Saxo says UK Investors are most cautious

11.11.2025

Saxo, the leader in online trading and investment, earlier this week released its inaugural Investor Forecast for Q4 2025, which revealed how UK investors are bucking global optimism, showing the most cautious outlook on equities for Q4 2025, yet leading the world in AI adoption and being second in portfolio diversification.

While global investors remain cautiously optimistic, particularly on US equities, UK respondents were the only group showing negative sentiment across all markets.

Political uncertainty and global instability are weighing on confidence, though older investors remain slightly more upbeat.

Despite their caution, UK investors are the world’s second most proactive diversifiers, with a third planning to explore new regions or asset classes, rising to 42% among younger investors.

They also lead globally in AI adoption, with 71% using tools like ChatGPT or Gemini to support investment decisions.

Globally, modest equity gains are expected, with North America leading and Europe lagging.

Saxo Investor Forecast report:

UK investors buck global optimism but lead the world in AI adoption

• UK investors more cautious than global peers

• UK leads the way in AI adoption

• Diversification remains a priority

• Geopolitical tensions influence investment strategy

• Saxo hits 1.4m clients, driving record €118bn in assets

UK investors are bucking global optimism, showing the most cautious outlook on equities for Q4 2025, yet leading the world in AI adoption and being second in portfolio diversification, according to Saxo, the leader in online trading and investment, and its inaugural Investor Forecast Q4 2025.

The global report* surveyed over 1,800 clients across 11 markets, examining sentiment, diversification trends, geopolitical concerns, and AI adoption in investing.

It highlights striking country-level differences, revealing what’s on investors’ minds across Saxo’s markets: Denmark shows the strongest support for its local stock market, the French are most willing to try new investments, the Dutch rely least on AI in their investment process, and Japanese investors are the most optimistic about the US.

While global investors remain cautiously positive, especially on US equities, UK respondents were the only group to report negative sentiment across all markets: FTSE 100 –0.26, US equities –0.17 and global equities 0.02.

Older investors (61+) showed some positivity, while younger investors (18–45) were the most cautious.

Strategist Comment

Neil Wilson, Investor Strategist at Saxo UK, said: 

“UK investors are entering the final quarter with their guard up.

Political uncertainty and global instability are weighing on sentiment, but we’re seeing a highly adaptive approach to risk management.

What’s particularly striking is how many clients continue to spot opportunities in global markets.

That confidence runs counter to the usual ‘home bias’ towards domestic investments, suggesting that despite the turmoil, optimism in the global economy remains resilient.”

Proactive Diversifiers

Despite caution, UK investors are the world’s second most proactive diversifiers.

A third plan to invest in new regions or asset classes in the next three months (vs. 23% globally), rising to 42% among younger investors.

Geopolitical tensions in the Middle East are a particular focus, with 61% rating them as “very” or “somewhat important” to their investment strategy.

UK investors also lead global adoption of AI in investing, with 71% using tools such as ChatGPT, Gemini, or Claude, rising to 92% among younger investors.

Neil Wilson adds:

“AI has moved from an emerging technology to an established force in the investment ecosystem.

The UK’s proactive adoption highlights how AI is enhancing both the analytical depth of investment research and the efficiency of execution, creating competitive advantages for early movers.”

Globally, cautious optimism persists, with modest expected gains across local (+0.03), US (+0.14), and global (+0.26) equities.

North America remains the top-performing region, while Europe is expected to lag.

About Saxo

Founded in Copenhagen in 1992, Saxo was one of the first financial institutions to develop online trading platforms that offer everyday investors the same tools and market access as professional traders, large institutions, and fund managers.

As the most innovative and best choice for clients, Saxo offers broad access to global capital markets across asset classes, where they can trade more than 71,000 instruments in over 33 languages from one single margin account.

The Saxo Group also powers more than 150 financial institutions as partners by boosting the investment experience they can offer their clients via its open banking technology.

The Saxo Group holds four banking licenses and is well-regulated globally.

What can Saxo see that we can't?

With client assets totalling more than $115bn, Saxo is a global company with local presence, employing more than 2,300 people in financial centres across the world, including London, Singapore, Amsterdam, Zurich, Dubai, Shanghai, Hong Kong and Tokyo.