Saxo Capital Markets review: Australian share trading account

Brokerage fees starting from $5 and access to more than 19,000 global stocks.

Finder's rating: 4.8/5

★★★★★

An online share trading account with Saxo Capital Markets offers fast and easy access to more than 19,000 global stocks on 40+ of the world’s major stock exchanges. Saxo Capital Markets allows you to access share market investment opportunities all around the world, ensuring you have a well-diversified portfolio made up of the companies with the best growth opportunities, no matter which exchange they’re listed on.

AUD $5

Standard brokerage fee

ASX, NASDAQ, NYSE, London Stock Exchange, AMEX, Euronext, Hong Kong Stock Exchange, And more

Available markets

Phone, Email, After hours, Live chat

Support

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Details

Type of broker Full service
ASX products Shares
Exchange traded options
Available markets ASX
NASDAQ
NYSE
London Stock Exchange
AMEX
Euronext
Hong Kong Stock Exchange
And more
Standard brokerage AUD $5
Support Phone
Email
After hours
Live chat

Quick verdict

Good for
  • Global access
  • Rewards for active traders
  • Educational resources and tools
Not so great for
  • Proprietary trading platform

Saxo Capital Markets background

Saxo Capital Markets is a subsidiary of Saxo Bank A/S and comes under the broad banner of the global giant, Saxo Group. As an ASIC regulated share trading broker, they've been a trusted local name with offices in Sydney since 2011.

Since their inception, Saxo Capital markets have been one of the premier share trading solutions for investors and traders alike. Its trading platform is known for its top quality trading tools and for having some of the lowest fees in Australia when it comes to global share trading. In 2019, it won Finder's Best International Share Trading Account award.

What are the key features of Saxo Capital Markets share trading?

Are you thinking of opening a share trading account with Saxo Capital Markets? If you are then the key features listed in this review will help you make a final decision as to whether they're the right broker for you.

Fees

★★★★★ 4/5

Trading tools

★★★★★ 3.3/5

Research and education

★★★★★ 5/5

Available securities

★★★★★ 4.5/5

Customer support

★★★★★ 4/5

To learn how our star ratings are calculated, read the methodology here.

Market data

Traders who choose Saxo can buy and sell shares based on live market data supplied by each individual stock exchange. If you want real-time market data, you will need to subscribe to data services offered by individual exchanges, something that can be easily done through their online trading platform. Within the platform, you'll find an online subscription tool with a list of the available exchanges and news services, alongside each set of fees you must pay in order to access them. It's all there in the one place.

Market research and analysis

Opening a Saxo Capital Markets account allows you to access the Stock Screener, which allows you to analyse fundamental data and explore stocks on 40+ global exchanges. You can also access news, trade views and analysis from Saxo's team of experts via their new and improved market analysis hub in the trading platform or on home.saxo.

Analysis tools within the trading platform include an equity research tool that provides access to future estimates, analyst data and technical analysis tools to help you keep track of stock movements on clear and customisable charts.

Choice of trading platforms

SaxoTraderGo is a user-friendly, web-based trading platform ideal for traders of all levels.

SaxoTraderPRO is a desktop application designed for professional traders, offering a fully customisable interface with advanced trading tools.

With two trading platforms available, traders preferring large desktop screens can access share markets via Saxo's downloadable software. On the other hand, those who trade on-the-go, on multiple mobile devices can choose the SaxoTraderGO web-browser and mobile app platform. Both platforms give the trader full access to all asset classes and a range of instruments, through your single share trading account.

Watchlist functionality

You can create customised watchlists in your Saxo Capital Markets share trading account to easily track the performance of stocks you are interested in.

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What markets can I access with a Saxo Capital Markets share trading account?

When you open an account with Saxo Capital Markets, you can access more than 19,000 global stocks on 40+ of the world's stock exchanges. You're able to buy CHESS-sponsored ASX shares, as well as a whole raft of international shares across both established and emerging markets.

Some of the exchanges where you can buy and sell shares in companies include the following:

  • ASX
  • London Stock Exchange
  • NASDAQ
  • New York Stock Exchange
  • Deutsche Borse (XETRA)
  • Milan Stock Exchange
  • Hong Kong Exchange
  • Singapore Exchange
  • Tokyo Stock Exchange

While this particular Saxo Capital Markets review focuses on share trading, you're actually opening a multi-asset account which also enables you to trade the following financial instruments:

  • Forex
  • CFDs
  • ETFs and ETCs
  • Futures
  • Bonds
  • Listed Options

If you're interested in trading forex currency pairs or share market CFDs short term, then click the link and take a look at our Saxo Capital Markets forex and CFD focused review page.

What account types are available for Saxo Capital Markets share trading?

There are a number of account types and account levels available to traders opening a share trading account with Saxo Capital Markets. Depending on your personal circumstances, you're able to open one of the following account types:

  • Individual Account
  • Corporate Account
  • Joint Account
  • Trust/SMSF - Individual as Trustee Account
  • Trust/SMSF -Corporate as Trustee Account
  • Sole Trader Account

Within the above account types, there are also three account levels available:

  • Classic. For retail share traders and investors. The minimum deposit is $3,000.
  • Premium. For active share traders and investors. The minimum deposit is $300,000 and the account features a personal relationship manager.
  • Platinum. For high volume share traders and investors. The minimum deposit is $1,500,000 and the account features VIP pricing, a personal relationship manager and a dedicated sales trader always just a call away.

What types of customer support is available from Saxo Capital Markets?

Saxo Capital Markets provides a wealth of information online to help you get more out of your share trading account. The dedicated support centre features a long list of frequently asked questions and answers, while customers can also access trading articles and guides, video tutorials and a range of events and seminars. In addition, you have the option of visiting The academy, a separate website full of videos, courses, quizzes and guides to help further your trading knowledge.

