Compare the Best Saxo Online Investment Brokerages in Singapore 2020

Choose from MoneySmart's curated list of best brokerages in Singapore and Learn how to maximise returns. Read More
Filters

Refine Your Results

Investment Platform
Online Brokerage Features
Reset Filter
Providers
We found 2 Saxo Online Brokerages for you!
Recommended
Saxo logo

Min. Funding

S$3,000

Best Overall Trading Platform

Saxo Markets

Min. Commission Fee US Stocks
US$4
Min. Commission Fee SG Stocks
S$10
Min. Funding
S$3,000
Apply Now
More Details
Saxo logo

Min. Funding

S$2,000

Invest from S$100 monthly

Saxo Regular Savings Plan

Service Fee
0.75% p.a.
Expected ETF Costs
0.23%
Min. Funding
S$2,000
Apply Now
More Details

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Saxo Markets Singapore: An Overview

Whether you are a beginner or an expert in trading and investing, we are always looking out for the best online brokerage in Singapore for you. Saxo Markets is an online trading platform which covers a wide range of product portfolios such as stocks, ETFs (exchange traded funds), bonds, commodities, options, futures, funds, forex, and CFDs (contract for differences). Saxo Markets Singapore gains you access to 37 international and overseas markets, and allows you trade across 19,000 single name stocks. Saxo Markets is great for investors who are looking to trade regularly at relatively lower commission fees across a diverse investment portfolio. Along with its competitive rates, Saxo Markets Singapore also offers investors 3 user-friendly softwares, SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO to choose from, comprehensive research and analysis tools, and 24/5 customer service support.

Brokerage Fee and Charges

Commission Fee

At Saxo Markets, commission fees vary according to the trade product, trade exchange, trade volume, and your Saxo account tier status. Saxo is known for their relatively lower stock commission fees at 0.08% (minimum of S$10) for SGX and 0.06% (minimum of US$4, maximum of US$100) for US stocks. When it comes to FX, EUR/ USD spreads start at 0.6 pips if you’re a Classic account holder and lowers to 0.5 pips and 0.4 pips for Platinum and VIP account holders respectively. CFD commissions start from US$3 for US stock CFDs, ETFs commissions start from US$3 on US-listed ETFs, bonds commissions start from 0.05% on US government bonds, and there are $0 commission, custody, and platform fees for mutual funds. View the full spreads and commissions list at Saxo online.

Spreads

If you’re new to trading, spread is simply the difference in the offer and ask price that a trader is willing to pay. So it represents the cost for traders and the profit for sellers. To check Saxo’s past and present spreads, you’ll find a detailed breakdown on their website, where you’ll also find a table comparing their minimum spreads with those of other Singapore-based brokers.

Rollover Rate

You’ll be surprised that rollover rates are typically overlooked by traders. This rate is the interest that’s either charged or credited to your account each time you keep your position open overnight. By doing so, you’ll either earn profits or incur losses, which can be significant or negligible, depending on how long you hold your position open.

Saxo Markets’ Platforms

There are 3 Saxo online trading platforms you can choose from, depending on your investment needs: a simple and fast SaxoInvestor, a comprehensive SaxoTraderGO which is favoured internationally, and the professional SaxoTraderPRO. You can use all 3 platforms on your desktop, mobile, or tablet. So, which one is best for you?

SaxoTraderGO

SaxoTraderGO is Saxo’s most popular online trading platform and is suitable for small and medium volume traders across all experience levels. The award-winning platform provides trading tools such as trade tickets, equity research showing company fundamentals and analyst sentiments, news feeds, trade signals, live charts, and charting all in an easy-to-navigate interface. If you prefer to view things at a glance, you will be able to manage your account and analyse portfolios’ performance with functions such as Portfolio Summary, Performance Analysis and Returns Breakdown.

SaxoTraderPRO

SaxoTraderPRO is an advanced platform, with functions designed for active and high-volume professional or institutional traders. Benefits of the SaxoTraderPRO include trading tools such as advanced trade tickets, market depth trader using level 2 market data you are subscribed to, time and sales data, algo-trading for major US, European, and Asian markets, and charting across 6 screens simultaneously.

