SaxoTrader investment platform review: features and fees for individuals

Disclaimer: The information in this article is for general informational purposes only and does not constitute financial, tax, or legal advice. See full disclaimer.

Looking at trying a new investment platform? One popular platform you’re likely to come across in the UK is SaxoTrader. It’s a professional-grade, multi-asset online trading platform run by Saxo Bank, a Danish investment bank which is based in Copenhagen but operates globally.

In this guide, we’ll cover everything you need to know about SaxoTrader.

This includes who its best for, supported currencies, features, fees and how to buy stock with SaxoTrader.

So, let’s dive right into our SaxoTrader review.

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Who SaxoTrader is best for?

Generally speaking, SaxoTrader is best for experienced investors, active traders, and professional clients looking for a robust, multi-asset platform with advanced analytical tools.

It may not be best for either beginner or casual investors, who may find the complexity of the platform and the fee structure off-putting. If you’re new to investing, you may want to try Saxo’s other platform - the more straightforward SaxoInvestor - instead.

Who can open an account?

To open an individual SaxoTrader account, you’ll need to be at least 18 years old¹ and a resident in a supported country. The UK is one of these countries, so the platform is suitable for UK residents.

You’ll also need to provide the following documents and details on application:¹

• Name, address, date and country of birth
• Proof of ID
• A selfie photo (taken with your phone) to match with the ID you provide
• Tax ID number
• Proof of residence document (if applicable).

What currencies are supported?

SaxoTrader supports trading in 24 different currencies, and also lets you open sub-accounts in 4 currencies.² The aim is to simplify global trading, and to minimise currency conversion fees.

What is SaxoTrader?

SaxoTrader is a multi-asset trading platform developed by Saxo Bank for active professional traders and institutional clients.

It provides access to Saxo’s full product range consisting of thousands of instruments, including stocks, ETFs, forex, futures and options.

SaxoTrader features

Now, let’s take a look at what kind of features you can expect when you open an individual account with SaxoTrader:

• Advanced trading tools such as Direct Chart Trading, Options Management and Algorithmic Orders
• Risk management tools
• Detailed portfolio, transaction and tax reporting tools
• Fast execution speeds across desktop, web and mobile devices
• Sub-currency accounts to manage FX fees.

SaxoTrader fees

How much will it cost you to use the SaxoTrader platform?

Let’s take a look at the main fees involved, although it’s strongly recommended to check the full list of additional and third party fees before joining the platform.

Does SaxoTrader have an account fee?

SaxoTrader doesn’t charge an application or account opening fee, nor does it have any monthly maintenance fees.

However, accounts with stock, ETF/ETC, funds or bond positions will pay an annual custody fee. This is 0.8% to 0.12% for stocks, and 0.05% for funds.³

Trading fees with SaxoTrader

Similar to other trading platforms, SaxoTrader charges commission for trading in stocks, options, futures, cryptocurrency and more.

Commission fees start from 0.08% for stocks and ETFs, and from 0.2% for bonds.³

How much does SaxoTrader charge for UK stocks?

The commission fees for buying and selling UK stocks with SaxoTrader are the same as for other global products - starting from 0.08%.³

SaxoTrader withdrawal fees

SaxoTrader doesn’t charge withdrawal fees, so you can withdraw funds to your designated bank account whenever you choose.

SaxoTrader commission fees

SaxoTrader’s commission fees start from:³

• Stocks - from 0.08% of trade value
• ETFs/ETNs - from 0.08% of trade value
• Bonds - from 0.2% of trade value.

SaxoTrader currency conversion fees

If you’re trading in a currency not supported by the platform, or transferring funds between currency sub-accounts, you’ll pay currency conversion fees of 0.20% to 0.60%, depending on your account tier.³

How to buy stock with SaxoTrader

Here’s a quick step-by-step on how to buy stock with SaxoTrader:

1. Log in to your SaxoTrader account
2. Use the search bar to find the stock ticker or company name
3. Click the ‘Trade’ button next to the instrument you want to buy, to open a trade ticket. Alternatively, click the ‘Buy/Sell’ button
4. Configure your order, selecting the account you want to use, the order type, the quantity of shares, and any other preferences when prompted.
5. Check the details and submit your order.

