Who Saxo is
Saxo is a Danish bank and online broker, founded in Copenhagen in 1992 and headquartered in Hellerup. Saxo Bank A/S is supervised by the Danish Financial Supervisory Authority and is a systemically important financial institution in Denmark. J. Safra Sarasin Group, part of the J. Safra Group, has completed its acquisition of Saxo and now owns it fully.
Beyond its own platforms, Saxo works with banks, brokers and wealth managers, giving them execution, custody and access to stocks, ETFs, bonds, funds and forex. Its OpenAPI opens that infrastructure to their own apps, which is why it is one of the brokers our portfolio module connects to.
What it does in your platform
Portfolios
Executes your investors' orders and holds their assets across Saxo's multi-asset range. The module keeps positions, balances and orders in sync through Saxo's streaming and event notifications, and shows them as holdings, performance and statements.
How the connection works
One connector in the portfolio module talks to Saxo's OpenAPI: REST for accounts, orders and reports, and WebSocket streams for live updates. The app key and secret stay in the platform's secrets, never in an app, as Saxo advises.
The client is onboarded
After your KYC checks, the module sends the investor's details through Saxo's onboarding services, and Saxo opens the account.
The service signs in
A long-running service keeps the OpenAPI session, with certificate-based authentication where Saxo enables it for introducing brokers and white-label clients.
An order goes in
The module places the order through the OpenAPI trade services; Saxo executes it and books it to the investor's account.
Updates stream back
WebSocket subscriptions push positions, balances and order changes as they happen, without polling.
Events are caught
Saxo's event notification service reports order, position, funding and corporate action events, and can replay recent ones after a reconnect.
Reports fill the statements
Account statements and portfolio reports from Saxo's client reporting feed the investor's documents.
Next to other providers
Saxo sits next to Alpaca, DriveWealth, Interactive Brokers and Upvest in the portfolio module. It suits banks and wealth managers that want a bank as their execution and custody partner; reference data providers such as Twelve Data describe the instruments, while Saxo's records decide what each investor holds.
The investor experience belongs to the module, not to the broker. A later move to another broker leaves your app unchanged; existing holdings move by transfer, which we plan with you.
When Saxo fits best
A strong fit when
- You are a bank, broker or wealth manager and want a bank as your execution and custody partner.
- Your investors want more than stocks and ETFs: bonds, funds and forex from one account.
- You want streaming updates and event notifications instead of polling for changes.
Also worth a look
- Interactive Brokers, another multi-asset broker that works with regulated brokers.
- Upvest, when fractional investing and savings plans for European investors are the core of your product.
How we get you live
The contract
We help you get your Saxo account and contract in place, set up for your licence, your markets and the products your investors will trade.
The client setup
We configure with you how clients are onboarded, which instruments they can trade and where their accounts sit in Saxo's client hierarchy.
The keys
The app key, secret and any client certificate go into your platform's secrets and nowhere else.
A full test run
The flow runs first in Saxo's simulation environment, a copy of live with simulated accounts; reporting, which simulation does not offer, is checked at go-live.
