Banking · Online broker
Saxo Bank: Danish investment bank open to non-residents
Danish bank specialising in investment, present through subsidiaries and branches in several European countries. Pricing conditions vary according to the country of residence, as the provider itself states.
Please note
Characteristics
- Family
- Online broker
- Regulator
- Not provided
- Regulator country
- Not provided
- Deposit guarantee
- Yes
- Remote opening
- Yes
- Currencies
- EUR · USD · GBP · CHF
- Services
- Multi-currency account · Securities and trading
- Accepted residencies
- Not provided
- Refused residencies
- Not provided
The provider states that its prices are indicative and vary according to the country of residence. The schedule applicable to a given residence must be read on the platform after the account application has been opened.
Published figures
- Account fee0.12%home.saxo
- Brokerage feeNot provided
- Deposit guarantee ceilingNot provided
- Entry ticketNot provided
Custody fees expressed as a percentage
The entry-level offering applies annual custody fees of 0.12%1 on shares, exchange-traded funds and bonds. Unlike a flat fee, a percentage grows with the portfolio: it weighs little on a small portfolio and becomes the largest cost item on a large one.
This is the central trade-off between the two pricing models on the market. A tiered flat-fee schedule favours large portfolios; a percentage favours small ones. The tipping point can be calculated, and it depends on the portfolio size targeted in five years, not on today's.
What the provider itself says about its prices
The pricing page states that the prices shown are indicative and vary according to the country of residence, and refers to the platform for the exact schedule. This caveat is published by the provider: it is not our interpretation.
We do not publish brokerage commissions by exchange: the tables on the pricing page did not load when we consulted it, and we do not reproduce a figure we have not read. They must be read on the schedule applicable to the country of residence.
For an expatriate, this caveat has a direct consequence: two people holding the same portfolio with the same provider may pay different fees depending on their country of residence. Prices can therefore only be usefully compared once residence is settled.
Sources and verification dates
- 1.
Account fee : 0.12%
« Custody fee p.a.Classic accountPlatinum accountVIP account Stocks and ETFs/ETCs/Bonds0.12 %0.12 %0.08 % »