Buying stock in another currency?

Buying or selling a stock or shares that aren’t traded in your local currency? Don’t let the currency conversion trip you up. Convert your stocks or shares into any currency with our handy tool, and you’ll always know what you’re getting.

📈 Check out our international stock ticker

Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice.

All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.

How is the SaxoTrader mobile app?

The SaxoTrader Trade + Invest mobile app is available from Google Play for Android devices and the App Store for iOS devices.

It’s well reviewed, getting a 4.5/5 rating from users on the App Store⁴ and a 4.6/5 rating over on Google Play.⁵

SaxoTrader customer service

Need help? You can contact Saxo customer service using the following methods:

• Login to your account to raise a support ticket
• Call +44 (20) 7151 2100 for general enquiries.

Alternatives to SaxoTrader

There are lots of alternatives to SaxoTrader out there, including:

• Trading 212
• eToro
• IG Trading
• XTB
• Webull
• Charles Schwab
• Fidelity
• Interactive Brokers
• Hargreaves Lansdown.

FAQs about investing with SaxoTrader

How long does it take to withdraw money from Saxo?

If you’re withdrawing money to a UK bank account from Saxo, it should take 1-2 working days. Withdrawals to international accounts can take longer, potentially up to 5 working days.⁶

Is Saxo Chinese-owned?

No, Saxo Bank is currently owned (with a majority stake) by the Swiss banking group J. Safra Sarasin, although it did have Chinese owners previously.

Is Saxo better than eToro?

The right platform for you all depends on your investment experience and goals. SaxoTrader tends to be best for experienced, professional investors, while eToro suits a range of investors from beginners to more advanced users.

Save money when selling or buying international stocks with Wise

If you are buying or selling international stocks and funds listed abroad, you might be hit with extra costs for cross border money transfers.

But if you use Wise money transfer, you can avoid hidden currency exchange markups. Open a Wise account and you’ll be able to conveniently manage your money in up to 40+ currencies. This means you can convert your money into other currencies when the time is right for you at the mid-market rate for only a small, transparent conversion fee*.

Not sure about using investment platforms? With a Wise account, you can choose how your money is used. Choose the currency (GBR, USD or EUR only) then under 'options', select ‘Earn’ and choose from one of three options including Interest.

All your money is held as ‘cash’ by default, so you can’t earn a return on the money you spend, but it isn’t at risk in the market. If you opt for Interest you can choose to give us permission to invest all or some of your money in the interest-earning fund we’ve chosen. This will depend on the currency.

With Wise Interest, you can help grow your international money and start earning a return on the pounds, euros and dollars** in your account.

** Wise Interest and Stocks is only available to some UK, Singapore and some EEA residents and most businesses that are tax resident in the UK. To discover if you are eligible, check your account and if you can see the option to change your currency account from Cash to Interest, then you are eligible. Capital at risk.

You’ll also have full access, at all times without the typical access fees or spend restrictions so you can continue using your money as usual.

We’ll only ever invest your cash in a fund of government-backed assets - so when the central bank rates change, your return does too. We will always track the central bank rate whereas other providers may cut rates faster, which means you’re more likely to get a fairer rate.

Why not turn on Interest, to help boost your money?

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Investments can fluctuate, and your capital is at risk. Interest is offered by Wise Assets UK Ltd, a subsidiary of Wise Payments Ltd. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you're uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

You may also be interested in:

• How Wise Interest works

• Using Wise Interest

• How do I use Wise Interest and Stocks?

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Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

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Sources used:

1. Saxo - Help - How do I open an account?
2. Saxo - SaxoTrader
3. Saxo - General charges and fees
4. App Store - SaxoTrader Trade + Invest
5. Google Play - SaxoTrader Trade + Invest
6. Saxo - Help - How long does a money transfer take?

Sources last checked on date: 18-Mar-2026