SaxoBank
A licensed Danish bank with single-account access to stocks, ETFs, bonds and funds with real ownership, plus trading in CFDs and in exchange-listed options and futures. It serves clients resident in the European Union and in a limited number of other countries.
- CFD trading
- Options trading
- Futures trading
- Stock market investing (spot)
The chips also show what the company does NOT offer — useful information if those are exactly the directions you are looking for. For each ticked direction you will find a separate chapter below, with its accounts and its conditions.
TIER 1 — TOP-LEVEL REGULATION
- 1992
- Founded · a banking licence since 2001
- 11
- Jurisdictions where the group is regulated
- A−
- S&P Global Ratings credit rating
- SIFI
- A systemically important institution, since 2023
Open an account with SaxoBank
Retrieved on 2026-08-25
✓ Trading.md is an official SaxoBank partner
With us you get assisted onboarding, help choosing the right account and technical support in Romanian and Russian — at no additional cost.
For investing — shares and ETFs with real ownership:
Open a real account — Stock market investing (spot)Test the conditions and your strategies free of charge:
Demo accountNot sure where to start? The consultation is free — together we go through opening the account, verifying the documents and the first settings of the platform. Book a free consultation ›
Chapter 01
Introducing the company
Saxo Bank was founded in Denmark in 1992 and received a banking licence in 2001 — the only category of authorisation in Denmark that allows taking deposits from the public. It is therefore a licensed bank, not just a brokerage company: it executes orders, holds clients' securities in custody and takes deposits.
Since June 2023 it has been designated a systemically important financial institution by the Danish authority, which means higher capital requirements, extended reporting and stricter supervision than for an ordinary institution. It has an A− credit rating from S&P Global Ratings and over 1.5 million clients.
The company's business card
| Legal name | Saxo Bank A/S · număr de înregistrare 15731249. Entitatea la care se deschide contul depinde de țara de reședință. |
|---|---|
| Year founded | 1992 |
| Group structure | Bănci licențiate în Danemarca și Elveția; firme de investiții în Regatul Unit, Singapore și Japonia; sucursale în Franța, Belgia, Olanda, Cehia și Emiratele Arabe Unite. Companie privată: Bank J. Safra Sarasin a preluat majoritatea în martie 2026, iar în iulie 2026 a anunțat acordul pentru restul acțiunilor, cu închiderea condiționată de aprobări de reglementare. |
| Head office | Philip Heymans Allé 15, 2900 Hellerup, Danemarca |
| Official website | www.home.saxo |
| Leadership | Daniel Belfer, director general, din martie 2026. Kim Fournais, fondator, președinte al consiliului de administrație. |
| Offices | Danemarca, Elveția, Regatul Unit, Franța, Belgia, Olanda, Cehia, Italia, Japonia, Singapore, Emiratele Arabe Unite. Regiunea noastră e deservită din Praga. |
| Clients | Peste 1,5 milioane |
| Audit | Rapoarte anuale auditate și indicatori de capital, depuse la autoritatea daneză a comerțului |
| Directions offered | CFD trading · Options trading · Futures trading · Stock market investing (spot) |
| Minimum deposit | Fără prag de alimentare la nivelul Classic, în majoritatea țărilor |
How the company earns
Market maker model (with a dealing desk)
A licensed bank. Not just a brokerage company: it executes orders, holds securities in custody and takes deposits. On margin products it remains the client's counterparty; on stocks and ETFs it routes orders to exchanges and executing brokers.
That is where the main revenue comes from: the difference between the buy and sell price on margin products, plus the per-trade commission on real securities.
The remaining sources, in the order the client meets them: interest on positions held overnight, currency conversion of up to 0.25%, the annual custody fee on securities held. It charges no inactivity fee.
Being a bank, it also earns from banking activity proper — interest, account administration, services for institutional clients. Its revenue does not depend only on your trading, and that matters for stability.
The model is legal and supervised by the authorities that granted the licences.
What sets it apart
It publishes the list of its liquidity providers, by name. In a document updated in February 2026, the bank names its two main brokers, the banks and market makers it takes its price from, the brokers through which it executes stock orders and the exchanges it has access to. It also declares that it receives no payment for routing orders to a particular execution venue. That matters for anyone who wants to know where the price comes from and who is on the other side of the trade.