SaxoInvestor

SaxoInvestor was designed for the regular retail investor, basically regular folks like you and I. First, there is no minimum funding amount. Second, you can access cash products like stocks, mutual funds, ETFs, bonds, and Saxo’s regular savings plan. Finally, you will be able to access investment themes, such as electric vehicles, robotics, and more, to help you identify potential investments in your preferred sectors. In each theme, you will find a curated list of relevant stocks, mutual funds, and ETFs.

SaxoTraderGO

SaxoTraderGO is Saxo’s most popular online trading platform and is suitable for small and medium volume traders across all experience levels. The award-winning platform provides trading tools such as trade tickets, equity research showing company fundamentals and analyst sentiments, news feeds, trade signals, live charts, and charting all in an easy-to-navigate interface. If you prefer to view things at a glance, you will be able to manage your account and analyse portfolios’ performance with functions such as Portfolio Summary, Performance Analysis and Returns Breakdown.

How do I open a Saxo account in Singapore?

It’s easy to open a Saxo trading account in Singapore: apply online via SingPass and submit all necessary documents, fund your account, and trade. The entire process should take an average of 2 working days for a private account.

Step 1Apply online

Scroll up to apply for your Saxo account online or via the Saxo Singapore website using SingPass MyInfo. The account verification process may take up to 2 working days. Once approved, you will receive an email from Saxo with your SaxoID, login credentials, and payment information to fund your account. To check on your Saxo application status, call the customer service hotline at +65 6303 7800.

Step 2Fund

Once you have received your verification email, you need to fund your account to start trading. You can fund your account via PayNow or FAST instantly and free of charge. Do ensure your payment details are aligned with the payment information provided in the verification email. The Saxo Regular Savings Plan requires S$2,000 minimum funding, both SaxoTraderGO and SaxoTraderPRO require S$3,000 minimum, while the SaxoInvestor does not require minimum funding.

Step 3Trade

Launch the Saxo trading platform you are using, create a new watchlist for trade instruments you are interested in. Check the price movements of your selected product via the “Charts” function, and view the trade ticket to set up your order. Whether you’re trading FX, CFD, or EQ, there are comprehensive video tutorials and step by step guides on the Saxo website.

Try MoneySmart's newSavings Account Comparison Tool

Compare Savings Accounts and maximise your earnings with best interest rates by finding the right bank.

Compare Savings Accounts

Commonly Asked Questions

How do you use Saxo Markets?

To use Saxo Markets’ online trading platforms, you need to first apply for an account online, and fund your account before you can start trading. Once you have set up your account, take some time to browse the Saxo tutorials and video guides to learn how to use Saxo’s trading platforms.

How do I draw money from Saxo?

To withdraw funds from your Saxo TraderGO account, launch your SaxoTraderGO platform, go to “Account”, followed by “Deposit and Transfer”, and “Withdraw funds”. If you are using SaxoTraderPRO, launch the platform, go to “Menu”, “Deposit and Transfer”, followed by “Withdraw funds”. Note that exit fees of €50 per ISIN (maximum of €160 per transfer request) apply for transfers of securities to your brokerage account outside Saxo Markets.

Does Saxo have inactivity fee?

Saxo charges an inactivity fee of up to US$150 for accounts that have been inactive for 6 consecutive months. Any of these trading activities listed below can avoid an inactivity fee: trade, stock or bonds transfer, futures expiry, exercise of FX option, stock options expiry, corporate actions, bonds maturity, or barrier event.

How long does it take to open a Saxo account?

It takes 2 working days for your Saxo account application to be processed if all necessary documents have been submitted. Once your application has been approved, fund your account, and browse the Saxo tutorials and video guides to learn how to use Saxo’s trading platforms.

What is Saxo Markets hotline?

The Saxo Markets hotline is +65 6303 7888 if you are in Singapore. Alternatively, you can reach the Saxo customer service support via the in-app chat function in your SaxoTraderGO or SaxoTraderPRO trading platforms. If you are using the SaxoInvestor trading platform, click on the “Settings” icon, followed by “Contact Support” to submit a support request. If you are not an existing Saxo client, you can email Saxo’s customer service support via the Saxo website as well.