What is Saxo Bank?

Saxo Bank is a Copenhagen-based, fully licensed Danish bank that operates a global online brokerage, giving private, professional, and institutional clients access to a broad range of  instruments—FX, stocks, bonds, funds, options, futures, and more—through its proprietary platforms. The firm, named after the medieval Danish historian Saxo Grammaticus, gained a banking licence in 2001, is regulated in multiple jurisdictions, and was designated a Danish SIFI (Systemically Important Financial Institution) in 2023. In March 2025 Swiss private bank J. Safra Sarasin agreed to buy a 70 % stake, while founder and CEO Kim Fournais keeps 28 %. Saxo stopped onboarding and is offboarding clients in India after July 2024, so it is not currently legal to open a new Saxo account from India.

Saxo Bank A/S is a Danish investment bank and fintech broker founded in 1992 (originally Midas Fondsmæglerselskab). The rebrand to “Saxo” in 2001 paid homage to Saxo Grammaticus, author of Gesta Danorum, and reflected a Scandinavian identity free of trademark conflicts.

From its Copenhagen HQ and hubs in London, Zürich, Dubai, Singapore, and Tokyo, Saxo delivers a cloud-based multi-asset platform accessed by more than a million clients worldwide. Daily turnover averages US$17.7 billion.

What Does Saxo Bank Do?

Multi-asset trading from a single account

• FX, stocks, ETFs, bonds, mutual funds, options, futures, listed and OTC CFDs
  
• 25 base currencies and local sub-custody in 16 markets
  
• Three platform tiers: SaxoTraderGO, SaxoInvestor, and SaxoTraderPRO (desktop API for professionals)
  

White-label technology

More than 150 partner banks and brokers license Saxo’s OpenAPI and trading stack, pushing 200 million+ API calls per day.

Institutional and partner services

Saxo provides prime brokerage, execution, liquidity, and post-trade services to asset managers, family offices, and fintechs under its Saxo Institutional division.

Ownership & Corporate Structure of Saxo Bank

The deal values Saxo at €1.6 billion and keeps the bank headquartered in Denmark under local regulation.

Is Saxo Bank Legal in India?

• No new accounts: Saxo ceased onboarding Indian residents on 1 July 2024.
  
• • Off-boarding 2024/25: Existing Indian clients were told they would be migrated or closed by the end of 2024.
  
• Reason: Regulatory complexity and strategic refocus; Saxo favors markets where it can hold full licenses.
  

Bottom line: If you reside in India, you cannot legally open or maintain a Saxo account today; look to SEBI-registered alternatives instead.

Regulation, Licenses & Safety—Can You Trust Saxo?

• Fully licensed Danish bank under Finanstilsynet (FSA) with a credit institution permit since 2001
  
• Systemically Important Financial Institution (SIFI) status granted June 2023, placing Saxo under enhanced capital and governance requirements.
  
• Local subsidiaries regulated by FCA (UK), MAS (Singapore), ASIC (Australia), FINMA (Switzerland), and more.
  
• Investment-grade BBB rating (positive outlook) from S&P Global (2024).

Pros (Why many investors trust Saxo)

• Tier-1 bank custody and segregated client funds
  
• Broadest multi-asset coverage in the EU among fintech brokers
  
• • White-label technology used by global banks (credibility “halo”)
  
• Transparent pricing with no inactivity fee
  

Cons

• Complex fee schedule for occasional traders
  
• High FX conversion spread compared with some rivals
  
• No retail crypto spot trading
  

For a side-by-side comparison of leading trading platforms, explore our curated list of the best brokers before you decide.

Saxo Bank Global Footprint & Key Numbers

Pros & Cons of Using Saxo Bank (Quick View)

Call to Action

Ready to experience a professional-grade platform backed by a Danish SIFI? Open an account on Saxo’s official site or, for a comprehensive breakdown of fees and tools, read our in-depth Saxo review (internal link).

Conclusion

What is Saxo Bank? In short, it is a Danish SIFI-level bank-broker that has combined fintech innovation with Tier-1 regulation since 1992. It delivers one-stop access to global markets, serves over a million clients, and licenses its platform to hundreds of partners. Following the 2025 sale to J. Safra Sarasin, Saxo adds a Swiss private-bank backing while keeping its Copenhagen base. However, its strategic withdrawal from India shows how regulation shapes market presence. Investors outside restricted countries benefit from deep liquidity, institutional-grade tools, and strong capital safeguards, making Saxo a credible choice for serious multi-asset trading.

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