What trading Saxo costs
One standard lot of EUR/USD on Saxo's Classic account costs at least US$8.00 for the round turn: 0.8 pips of spread (US$8.00), with no commission, on the minimum spread the Singapore site advertises rather than a figure we measured. One standard lot of EUR/USD on Saxo's Platinum account costs at least US$7.00 for the round turn: 0.7 pips of spread (US$7.00), with no commission, on the minimum spread the Singapore site advertises rather than a figure we measured. One standard lot of EUR/USD on Saxo's VIP account costs at least US$6.00 for the round turn: 0.6 pips of spread (US$6.00), with no commission, on the minimum spread the Singapore site advertises rather than a figure we measured.
| Account | A month of trading | One round turn, 1 lot |
|---|---|---|
| Classic0.8 pips, advertised, minimum (Singapore site, 24 September 2026) | at least US$160.00 | at least US$8.00 |
| Platinum0.7 pips, advertised, minimum (Singapore site, 24 September 2026) | at least US$140.00 | at least US$7.00 |
| VIP0.6 pips, advertised, minimum (Singapore site, 24 September 2026) | at least US$120.00 | at least US$6.00 |
A pip on EUR/USD is US$10.00 per standard lot, so the cost of a round turn is the spread in pips times that, plus any commission.
Our verdict on Saxo
I would point traders at Saxo Capital Markets Pte. Ltd. The firm states funding runs through FAST, PayNow and eDDA / eGIRO with no minimum deposit, and its published score of 60.1 out of 100 comes from our global broker test, not a Singapore test, placing it sixth of 16 in our rated Singapore set. One thing gives me pause: the firm states a manual withdrawal form carries an S$50 processing fee even though the online module is available.
The recommendation still stands for traders who withdraw online and want tiered account pricing. Before you deposit, read the fee schedule on the firm's Singapore site yourself.
Pros
- FID lists Saxo Capital Markets Pte. Ltd. as a Capital Markets Services Licensee and an Exempt Financial Adviser.
- The firm states there is no minimum deposit and no inactivity fees on an individual account.
- The firm advertises commission-free trading on index, commodity and bond CFDs.
- A 20-day demo account with US$100,000 in virtual funds is available, the firm states.
- Local SGD funding runs through eDDA / eGIRO, FAST, PayNow and MEPS, the firm states.
Cons
- A manual withdrawal form carries an S$50 processing fee although the online module is available, the firm states.
- The firm states you are solely responsible for any negative balance on your accounts.
- The firm states FX margin is tiered by exposure and shows per instrument in its platform.
Saxo score breakdown
3/5 · Good
Our global rating
The overall CFB Score comes from the full methodology, more than 100 data points per broker. The category ratings summarise each area and do not reconcile by simple average.
How is our rating calculated?How popular is Saxo Markets in Singapore?
Singaporeans made 1,570 branded searches for Saxo Markets in August 2026, placing it 7th of the 8 MAS-licensed firms we rate on a global score. Search interest measures attention, not quality; the score above is the review verdict.
- 1,570
- Brand searches, August 2026
- -6.0%
- vs July 2026
- 740
- Login searches
- 1.8%
- Share of these 8 firms' searches
Source: Google search volume, Singapore, August 2026.
How this is measured
Google Ads reports how many times a month people in Singapore searched each broker's brand terms, and the brokers are ranked on that figure alone.
A term counts for a broker only when that broker's own website holds the first organic Google result for it in Singapore; bare brand words that any company could own are left out.
A month-on-month change prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.
The figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.
Is Saxo safe? MAS licence, Saxo Capital Markets Pte. Ltd.
Yes, the MAS Financial Institutions Directory, read on 24 September 2026, lists Saxo Capital Markets Pte. Ltd. as a Capital Markets Services Licensee and an Exempt Financial Adviser. The firm’s own Singapore site prints the entity as Saxo Capital Markets Pte Ltd, the same firm a Singapore retail client contracts with.
| Fact | What the record says | Source |
|---|---|---|
| Legal name on FID | Saxo Capital Markets Pte. Ltd. | MAS Financial Institutions Directory, read 24 September 2026 |
| Licence types on FID | Capital Markets Services Licensee, Exempt Financial Adviser | MAS Financial Institutions Directory, read 24 September 2026 |
| Products FID lists under Dealing In Capital Markets Products | Securities; Collective Investment Schemes; Exchange-Traded Derivatives Contracts; Over-The-Counter Derivatives Contracts; Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading | MAS Financial Institutions Directory, read 24 September 2026 |
| FID record last updated | 25 August 2026 | MAS Financial Institutions Directory, read 24 September 2026 |
| MAS enforcement actions and media releases naming the entity as subject | None found, searched 24 September 2026 | MAS enforcement actions and media releases, searched 24 September 2026 |
| Entity printed on the Singapore site | Saxo Capital Markets Pte Ltd | Firm's Singapore site, read 24 September 2026 |
MAS actions and the Investor Alert List
We searched MAS’s enforcement actions, media releases and the Investor Alert List on the same read, and no enforcement action or release names Saxo Capital Markets Pte. Ltd. as its subject. The Investor Alert List carries an entry dated 22 December 2017 named “Saxo Capital Resources”, and MAS’s note on that entry states it is not associated with or affiliated to Saxo Capital Markets Pte Ltd. That entry is not an action against Saxo Capital Markets Pte. Ltd., and I would not treat it as one.
