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Subject: Avoid Saxo Bank UK at All Costs – Incompetent, Disorganized, and a Complete Waste of Time

Subject: Avoid Saxo Bank UK at All Costs – Incompetent, Disorganized, and a Complete Waste of Time

I strongly advise anyone considering Saxo Bank UK to stay away. The level of incompetence and disorganization we experienced is beyond belief.

To provide some context: after two months of being completely stalled by Saxo Bank, we decided to test the waters elsewhere. We submitted an application to Interactive Brokers (IBKR) with only a fraction of the documentation we had already provided to Saxo. Despite that, IBKR approved our corporate account in just **2-3 business days**. Our paperwork was immaculate, well-supported, and raised no red flags whatsoever.

In contrast, Saxo Bank has kept our application in limbo for over two months. Their compliance department appears completely lost—lacking even a basic understanding of standard business concepts. They have repeatedly asked nonsensical questions, many of which had already been clarified in previous correspondence. Their inquiries into our business plans and source of funds have gone well beyond the scope of reasonable due diligence, dragging on without resolution.

To make matters worse, their sales agents are equally unreliable. Tickets are left unanswered for weeks, agreed-upon conference calls are missed without notice, and no final decision on the account approval has ever been provided.

In over 30 years of dealing with international brokers, I have never witnessed anything like this circus-like experience with Saxo Bank. Save yourself the frustration and take your business elsewhere.

Date of experience: Feb 20, 2026