A single account for real assets and margin products. Stocks from dozens of exchanges, ETFs, bonds and funds are bought with real ownership, while CFDs, options and futures are traded from the same account, against the same collateral. That matters for the investor who holds a long-term portfolio and trades occasionally, without wanting two accounts at two companies.
Banking services and additional services
These are not protections for your money, but commercial services, with their own rules and their own risk.
Securities lending
Stocks and ETFs in the portfolio can be lent to other participants, depending on market demand, and the holder receives a share of the income. The risk: for the duration of the loan the securities are with someone else, and their treatment in the event of the counterparty's insolvency differs from that of securities simply kept in custody. It is discussed before activation.
Interest on cash in the account
Paid only at the highest account tier. At the entry tiers, unused cash produces nothing. Availability and conditions differ depending on the country of residence. Worth knowing before leaving large unused amounts in the account.
Integrations and interfaces
Third-party platforms for analysis and programming, plus two of the bank's own interfaces for those who build their own tools or connect external systems.
Chapter 02
Regulation and the safety of your money
The Saxo group operates authorised entities in eleven jurisdictions. The main licence is the Danish banking one, supervised by the Danish financial authority; clients from the European Union, including those from Romania, come under it through passporting. The bank serves a limited number of countries: an account opens only if your country of residence appears in the registration form. Romania is on the list; the Republic of Moldova is not. For a Moldovan citizen resident in a served country — most often Romania — the account opens like for any other client there. The list was checked on 28 July 2026 and may change.
| Regulatory authority | Country | Legal entity | Licence no. | Check in the register |
|---|---|---|---|---|
| TIER 1 — TOP-LEVEL REGULATION | ||||
| Finanstilsynet — Danish Financial Supervisory AuthorityThe group's principal licence. The only licence category in Denmark that allows taking deposits from the public. | Denmark | Saxo Bank A/S | 1149 | finanstilsynet.dk |
| FINMA — Swiss Financial Market Supervisory AuthorityFINMA does not issue licence numbers — the type of authorisation is stated. | Switzerland | Saxo Bank (Schweiz) AG | banking and securities dealer licence | finma.ch |
| FCA — Financial Conduct AuthorityThe reference number is taken from the FCA register at publication; until then the cell shows the type of authorisation. | United Kingdom | Saxo Capital Markets UK Ltd | investment firm authorisation | register.fca.org.uk |
| MAS — Monetary Authority of SingaporeMAS does not issue licence numbers in this format. | Singapore | Saxo Capital Markets Pte Ltd | capital markets services licence | eservices.mas.gov.sg |
| JFSA — Financial Services AgencyThe registration from the Japanese register is taken at publication; until then the cell shows the type of authorisation. | Japan | Saxo Bank Securities Ltd. | investment firm authorisation | fsa.go.jp |
| TIER 2 — MID-LEVEL REGULATION | ||||
| None. | — | — | — | — |
| TIER 3 — OFFSHORE (GLOBAL) LICENCES | ||||
| None. | — | — | — | — |
How client money is protected
The protections below depend on the rules of each entity and we explain them at length, for all our partners, in the guides of the Brokers section; here — briefly, for orientation:
Segregation of funds — Segregation of funds — client money sits in bank accounts separate from the bank's own money. The bank cannot use it for its own expenses, and the institution holding it cannot set it off against its own debts. Securities are held in custody, directly at the central depository or through external custodians, with segregation and identification clauses in the contracts with them.
Negative balance protection — Negative balance protection — the account cannot go below zero: if a sudden price move pushes the balance negative, the bank covers the difference. It is imposed by regulation in the European Union, the United Kingdom and Australia, for non-professional investors, at trading-account level. Professional clients do not benefit from it.