This page covers Saxo Capital Markets Pte. Ltd., the entity a Singapore client contracts with, while our global Saxo Markets review covers the brand worldwide.
MAS enforcement and alerts
A search of MAS enforcement actions, media releases and the Investor Alert List on 24 September 2026 under 5 search terms (Saxo Capital Markets Pte. Ltd., Saxo, Saxo Markets, Saxo Capital Markets, Saxo Bank) returned no MAS enforcement action against this company.
MAS Investor Alert List entry that names Saxo Capital Markets Pte. Ltd., with the note MAS publishes on it (an alert list entry, not a MAS enforcement action):
- Saxo Capital Resources
Saxo Capital Resources is not associated with or affiliated to Saxo Capital Markets Pte Ltd, a Capital Market Services Licensee and Exempt Financial Adviser.
Source: the Monetary Authority of Singapore, mas.gov.sg, searched 24 September 2026.
Saxo client money
A Singapore retail client contracts with Saxo Capital Markets Pte. Ltd., the entity the MAS Financial Institutions Directory lists.
Client money, as the firm states it: client money and assets held in accounts separated from the company's own (Firm's Singapore site, read 24 September 2026)
Negative balance, as the firm states it: client responsible for any negative balance (Firm's Singapore site, read 24 September 2026)
Where a Singapore client’s money is held
The firm states that client money and assets are held in accounts separated from the company’s own money and assets. I would read that statement on the firm’s legal pages before funding the account.
Who a Singapore client contracts with
The firm’s Singapore site prints the entity as Saxo Capital Markets Pte Ltd, matching the licensed name. I would confirm that printed name against the Directory entry when opening an account.
Negative balances
The firm states that at all times you are solely responsible for any negative balance or interest on any of your accounts. That clause states the debt that follows if a leveraged position moves against your deposit.
Saxo at a glance: 2 key facts
Minimum deposit, as the firm states it: SGD 0, no minimum deposit (Firm's Singapore site, read 24 September 2026)
Demo account: Available (20 days, USD 100,000 in virtual funds) (Firm's Singapore site, read 24 September 2026)
Saxo spreads and commission
None of the pricing on this page was measured by us. The firm advertises three tiers of pricing, Classic, Platinum and VIP, and states you pay less as you trade more.
What it costs to trade with Saxo
What a trade costs you at this firm is set by the tier your account sits in; the spreads section above covers the pricing the firm advertises.
| Fact | What the record says | Source |
|---|---|---|
| Classic: EUR/USD spread, advertised | 0.8 pips, minimum ("indicative minimum spreads") | Firm's Singapore site, read 24 September 2026 |
| Platinum: EUR/USD spread, advertised | 0.7 pips, minimum ("indicative minimum spreads") | Firm's Singapore site, read 24 September 2026 |
| VIP: EUR/USD spread, advertised | 0.6 pips, minimum ("indicative minimum spreads") | Firm's Singapore site, read 24 September 2026 |
| FX spot and forwards: commission | no commission charged | Firm's Singapore site, read 24 September 2026 |
| US stock CFDs: commission | from USD 3 | Firm's Singapore site, read 24 September 2026 |
| Index, commodity and bond CFDs: commission | commission-free | Firm's Singapore site, read 24 September 2026 |
Other fees a Singapore trader should check
The firm states an S$50 processing charge on a manual withdrawal form, which applies although the online module is available. Beyond that, check the firm’s Singapore site for any custody or currency conversion charge before you deposit.
Saxo deposits and withdrawals
The local routes matter to you more than the international ones if you are funding in SGD, so check which route your bank supports before you set up a transfer.
Funding route: eDDA / eGIRO, FAST, PayNow, MEPS, TT wire transfer, card payments (credit/debit) (Firm's Singapore site, read 24 September 2026)
Withdrawals, as the firm states them: SGD 50 fee when a manual withdrawal form is used although the online module is available (Firm's Singapore site, read 24 September 2026)
Saxo account types and minimum deposit
The firm advertises three account tiers, Classic, Platinum and VIP, and its pricing page states you pay less as you trade more.
| Fact | What the record says | Source |
|---|---|---|
| Account types on the Singapore site | Classic, Platinum, VIP | Firm's Singapore site, read 24 September 2026 |
| Accredited investor terms, as the firm states them | higher leverage / lower margin rates; retail limits relaxed | Firm's Singapore site, read 24 September 2026 |
| Customer Knowledge Assessment, as the firm states it | knowledge assessments and annual account reviews apply to non-accredited clients (stated by contrast) | Firm's Singapore site, read 24 September 2026 |
Minimum deposit
The firm states there is no minimum deposit and no inactivity fee.
