Is Saxo Bank a Scam? Regulation Check 2026
We checked Saxo Bank's licence in the official ASIC register. Here is what the public records say.
Verdict
Saxo Bank is NOT a scam. It holds ASIC licence 280372, authorising it to offer trading services in New Zealand.
How to verify on the official register
| Regulator | ASIC ASIC Australian Securities and Investments Commission (ASIC) |
| Licence Number | 280372 |
| Regulated Entity | Saxo Capital Markets (Australia) Pty Ltd |
| Founded | 1992 |
What ASIC regulation means
ASIC-regulated brokers must keep client funds in segregated accounts, provide negative balance protection, and submit to independent audits. Clients can file complaints with ASIC directly.
What ASIC regulation means for your money
- Client funds held in segregated bank accounts, separate from Saxo Bank's own capital
- Negative balance protection — you cannot lose more than your deposit
- Right to file complaints directly with ASIC if Saxo Bank fails to resolve your issue
- Saxo Bank submits to regular independent financial audits under ASIC oversight
Frequently Asked Questions
Is Saxo Bank a scam or legitimate?
Saxo Bank is NOT a scam. It holds ASIC licence number 280372. ASIC is one of the world's most respected financial regulators. The licence is publicly verifiable in the ASIC official register.
How do I check Saxo Bank's ASIC licence?
Go to the official ASIC website and use the public register search. Search for licence number 280372 or the entity name. The record will confirm Saxo Bank's authorisation status and the scope of its permissions.
Are my funds safe with Saxo Bank?
As an ASIC-regulated broker, Saxo Bank must keep all client funds in segregated bank accounts, completely separate from company funds. This protects your deposits even if Saxo Bank encounters financial difficulties.
What protection do I have as a Saxo Bank client in New Zealand?
In New Zealand, Saxo Bank operates under ASIC supervision. You are entitled to: segregated client funds, negative balance protection (you cannot lose more than you deposit), and the right to file complaints directly with ASIC.
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