Saxo
Danish investment bank giving access to 23,000+ stocks on 50 exchanges, with tiered accounts and custody fees
Quick Overview
| Company | Saxo Bank A/S |
|---|---|
| Category | Stock Trading Apps and Online Brokers |
| Headquarters | Hellerup, Denmark |
| Founded | Not stated |
| EU Presence | Yes - Denmark (EU) |
| Data Location | Not stated on the pages checked |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | 23,000+ stocks, ETFs, bonds, API access, TradingView integration, tiered accounts |
| Pricing | US and Euronext stocks 0.08% (min USD 1 or EUR 2); custody fee 0.15% Classic, 0.12% Platinum, 0.09% VIP |
| Best For | Experienced investors who need many exchanges and APIs |
| Replaces | Robinhood, Webull |
Detailed Review
Saxo gives access to more than 23,000 stocks on 50 exchanges across core and emerging markets, from one account. Headquarters are Philip Heymans Alle 15, 2900 Hellerup, Denmark.
Clients with an account at Saxo Bank A/S may have cash and certain assets covered by the Danish Guarantee Fund, subject to eligibility and limits.
Commission and Custody
Stock commissions on main US exchanges and on Euronext (Amsterdam, Lisbon, Paris) are 0.08%, with a minimum of USD 1 and EUR 2 respectively. The commission page shows an annual custody fee of 0.15% (Classic), 0.12% (Platinum) and 0.09% (VIP) on stocks and ETFs.
Custody fees are subject to VAT: Danish VAT of 25% applies to individuals residing in the EU.
Tiers and Tools
Accounts are tiered (Classic, Platinum, VIP). The site mentions APIs for custom trading and market data access and integrations with tools such as TradingView.
Coverage
The breadth of exchanges is the main difference from consumer apps, which usually list a few thousand tickers.
Limitations to Consider
The custody fee, plus 25% Danish VAT for EU residents, is a recurring cost that most commission-free apps do not charge. Commission is a percentage with minimums, so small orders cost proportionally more. The platform is built for experienced traders and is more complex than Freetrade or Lightyear. Fees vary by country of residence.
Who Should Use Saxo
Experienced investors who want multi-exchange access and API connectivity from a Danish bank.
Pros and Cons
Pros
- 23,000+ stocks on 50 exchanges
- Tiered pricing that falls with volume
- API access and TradingView link
- Danish bank with deposit guarantee scheme
- Many asset classes
Cons
- Custody fee of up to 0.15% a year
- 25% Danish VAT on custody fees for EU individuals
- Commission minimums hit small orders
- Complex for beginners
Alternatives to Saxo
Other European stock trading apps and online brokers worth comparing before you decide:
Lightyear
Estonia · Investing platform with zero ETF execution fees
Scalable Capital
Germany · Broker and bank with savings plans from EUR 1
Freetrade
United Kingdom · Commission-free UK investing app with ISA and SIPP
Nordnet
Sweden · Nordic bank and broker with four courtage classes
See all European stock trading apps and online brokers or compare them directly against Robinhood on our alternatives page.
Frequently Asked Questions
Yes. The commission page shows 0.15% a year on Classic, 0.12% on Platinum and 0.09% on VIP for stocks, ETFs and bonds. Fees vary by country of residence.
Danish VAT of 25% is added to custody fees for individuals residing in the EU, according to the commission page.
Saxo Bank A/S has its headquarters in Hellerup, Denmark.