Saxo Bank is a fully regulated European bank and one of the most well-known brokerage firms in the world. It caters to beginner traders as well as professional traders, institutions, and hedged funds as one of the most transparent and reputable banks and brokers in the world. The broker’s main focus is on the professional audience, with better offers starting at €/£50,000, however their Classic Account just requires a €/£500 initial deposit. Trading with Saxo Bank provides you access to over 35,000 assets in eight categories, allowing you to diversify your portfolio completely.
Saxo Bank review are in Copenhagen, Denmark. Lars Seier Christensen, Kim Fournais, and Marc Hauschildt launched this investment bank and fintech startup in 1992 under the name Midas Fondsmglerselskab. It changed its name to Saxo Bank after receiving its banking licence in 2001. On May 2nd, 1996, Saxo Bank became the first Danish broker to acquire authorisation under the European Investment Directive, which went into force in 1996. Although Saxo Bank has a complete banking licence, it does not engage in typical banking operations and instead focuses on brokerage and White Label Partnerships. Over 100 financial institutions are White Label partners who use the Saxo Bank platform to serve their clients. Other banks that have been offered partnerships include Standard Bank, Old Mutual Wealth, Banco Carregosa, and Banco Best.
Saxo Bank has created offices in London, Paris, Zurich, Dubai, Singapore, India, and Tokyo to better serve its worldwide customer base of over 180 nations. Saxo Bank is privately held, with Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co. Ltd, owning 52.00 percent, co-founder and CEO Kim Fournais owning 25.71 percent, leading Nordic financial services group Sampo Plc owning 19.90 percent, and former and current bank employees owning the rest in minority ownership. Saxo Bank is one of the world’s leading brokerage firms, regulated in 15 financial hubs.
Security and Regulation
Saxo Bank is a frontrunner in the market when it comes to openness, since it is regulated in 15 worldwide financial centres. Saxo Bank A/S, with the company registration number 15731249, is a registered bank in Denmark with the licence number 1149. The Danish Financial Supervisory Authority regulates it, as well as its subsidiaries Saxo Bank A/S Italy, Saxo Bank A/S Czech Republic, Saxo Bank A/S Netherlands, and Saxo Bank A/S Cyprus (FSA). Because Saxo Bank is a European Union member, it follows the EU Banking and Investment Directives, which are codified in Danish law.
saxo bank maintenance.
Saxo Bank maintains its commitment to openness by making all papers and information available on their website. Traders may be certain that their funds are in the safest hands available in the global financial system.
Before committing funds to a particular asset class, retail traders should study the Key Information Document (KID) for that asset class.
Despite the fact that Saxo Bank is licenced globally and their website is open to the public, the firm emphasises that all clients will interact directly with Saxo Bank A/S and will be bound by Danish law.
Client monies are kept in separate accounts, and Saxo Bank follows all rules to the letter. Each regulator will have its own set of requirements, which Saxo Bank completely meets. Furthermore, being a Danish bank, client savings are insured up to €100,000 by the Guarantee Fund. This only applies to retail customers; institutional customers are exempt.