core features don’t work and no one really cares. Support replies within few week, sometimes even A MONTH of waiting! Taking the Platinum/VIP status makes no difference. Answers are dumb and useless. So much stress and lost opportunities. The worst stock broker I ever worked with.
Mar 9, 2021

Update: now it has problems connecting to server. sometimes needs 3-4 minutes of retrys. From time to time I get 15 min delayed data altough I have subscription for realtime. have to exit than login again to have realtime
Jan 27, 2021

Scam don’t bother giving them a penny. This app is a joke, they took my money 5 mins of me opening an account but its now been over 2 weeks for them to confirm my bank details to let me withdraw my money. I’ve sent 3 emails and 3 chats with support and nothing still. All I want to do is withdraw my so I can use better apps like free trader.
Feb 12, 2021

Customer service does not exist there. Did not fund my account.
Feb 2, 2021

They are robbing me off my GME earnings right now, bid: 190; ask:5000; last traded:260. do not trust your money to these crooks
Jan 28, 2021

Normal & Hidden fees. Read the fine print. It’s no Robin Hood or similar apps, they charge for everything and if you’re an investor who’s focused on dividends they’ll charge a lot for inactivity. Going to move my shares to somewhere else. Ridiculous and outdated.
Jan 27, 2021

Apple App Store

Bad / Negative Reviews

Ticket Unresponsive
Raised afew tickets on withdrawal bank setup, detailed is not clear and no one is attending to the request
Mar 15, 2021

Unable to withdraw
If i could give zero stars i would. I’ve been trying to withdraw my money for the past week but still am unable to. I’ve registered my bank account for withdrawal, was told to allow 24 hours. It has been almost a week and i still can’t withdraw my money. Email-ed, called, and sent multiple support tickets with no response. All they did was close my case over and over again. I don’t know if i can ever get my money, but isn’t this fraud?
Feb 26, 2021

Terrible interface, worse service
The interface is absolutely crap for the everyday trader and not remotely well tuned for tracking and managing your account. The fees are unduly high for such a crap platform and the service is woeful – specifically from Edward Tay in Singapore.
Feb 24, 2021

Clunky app, funds locked in account, poor customer service
Just use a different broker service and save yourself the headache.
Feb 22, 2021

Won’t let me withdraw my cash
Since bugs happen, I could forgive it. Except my request for help with this has been ignored for over two weeks now. Give me my money back.
Feb 22, 2021

High fees and rubbish customer support.
Only use Saxo if your portfolio is £20k+ and each trade you’re doing is £2000+. Otherwise the fees are ridiculous. Customer support is awful have been trying to withdraw my money for 10 days now and there’s no sign of me ever being able to see it. Use Trading212 or Revolut instead.
Feb 17, 2021

Usually, I don’t care about writing reviews, but this I gotta speak out.
I’m not even going into details for the really horrible customer service who can take DAYS just to respond to any tickets.Anyway, so, my advice? If you want to play a paper account, that’s fine. But don’t ever use this app for real money, YOU HAVE BEEN WARNED.Well, I wishes to switch to another stock trading platform due to being an *wink wink* unsatisfied customer for a lot of factors, sold all my positions, wishing to cash out. That’s where excrement happened. The withdrawal failed after 2 days, AND IT GOBBLE UP MY MONEY, I HAVE REDUCED PROFIT EVEN THOUGH THE WITHDRAWAL FAILED. ARE YOU SERIOUS? I don’t really mind if you have some commission fees for withdrawing. WELL, AT LEAST FOR MAKE LOVE SAKE, STATE IT SOMEWHERE. But, to be honest, I still can close an eye on the commission fee. What I really cannot comprehend is..MAY I KNOW WHERE DID MY MONEY GO AFTER A FAILED TRANSACTION?? ISN’T THIS YOUR FAULT? I HAVE TO PAY FOR A FAILED TRANSACTION? GIVE ME AN ANSWER??That’s all, anyway, guys, think wisely before you start on this app for real money.
Feb 17, 2021

Terrible communication, extortionate fees that they do not mention, horrendously long waiting times
Been waiting for my bank account to be added for more than 3 days now, there is no way to contact real support, I have reopened the case twice now saying that my details were not added yet each time they return with the same “ Dear Client, Your bank account detail has been saved successfully. Please allow 24 hours for the same to reflect in online portal. Regards Saxo Bank”. They are useless at helping and it seems they will just be holding onto the money I deposited that I thought I could invest. Not to mention that I sent money from my bank account to try to add it as they advise, but there is no sign of that money being anywhere. I do not recommend them at all
Feb 17, 2021

Bad app, tiger broker/ webull is better
1. Commission is at least 2x more than other brokers2. Can’t see live trading, 15 mins behind actual time (unless you pay for it)3. Sell and buy Order will not go through though there is “premarket” in saxo under algo category 4. Transferring money out take days and apparently there is a huge transfer feeWould give 0 star if possible and I would never recommend this broker to my friends.
Feb 11, 2021