Compensation scheme — Compensation scheme — clients of the Danish bank fall under the Danish depositor and investor guarantee scheme, administered by an independent public company. It covers the failure of the bank, not trading losses or a fall in the value of investments. Cash deposits are covered up to the equivalent of EUR 100,000 per depositor. For financial instruments that cannot be returned, coverage is up to the equivalent of EUR 20,000, and the compensation cannot exceed the value of the unreturned securities. The scheme covers non-professional investors only. What a compensation fund is, we explained in the Glossary ›. What gets returned anyway. As a general rule, clients' securities — stocks, bonds, fund units — are returned in the event of resolution or bankruptcy, because they do not belong to the bank. The compensation scheme steps in only if return is not possible. The bank also openly states the remaining risk: where the national law of an external custodian does not allow clients' securities to be identified separately, there is a possibility that they cannot be claimed from that custodian's bankruptcy estate. We have explained what a compensation fund is in the Glossary.
Chapter 03
CFD trading
A CFD is a contract for difference: you don't buy the asset, you speculate on the direction of its price, with leverage. At Saxo, CFDs cover stocks, ETFs, indices, commodities, bonds and cryptocurrencies. Everything that follows in this chapter refers to CFDs — for stocks bought with real ownership, see Stock market investing ›.
The tables below show the main conditions. The button adds the detailed rows — technical specifications, useful if you already know what you are looking for.
The demo account is available for all the types above, with the same conditions and virtual money.
The account without overnight interest is obtained by converting an existing account, on request.
Tiers are earned through initial funding or by accumulating points from trading activity. Once reached, a tier is kept for twelve months, with a grace period of another twelve on the way down.
Chapter 04
Options trading
Options give the right, not the obligation, to buy or to sell at a set price, by a set date. The buyer's risk is limited to the premium paid; the seller's is not. At Saxo you trade exchange-listed options — standardised contracts, not products built by the bank.
General conditions
| What is traded | Over three thousand listed options on shares, indices, energy, metals and rates, from twenty exchanges. Separately, options on the currency market, over the counter (OTC) — that is, negotiated directly with the bank, not on an exchange. |
|---|---|
| Commission | From 0.75 USD per contract on listed options |
| Who executes | Options exchanges in the United States, Europe and Asia, through executing brokers. On currency options, the bank is the counterparty. |
| Client profiles | Important. The default profile only allows buying options. Selling (writing) requires activating the advanced profile: a minimum account value of five thousand dollars and a written confirmation that you understand the risk. A new client cannot sell options from day one. |
| Margin on short positions | Premium margin plus additional margin for overnight moves, monitored in real time. Margin reduction schemes exist for covered combinations. |
| Automatic exercise | Listed options that close in the money by at least one price increment on the last trading day are exercised automatically. The client cannot ask the bank not to exercise them. |
Chapter 05
Futures trading
A futures contract is a firm commitment for both sides, with an expiry. The contract represents a fixed quantity of the asset, and its value can far exceed the margin posted. The margin is set by the exchange, not the bank, and can change during the session. At Saxo these are real, exchange-listed futures — not CFDs built on top of them.
General conditions
| What is traded | Over two hundred and fifty contracts, from twenty-five exchanges: stock indices, energy, metals, agricultural products and interest rates |
|---|---|
| Commission | From 1 USD per contract |
| Margin | Set by the exchange, shown per contract in the platform. There is no centralised public table. |
| Physical delivery | The bank does not support physical delivery of commodities; positions are closed before expiry. |
| Who executes | Futures exchanges in America, Europe and Asia — among others Chicago, New York, Eurex, Euronext, ICE, Osaka and Singapore — through executing brokers |
Chapter 06
Stock market investing (spot)
Stock market investing (spot) means stocks and funds bought with real ownership: the security is yours, it appears in custody in your name and gives you the rights that flow from it. It is this bank's main direction and the clearest difference from a brokerage company offering only CFDs.
The tables below show the main conditions. The button adds the detailed rows — technical specifications, useful if you already know what you are looking for.
The demo account is available for all the types above, with the same conditions and virtual money.
The account without overnight interest is obtained by converting an existing account, on request.
Chapter 07
Platforms and tools
| Platform | What for | Where it runs |
|---|---|---|
| SaxoInvestor | Simple investing: stocks, funds and bonds, with the basic tools for managing a portfolio | Web, iOS, Android |
| SaxoTrader | The full range of products, margin trading, over eighty-five technical indicators, an options chain with real-time data | Web, iOS, Android |
| SaxoTrader pentru desktop | A customisable workstation, with multiple screens and extra features | Windows, macOS |
Analysis included
The company provides analysis tools inside the client area — calendars, calculators and market commentary. These are information tools, not trading recommendations.
