The minimum deposit amount required to register a live trading account with Saxo Bank is $1000. This minimum deposit is equivalent to R16000 ZAR at the current exchange rate between the US Dollar and the South African Rand at the time of writing.
Saxo Bank at a Glance
| Broker's Name | Saxo Bank |
| 🏛️ Headquarters | Copenhagen |
| 📅 Year Founded | 1992 |
| ⚖️ Regulating Authorities | FCA, Consob, Czech National Bank, Bank of the Netherlands, Monetary Authority of Singapore, FINMA, Bank of France, Central Bank of the UAE, FSA, Securities and Futures Commission of Hong Kong, ASIC |
| 🌐 Countries not accepted for trade | United States, India, South Africa, Nigeria, Brazil, Pakistan, Spain, Portugal, Mexico, Kenya. |
| 📌 Accounts | Saxo Account Joint account Corporate account Professional account Portfolio ased Margin account |
| ☪️ Islamic account (swap-free) | No |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | Yes |
| ⬆️ Maximum Leverage | 1:3000 |
| 👉 Sign Up Bonus | No |
| 💰 Minimum Deposit | USD 0 USD / 0 ZAR |
| Spread | 0.0 pips |
| 💳Fees | Deposit and Withdrawal fees |
| 💳 Deposit Options | Bank wire transfer Credit and debit card |
| 💳 Withdrawal Options | Bank wire transfer Credit and debit card |
| 📊 Platform Types | Saxo TraderGO |
| 📶 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Forex Bonds Equities ETFs Mutual Funds Options Futures CFDs (Depending on region) Cryptos |
| 💬 Languages supported on Website | Multiple |
| 💬 Customer Support Languages | Multiple |
| ⏲️ Customer Service Hours | 24/5 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
FCA, FINMA, FSA, ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
160+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our Saxo Bank below.
Saxo Bank Minimum Deposit – 8 key point quick overview:
Saxo Bank at a Glance- Saxo Bank Overview
- Saxo Bank Deposit fees and deposit methods
- A step-by-step guide to depositing the minimum amount into a Saxo Bank account
- Saxo Bank Customer Reviews
- Saxo Bank Pros and Cons
- Saxo Bank Conclusion
- Frequently Asked Questions
Saxo Bank Overview
The minimum deposit amount required to open a broker account with Saxo Bank will vary depending on the currency in which you wish to deposit, as follows:
- Denmark: No minimum
- United Kingdom: 500 GBP
- Singapore: 3,000 SGD
- Malaysia: 3,000 SGD
- Australia: 3,000 AUD
- China: 2,000
- Hong Kong: 2,000
- Norway: No minimum
- France: 2,000 EUR
- Netherlands: 2,000 EUR
- United Emirates: 10,000 USD
- Czech Republic: 10,000 USD
- Poland: 10,000 USD
- Slovakia: 10,000 USD
Overall, these are high minimum deposits which should present a high barrier of entry to most new and beginner traders.
Saxo Bank Deposit fees and deposit methods
Saxo Bank only provides bank wire transfers and credit or debit cards as deposit options. The broker does not provide any e-wallet deposit options.
In terms of deposit currencies, Saxo Bank has a wide selection of up to 26 deposit currencies. These include smaller currencies like ZAR/Rand so that most traders will likely not incur conversion fees when depositing with the broker.
In terms of deposit security, Saxo Bank is widely regulated by ten international regulators, including such reputable regulatory bodies as the FCA, Consob, and ASIC.
Under this regulation, client funds are held in segregated accounts with reputable banks, and Saxo Bank participates in a client compensation scheme that insures deposits in the unlikely event of broker insolvency.
In terms of fees, Saxo Bank does not charge deposit or withdrawal fees. However, your financial institution may charge a fee that is beyond the broker’s control – international bank wire transfers, in particular, can prove rather expensive, depending on your location.
A step-by-step guide to depositing the minimum amount into a Saxo Bank account
1. Step 1 – Log into your registered account
Navigate to the client area. Log in to your account.
2. Step 2 – Select deposit option
Select the option to deposit funds Specify the amount and your preferred payment method. Withdrawals must be made in the same method used to deposit. Confirm and submit your deposit
Saxo Bank Customer Reviews
Too High commissions
Too High commissions
Does not Care too much about client risk.
I’m happy here
I’m happy here, it suits me more than ever
one of the better banks in terms of…
one of the better banks in terms of services and rates in that country
Saxo Bank Pros and Cons
| ✔️ Pros | ❌ Cons |
| Impressive trading platforms | High minimum deposit |
| Wide range of instruments | No sign-up bonus |
| Attractive commissions on referrals | No swap-free account is available |
| Well-regulated broker | Relatively high commissions |
| No deposit or withdrawal fees | High commissions |
| Wide selection of deposit currencies | No Islamic Account |
Saxo Bank Conclusion
Overall, The minimum deposit amount required to register a live trading account with Saxo Bank is $1000. This minimum deposit is equivalent to R16000 ZAR at the current exchange rate between the US Dollar and the South African Rand at the time of writing.
You might also like: Saxo Bank Account Types
You might also like: Saxo Bank Demo Account
You might also like: Saxo Bank Fees and Spreads
You might also like: Saxo Bank Review
You might also like: Saxo Bank Sign Up Bonus
Min Deposit
USD 0
Regulators
FCA, FINMA, FSA, ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
160+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
Are my deposits safe with Saxo Bank?
Yes. Saxo Bank is widely regulated by ten international regulators, including such reputable regulatory bodies as the FCA, Consob, and ASIC. Under this regulation, client funds are held in segregated accounts with reputable banks, and Saxo Bank participates in a client compensation scheme that insures deposits in the unlikely event of broker insolvency.
What are the deposit and withdrawal methods with Saxo Bank?
Saxo Bank only provides bank wire transfers and credit or debit cards as deposit options. The broker does not provide any e-wallet deposit options.
What is the minimum deposit for Saxo Bank?
The minimum deposit amount required to open a broker account with Saxo Bank will vary depending on the currency in which you wish to deposit, as follows:
- Denmark: No minimum
- United Kingdom: 500 GBP
- Singapore: 3,000 SGD
- Malaysia: 3,000 SGD
- Australia: 3,000 AUD
- China: 2,000
- Hong Kong: 2,000
- Norway: No minimum
- France: 2,000 EUR
- Netherlands: 2,000 EUR
- United Emirates: 10,000 USD
- Czech Republic: 10,000 USD
- Poland: 10,000 USD
- Slovakia: 10,000 USD
Does Saxo Bank charge withdrawal fees?
No, but your financial institution may charge a fee that is beyond the broker’s control – international bank wire transfers, in particular, can prove rather expensive, depending on your location.
How long does it take to make a withdrawal?
Generally, bank wire transfers can take up to 5 business days, depending on your location, while credit or debit card withdrawals are typically processed on the same day.
Top 4 Brokers
