Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Alpari vs Saxo Bank.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Saxo Bank received a rating of 4.50 stars over Alpari's 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Saxo Bank is regulated in a major hub, while Alpari is not. Neither Alpari and Saxo Bank are publicly traded companies. How many currency pairs are available to trade? Alpari trails Saxo Bank by 134 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and Alpari offering 48.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Alpari offers Meta Trader while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Alpari boasts an offering of 31 charting tools compared to Saxo Bank's 17 available charting tools. Saxo Bank trails Alpari by 6 total different indicators (for example, moving averages), with Alpari offering 51 and Saxo Bank offering 45.
Overall, Saxo Bank boasts 5.00 stars versus Alpari's 3.50 stars. And, when it comes to individual category awards, Saxo Bank was rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while Alpari was rated none of these.