Education
The company publishes its own learning material in its support languages. In Romanian and Russian, the teaching side is ours. See our courses
What it lacks: copy trading and a social trading network. Anyone looking to automatically copy someone else's positions won't find that here.
Chapter 08
Deposits and withdrawals
The rules follow the standards of the field: money comes in and goes out only through cards or bank accounts opened in your name (an anti-money-laundering rule). Below you have the conditions for transactions with bank accounts from Moldova.
| Method | Deposit / duration | Withdrawal / duration | Keep in mind |
|---|---|---|---|
| Bank transfer | no fee from the bank · usually 2–5 business days | no fee from the bank · usually 1–3 business days | Requests submitted through the platform by 14:00 Central European Time are processed the same business day. |
| Credit or debit card | usually immediate | — | There are restrictions depending on the country of residence, and the module is not available to all clients. Withdrawals do not go to the card but to the bank account it is attached to. |
| Transfer between sub-accounts | instant | instant | Done at the current conversion rate, with a mark-up of up to 0.25%. |
How a withdrawal is made
Withdrawal requests are processed, after the account has been verified, usually much faster than the official deadlines indicate. The withdrawal first returns to the method used for the deposit; the profit can go out to a bank account or another method, but strictly in your name.
These are not obstacles — they are exactly the rules that make the difference between a financial institution and a scam.
Note for Moldova — read before you deposit
Some banks in the country may delay or even reject transfers to brokerage companies. The reason is not you: the stock market field is only now coming under local regulation (Law 177/2025), and the banks, faced with the wave of frauds in which criminals pose as “brokers” or “investment firms”, still do not have clear procedures for telling a regulated brokerage company apart from a scam. In developed countries, stock market investing is integrated directly into online banking; here, the banks are only just learning that a regulated brokerage company is, like them, a supervised financial institution. The good news: if you understand what you are doing and can explain to the bank where the money is going — your own trading account, with a regulated company, verifiable in public registers — the situation is usually cleared up quickly. You have the same support for withdrawals: if the bank asks about the origin of the money, trading and stock market investing are legal activities, and our partner companies issue official activity reports (account statements) precisely for this kind of transparency.
Your bank may charge its own conversion or currency transfer fee — check its tariffs before your first deposit, and if you want, we will work out the cheapest route together, free of charge.
Chapter 09
Customer support
| Phone | +420 226 201 599 |
|---|---|
| salesCEE@saxobank.com | |
| Channels | Telefon · E-mail · Centru de asistență online |
| Hours | Suport digital și tehnic în zilele în care piețele sunt deschise; suport prioritar de la nivelul intermediar de cont în sus |
| Languages | engleză, daneză, franceză, germană, italiană, olandeză, cehă, poloneză, norvegiană, japoneză, chineză, arabă — no Romanian, but that is exactly what you have us for |
| Trading.md support | In Romanian and Russian, at the office in Chișinău, str. Pușkin 26, or online, free of charge for clients who opened their account through the links on the Trading.md pages · 078 080 840 |
The complaints procedure
A complaint is filed first with the bank's complaints department, which investigates and responds. If the answer does not satisfy you, you can turn to the authority supervising the licence your account was opened under and to the complaints resolution body in that licence's jurisdiction. The exact details are communicated to you by the bank in its response to the complaint.
Before all that, tell us what happened. Most of the time the trouble comes from some services and procedures not being known well enough, and things get cleared up in a conversation. If there really is a problem, we help you formulate the complaint and send it where it needs to go.
Chapter 10
How to open the account, step by step
Six steps, in their natural order — and if you get stuck somewhere, ask us for help, it is free.
Open the registration form
Through the button on this page, so that the registration is linked to us and you receive the support and the conditions of Trading.md clients.
Fill in your personal details
Name, country, e-mail, phone — exactly as they appear in your identity document. One different letter delays the verification.