Accredited investors
The firm states that accredited investors automatically qualify for its products and so do not need to complete knowledge assessments and account reviews every year, and that some limits and restrictions on regular retail investors are relaxed for accredited investors. For a non-accredited client, the firm states by contrast that knowledge assessments and annual account reviews apply.
Saxo trading platforms
The firm states three platform routes: SaxoTrader, SaxoInvestor and TradingView access. SaxoTrader is stated for trading all asset classes, including leveraged products, SaxoInvestor for stocks, bonds, ETFs and funds, and TradingView access has its own page on the firm’s Singapore site. If I were choosing, I would match the route to what I actually trade.
Saxo execution speed and slippage
Our global broker test panel holds no fill time for Saxo, so this page states no execution figure and no rank for the Singapore entity. My advice is to judge execution on the firm’s own platform once you are live, since no figure on this page was measured on a Singapore account.
Saxo markets
| Fact | What the record says | Source |
|---|---|---|
| Product: spot FX on margin | Margin FX | Firm's Singapore site, read 24 September 2026 |
| Product: other CFDs | Stock, ETF, Index, Commodity, Bond | Firm's Singapore site, read 24 September 2026 |
| Platforms on the Singapore site | SaxoTrader, SaxoInvestor, TradingView (access) | Firm's Singapore site, read 24 September 2026 |
Saxo leverage and margin for Singapore clients
The rule every MAS licensee works under is the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (Rg 13), regulation 24A and the Fourth Schedule, Table 18, which sets a 5% minimum margin for a retail customer (20:1, our arithmetic) and 2% for an accredited, expert or institutional investor (50:1, our arithmetic). That binds every licensee alike, so it is neither this firm’s advantage nor its limit.
Margin or leverage, as the firm states it: FX margin is tiered by exposure and shown per instrument in the platform; no rate is printed (Firm's Singapore site, read 24 September 2026)
Risk warning, as the firm prints it: Losses can exceed deposits on margin products. (Firm's Singapore site, read 24 September 2026)
How Saxo compares with Interactive Brokers and Plus500
On the score, Interactive Brokers sits fifth in the rated Singapore set with 62.3 out of 100 and Plus500 sits seventh with 58.8 out of 100, both from our global broker test, not a Singapore test; Saxo sits between them at sixth.
I would compare these three on the commissions each firm states for the instruments you actually trade, since the headline score is global and your costs are local.
What other review sites say about Saxo
These are ratings of Saxo from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.
| Platform | Rating | Volume | Read on |
|---|---|---|---|
| Trustpilot | 3.6 / 5 | 8,805 | 10 September 2026 |
| TradingView | 3.5 / 5 | 1,698 | 10 September 2026 |
| Google Play | 4.4 / 5 | 9.38K | 10 September 2026 |
Saxo holds a Trustpilot rating of 3.6 out of 5 from 8,805 reviews, checked 10 September 2026.
On TradingView, Saxo is rated 3.5 out of 5 from 1,698 ratings, checked 10 September 2026. The TradingView profile for Saxo shows 27.5K traders, the count of those who have connected an account through TradingView.
SaxoTrader | Trade & Invest is rated 4.4 out of 5 on Google Play (United States store) from 9.38K reviews shown worldwide, checked 10 September 2026.
Our score is based on published criteria and is not influenced by these third-party ratings.
Should you open an account with Saxo?
Yes, if you want a MAS-listed entity with tiered pricing, local SGD funding routes and no minimum deposit, Saxo Capital Markets Pte. Ltd. fits that brief. I would point active traders and investors who withdraw online towards it, and I would point traders who rely on manual paperwork elsewhere.
The limits are real and I have named them plainly: the manual withdrawal fee and the negative balance responsibility the firm states. None of that changes the recommendation for an online-first trader, but you should weigh it against your own habits. Before depositing, search the MAS Financial Institutions Directory for the entity yourself and read the fee schedule and margin terms on the firm’s Singapore site.
FAQs
Is Saxo licensed in Singapore?
What is the minimum deposit for a Saxo account in Singapore?
How much leverage can a Singapore retail client get at Saxo?
What score does Saxo hold on this site?
Testing log
| Record | Detail |
|---|---|
| MAS Financial Institutions Directory read | 24 September 2026 |
| MAS enforcement actions, media releases and Investor Alert List searched | 24 September 2026 |