Saxo Bank 2026: Up to €500 in Free Trading Fees

Opening a Saxo Bank account is fully online, with no branch appointment. Allow about 20-30 minutes, including the mandatory investor-profile questionnaire (a European regulatory requirement). Saxo Bank offers several account types: tax-advantaged local wrappers where available (such as a French PEA), and a standard securities account (taxable) with no cap or geographic restriction and access to all global markets. Identity verification is online (ID + selfie). The account is operational once validated, usually within 24-48 business hours.

The Saxo Bank referral offer gives both the new client and the referrer up to €500 in free brokerage fees, valid for 90 calendar days — effectively commission-free orders (up to €500) for the first three months. It applies to a first securities account funded within 30 days, and covers stocks, ETFs, options, futures and bonds (excluding currencies).

On top of that, Saxo offers 150+ Amundi ETFs with €0 purchase brokerage (on both a PEA and a taxable account, no minimum) until 31 December 2026. These stack with already-low fees: 0.08% per order (min €2 on Euronext). Check the exact terms at sign-up, as campaigns change regularly.

Saxo fees are tiered: 0.08% (Classic), 0.05% (Platinum, from €200,000) and 0.03% (VIP, from €850,000). They are competitive on mid-to-large orders but less attractive on small ones (below ~€2,500 on Euronext, the €2 minimum exceeds 0.08%). For very small orders, Trade Republic (€1 per order) is simpler.

Where available, Saxo Bank offers tax-advantaged local wrappers — for example, the French PEA, regularly rated among the best in France for fees and instrument range. Brokerage of 0.08% per order (min 2€) on Euronext is among the most competitive for a wrapper with broad ETF access. The accessible ETF selection is wide: world equity ETFs, bond ETFs, sector ETFs, emerging-market ETFs — well beyond what most banks offer, with no-fee Amundi ETFs to invest in global indices at near-zero cost. For managed ETF portfolios without picking instruments yourself, alternatives like Ramify or Trade Republic offer more automated solutions.

In online brokerage, opening perks go by several names: "Saxo Bank promo code", "referral offer", "welcome offer", or "free trades". All describe the same kind of commercial benefit at sign-up. Saxo Bank mainly uses offers tied to sign-up via a partner link or temporary campaigns (free trades, reduced fees) — there is not always an alphanumeric code to enter; the offer can activate directly via the link. This page references the most advantageous offer available, verified regularly. To compare with brokers cheaper on small orders, see also Degiro and Trade Republic.

Saxo Bank is a very broad-spectrum broker, unlike ETF-only neobrokers. Main asset classes: stocks (70+ global exchanges), ETFs (thousands, including a no-fee selection), bonds (secondary market), derivatives (options, futures, turbos, CFDs — for sophisticated investors), forex (major and exotic pairs), and commodities (gold, oil, etc. via derivatives). This diversity makes Saxo a strong choice for investors going beyond plain stocks and ETFs — notably stock options or index trading. Derivatives carry a risk of loss exceeding the capital invested (leverage) and are not for beginners.

Saxo Bank is the French arm of Saxo Bank A/S (Denmark, founded 1992), present in 15+ countries; it acquired BinckBank in 2018 and, since 2025, is majority-owned by Swiss private bank J. Safra Sarasin. Strengths: competitive brokerage on mid-to-large orders, a very broad instrument catalogue, a well-stocked PEA, group strength. Limits: a complex trading interface, minimum fees that penalise small orders, and no cash interest versus Trade Republic or Scalable Capital. Saxo suits experienced investors with a significant portfolio. Investing carries capital-loss risk; derivatives can cause losses exceeding the capital invested. Saxo is regulated across the EU (AMF in France).