Saxo is a Danish investment bank offering a premium multi-asset investing platform to Australian retail and professional investors. Saxo provides access to stocks, ETFs, bonds, options, futures, forex, and CFDs across 70+ exchanges worldwide. It is positioned at the higher-cost, higher-capability end of the Australian broker market — suited to experienced investors wanting a comprehensive global platform.
Saxo at a Glance
| Feature | Detail |
|---|---|
| ASX brokerage (Classic) | 0.12% (min $10) |
| US shares brokerage (Classic) | USD 0.08% (min USD 3) |
| ASX brokerage (Platinum) | 0.10% (min $8) |
| Monthly platform fee | $0 for active accounts |
| CHESS sponsored | No — custodian model |
| Minimum deposit | $1 (no set minimum, but Platinum requires higher balances) |
| Asset classes | Shares, ETFs, bonds, options, futures, FX, CFDs |
| International markets | 70+ exchanges globally |
| Mobile app | Yes |
| Managed portfolios | Yes (SaxoSelect) |
Account Tiers
Saxo offers tiered accounts with progressively lower brokerage:
- Classic: Entry level
- Platinum: Lower commissions, priority support (typically $200,000+ portfolio value)
- VIP: Institutional rates (very large portfolios)
This tiered structure means Saxo becomes more competitive as portfolio size grows.
Brokerage vs Competitors
| Trade (ASX $10,000) | Saxo Classic | SelfWealth | CommSec |
|---|---|---|---|
| Fee | $12.00 (0.12%) | $9.50 | $19.95 |
For smaller trades, Saxo’s percentage fee makes it less competitive than flat-fee platforms. For very large trades, the percentage model can become expensive unless on a higher tier.
Global Market Access
Saxo’s primary differentiation is its global breadth:
- 70+ exchanges across US, Europe, UK, Asia, Middle East, and more
- Access to bonds, futures, options, and forex alongside equities
- Multi-currency accounts (hold AUD, USD, EUR, GBP simultaneously)
- Professional-grade charting and analytics (SaxoTraderGO platform)
For investors wanting to build a sophisticated global multi-asset portfolio beyond what Australian retail brokers typically offer, Saxo’s range is unmatched in the Australian retail market.
SaxoSelect — Managed Portfolios
Saxo offers pre-built managed portfolios through SaxoSelect — including thematic and diversified ETF-based portfolios. These carry management fees in addition to brokerage and are available directly through the Saxo platform.
Custodian Model
Saxo uses a custodian model — ASX-listed securities are not CHESS sponsored. See CHESS vs Custodian.
Saxo Pros and Cons
Pros
- Broadest global market access available in Australian retail market (70+ exchanges)
- Multi-asset: shares, ETFs, bonds, options, futures, FX, CFDs
- Professional-grade platform (SaxoTraderGO)
- Multi-currency accounts
- Lower commissions for larger portfolios (tiered)
Cons
- Custodian model — not CHESS sponsored
- Percentage-based brokerage is expensive for small trades
- Complexity — significant learning curve for beginners
- Higher minimum meaningful portfolio size for competitive pricing (Platinum tier)
- Customer support less accessible for smaller accounts
Who Is Saxo Best For?
Saxo suits:
- Experienced investors with larger portfolios wanting global multi-asset access
- Investors wanting bonds, options, or futures alongside equities
- Investors building sophisticated international portfolios
- Those wanting a single platform for multiple asset classes
Beginners or ETF-focused investors are better served by Superhero, Pearler, or SelfWealth.
Related Articles
- Options Trading Platforms Australia
- Best Broker for International Shares
- CHESS vs Custodian Explained
- Brokerage Fees Comparison Australia
- Share Trading Platforms hub
Frequently Asked Questions
Is Saxo regulated in Australia? Yes. Saxo Capital Markets Pty Ltd holds an AFSL regulated by ASIC, and is authorised to provide financial services to Australian retail and wholesale clients.
Does Saxo offer CHESS-sponsored ASX holdings? No. Saxo uses a custodian model — ASX holdings are not registered directly in the investor’s name.
What is the minimum deposit for Saxo Australia? There is no mandatory minimum deposit, though accessing competitive Platinum-tier pricing typically requires a significantly larger portfolio balance.
This article provides general financial information only. Saxo fees and features described are as of the date of publication and may have changed. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.