Saxo Is Legit checklist

Legitimacy checks start with identity. Brokers often operate through multiple legal entities in different countries, and the protections you receive depend on which entity holds your account. During sign-up, note the exact registered company name, registration number and jurisdiction shown in the client agreement. Then go to the public register of the regulator named in those documents and search for that entity yourself. Confirm the registration is active, that the permissions cover the services you will use, and that contact details on the register match those the broker gives you. A mismatch between the website, the agreement and the register is a signal to pause and ask questions.

A second layer of verification concerns how client funds are treated. Read the broker's terms for the entity that will hold your account and look for statements about segregation of client money, the banks used, and any investor compensation scheme that may apply in that jurisdiction. Compensation schemes differ widely by country in coverage and limits, and some client categories or products may fall outside them, so read the scheme's own eligibility rules rather than assuming coverage. Keep copies of the documents you relied on, dated at the time you opened the account.

Even when a broker is properly regulated, fraudsters sometimes impersonate well-known names through cloned websites, fake apps or unsolicited messages. Type the broker's address yourself rather than following links from ads, emails or social media, and confirm the domain matches what appears in official regulatory records. Be cautious of anyone contacting you claiming to represent the broker and promising returns, account upgrades or urgent deposits; legitimate firms do not guarantee profits. If something feels off, contact the broker through the channels listed in its official documents and check your regulator's warning lists. The reviews hub at /reviews collects further broker research pages if you want to run this process on other firms.