Written by ForexBrokers.com
In this head to head comparison of Saxo vs CMC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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When considering online brokers, Saxo and CMC Markets both hold the highest Trust Score of 99 according to ForexBrokers.com, signaling a very high level of trust for traders. Saxo, founded in 1992, operates as a bank but is not publicly traded. In contrast, CMC Markets, established a few years earlier in 1989, is a publicly traded company, though it does not operate as a bank. Both brokers are well-regulated; Saxo boasts 7 Tier-1 licenses, while CMC Markets holds 6, reflecting a solid regulatory standing for both.
In addition to their Tier-1 credentials, each broker holds 1 Tier-2 license, further enhancing their credibility. This shared trustworthiness sets Saxo and CMC Markets apart as reliable choices for traders. While each has its own corporate structure—Saxo as a privately held bank and CMC Markets as a publicly traded entity—their high trust scores and licensing credentials make them leading options in the online trading environment.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Year Founded | 1992 | 1989 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 6 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Saxo and CMC Markets both earn 5 stars for commissions and fees, but CMC Markets ranks slightly higher overall at #4 out of 36 brokers, compared with Saxo at #8 out of 36 brokers. Saxo offers very good pricing for active and high-volume traders, especially on its Platinum and VIP accounts, while its Classic account is a bit pricier than the best deals in the market. As of November 2023, Saxo’s average EUR/USD spreads were 1.1 pips for Classic, 1.0 pips for Platinum, and 0.9 pips for VIP, and its forex trading is generally commission-free, aside from a $3 per-side ticket fee for traders who do less than 50,000 units per month.
CMC Markets stands out for keeping trading costs low across its account types and for winning #1 in the Commissions and Fees category in 2025. Its typical EUR/USD spread was 0.61 pips in August 2023, which is below the industry average, and its FX Active pricing can lower the all-in cost to about 0.5 pips on EUR/USD with a $2.50 per-side commission and zero-pip minimum spreads. CMC also offers its Price Plus Scheme, which gives traders spread discounts based on monthly volume and Trading Points.
In simple terms, Saxo is a strong choice for traders who can qualify for better account tiers and want lower costs as their balances and activity grow, while CMC Markets is the better pick for consistently low fees across a wider range of customers. Saxo may also waive custody fees on share trading for users who opt into securities lending, but CMC’s pricing edge is more visible day to day, especially for forex traders looking for tight spreads and clear commission-based options.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | N/A | 1.15 |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and CMC Markets both give traders access to forex, stock investing, and cryptocurrency CFDs, but Saxo stands out for the sheer size of its product list. Saxo offers about 71,000 tradeable symbols, compared with 21,710 at CMC Markets, which gives Saxo a much wider overall selection. Saxo also offers 192 forex pairs, while CMC Markets offers 303, so CMC has the edge for forex variety even though both support forex trading as either a CFD or spot contract.
When it comes to shares, both brokers let clients buy real, exchange-traded securities on U.S. and international markets, not just CFDs. Neither broker offers copy trading or the option to buy actual delivered cryptocurrency, but both do provide cryptocurrency CFDs. Overall, both brokers are rated 5 stars for Range of Investments, though Saxo is ranked higher by ForexBrokers.com in this category at #3 out of 36 brokers, compared with CMC Markets at #9.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 21710 |
| Forex Pairs (Total) | 192 | 303 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Saxo and CMC Markets both give traders a strong choice of platforms and tools. Each broker offers a free demo account for simulated trading, along with its own proprietary platform, a Windows desktop download, and a web-based platform. Both also let you place trades directly from a chart, which can make it easier to act quickly when you spot a setup. In addition, Saxo and CMC Markets each earn 5 out of 5 stars for Trading Platforms and Tools.
The key difference is support for MetaTrader: CMC Markets offers both MT4 and MT5, while Saxo does not. Neither broker offers copy trading. For traders comparing overall platform quality, Saxo is ranked #3 out of 36 brokers by ForexBrokers.com in the Trading Platforms and Tools category, while CMC Markets is ranked #6, giving Saxo a slight edge in this area even though both brokers score highly.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 65 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and CMC Markets both deliver strong mobile trading apps for iPhone and Android users, and each app includes key tools like stock and forex price alerts, watchlist syncing, trendline drawing, and automatic saving of chart drawings. Both brokers are also rated 5 out of 5 stars for mobile trading apps, showing that each platform offers a high-quality experience for traders who want to manage positions on the go.
Where Saxo pulls ahead is in charting depth. Its mobile app offers 64 technical studies, compared with 30 at CMC Markets, which may give more active traders a wider set of analysis options. That extra charting range helps explain why Saxo is ranked #3 out of 36 brokers for mobile trading apps by ForexBrokers.com, while CMC Markets is ranked #5.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and CMC Markets both deliver strong market research for traders, with daily market commentary, forex news from top names such as Bloomberg and Reuters, Autochartist tools, and an economic calendar that tracks upcoming global events. Both brokers are also rated 5 out of 5 stars for research, which makes each a strong choice for traders who want regular updates and helpful market insight.
The main difference is that CMC Markets adds a sentiment tool that shows the balance of long and short positions across markets, while Saxo does not. Saxo, however, holds the top spot in ForexBrokers.com’s research ranking at #1 out of 36 brokers, compared with CMC Markets at #6. Neither broker offers Trading Central, TipRanks, or Acuity Trading research tools.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for trading education, both Saxo and CMC Markets offer a wide range of learning tools. Each broker provides forex and CFD education with at least 10 pieces of content focused on those topics, along with monthly online client webinars and plenty of beginner videos to help new traders get started. Both also go beyond the basics by offering at least 10 advanced videos for more experienced users, making each platform useful for learners at different stages.
In terms of overall education quality, both brokers are rated 5 stars. Still, CMC Markets edges ahead slightly in the ForexBrokers.com Education ranking, placing #10 out of 36 brokers, compared with Saxo at #12. For a beginner choosing between them, the difference is small, since both appear to give strong support, clear learning content, and regular webinars designed to help traders build confidence.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than CMC Markets. Saxo finished with an overall rank of #3, while CMC Markets finished with an overall rank of #5.
Saxo is a multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In the Saxo vs CMC Markets comparison of online brokers, neither supports buying actual (delivered) cryptocurrency, but both let you trade cryptocurrency CFDs.
Saxo vs CMC Markets: For funding and withdrawals, CMC Markets supports ACH/SEPA, PayPal, and bank wire transfers, while Saxo offers bank wires only and does not support ACH/SEPA or PayPal; neither broker supports Skrill, and Visa/Mastercard availability was not specified.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | CMC Markets Review |
| Broker Screenshots | Saxo | CMC Markets | |
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| Broker Gallery (click to expand) |
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| Regulation | Saxo | CMC Markets | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1989 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 6 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | CMC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | CMC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 21710 | |
| Forex Pairs (Total) | 192 | 303 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo | CMC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 1.15 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| Trading Platforms | Saxo | CMC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 65 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | CMC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | CMC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | CMC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | CMC Markets Review |
| Overall | Saxo | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | CMC Markets Review |
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