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Saxo Bank in Australia — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%35
- Round-turn cost20%80
- Safety20%30
- Payouts15%80
- Track record10%100
- Platforms10%30
Numbered by weight: axis 1 counts for most.
Key facts (5 facts)
- Onboarding entity
- Saxo Australia entity
- Founded
- 1992
- Round turn
- 9 USDAU
- Currencies
- AUD and major FX
- Swap-free account
- —
Licence check
Open an account with Saxo BankThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards Australia residents
- Saxo Australia entity
- Local standing
- Not stated in results
- Licence as the register states it
- Australia license details
- Leverage for this entity
- Country-specific not stated
- The firm behind it
- Danish Saxo group
- What we hold against it
- Acquisition, limited AU detail
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Australian residents enters the score.
Country-specific not stated
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youNot stated in results
- Segregated client fundsstated by the broker
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Australia market median(priced from 73 of 76)
Medians run over the 73 of 76 brokers that publish a price for Australia, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Individual, corporate. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Cost calculator (median of 73 priced of 76)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a AUD conversion because the exchange rate is not part of our data.
Where Saxo Bank sits in the Australia base(76 brokers)
Round-turn cost, USD (73 of 76 priced)
Median 6 USD · range 1.5-20 · this broker 9 USD · 3 of 76 brokers do not publish it
Minimum deposit, USD (7 of 76 priced)
Median 15 USD · range 0-100 · 69 of 76 brokers do not publish it
Retail leverage (42 of 76 with a Australia figure)
Median 1:115 · range 30-5000 · 34 of 76 brokers do not publish it
Withdrawal time published (76 brokers)
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Bank transfer | 24 | 0 | 50 |
| Cards | 24 | 0 | 50 |
Deposit and withdrawal methods (2 methods · 0 local rails)
Bank transfer and cards
- Bank transfer
- Cards
- Account currency
- AUD and major FX
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(10 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- SaxoInvestor
- SaxoTrader
| Class | Count | Min spread |
|---|---|---|
| SaxoInvestor | — | 0.9 |
| SaxoTrader | — | 0.9 |
| All instruments | 71000+ | — |
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.7 | 7,458 |
Share of reviewers in Australia: — The platform does not publish it.
Pros and cons(2 for and 3 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 74 of 76 brokers here that publish a time
- Track record 100 of 100, its strongest of 6 scored axes
- Round turn 9 USD on the standard basis, over the Australia median 6
- No Australia authorisation on file: the entity that onboards you is licensed elsewhere
- Safety 30 of 100, its weakest of 6 scored axes
Alternatives in Australia(5 of 76 scored in Australia)
- Round turn, USD
- 8AU
- Min deposit, USD
- 100AU
- Rank in this country
- #3
- Round turn, USD
- 7AU
- Min deposit, USD
- 0AU
- Leverage
- 500AU
- Rank in this country
- #5
- Round turn, USD
- 7AU
- Min deposit, USD
- 0AU
- Leverage
- 30AU
- Rank in this country
- #7
- Round turn, USD
- 7AU
- Min deposit, USD
- 100AU
- Leverage
- 30AU
- Rank in this country
- #11
- Round turn, USD
- 7AU
- Min deposit, USD
- 100 groupAU
- Leverage
- 30AU
- Rank in this country
- #13
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Australia score. Full methodology
| Axis | Weight | What is measured | Saxo Bank |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 35 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 80 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 30 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 30 |
FAQ
- Does Saxo Bank accept residents of Australia?
- No. Not stated in results Onboarding entity: Saxo Australia entity
- Is Saxo Bank licensed to serve clients in Australia?
- Australia license details Checked on 11.10.2026.
- How much does one round turn cost at Saxo Bank?
- About 9.0 USD per standard lot on EUR/USD. The median across brokers measured for Australia is 6.0 USD.
- Which trading platforms does Saxo Bank support?
- SaxoInvestor, SaxoTrader. Instruments: 71,000+ instruments
- How can I withdraw money from Saxo Bank in Australia?
- Bank transfer and cards
- What account types does Saxo Bank offer?
- Individual and corporate
Taxes for an Australian resident(1 rule)
- Forex/CFD trading gains are not subject to a special standalone tax regime in the cited sources;https://www.home.saxo/content/commentaries/pr/press-release/dma-to-acquire-majority-stake-in-saxo-australia-10022025
Not tax advice. Check with the ATO.