Saxo Group Reviews 

I have had a SaxoTrader investment account with Saxo for a year and a half. At first, they were pleasant to deal with. Then came ‘Know Your Customer’ – corporate speak for ‘don’t deal with villains’ and a mantra for governments wanting to disassociate their financial sectors from bank robbers, cocaine dealers, tax evaders, crypto scammers, people smugglers and so on.

I am none of those things. I’m a 74-year-old tax-paying, retired employee living on a pension, but in Saxo’s world, you're guilty until you can prove yourself innocent. The problem is that I’m British yet married to a Thai so, wherever we live as a couple, one of us is going to be an ex-pat. It happens to be me and Saxo doesn’t like that. I don’t know if their issue is xenophobia or paranoia, or perhaps they have risk-assessed my adopted country and concluded it’s full of gangsters. Whatever the reason, Saxo is convinced I’m a fraudster of some sort.

In addition to the documents I presented when opening the account, I have now been required to hand over two more tranches of papers to prove where my modest ‘wealth’ comes from (answer: occupational and state pensions). Each time Saxo demands new documents, or sometimes the same documents again, they block my account for the multiple weeks it takes them to assess them. To me it’s like armed soldiers of an occupying force repeatedly demanding my ‘papers’. It is very unpleasant being treated like a criminal by fierce compliance nerds with limited social skills.

Saxo, you need to improve the way you deal with customers. We’re human! You may be under pressure to ‘Know Your Customer’, but you also need to ‘Respect Your Customer’, otherwise you will ‘Lose Your Customer’.

After the second block on my account, it became doubtful whether I had a future with Saxo, so I opened an account with Interactive Brokers as back-up. The process there was less painful than with Saxo. They didn’t demand batch after batch of papers. They seem to use AI more extensively than Saxo, but I’d much prefer a respectful IB droid to an aggressive Saxo human who thinks I’m a crook.

Then Saxo decided I was no longer allowed to invest money from my pension on their site because it comes from the UK via an international bank account. When some other customers complained about this new rule, the Saxo boffins changed their minds and said that they may allow me to invest my pension after all, but only if I send them a lot more documents, including those I’ve sent before and others that don’t exist because Saxo invented them. That was enough for me. In future, I will invest with IB and, if things don’t get better at Saxo HQ, I will withdraw my existing investments. I should stress that I’m not a shareholder in IB; other online brokers may be fine too.

If you live in Denmark, Saxo may be OK (I don’t know). If you live somewhere else and especially if you’re an expat, from my experience I would say: ‘Don’t allow Saxo’s scary demands get you down. There are other brokers out there who will treat you with respect.’

Saxo Singapore used to be ok.

Since we decided to transfer the shares and funds to another broker, the process has been very difficult.
We asked the bank to transfer our portfolio in early June, and at the time of this writing, i.e., July 20, 2026, one share is still missing.

We wrote to them on many occasions, but they always hide behind excuses.

TO AVOID

Monika was very helpful and polite. Resolved my issue as quick as possible

Warning!

Do not consider using this broker for currency trading. They manipulate bid and ask prices, resulting in price levels that differ from official market quotes.

I had two identical positions open simultaneously—one with Saxo Bank and one with TradeNation—using the same stop-loss level. The position at Saxo was closed approximately 50 pips above the stop-loss, while the official market ask price never reached the stop-loss level.

Based on this experience, I strongly question the accuracy and fairness of their pricing, and this raises serious concerns about how prices are quoted and executed on their platform.

So avoid this broker at any cost.

Knowledgeable & sorted issue out in a professional manner

Jaya was knowledgeable, efficient and identified and got to the root of the problem quickly. Thank you!

I've had an account with Saxo Bank in Singapore for at least 12 years. My experience during this time has been entirely positive. Trading stocks is inexpensive and seamless. I'm not a trader, but rather a regular small investor with minimal portfolio activity for the past 45 years. However, in recent months, my positive experiences have turned into a nightmare. Saxo is demanding that I provide detailed information about the origin of my assets, otherwise my account will be blocked, which they have already done once, resulting in financial losses for me. Before becoming a Saxo client, my investments were held with several banks and asset managers in Europe and Singapore. When I sold securities, the proceeds were transferred to Saxo. Stocks were also transferred, depending on which was the most cost-effective option. So far, so good for many years. But now they are asking in detail about the origin of the transfers. "12 years ago, you made a security transfer of USD x,xxx,..." Saxo is requesting proof of where the money came from and how it grew to this amount over the years. How am I supposed to know that after so many years? "Please take a moment to update your information to ensure that you maintain uninterrupted access to your account." It's not about a moment, but rather 20-30 hours that I, an elderly, visually impaired man, have been desperately trying to comply with Saxo Bank's half-baked demands.