If you ever need help with your account or a specific transaction, Australian phone and email customer support is available Monday to Friday through Saxo's Sydney office. After-hours calls will be diverted to a Saxo Bank Group office.

What fees are charged when using Saxo Capital Markets?

There is no fee to open a share trading account with Saxo Capital Markets however you'll need to pay brokerage fees on each trade you place. These commission amounts vary based on the exchange you are using and on whether you are a Standard or Active trader (an Active trader is someone who places more than 100 trades per month).

The table below outlines some of the minimum commissions that may apply.

ExchangeClassicPlatinumVIP
London Stock Exchange0.10% (minimum 8 GBP)0.07% (minimum 7 GBP)0.05% (minimum 5 GBP)
NASDAQ and New York Stock Exchange0.06% (minimum 4 USD)0.05% (minimum 4 USD)0.04% (minimum 3 USD)
Deutsche Borse0.10% (minimum 10 EUR)0.07% (minimum 8 EUR)0.05% (minimum 6 EUR)
ASX0.08% (minimum 5 AUD)0.06% (minimum 5 AUD)0.05% (minimum 5 AUD)
Hong Kong Exchange0.15% (minimum 100 HKD)0.12% (minimum 80 HKD)0.10% (minimum 60 HKD)
Singapore Exchange0.15% (minimum 25 SGD)0.12% (minimum 20 SGD)0.10% (minimum 15 SGD)
Tokyo Exchange0.15% (minimum 1,500 JPY)0.12% (minimum 1,000 JPY)0.10% (minimum 1,000 JPY)

How do I pay for shares on a Saxo Capital Markets share trading account?

Saxo Capital Markets offers a number of ways to fund your share trading account:

  • Credit/Debit card
  • Cheque
  • Electronic funds transfer

Be aware that due to anti-money laundering regulations, third party funding is not accepted by Saxo Capital Markets. Any failed transfers or funds transferred to accounts that are not yet fully verified, will see funds returned minus incurred bank fees (if any).

What are the pros and cons of using Saxo Capital Markets?

Pros

  • Global access. Saxo Capital Markets provides access to 19,000 stocks on 40+ global stock exchanges, allowing you to take advantage of investment opportunities all around the world.
  • Rewards for active traders. Traders that place more than 100 trades per month receive lower commissions than Standard traders.
  • Educational resources and trading tools. From the Saxo Academy and online Support Centre to its extensive range of stock analysis tools, Saxo Capital Markets offers plenty of options for you to improve your trading knowledge and decisions.
  • Low-risk account available. With Saxo Essential, your losses can't exceed the funds available in your account.

Cons

  • Platform may be quite complicated for new investors.

How do I apply for a Saxo Capital Markets Share Trading account?

If you'd like to open a share trading account with Saxo Capital Markets and start trading, click one of the 'go to site' buttons on this page to be redirected to the Saxo Capital Markets website. There you will be able to begin an online application.

You can apply online or request a paper-based application form. During the application process you will need to provide some of the information included below, but not limited to:

  • Your full name
  • Email address and phone number
  • Date of birth
  • Proof of ID
  • Details about your net worth
  • Your choice of primary account currency
  • Your nominated bank account details

Saxo Capital Markets share trading frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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18 Comments

    Default Gravatar
    David
    April 24, 2019

    I am trying to transfer fund to my bank account but for some reason, it does not accept Adelaide Bank. It puts a query on it with an orange high light. Is it possible to manually do the transfer?

      Default Gravatar
      Nikki
      April 25, 2019

      Hi David,

      Thanks for getting in touch with Finder! I hear you’re trying to transfer funds to your bank account. I suggest to contact your bank directly and see what’s causing the problem and see if you can do a manual transfer as an option. While we review pages about share trading accounts, we aren’t able to process this transaction for you. Hope this clarifies!

      Best,
      Nikki

    Avatarfinder Customer Care
    Joshua
    April 17, 2019

    Hi Gary,

    Thanks for getting in touch with Finder. I hope all is well with you. 😃

    Saxo pre-select the stocks offered on their platform based on liquidity and demand. They tend not to offer equities with a share price of less than $1 or from small-cap companies, as these have low liquidity and typically lower demand. However, investors can contact Saxo if they’re interested in a particular stock that’s not offered through their platform, and Saxo may be able to facilitate the purchase.

    I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

    Have a wonderful day!

    Cheers,
    Joshua

    Default Gravatar
    Roy
    February 28, 2019

    Can I able to use the feature “stop loss” on the trades for the Classic account?

      Avatarfinder Customer Care
      Jeni
      March 2, 2019

      Hi Roy,

      Thank you for getting in touch with Finder.

      Since their page mentioned that they have innovative risk-management tools, classic account may be able to use the said feature. I suggest that you contact their support centre to get further info on this matter.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    rubel
    December 29, 2018

    Hi there,

    Is there any holding fee for share purchase in ASX? Can you explain what is the holding fee?

    Thanks

      Avatarfinder Customer Care
      Jeni
      December 30, 2018

      Hi Rubel,

      Thank you for getting in touch with finder.

      As per ASX page, all shares listed on ASX can only be bought or sold through a broker. A stockbroker acts as your agent to buy or sell shares on your behalf, for which a fee is charged.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    Paul
    December 20, 2018

    Hi,

    The Saxo Capital site does not have the Essential account, is it still available?

      Default Gravatar
      Nikki
      December 20, 2018

      Hi Paul,

      Thanks for getting in touch! Upon checking our page and the Saxo website, the Essential account is still active. You may check their website again or reach out to them to confirm.

      Hope this clarifies!

      Best,
      Nikki

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