Antoine Bouvy

31 Mar 2025

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Saxo bank transfers portfolios to Semmie – what does this Mean for your money?

If you’re a Saxo Bank client in Belgium, you may have recently received news that your managed investment portfolio will soon be transferred to Semmie, a Dutch investment platform. This unexpected change has raised several important questions for investors: Is Saxo Bank a real bank? Is it a good one? Who owns it? And above all — is your money still safe? Let’s take a closer look at the facts, and explore what alternatives exist for Belgian investors looking for stability, transparency, and local support.

Is Saxo Bank a real bank?

Yes, Saxo Bank is a real bank — but not a Belgian one. Saxo Bank is a Danish investment bank headquartered in Copenhagen. It was founded in 1992 and is regulated by the Danish Financial Supervisory Authority (FSA). The bank offers online trading and investment services in multiple countries, including Belgium, primarily through digital platforms.

However, it’s important to note that Saxo Bank operates as a foreign institution in Belgium. This means that while it is licensed to offer investment services, it does not have a physical presence or local banking infrastructure in the country.

Is Saxo Bank a good bank?

Saxo Bank is well-known for its trading platform and broad access to global markets. If you’re an experienced investor who wants to actively manage your own portfolio, Saxo’s tools and pricing can be attractive. However, recent developments suggest a shift in strategic focus. The decision to exit the wealth management space and transfer managed portfolios to Semmie may raise questions about Saxo’s long-term commitment to passive, guided investing and long-term wealth management. For Belgian investors who prefer personal guidance, portfolio stability, and a tax-optimized approach, this move may feel like a step away from what they originally signed up for.

Who owns Saxo Bank?

Saxo Bank is privately owned. Its main shareholders include:

• Geely Financials Denmark A/S, a subsidiary of the Chinese automotive giant Geely Group (which owns Volvo and other automotive brands). Geely owns over 50% of Saxo Bank.
• Sampo Group, a Finnish financial group, which holds a significant minority stake.

This international ownership structure underlines Saxo’s global nature — but it also means that strategic decisions may be driven by priorities beyond the Belgian market or investor interests.

Is my money safe with Saxo Bank?

As a regulated European bank, Saxo Bank must adhere to EU banking standards, including investor protection measures such as:

• Segregation of client assets from the bank’s own funds.
• Coverage under the Danish Guarantee Fund, which protects client cash deposits up to €100.000.
• Regulatory oversight by the Danish FSA.

That said, Saxo’s decision to transfer portfolios to Semmie — another foreign, fully digital platform — may leave you wondering: Will the same standards apply? Will my investments remain aligned with my financial goals, tax situation, and personal preferences? And that’s a fair question to ask.

A Belgian Alternative: Meet Easyvest

If you’re looking for a more transparent, locally-rooted approach to investing, Easyvest is a strong alternative. We are a Belgian digital Wealth Manager, specialized in long-term, passive investing using index funds. Our platform combines digital efficiency with human advice — and our services are fully aligned with the Belgian legal and fiscal context.

Final Thoughts

Saxo Bank’s decision to hand off its clients to another provider may leave you wondering who’s really managing your money — and whether they understand your needs as a Belgian investor.

If you value stability, clarity, and a personalized relationship with your investment manager, it may be time to take control and explore a local, long-term solution. Looking for peace of mind? Try our portfolio simulator or book a free call with one of our advisors. With Easyvest, you get simple, transparent, and tax-smart investing — from a team that speaks your language.

Start my simulation

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