Saxo Capital Markets review: Australian share trading account
Get brokerage fees starting from $5 and access to more than 22,000 global stocks.
Finder's rating: 4.8/5
Saxo Capital Markets is 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 can buy local shares from just $5 and international shares from US$4. Taking immense pride in its award-winning trading platform, clients of Saxo can also access a number of other asset classes, including ETFs, stock options and even bonds.
Standard brokerage fee
ASX, NASDAQ, NYSE, LSE, Euronext
Phone, Email, After hours, Live chat
|Type of broker||
Exchange traded options
Saxo Capital Markets is built for serious traders, giving investors access to more than 22,000 shares in over 50 countries and exchanges. While giving investors all the diversification they could want, the broker also facilitates CFD and forex trading for those who want to dabble in those markets.
Its strength lies in its educational resources and trading tools, but for slightly more advanced traders. 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. Unfortunately, it does have a glossary of terms or features that beginners would need.
Saxo may also not appeal to newer or younger investors as its fee structure isn't the cheapest going around. Its platform is relatively complex. It also rewards active traders which may not appeal to traditional, long-term buy-and-hold investors.
- Global access
- Rewards for active traders
- Educational resources and tools
Not so great for
- Proprietary trading platform
- Platform is complex for beginners
- Confusing fee structure
Saxo Capital Markets background
Saxo Capital Markets is a subsidiary of Denmark's Saxo Bank A/S and comes under the broad banner of the global giant, Saxo Group.
It has over 25 years of experience and is fully licensed and regulated in 15 jurisdictions, including by the Australian Securities and Investment Commission (ASIC). It is a trusted international name for share trading.
Since its inception, Saxo Capital Markets has 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 for global share trading. It won Finder's Best International Share Trading Account award in 2019.
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 it's the right broker for you.
|Research and education||
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, which can be easily done through its online trading platform. Within the platform, you'll find an online subscription tool with a list of the available exchanges and news services alongside a set of fees you must pay to access them.
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 more than 50 global exchanges.
You can also access news, trade views and analysis from Saxo's team of experts via its new and improved market analysis hub on 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. These 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 2 trading platforms available, traders preferring large desktop screens can access share markets via Saxo's downloadable software. Those who trade on the go and 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 a single share trading account.
You can create customised watchlists in your Saxo Capital Markets share trading account to easily track the performance of stocks you are interested in.
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 22,000 global stocks on more than 50 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:
- London Stock Exchange
- 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 that also enables you to trade the following financial instruments:
- ETFs and ETCs
- 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 review.
What account types are available for Saxo Capital Markets share trading?
There are a number of account types and levels available to traders opening a share trading account with Saxo Capital Markets. Depending on your personal circumstances, you can 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 3 account levels available:
- Classic. This is for retail share traders and investors. The minimum deposit is $3,000.
- Premium. This is for active share traders and investors. The minimum deposit is $300,000 and the account features a personal relationship manager.
- Platinum. This is 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.
Is Saxo Bank trustworthy?
Saxo Bank should be considered trustworthy given its long history in the market and the fact that it is regulated in multiple countries.
Given the size and scale of the broker, it operates in 6 tier-1 regulators, including the ASIC. It adds to its compliance, meaning it could be more trustworthy for investors.
What types of customer support are 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. 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 from 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.
|London Stock Exchange||0.10% (minimum 8 GBP)||0.07% (minimum 7 GBP)||0.05% (minimum 5 GBP)|
|NASDAQ and New York Stock Exchange||0.06% (minimum 4 USD)||0.05% (minimum 4 USD)||0.04% (minimum 3 USD)|
|Deutsche Borse||0.10% (minimum 10 EUR)||0.07% (minimum 8 EUR)||0.05% (minimum 6 EUR)|
|ASX||0.08% (minimum 5 AUD)||0.06% (minimum 5 AUD)||0.05% (minimum 5 AUD)|
|Hong Kong Exchange||0.15% (minimum 100 HKD)||0.12% (minimum 80 HKD)||0.10% (minimum 60 HKD)|
|Singapore Exchange||0.15% (minimum 25 SGD)||0.12% (minimum 20 SGD)||0.10% (minimum 15 SGD)|
|Tokyo Exchange||0.15% (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
- 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).
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 guide to be redirected to the Saxo Capital Markets website. There you can begin an online application.
You can apply online or request a paper-based application form. During the application process, you will need to provide the following information:
- 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