Open an Account FAQ
Frequently Asked Questions
How do I open an account?
You can apply for an account online using the pop-up account application right now, or we can email you the Client Application Form to fill in at your leisure. In either case, you must send us the original signed form through the mail (along with the additional documentation requested on form).
We will then validate your application and contact you when your account is open. This normally takes two working days from when we receive your application. To speed the up the process, you can also send us a copy of your application via fax. We will then process your application while waiting for your original signed copies to arrive by mail.
We will notify you by email as soon as your account is open.
What is the minimum account size?
The minimum initial deposit when opening an account with Saxo Bank is USD 2,000 for a private Saxo MiniTrader account
USD 10,000 for a SaxoTrader account.
You can select many currencies as the base currency of your account and all transactions will be converted back to the base currency of your account.
How do I fund my account?
Saxo Bank accepts fund transfers through many major financial institutions around the world.
Click here to find an appropriate financial institution for you.
What are your trading costs and spreads?
Full details of our trading costs, commissions and charges for all the products we trades can be seen in our Commissions, Charges and Margin Schedule.
What security do I have, investing through Saxo Bank
Saxo Bank is a fully accredited European bank and is a member of the
Danish Guarantee Fund for Investors;
an institution established by the Danish parliament. The Fund essentially guarantees your deposit up to
EUR 40,000 in the event that Saxo Bank should become insolvent.
What products will I be able to trade?
Saxo Bank offers a comprehensive range of trading products, including:
- Forex — competitive margin trading on 130+ Forex currency crosses. We offer a full range of Forex investment products including spot Forex on live tradable prices, options and forwards
- CFDs Contract for Difference stock derivatives from 22 major stock exchanges
- Traditional stocks from 19 major stock exchanges
- Contract futures for over 200 futures contracts
- Managed Assests
Please note that only Forex spot and Forex OTC options can currently be offered to US residents. Exchange traded products and CFDs cannot currently be offered due to regulatory restrictions.
How do I trade Saxo Bank's Products?
All Saxo Banks products can be traded together through our SaxoTrader combined trading platform. In addition to live trading and direct access to your account, SaxoTrader offers a wealth of trading information such as real-time quotes, charts and analysis from our own in-house analysts to help you make successful trading decisions.
How secure is trading through SaxoTrader?
SaxoTrader authentication relies on an a RSA 1024-bit key generated and stored on the client workstation and data traffic between SaxoTrader and the bank is encrypted using a RC4 128-bit session key. SaxoTrader provides a highly secure trading environment using state-of-the-art encryption for communications with the bank.
What service will I receive as a client of Saxo Bank?
Even though most trading is done online, we take pride in the level of personal service that we offer our clients. As a new client, you are assigned an Account Executive when you first open an account to help you to get trading as quickly as possible. Your Account Executive will act as your primary contact person with the bank and can be contacted through the online chat facilities available through SaxoTrader or by telephone or email.
Read some of our testimonials referring to the quality of service that we offer.
What regional support is available from Saxo Bank?
Saxo Bank also has international desks to take care of specific countries and languages. We currently have desks specifically for Europe, Middle East, East Asia and China, Eastern Europe, Latin America and Spain. We currently support over 40+ languages and the list is growing.
Testimonials
Read some of our testimonials.