Saxo Bank in Mexico — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%35
- Round-turn cost20%80
- Safety20%0
- Payouts15%no data
- Track record10%100
- Platforms10%30
Numbered by weight: axis 1 counts for most.
Key facts
Licence check
Open an account with Saxo BankThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards Mexico residents
- No Mexico onboarding
- Local standing
- Not served in Mexico
- Licence as the register states it
- No Mexico license
- Leverage for this entity
- Global default not stated
- The firm behind it
- Danish regulated bank
- What we hold against it
- Mexico exclusion flagged
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Mexican residents enters the score.
Global default not stated
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youNot served in Mexico
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Mexico market median(priced from 71 of 75)
Medians run over the 71 of 75 brokers that publish a price for Mexico, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Individual, corporate. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Cost calculator (median of 71 priced of 75)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a MXN conversion because the exchange rate is not part of our data.
Where Saxo Bank sits in the Mexico base(75 brokers)
Round-turn cost, USD (71 of 75 priced)
Median 7 USD · range 1.5-20 · this broker 9 USD · 4 of 75 brokers do not publish it
Minimum deposit, USD (3 of 75 priced)
Median 50 USD · range 5-100 · 72 of 75 brokers do not publish it
Retail leverage (52 of 75 with a Mexico figure)
Median 1:1000 · range 50-10000 · 23 of 75 brokers do not publish it
Withdrawal time published (75 brokers)
Deposit and withdrawal methods (1 methods · 0 local rails)
Not stated for Mexico
- Account currency
- 24 currencies
- Fee declared
- 0 of 0 methods
- Withdrawal back to
- the funding method
Where it does not serve(10 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- SaxoTrader
- SaxoInvestor
| Class | Count | Min spread |
|---|---|---|
| SaxoTrader | — | 0.9 |
| SaxoInvestor | — | 0.9 |
| All instruments | 71000+ | — |
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.7 | 7,458 |
Share of reviewers in Mexico: — The platform does not publish it.
Pros and cons(2 for and 3 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 73 of 75 brokers here that publish a time
- Track record 100 of 100, its strongest of 6 scored axes
- Round turn 9 USD on the standard basis, over the Mexico median 7
- No Mexico authorisation on file: the entity that onboards you is licensed elsewhere
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in Mexico(5 of 75 scored in Mexico)
- Round turn, USD
- 7.5MX
- Min deposit, USD
- 50MX
- Leverage
- 200MX
- Rank in this country
- #3
- Round turn, USD
- 7MX
- Min deposit, USD
- 20 groupMX
- Leverage
- 300 group
- Rank in this country
- #4
- Round turn, USD
- 7MX
- Min deposit, USD
- 50 groupMX
- Leverage
- 500MX
- Rank in this country
- #7
- Round turn, USD
- 7MX
- Leverage
- 200MX
- Rank in this country
- #8
- Round turn, USD
- 7MX
- Min deposit, USD
- 10 groupMX
- Leverage
- 2000MX
- Rank in this country
- #9
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Mexico score. Full methodology
| Axis | Weight | What is measured | Saxo Bank |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 35 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 80 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 30 |
FAQ
- Does Saxo Bank accept residents of Mexico?
- No. Not served in Mexico Onboarding entity: No Mexico onboarding
- Is Saxo Bank licensed to serve clients in Mexico?
- No Mexico license Checked on 11.10.2026.
- How much does one round turn cost at Saxo Bank?
- About 9.0 USD per standard lot on EUR/USD. The median across brokers measured for Mexico is 7.0 USD.
- Which trading platforms does Saxo Bank support?
- SaxoTrader, SaxoInvestor. Instruments: 71,000+ instruments
- How can I withdraw money from Saxo Bank in Mexico?
- Not stated for Mexico
- What account types does Saxo Bank offer?
- Individual, corporate
Taxes for a Mexican resident(1 rule)
- Trading gains are taxable in Mexico and should be reported to SAT.https://www.monterreydigitalbank.com/investment/saxo
Not tax advice. Check with the SAT.