Saxo Bank vs City Index Review
After spending seven months and hundreds of hours researching 43 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare City Index 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. Both City Index and Saxo Bank hold a 4.5 star rating.
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. City Index and Saxo Bank both are regulated in a major hub. City Index is a publicly traded company, Saxo Bank isn't. As far as how many currency pairs are available for trading, here's the answer. City Index trails Saxo Bank by 98 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and City Index offering 84.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index 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. City Index offers its clients access to 25 charting tools while Saxo Bank has 17 charting tools, a difference of 8. Saxo Bank trails City Index by 92 total different indicators (for example, moving averages), with City Index offering 139 and Saxo Bank offering 47.
Overall, Saxo Bank boasts 4.5 stars versus City Index's 4 stars. And, when it comes to individual category awards, Saxo Bank was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while City Index was rated none of these.
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. Both City Index and Saxo Bank hold a 4.5 star rating.
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. City Index and Saxo Bank both are regulated in a major hub. City Index is a publicly traded company, Saxo Bank isn't. As far as how many currency pairs are available for trading, here's the answer. City Index trails Saxo Bank by 98 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and City Index offering 84.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. City Index 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. City Index offers its clients access to 25 charting tools while Saxo Bank has 17 charting tools, a difference of 8. Saxo Bank trails City Index by 92 total different indicators (for example, moving averages), with City Index offering 139 and Saxo Bank offering 47.
Overall, Saxo Bank boasts 4.5 stars versus City Index's 4 stars. And, when it comes to individual category awards, Saxo Bank was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while City Index was rated none of these.
% of retail CFD accounts that lose money
Overall
Offering of Investments
Commissions & Fees
Platform & Tools
Customer Service
Research
Mobile Trading
Education
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
Authorised in the European Union
FCA Regulated (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Advantage
All-in Cost EUR/USD - Active
Average Spread EUR/USD - Standard
Active Trader or Premium/VIP
Advantage
Proprietary
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader4 (MT4)
MetaTrader5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Advantage
Virtual Trading (Demo)
Watchlists - Total Fields
Alerts - Basic Fields
Charting - Trade From Chart
Charts can be saved
Charting - Drawing Tools (Total)
Charting - Indicators / Studies (Total)
Charting - Drawings Autosave
Order Type - Trailing Stop
Advantage
Android App
Apple iOS App
Forex News
Alerts - Basic Fields
Alerts Delivery - Push Notifications
Watch List
Watch List Syncing
Charting - Technical Studies/Indicators
Charting - Draw Trend Lines
Advantage
Daily Market Commentary
Forex News (Top-Tier Sources)
AutoChartist
Trading Central (Recognia)
Delkos Research
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Economic News Sentiment
Advantage
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
USDMXN (or MXNUSD)
USDNOK (or NOKUSD)
USDSEK (or SEKUSD)
USDTRY (or TRYUSD)
USDZAR (or ZARUSD)
USDDKK (or DKKUSD)
USDBRL (or BRLUSD)
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Overall
Advantage
Comparing 2 Brokers
Advertiser Disclosure
Advertiser Disclosure
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Saxo Bank
74% of retail CFD accounts lose money.
94
1992
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
182
32999
No
No
check_circle
0.6
0.9
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
No
check_circle
Yes
12
Yes
Yes
Yes
17
47
Yes
Yes
check_circle
Yes
Yes
Yes
Yes
No
Yes
Yes
41
Yes
check_circle
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
$2,000.00
Yes
Yes
No
No
No
check_circle
City Index
73% of retail CFD accounts lose money.
92
1983
Yes
Yes
No
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
84
4500
No
Yes
0.77
0.77
Yes
check_circle
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
Yes
18
Yes
Yes
Yes
25
139
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
7
Yes
Yes
Yes
Yes
Yes
No
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
£100.00
Yes
Yes
No
No
No
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