I acquired my wealth over 45 long working years through savings, inheritances, and above all, interest and capital gains. Saxo is now demanding precise information about the deceased, the will, etc. My father died more than 30 years ago, and I no longer have any documents related to him. I have since moved to another continent and destroyed this superfluous paperwork beforehand.

I must advise you against this bank, because the department that sends out these threatening letters probably doesn't even read my replies. Then comes their AI-generated response, a standard reply that refers you to their help articles. Besides this, there's a department that offers help with other problems, often staffed by friendly women. But there seems to be no communication between the departments. Perhaps they're even located in different countries. Overall, the service is very slow, answers rarely come sooner than a week, and it's not at all customer-focused. At 81 years old, I'm reluctant to switch to another bank. Never in the past 60 years have I been treated so poorly by a bank.

I had an issue with my account. I called at 8 40 AM and Aditi managed to get me all the details of the problem by 9 15 AM. She also followed up on all my questions outstanding, keeping me updated, telling me openly that it may take a couple of days and reverting to me promptly. Very grateful to Aditi for her help

My question was answered and the steps necessary to resolve my problem were clearly outlined. Having followed the instructions provided, my problem was resolved.

Very user friendly platform, good rates, very well regulated broker and excellent customer support.

I got the help i need from customer service

Miles better than your HL, AJ, Interactive or IG. Professional and personalised account management for serious investors and traders. Very positive changes since the recent Safra acquisition. Special thanks to Lucy for doing a great job !

Recently set up a trading account with Saxo. Great introductory call that sorted out all of my queries and needs to move forward.

I made a panic call to the customer support at Saxo. Pranav made sure that I clamed down first. I explained the issue and he explained me what they would do and what should I expect in the coming moments and also days.Assurance from his side made me feel confident that the problem would get solved. The instructions on my next steps were also clear and I did receive prompt responses from him. In the world of chat bots and almost no human interaction, I really thank him and the entire team for being patient to understand the problem, providing empathy when needed, being human despite being absolutely professional.

The Saxo trading platform is suitable for both investors and traders. It offers a broad range of instruments spanning multiple asset classes and currencies. With a clear layout, it is reliable and easy to trade and includes detailed information and research on the markets. Their customer service is particularly responsive and helpful and is backed up by supportive relationship managers. Low execution costs generally are allied with extra benefits based on a client tier system. I have been with Saxo for many years and highly recommend them.

UPDATED 15 JUL 2026

*After giving me an impossible deadline to submit documents and then restricting my account, today I learned that it's going to take significant time to get the compliance team to actually look at the documents they asked for.

I am grateful for my account manager but shocked at how Saxo's compliance team manage accounts and resources.
I have a brokerage account with Saxo and recently received a request for additional compliance documents. Saxo gave me only three days to respond, despite the fact that the documents they requested take at least five working days to obtain.

I explained this and was told that my account would not be restricted because I had not been given adequate time to provide the documents. I also spoke with my account representative, who assured me that this would not happen.

Despite those assurances, Saxo went ahead and restricted my account anyway.

This is extremely frustrating and concerning. I have no issue providing compliance information, but clients need to be given a realistic timeframe, especially when the requested documents depend on third parties and cannot physically be produced within Saxo’s deadline.

I am asking Saxo to resolve this immediately, remove the restriction, and process my documents as quickly as possible once submitted. This could have been handled reasonably, but instead I was given an unrealistic deadline and then penalised for something outside my control.

I have switched my account from another provider to Saxo Bank and have been dealing with Jacopo who has helped me all the way. He has been extremely helpful and professional throughout the process. My initial experience suggests I am dealing with a professional and motivated people.

Ritika was a superb advocate for my interests as a client while also representing Saxo perfectly. She should be commended for her adept handling and quality of care to Saxo clients.

Easy onboarding, broad range of instruments, and a friendly follow-up call within days of getting set up.

Very friendly and competent communication. Jaya could support me on different matters. I can highly recommend her.