Tips on what to pay attention to So you have read our comprehensive review of Saxo Bank (abbreviated SAXO) and you have decided to open an account. This guide will walk you through the steps of the process.In some ways, this broker account opening process can be longer than for other brokers. That’s because SAXO is more sophisticated. But, we make this process a bit simpler. In the end going through it is worth the hassle given the benefits the broker may give you in the long run.Let’s get started!We added special considerations (Marked as⚠️) to pay attention to. They may be different to other brokers and/or have special importance. STEPS TO OPEN AN ACCOUNT Phase 1 (Steps 1 to 3). This phase is a standard registration process: click the open account button, create your login credentials, and verify your email. Crucially, the country of residence (not your citizenship) you select during registration determines exactly which Saxo legal entity you are assigned to. While this guide focuses on the standard Saxo Bank onboarding flow, we also highlight the specific compliance and regulatory differences applicable to 🇬🇧 UK residents.Phase 2 (Steps 4 to 10). A few standard steps: provide personal information including employment status, source of wealth, trading experience, choose your base currency and answer regulatory questions. Pay attention to your base currency selection, as Saxo generally does not allow the base account currency to be changed once the account has been funded. We also point out some of the additional suitability and compliance questions shown to 🇬🇧 UK applicants.Phase 3 (Steps 11 to 16). Configure and finalize your account by completing the W-8BEN tax declaration, accepting the legal agreements and submitting proof of identity and address. Pay attention to your tax residency and the treaty in place between your country and the US to ensure that you benefit from the reduced US withholding tax rates where applicable. We also explain some of the additional legal declarations and verification steps required for 🇬🇧 UK-based applicants under Saxo’s FCA-regulated onboarding framework. 👉 Open an account with Saxo Bank Phase 1: Identity Routing & Account Creation Landing Page and Open An Account Button Step 1️⃣ –  Landing Page and Open Account ButtonClick the blue “Open Account” button on the top right of the screen or in the center. Step 2 – ⚠️ Create Account & Residency Selection Step 2️⃣ – ⚠️Create Account & Select ResidencyEnter your name, email address and country of residency:⚠️Attention: