Saxo Bank review 2026: fees, platform and security tested

Saxo Bank Switzerland: who is behind the broker?

In Switzerland, Saxo is Saxo Bank (Switzerland) Ltd, headquartered in The Circle at Zurich Airport. It has been active in Switzerland since 2008, employs around 40 people and holds its own Swiss banking licence. This places it under FINMA supervision and the Swiss Banking Act. For investors in Switzerland, that is a key point when it comes to the safety of their assets.

Today the Saxo Group serves around 1.7 million clients with assets of over EUR 150 billion. Saxo Bank is owned by the Basel private bank J. Safra Sarasin. The online broker therefore has a Swiss owner.

How much does Saxo Bank cost? Fees in detail

As of October 2026, Saxo Bank (Switzerland) Ltd charges no custody fee and no account fee. Costs arise when trading (trading fee from 0.08 %, min. CHF 3 on SIX), when exchanging currency (max. 0.25 %) and through the federal stamp duty.

From an initial deposit of CHF 250'000 (Platinum), the trading fee drops to 0.05 %, from CHF 1 million (VIP) to 0.03 %. The minimum amounts per exchange stay the same.

Trading fees for shares and ETFs

Saxo charges 0.08 % of the order volume, but at least CHF 3 on SIX, EUR 3 on European exchanges and USD 1 on US exchanges. The minimum applies up to an order volume of CHF 3'750 on SIX, EUR 3'750 on Xetra and USD 1'250 on the NYSE or Nasdaq. Above that, you pay exactly 0.08 %.

A few examples:

• A share purchase of CHF 1'000 on SIX costs CHF 3 (effectively 0.30 %), a purchase of CHF 10'000 costs CHF 8.
• A share purchase of EUR 5'000 on Xetra (DE) costs EUR 4.
• A share purchase of USD 5'000 on the NYSE or Nasdaq (US) costs USD 4.

Saxo Bank vs. Swissquote: which is cheaper?

As of October 2026, Saxo is cheaper than Swissquote for most investors: no custody fee and much lower trading fees. A US share worth USD 5'000 costs USD 4 at Saxo and CHF 29 at Swissquote. Swissquote scores with share register entry, direct crypto trading and a pillar 3a. [check figures]

Saxo AutoInvest: ETF savings plan without trading fees

With AutoInvest, Saxo automatically buys ETFs on the 5th of every month from a selection of over 100 products from iShares and Amundi. The purchases incur no trading fee and there is no minimum amount. Only whole units are bought.

An ETF savings plan automatically invests a fixed amount in one or more ETFs at regular intervals. Instead of trying to time the market, you invest with discipline and build your wealth step by step. This is particularly suitable for building wealth over the long term if you don’t want to keep looking after your investments. Our ETF savings plan comparison shows which providers in Switzerland have the cheapest ETF savings plans.

What you need to know about Saxo AutoInvest

• CHF only, executed on the 5th of the month
• Whole units only: the remainder stays as cash
• Max. 10 securities per sub-account, max. 10 sub-accounts
• No transfers of securities into or out of the AutoInvest sub-account
• Sales and currency exchange cost the normal fees
• If the balance is insufficient, that month is skipped

AutoInvest in detail: savings plan features

AutoInvest is deliberately simple: you choose up to ten ETFs per savings plan, set the amount and allocation, and Saxo invests automatically every month. There are 102 ETFs to choose from, most of them equity ETFs from iShares. Purchases are made once a month, in whole units only and in Swiss francs only. The key features at a glance:

The most popular ETFs on Saxo AutoInvest

Saxo clients most often choose broadly diversified equity ETFs: the iShares Core MSCI World (SWDA, TER 0.20 %) for a global portfolio, the Amundi Core S&P 500 (LYSPS, TER 0.05 %) for US shares and the Amundi Stoxx Europe 600 ESG (C6E, TER 0.18 %) for Europe. For the Swiss market, the iShares Core SPI (CHSPI, TER 0.10 %) and the iShares Swiss Dividend (CHDVD, TER 0.15 %) are popular. As of October 2026.

Example: CHF 200 a month into an MSCI World ETF

If you invest CHF 200 a month in the iShares Core MSCI World (SWDA), you buy exactly one unit at a price of around CHF 126. The remaining CHF 73.87 stays as cash in the AutoInvest account because Saxo only buys whole units. There is no trading fee; the summary shows «Commissions 0 CHF». On top come the stamp duty of 0.15 % (around CHF 0.19) and the cost of exchanging CHF into USD (max. 0.25 %, around CHF 0.32), because SWDA trades in USD on SIX.

What can you trade at Saxo Bank?

At Saxo you have access to over 23'000 shares on more than 50 exchanges and over 5'200 ETFs. On top come bonds, funds, options, futures and forex. Cryptocurrencies are only available indirectly via ETPs, and US-domiciled ETFs cannot be traded by private clients in Switzerland.

Saxo Bank app tested: SaxoInvestor and SaxoTrader

Saxo has two platforms with a shared login: SaxoInvestor for investors, with a simple interface, and SaxoTrader (web, app, desktop) for active traders. Both are free. The former SaxoTraderGO and SaxoTraderPRO have been merged into SaxoTrader.

SaxoInvestor: the app for investors

SaxoInvestor is the standard app for investors and runs on iPhone, Android and in the browser. In our test we found our way around quickly: the overview shows portfolio value, return and cash at a glance, and you can find securities by name, ISIN or ticker. An order takes just a few steps, and Saxo shows the fees before the purchase. AutoInvest is built right into the app. What we miss: AutoInvest only buys whole units and only executes purchases on the 5th of the month. Cryptocurrencies cannot be bought directly, only as ETPs (exchange-traded products).

SaxoTrader: for active traders

Since November 2025, SaxoTrader has replaced the former platforms SaxoTraderGO and SaxoTraderPRO and is aimed at active traders. The platform offers extensive charting with technical indicators and drawing tools. On top come advanced order types such as stop-limit, trailing stop and OCO orders, plus option chains with key figures. On desktop, workspaces can be spread across several screens. For most investors, however, SaxoTrader is too complex: if you invest in ETFs and shares for the long term, SaxoInvestor is the better choice. SaxoTrader is mainly worthwhile for experienced investors who trade frequently or work with options and futures.

Is Saxo Bank safe?

Yes. Saxo Bank (Switzerland) Ltd is a Swiss bank licensed by FINMA. Securities in your account are segregated assets and are kept separate in the event of bankruptcy. Cash is protected by esisuisse up to CHF 100'000 per client.

• Regulation: FINMA, Swiss Banking Act
• Securities: segregated assets (Art. 16/37d BankA)
• Cash: up to CHF 100'000 (esisuisse)
• Owner: Saxo Bank is wholly owned by the J. Safra Sarasin Group
• Login: two-factor authentication (Face ID)

Taxes with Saxo: e-tax statement, stamp duty and withholding tax

From tax year 2025, Saxo provides clients in Switzerland with a free e-tax statement that can be imported directly into your tax return. Previously it cost CHF 108.10.

• E-tax statement: free, as a PDF in the client area
• Stamp duty: 0.075 % (Swiss securities), 0.15 % (foreign securities)
• Withholding tax: 35 % on Swiss dividends and interest, reclaimable
• Share register: no entry possible; proxy voting for a fee

Customer support: availability and service quality tested

Saxo’s Swiss support is available Monday to Friday from 8:00 to 18:00 by phone (+41 58 317 95 00) and chat, in German, French, Italian and English. English support is available 24/5.

Who is Saxo Bank suitable for?

Saxo Bank is particularly suitable for cost-conscious ETF savers and anyone investing internationally in shares and ETFs. It is less suitable if you want to buy cryptocurrencies directly or have your Swiss shares entered in the share register.

Conclusion: our Saxo Bank review

Saxo Bank is a very low-cost Swiss online broker for anyone investing in shares and ETFs: no custody fee, trading fees from 0.08 % and an ETF savings plan without trading fees. Saxo Bank users also get the handy e-tax statement free of charge.

With access to over 23'000 shares and over 5'200 ETFs, Saxo suits both long-term ETF savers and investors with an international portfolio. Saxo is less suitable for anyone who wants to buy cryptocurrencies directly or have their shares entered in the share register.