Saxo

Legal

Terms & Conditions

Last updated: January 2026

These Terms & Conditions ("Terms") govern your access to and use of www.saxotradegroup.com (the "Website") and any trading, investment, custody, advisory or related services made available by Saxo Trade, a brand of Saxo Bank A/S ("Saxo Trade", "we", "us" or "our"). By accessing the Website or opening an account you agree to be bound by these Terms in their entirety.

1. Eligibility & Acceptance

You must be at least 18 years old and legally capable of entering into binding contracts to use our services. By submitting an application you represent that all information you provide is true, complete and not misleading. We may, at our absolute discretion, refuse, suspend or terminate any account or transaction at any time without liability and without being required to disclose our reasons, save where mandated by law.

2. Regulatory Status

Saxo Bank A/S is authorised and supervised by the Danish Financial Supervisory Authority (Finanstilsynet), licence no. 1149, company registration no. 15731249. Saxo Group entities are additionally regulated in Switzerland, the United Kingdom, Singapore, Italy and Japan by the respective local authorities. Services may not be available, or may be subject to restrictions, in jurisdictions where their offering would be contrary to local law.

3. Risk Warning

Trading and investing in financial instruments — including margin products, CFDs, FX, futures, options, equities, bonds, ETFs, structured products and cryptoassets — involves a high level of risk and may not be suitable for all investors. You may lose some or all of your invested capital. Leveraged products carry the risk of losses exceeding your initial deposit. Past performance is not a reliable indicator of future results. Prices, valuations, rates and yields may fluctuate due to market conditions outside our control. You should not invest funds you cannot afford to lose, and you should seek independent advice if you are in any doubt.

4. Suitability & Appropriateness

Where required by law, we will assess the suitability or appropriateness of a service or product based on the information you provide. You are solely responsible for ensuring that all information provided to us — including your knowledge, experience, financial situation and investment objectives — is accurate and up to date. We rely on this information and accept no liability for losses arising from inaccurate or incomplete disclosure.

5. No Investment Advice

Unless we have expressly entered into a written advisory or discretionary mandate with you, none of the content on the Website, in our research, market commentary, educational materials, tools, signals, calculators, model portfolios or communications constitutes investment advice, a recommendation, a solicitation or an offer to buy or sell any financial instrument. All decisions to trade are taken by you, at your own risk, and on the basis of your own analysis.

6. Orders, Execution & Settlement

We will use reasonable endeavours to execute your orders in accordance with our Order Execution Policy. We do not guarantee that any order will be executed, executed at a particular price, executed in whole or in part, or executed within any particular timeframe. We may, without notice, modify, suspend, refuse, cancel or close any order or position where we reasonably consider it necessary, including in cases of suspected market abuse, manifest error, system failure, abnormal market conditions, regulatory request, or breach of these Terms.

7. Manifest Error

A "manifest error" means any error, omission or misquote in any price, rate, valuation or transaction that is materially incorrect having regard to prevailing market conditions. We reserve the right, acting in good faith, to void, amend or correct any transaction affected by a manifest error and you agree to be bound by such adjustment.

8. Margin, Leverage & Liquidation

Where you trade leveraged products you are required to maintain sufficient margin at all times. If your account equity falls below the required maintenance margin, we may, at our sole discretion and without further notice, partially or fully close out any or all of your open positions, sell or transfer collateral, set off balances across accounts, and take any other action we deem necessary to protect our position. You remain liable for any resulting negative balance, save where statutory negative-balance protection applies.

9. Fees, Commissions & Charges

A schedule of applicable fees, commissions, spreads, financing rates, currency conversion charges, custody fees and other costs is published on the Website and may be amended from time to time. You authorise us to debit such amounts directly from your account. Third-party charges (e.g. exchange, clearing, regulatory, tax) may also apply.

10. Client Money & Asset Protection

Client cash and client financial instruments are segregated and held in accordance with the applicable client-money and custody rules. As a member of the Danish Depositor and Investor Guarantee Scheme, eligible cash deposits are protected up to EUR 100,000 per depositor and eligible financial instruments are protected up to EUR 20,000 per investor, subject to the rules of the scheme. See our Licences & Regulations page for full details.

11. Intellectual Property

All content on the Website — including text, design, graphics, logos, software, data, charts, market analysis and trade names — is owned by or licensed to Saxo Trade and is protected by copyright, trademark, database and other intellectual-property laws. You are granted a limited, revocable, non-exclusive, non-transferable licence to access the Website for personal, non-commercial use. Any other use, including reproduction, redistribution, scraping, framing, mirroring or commercial exploitation, is strictly prohibited without our prior written consent.

