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Sarwa vs Saxo: fees, markets and protection

Facts for both companies from their official pages; each was checked on the date shown in its review.

Facts verified on October 18, 2026

Key differences

Only Saxo lists Toronto Stock Exchange, London Stock Exchange, Xetra (Deutsche Börse), Euronext, SIX Swiss Exchange, Johannesburg Stock Exchange (JSE), and Hong Kong Exchanges (HKEX).
Only Sarwa is licensed by FSRA (ADGM).
Only Saxo is licensed by Danish FSA, CBUAE, FCA, MAS, FINMA, Kanto LFB, and CONSOB.

Criterion	Sarwa	Saxo
Rating	4.6/5 on other platforms 5.3K ratings	4.2/5 on other platforms 9.9K ratings
Regulators	FSRA (ADGM)	Danish FSA, CBUAE, FCA, MAS, FINMA, Kanto LFB, CONSOB
Minimum deposit	$500	No minimum
Markets	US exchanges (NYSE, Nasdaq)	US exchanges (NYSE, Nasdaq), Toronto Stock Exchange, London Stock Exchange, Xetra (Deutsche Börse), Euronext +3
Products	stocks, ETFs, fractional shares	stocks, ETFs, bonds, options, funds
US stock or ETF order	0.25% of the order, minimum $1	0.08% of the order, minimum $1
Deposits and withdrawals	Bank transfer	Bank transfer, Visa / Mastercard
Currency conversion fee	—	0.25%
Investor protection	—	Danish Guarantee Fund (cash deposits), Danish Guarantee Fund (securities not returned)
Available only in	—	Australia, Austria, Belgium, Croatia, Czechia, Denmark +36
Founded	—	1992
Headquarters	—	Denmark
	Read review	Read review

What is the minimum deposit at Sarwa and Saxo?

Sarwa: $500. Saxo: €0.

Which regulators license Sarwa and Saxo?

Sarwa is licensed by FSRA (ADGM); Saxo by Danish FSA, CBUAE, FCA, MAS, FINMA, Kanto LFB, and CONSOB.