Answer the experience questionnaire
Questions about income, savings and your experience with leveraged instruments. Answer honestly: the questionnaire establishes what can be offered to you.
Upload the documents
The identity document and the proof of address, in the Client Cabinet. Clear photographs, the corners visible, the document within its validity period.
Create the trading account
You choose the platform, the account type, the currency and the leverage. You can change them later by opening a new account — you are not locked into your first choice.
Fund the account and get started
You deposit through one of the accepted methods, in your name. Our recommendation: start on a demo, in parallel, until you understand the platform.
Account verification
In principle, all brokers ask for the same thing: that you prove who you are and where you live. The details differ — which documents they accept, from which institutions, in what format and how long it takes.
Which documents and how many
Two, as a rule: one that confirms your identity and one that confirms your address. They must be within their validity period and legible in full.
Who issues the accepted document
Not every piece of paper with your address on it is accepted. The accepted issuing institutions differ from one company to another, and for Moldova not all the variants work the same way.
Selfie, video or just an upload
At some companies it is enough to upload the files. At others a photograph with the document in your hand or a short video verification is needed.
How long it takes and what a refusal means
From a few minutes to a few weeks, depending on how clear the documents are. A refusal does not close the door: it usually means that additional or clearer documents are required.
You don't have to remember all of this. We go through verification together, free of charge, including if you have already been refused once elsewhere. We don't promise the account will open — the final decision stays with the bank — but most of the time it works out.
Documents and account types
| Identity document | Identity card or passport, valid, with all the corners visible in the photograph. |
|---|---|
| Proof of address | A recent document that contains your name and your address. |
| Additional checks for large amounts | The company may ask for documents about the origin of the funds — it is an anti-money-laundering requirement, not a suspicion directed at you. |
| Multiple accounts | You can have several trading accounts under the same client profile, with different platforms and currencies. |
| Company account | Corporate account available; approval takes about a week. Joint account available, with documents for each holder. For large amounts, proof of the origin of funds is required. |
Chapter 11
Frequently asked questions
Chapter 12
Conclusion: who it suits
It suits
For the investor who wants a single account for a diversified portfolio of real assets, with access to exchanges worldwide, and who puts institutional safety ahead of minimal cost. For the one who trades occasionally alongside the portfolio and doesn't want two accounts at two companies. For the Moldovan with European citizenship or residence in a European Union country who wants an institution with a public balance sheet, a rating and strict supervision, not an offshore brokerage company.
To weigh up
It serves a limited number of countries and requires residence in one of them — residence in the Republic of Moldova is not enough. The custody fee plus value-added tax makes the entry-level account expensive for small portfolios held for a long time. Interest on cash is paid only at the highest tier. It has no copy trading and offers no cryptocurrencies with real ownership. It has no support in Romanian or Russian — that's why you have us. Real-time stock data requires a separate subscription.
Other partners in the same directions
FxPro
A regulated brokerage company founded in 2006, headquartered in London. Offers trading exclusively through contracts for difference (CFDs), with five platforms under a single client agreement.
AvaTrade
A brokerage founded in 2006, headquartered in Dublin, Ireland. It works with a fixed spread and a single trading account type on the contracts-for-difference side, and from the same profile you can also open accounts for FX options and for real futures contracts.
Tickmill
A brokerage company founded in 2014, with its operational headquarters in London and authorised entities in four jurisdictions. It offers a single direction: CFD trading — contracts for difference on the currency market, indices, commodities, bonds, cryptocurrencies, stocks and ETFs.
SaxoBank
Disclaimer
CFDs and options are complex instruments, with leverage, and involve a high risk of losing money rapidly. Before you trade, make sure you understand how they work and that you can afford the risk of losing the amount invested. Past performance, of an instrument or of a copied trader, does not guarantee future results. This page is for informational purposes and does not constitute personalised investment advice or a recommendation to buy or sell a financial instrument. Royal Consulting S.R.L., which operates the Trading.md platform, is a consulting, financial education and intermediation company. It is not a brokerage company, it does not execute orders, it does not hold client funds and it is not an investment adviser. The data on this page was verified on 2026-08-25 from the company's official documents and pages. The conditions may change without prior notice; the official version is always the one published by SaxoBank.