Saxo Capital Markets review: Australian share trading account

Saxo Capital Markets (Classic account)
Saxo Capital Markets (Classic account)
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With competitive brokerage fees and access to more than 19,000 global stocks, Saxo Capital Markets can help you build a well-diversified share trading portfolio.

An online share trading account with Saxo Capital Markets offers fast and easy access to more than 19,000 global stocks on 36 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.

Saxo Capital Markets are the ASIC-licensed subsidiary of Danish Saxo Bank Group, a global heavyweight in the online trading and investment industry. With a Saxo share trading account, you’re able to buy local shares from just $6.99 and international shares from USD $9.90. Taking immense pride in their award winning trading platform, clients of Saxo can also access a wide number of other asset classes including ETFs, stock options and even bonds.

Product Name Saxo Capital Markets (Classic account)
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
Shanghai Stock Exchange
Tokyo Stock Exchange
Standard brokerage fee for ASX shares $6.99 or 0.1%
Support Phone
Email
After hours

Quick verdict

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

Who is Saxo Capital Markets?

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 both investors and traders alike. Known for their excellent levels of customer service, they consistently score in the top percentile when it comes to customer satisfaction awards.

When it comes to the actual share trading experience, the Saxo trading platform consistently earn the industry's highest accolades. Known for its usability and trading tools, you're able to analyse and trade the markets your way.

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.

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 36 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, 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 36 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

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 $50,000 and the account features a personal relationship manager.
  • Platinum. For high volume share traders and investors. The minimum deposit is $1,000,000 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 will 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.

ExchangeStandard traderActive trader
London Stock Exchange0.10% (minimum 8 GBP)0.07% (minimum 7 GBP)
NASDAQ and New York Stock Exchange0.01 USD per share (minimum 9.90 USD)0.01 USD per share (minimum 7 USD)
Deutsche Borse0.10% (minimum 10 EUR)0.07% (minimum 8 EUR)
ASX0.10% (minimum 6.99 AUD)0.07% (minimum 6.99 AUD)
Hong Kong Exchange0.15% (minimum 100 HKD)0.12% (minimum 80 HKD)
Singapore Exchange0.15% (minimum 25 SGD)0.12% (minimum 20 SGD)
Tokyo Exchange0.15% (minimum 1,500 JPY)0.12% (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 36 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, you losses can't exceed the funds available in your account.

Cons

  • No MetaTrader 4. Saxo Capital Markets does not support MetaTrader, the world's most popular trading platform.

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
  • Your email address and phone number
  • Your 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

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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9 Responses

  1. Default Gravatar
    AdrianOctober 26, 2018

    are there fees involved with having an account active and not trading with saxo capital markets ?

    • finder Customer Care
      JohnOctober 26, 2018Staff

      Hi Adrian,

      Thank you for leaving a question

      Saxo Capital Markets Share Trading Account currently has a fee called the Custody fees for Stocks, ETFs/ETCs and bonds. Saxo Capital Markets has implemented a fee structure for the purpose of ensuring a cost structure that reflects the client’s actual usage of the trading platforms.
      For accounts with Stocks*, ETFs/ETCs or Bond positions, an annual custody fee of 0.12% will apply. The custody fee will be calculated daily using the end of day values and charged on a monthly basis. Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    johnnyJuly 6, 2018

    can I buy AND later sell SMHD ?

    • finder Customer Care
      MayJuly 12, 2018Staff

      Hi Jonny,

      Thanks for getting in touch with finder.

      I’d like to help you further with your inquiry. If you could please tell us what you meant by “SMHD”, that would be great.

      Cheers,
      May

  3. Default Gravatar
    MurrayApril 18, 2018

    A few questions re Saxo:

    1) Min. deposit to start trading = $1000 what about subsequent deposits. What is the minimum?

    You advertise your commission as $9.90 but my total fees on purchase was $21.80. Commission at 9.90 x2 = 19.80 + .99 + .01 X2 = $21.80.

    2) Do these fees cover buying and selling?

    3) When I wish to withdraw, do my funds go back to the credit card that funded the account?

    I look forward to hearing from you soon.

    Regards,

    • finder Customer Care
      MayApril 19, 2018Staff

      Hi Murray,

      Thanks for your inquiry. Please note that finder is a comparison website and general information service and does not represent Saxo, so we can only offer general advice.

      1) Min. deposit to start trading = $1000 what about subsequent deposits. What is the minimum?
      There’s no minimum deposit for your subsequent funding after the initial $1,000 deposit.

      2) Do these fees cover buying and selling?
      Yes, the commission + fees cover the buying and selling.

      3) When I wish to withdraw, do my funds go back to the credit card that funded the account?
      With Saxo, you can only withdraw funds from your trading account to a bank account held under your name.

      Cheers,
      May

  4. Default Gravatar
    MrJanuary 24, 2018

    I assume Saxo is authorised and regulated by the Australian Securities and Investment Commission? Is all client money held in a segregated bank account?
    Thankss

  5. Default Gravatar
    MrJanuary 24, 2018

    Where are the shares I buy held? For Australian shares is Saxo a CHESS provider?
    And then what about International shares?
    Thanks

    • finder Customer Care
      JoanneJanuary 27, 2018Staff

      Hi Mr. X,

      Thanks for your questions.

      Saxo Capital Market is not a market participant themselves and they do not trade directly on exchanges on your behalf hence, they don’t hold your shares. When you trade using their platform, they act as your agent and arrange market participants to enter into trades as per your trading orders. Your shares will be managed either through CHESS or the issuer’s share registry.
      While we can confirm that Saxo is fully licensed and regulated by ASIC, I’m afraid you’d have to contact them directly for information related to their business operations. I have sent to your email their contact details as well as the link to their company profile for ease of reference.

      Cheers,
      Joanne

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