12. Acceptable Use

You agree not to, and not to attempt to:

  • use the services in any unlawful, fraudulent or abusive manner, or in breach of any applicable law, regulation or market rule;
  • engage in market manipulation, insider dealing, spoofing, layering, wash trading or any other form of market abuse;
  • circumvent, disable, reverse-engineer or interfere with any security, authentication, technical or operational feature of our platforms;
  • use any automated system, bot, scraper or algorithm to access the Website except as expressly authorised; or
  • impersonate any person or misrepresent your affiliation with any person or entity.

13. Limitation of Liability

To the maximum extent permitted by law, Saxo Trade, its affiliates and their respective directors, officers, employees and agents shall not be liable for any indirect, incidental, special, consequential, exemplary or punitive damages, or for any loss of profits, revenue, business, goodwill, anticipated savings or data, arising out of or in connection with your use of the Website or our services, even if advised of the possibility of such damages. Our aggregate liability to you in respect of any and all claims arising out of or in connection with these Terms shall not exceed the total fees and commissions paid by you to us in the twelve (12) months preceding the event giving rise to the claim. Nothing in these Terms limits or excludes any liability that cannot lawfully be limited or excluded, including liability for fraud or fraudulent misrepresentation.

14. Indemnity

You agree to indemnify, defend and hold harmless Saxo Trade, its affiliates and their respective personnel from and against any and all claims, losses, liabilities, damages, costs and expenses (including reasonable legal fees) arising out of or in connection with: (a) your breach of these Terms; (b) your breach of any applicable law or third-party right; (c) any inaccurate or incomplete information provided by you; or (d) any unauthorised use of your account caused by your failure to safeguard your credentials.

15. Force Majeure

We shall not be liable for any failure or delay in performance caused by events beyond our reasonable control, including acts of God, war, terrorism, civil unrest, governmental action, sanctions, pandemics, strikes, exchange or clearing-house disruption, market closure, suspension of trading, abnormal market conditions, cyber-attacks, telecommunications or power failures.

16. Suspension & Termination

We may suspend, restrict or terminate your access to the Website and/or your account, in whole or in part, immediately and without notice, where we reasonably consider it necessary, including for regulatory, legal, risk, fraud, security or commercial reasons. Termination shall not affect any rights or obligations accrued prior to termination.

17. Amendments

We may amend these Terms from time to time. Material amendments will be notified to you with reasonable notice, including by posting on www.saxotradegroup.com. Continued use of our services after the effective date constitutes acceptance of the amended Terms.

18. Governing Law & Jurisdiction

These Terms, and any non-contractual obligation arising out of or in connection with them, are governed by the laws of Denmark. The courts of Copenhagen, Denmark shall have exclusive jurisdiction to settle any dispute, save that we may bring proceedings against you in any court of competent jurisdiction.

19. Severability & Entire Agreement

If any provision of these Terms is held invalid or unenforceable, the remaining provisions shall continue in full force and effect. These Terms, together with our account agreement, business terms, order execution policy and any product-specific terms, constitute the entire agreement between you and us regarding the subject matter hereof.

20. Bonus Policy

Bonus Ownership. Any bonus credited to the Client's account remains the property of Saxo Trade until all applicable bonus conditions have been fully satisfied. Bonuses do not constitute client funds and are not withdrawable unless expressly stated otherwise by the Company.

Withdrawal Restrictions Related to Bonuses. If a Client accepts any bonus offered by Saxo Trade, the entire balance of the trading account, including deposited funds, bonus funds, and any generated profits, shall become subject to the bonus conditions.

The Client shall not be permitted to withdraw any amount from the trading account unless one of the following conditions has first been satisfied:

  • The bonus has been fully removed and replaced by an equivalent amount deposited by the Client; or
  • The Client has completed the required trading volume equal to fifty (50) times the bonus amount received, calculated in standard lots.

Any withdrawal request submitted before satisfaction of these conditions may be rejected, delayed, or canceled at the sole discretion of Saxo Trade.

Trading Volume Requirement. The required trading volume shall be calculated in standard lots and based on closed trades only. For example, if the Client receives a bonus of $1,000, the Client must complete trading activity equal to 50,000 standard lots before any withdrawal request can be approved. Saxo Trade reserves the right to refuse, delay, or cancel withdrawals until all applicable bonus conditions have been fully satisfied.

Bonus Abuse. Saxo Trade reserves the right to cancel, revoke, or remove bonuses in cases involving suspected abuse, fraudulent activity, bonus arbitrage, or breach of these Terms and Conditions.

21. Contact

Saxo Bank A/S
Philip Heymans Allé 15, 2900 Hellerup, Denmark
Web: www.saxotradegroup.com
Email: legal@saxotradegroup.com