Saxo Account Types

Saxo offers a variety of trading account types to cater to different trading needs and preferences. The main account types include:

• Saxo Classic Account
• Best for: Casual traders
• Minimum Deposit: No minimum deposit required
• Commissions: Floating spread from 0.9 pips
• Leverage: Up to 1:30 (depending on regulatory framework)
• Markets: Access to over 60,000 assets including forex, stocks, ETFs, bonds, and more.
• Platforms: SaxoTraderGo, SaxoTraderPro
• Saxo Platinum Account
• Best for: Traders seeking tighter spreads
• Minimum Deposit: $200,000
• Commissions: Spreads from 0.8 pips
• Leverage: Up to 1:30
• Markets: Same as Classic Account
• Platforms: SaxoTraderGo, SaxoTraderPro
• Saxo VIP Account
• Best for: High-volume traders wanting the best prices and services
• Minimum Deposit: $1,000,000
• Commissions: Spreads starting from 0.7 pips
• Leverage: Up to 1:30
• Markets: Same as Classic Account
• Platforms: SaxoTraderGo, SaxoTraderPro
• Saxo ISA Account
• Best for: Tax-free profits
• Minimum Deposit: $500
• Commissions: From $0.01 per share (minimum $3)
• Markets: 11,000+ assets including stocks, ETFs, and bonds
• Platforms: SaxoTraderGo
• Saxo Joint Account
• Best for: Family members
• Minimum Deposit: $50,000
• Commissions: Spreads from 0.7 pips
• Markets: Same as Classic Account
• Platforms: SaxoTraderGo, SaxoTraderPro
• Saxo Corporate Account
• Best for: Institutional traders
• Minimum Deposit: $100,000
• Commissions: Spreads from 0.7 pips
• Markets: Same as Classic Account
• Platforms: SaxoTraderGo, SaxoTraderPro
• Saxo Professional Account
• Best for: Professional traders
• Minimum Deposit: $2,000 (specific criteria must be met)
• Commissions: Up to 30% lower prices
• Leverage: Up to 1:66
• Markets: Same as Classic Account
• Platforms: SaxoTraderGo, SaxoTraderPro

Saxo Broker Account Opening Process

Opening an account with Saxo is a straightforward process that can be completed online. Here are the steps to follow:

• Visit the Saxo Website: Go to Saxo's official website and click on "Open Account."

• Choose Account Type: Select the account type that best suits your trading needs from the available options.

• Fill in Personal Information: Provide necessary details such as name, date of birth, email, and address.

• Verify Identity: Submit documents for identity verification, which typically include a photo ID and proof of address.

• Complete Financial Information: Fill out information regarding your employment status, income, and net worth.

• Select Account Currency: Choose the currency for your account, which will impact your trading and conversion rates.

• Review and Submit: Carefully review all information and submit your application.

• Account Approval: Wait for approval, which usually takes a few days. You will receive a confirmation email once your account is approved.

• Fund Your Account: After approval, fund your account using your preferred method (bank transfer, etc.) to start trading.

• Start Trading: Once your account is funded, you can begin trading on the Saxo platform.