Saxo licence numbers

Saxo's UK licence number is FCA 551422, held by Saxo Capital Markets UK Ltd. The more useful answer, though, is that Saxo is a bank twice over: Saxo Bank A/S is a Danish bank and Saxo Bank (Schweiz) AG is a Swiss one, and that changes what happens to your money far more than any reference number does. There is also one number still circulating on comparison sites that no longer belongs to Saxo at all.

The numbers, by market

Four entities verified at the regulator's own source.

Where you sign up	Company	Licence	If it fails
Denmark and much of the EU	Saxo Bank A/S	Danish bank, Finanstilsynet. Designated a SIFI on 25 June 2026	EUR 100,000 deposits, EUR 20,000 securities
United Kingdom	Saxo Capital Markets UK Ltd	FCA 551422, Authorised 5 October 2011	FSCS, £85,000
Switzerland	Saxo Bank (Schweiz) AG	Swiss bank, FINMA. On the esisuisse member list	esisuisse, CHF 100,000
Singapore	Saxo Capital Markets Pte. Ltd.	MAS Capital Markets Services Licensee	Nothing
Australia	No longer served. AFSL 280372 now belongs to Totality Wealth Limited.

AFSL 280372 is not Saxo's any more

This is the one to know about, because a great many pages published this year still get it wrong.

Type home.saxo/en-au into a browser and you land on totality.com.au, under the page title "Totality (Formerly Saxo Australia)". AFCA's member register confirms it: AFSL 280372 is held by Totality Wealth Limited, ACN 110128286, an AFCA member since 13 June 2008, with former names recorded as Commodity Broking Services Pty Ltd, Saxo Capital Markets (Australia) Pty Ltd and Saxo Capital Markets (Australia) Limited. There is no current Saxo entity in the register at all.

The licence is real and active. It is simply not Saxo's. An Australian reader who checks "AFSL 280372" against a comparison table saying Saxo is ASIC-regulated will find a valid licence and draw exactly the wrong conclusion.

This is the ordinary way broker information goes stale, and it is the best argument we have for checking the licence yourself: a number that checks out is not the same as a number that belongs to the firm you are reading about.

What the FCA register shows: one previous name

Saxo Capital Markets UK Ltd has been authorised since 5 October 2011 and can hold and control client money. It declares five names on the register, all of them Saxo's own: Saxo Capital Markets UK Ltd, Saxo UK, Saxo, Saxo Markets and Saxo Capital Markets.

The previous-names table holds one entry, and it is a cosmetic change from "Limited" to "Ltd" in March 2025.

That is worth stating because the comparison is stark. IG Markets Limited carries forty previous trading names, almost all of them other firms' CFD brands. CMC Markets UK plc carries twenty-nine and CMC Spreadbet plc thirty-five, including two high-street banks and three gambling companies. Saxo has never rented its licence to anybody.

Two banking licences is the real answer

On 25 June 2026 Finanstilsynet named seven systemically important financial institutions in Denmark: Danske Bank A/S, Nykredit Realkredit A/S, Jyske Bank A/S, AL Sydbank A/S, Nordea Kredit Realkreditaktieselskab, DLR Kredit A/S and Saxo Bank A/S.

A SIFI designation brings higher capital requirements, closer supervision and resolution planning. For a client it means the institution is held to bank-level prudential standards rather than the lighter regime that applies to most brokers. Saxo Bank A/S is the only broker in our database designated systemically important anywhere.

Danish clients get deposit cover to EUR 100,000 and securities cover to EUR 20,000 through Garantiformuen, whose own wording is that the protection "does not cover losses due to market fluctuations". Swiss clients are with a second bank on the esisuisse list at CHF 100,000. Singapore clients have no scheme at all, because none covers a Capital Markets Services licensee.

Check it yourself

Search 551422 on register.fca.org.uk. For Australia, search AFCA's financial firm register rather than trusting a comparison table, and note the former-names field. For Switzerland, use the search box on the esisuisse member list rather than scanning the page, because the list paginates and a visual scan will miss entries.

Frequently asked questions

What is Saxo's FCA number?

551422, held by Saxo Capital Markets UK Ltd, authorised since 5 October 2011 and able to hold and control client money. The register lists five declared Saxo names and a single previous name recording a change from "Limited" to "Ltd" in March 2025.

Is Saxo still regulated in Australia?

No. AFSL 280372 now belongs to Totality Wealth Limited, whose former names on AFCA's register include Saxo Capital Markets (Australia) Pty Ltd, and home.saxo/en-au redirects to totality.com.au under the title "Totality (Formerly Saxo Australia)". Comparison pages still listing Saxo as an ASIC-regulated broker are out of date.

Is Saxo a bank?

Yes, twice. Saxo Bank A/S is a Danish bank supervised by Finanstilsynet and was designated a systemically important financial institution on 25 June 2026. Saxo Bank (Schweiz) AG is a Swiss bank supervised by FINMA and appears on the esisuisse member list. The UK and Singapore entities are brokers rather than banks.

Sources

Financial Conduct Authority register, Saxo Capital Markets UK Ltd, FRN 551422: Authorised since 05/10/2011, can hold and control client money, five current declared names and a single previous name recording the change from Limited to Ltd on 21 March 2025. Checked 20 September 2026.

Australian Financial Complaints Authority financial firm search: AFSL 280372 held by Totality Wealth Limited, ACN 110128286, member 12002, member since 13/06/2008, formerly Commodity Broking Services Pty Ltd, Saxo Capital Markets (Australia) Pty Ltd and Saxo Capital Markets (Australia) Limited. home.saxo/en-au observed redirecting to totality.com.au. Checked 20 September 2026.

Finanstilsynet, annual designation of systemically important financial institutions in Denmark, 25 June 2026, naming Saxo Bank A/S among seven. Garantiformuen at fs.dk for the EUR 100,000 and EUR 20,000 limits. esisuisse member bank list for SAXO BANK (SCHWEIZ) AG and the CHF 100,000 limit. MAS Financial Institutions Directory for Saxo Capital Markets Pte. Ltd. All checked 20 September 2026.