Saxo Bank is headquartered in Copenhagen and operates through offices in financial centres such as London, Paris, Zürich, Dubai, Singapore, India, and Tokyo.

[5] When the company acquired its license, the periodical Økonomisk Ugebrev [da] (Economic Weekly) began publishing an article series on sidegadevekslererne, the bucket shops of Denmark, and included Midas.

[6][7][8] In the autumn of 1996, Danish businessman Karsten Ree [de] accused Midas of misleading him into making fictitious investments through its wealth management services, resulting in losses exceeding DKK 800,000 in a single month.

Following the launch of Citigroup's CitiFX Pro, an online foreign exchange trading platform developed by Saxo, in November 2008,[15] the Bank would focus entirely on its institutional clients in the US.

[21] Observers partly attributed this growth to a nearly 500% increase in trading turnover by Saxo Bank's largest partner, Citi, during the same period.

In May 2011, Saxo Bank further announced a partnership with TD Waterhouse, the UK's leading execution-only broker, to provide an online derivatives trading platform for retail investors.

[25] At the 2010 World Finance Foreign Exchange Awards, Saxo Bank was named "Best White Label Solution Provider," recognizing its long-standing focus on innovation in its white-label business.

[28] According to Markit, Saxo Bank was the first financial institution to report its CFDs on Single Stock trades on a voluntary basis, in a bid to bring greater transparency to this fast growing market.

[30] Brørup Sparekasse had faced significant financial difficulties in 2008 and 2009, primarily due to failed investments in unlisted bonds, which resulted in a pre-tax loss of DKK 74 million in 2009.

Saxo Bank also committed to providing an additional capital contribution of at least DKK 150 million, contingent on the successful transformation of Brørup Sparekasse into a joint-stock company.

[32] Saxo Privatbank operated branches in several Danish cities, including Brørup, Esbjerg, Fredericia, Hellerup, Kolding, Odense, Vejle and Århus.

[33][34] In January 2014, Saxo Bank introduced a beta version of a revised TradingFloor.com, repositioning a community portal as a multi-asset social trading platform that encouraged users to share information, tips, and strategies openly.

[42] On 2 October 2017, the Chinese carmaker Geely announced the plans to increase its stake in Saxo Bank to 51.5% if the deal were approved by regulators.

[48] However, the bank's financial indicators have weakened: it reported its first semi-annual loss in several years during the second half of 2023,[46] and 2023 ended with a 8.1% decline in net profits.

[49] In July 2024, Saxo hired Goldman Sachs as a financial advisеr to seek new owners for the shares held by Geely (just under 50%) and Mandatum (under 20%).

[52] Despite reporting a 43% increase in its client base in 2024 and introducing a simplified platform along with the AutoInvest ETF investment feature,[53] Saxo's trading metrics continued to deteriorate.

When the bank signed the sponsorship agreement with Riis Cycling A/S, it noted that the team "has the international reach and name recognition that means we will be able to get our message our to most of our client groups around the globe.

[69][70] In 2008, Saxo Bank admitted censoring its own Wikipedia article through an anonymous user to remove information it claimed was inaccurate.

[73] The investigation was sparked by a wave of negative media coverage, with Danish newspapers Dagbladet Børsen and EPN publishing articles accusing Saxo of misconduct, as alleged by former employees and clients.

[74][75] One notable accusation came in May 2010 from a Lebanese investor, who claimed their company lost DKK 20 million in four months due to unstable pricing and system interruptions on SaxoTrader.

[76][77][78] Earlier, in April 2010, a Portuguese financial institution accused Saxo Bank of manipulating stock and currency prices, alleging a loss of €10 million due to these practices.

[81][75] The Oliver Wyman report concluded that Saxo Bank had not systematically mispriced manual orders or violated its trading policies.

ASIC Chairman Greg Medcraft stated that the additional conditions were necessary to ensure that risk management practices met the standards required by law.

This action followed the sentencing of Russell Johnson, Director of Sonray Capital Markets—a white-label partner of Saxo Bank—to six and a half years in prison after his firm left debts totaling A$76 million.

This mismanagement highlighted significant lapses in oversight and raised questions about Saxo Bank's role in the improper handling of client assets.

[94] The next day, Saxo Bank retroactively adjusted the execution prices of orders placed on CHF currency pairs during the ensuing period of extremely low liquidity.

Some clients, who had already closed positions on EUR/CHF and related instruments, incurred additional losses and accused Saxo Bank of unfair repricing and burdening them with higher negative balances.

[99] In July 2015, after reviewing Saxo Bank's conduct during the "Swiss event," the Danish FSA issued two reprimands related to insufficient disclosure of liquidity conditions and inadequate communication about the difficulties in executing orders.

The violations occurred between 1 January 2021 and 11 April 2023 and included failure to comply with asset segregation rules, insufficient control over business processes, and inadequate customer service.