After spending seven months and hundreds of hours researching 20 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 5,000 data points. For this review, we will compare AvaTrade vs Saxo Bank.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Saxo Bank's score is 4.50 stars versus AvaTrade's 3.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. AvaTrade and Saxo Bank both are regulated in a major hub. Neither are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Saxo Bank boasts an offering of 145 different currency pairs compared to AvaTrade's 59 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. AvaTrade has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. AvaTrade boasts an offering of 31 charting tools compared to Saxo Bank's 16 available charting tools. Both AvaTrade and Saxo Bank provide clients with access to 51 total indicators (eg, moving averages).
Overall, Saxo Bank comes out on top with 4.50 stars over AvaTrade's 3.50 stars. And, when it comes to individual category awards, Saxo Bank posted awards 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 2017, while AvaTrade found itself with none of these.