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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Saxo and CMC Markets are both strong players in the online brokerage sphere, but they have distinct characteristics that set them apart. Founding years show their long-standing presence in the industry, with Saxo established in 1992 and CMC Markets in 1989. A key difference lies in their business structure: Saxo, which operates as a bank, is privately held, whereas CMC Markets is publicly traded. These factors contribute to their respective approaches to handling investments and customer relations.
When it comes to regulatory standing, both Saxo and CMC Markets are highly trusted, each achieving a stellar Trust Score of 99 from ForexBrokers.com. Saxo holds seven Tier-1 licenses, a nod to its strong regulatory compliance, while CMC Markets possesses five. Both firms maintain a single Tier-2 license, reflecting their commitment to delivering secure trading environments. Despite these differences, both brokers offer a level of trust and reliability that places them among the top choices for online trading enthusiasts.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Year Founded | 1992 | 1989 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When it comes to commissions and fees, Saxo and CMC Markets both offer top-notch options for traders, though they have different strengths. Saxo, which is rated 5 stars, ranks #9 out of 63 brokers for commissions and fees. It provides some of the lowest pricing in the industry, especially beneficial for active and high-volume traders. Saxo’s average spreads for the EUR/USD pair are 1.1, 1.0, and 0.9 pips for Classic, Platinum, and VIP accounts, respectively, with the Platinum and VIP being closer to industry averages. Notably, Saxo waives custody fees for traders in securities lending. Its Classic account now requires no minimum deposit, opening doors for more traders, whereas its Platinum and VIP accounts have higher thresholds of $200,000 and $1,000,000, respectively, but offer better pricing and exclusive perks.
Meanwhile, CMC Markets outshines many competitors by ranking #1 in the commissions and fees category, also earning a 5-star rating. Known for its competitive spreads, CMC Markets typically offers average spreads of 0.61 pips on the EUR/USD. Its Price Plus Scheme rewards active traders with discounts based on Trading Points earned through trading volume, while the FX Active pricing structure introduced a commission-based model with zero minimum spreads, ensuring an all-in cost of about 0.5 pips on certain trades. This setup positions CMC Markets as a consistent leader in providing affordable trading options.
Overall, Saxo and CMC Markets cater to different types of traders. Saxo is ideal for those who can maintain larger account balances and wish to benefit from reduced pricing on higher-tier accounts and securities lending. In contrast, CMC Markets is superb for traders seeking low spreads without facing high entry barriers, with multiple programs rewarding trading volume and offering cost-effective options that include both spread-only and commission-based models.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 0.61 |
| All-in Cost EUR/USD - Active | 0.9 | 0.51 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to a diverse range of investment options, both Saxo and CMC Markets offer extensive choices, making them top contenders in the world of online trading. Saxo stands out with an impressive array of 70,000 tradeable symbols, including 190 forex pairs, while CMC Markets provides 11,925 tradeable symbols and 156 forex pairs. Both brokers enable clients to trade forex as CFDs or spot contracts. Furthermore, Saxo and CMC Markets allow investment in exchange-traded securities on both U.S. and international exchanges, offering opportunities to trade shares like Apple and Vodafone.
Both Saxo and CMC Markets cater to modern investors by supporting copy trading and offering cryptocurrency derivatives, though neither facilitates purchasing actual cryptocurrencies. Achieving five-star ratings for their range of investments, they have distinguished themselves in the market. However, Saxo takes the lead in ranking, positioned at #3 among 63 brokers, while CMC Markets is not far behind at #9, according to ForexBrokers.com. This emphasizes Saxo's slightly broader reach and reputation in investment diversity.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 11925 |
| Forex Pairs (Total) | 190 | 156 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
Both Saxo and CMC Markets provide an impressive range of trading platforms and tools to cater to different trading styles. Saxo offers a proprietary platform for Windows and web, allowing traders to explore all available options, including a demo account for simulated trading. CMC Markets, similarly, offers proprietary platforms that can be accessed via Windows or the web, also supporting paper trading. While both brokers support copy trading, CMC Markets further expands its platform offering with support for MetaTrader 4 and 5, which Saxo does not provide.
When it comes to charting tools, CMC Markets offers a broader selection with 40 drawing tools, compared to Saxo's 20. Both brokers allow direct trading from stock charts, accommodating real-time strategy execution. However, Saxo stands out with an extensive watch list capability, offering up to 60 fields compared to CMC's 11. Despite these differences, both brokers have been highly rated for their trading platforms and tools, achieving a perfect score of 5 stars each. Saxo is ranked #1 by ForexBrokers.com, whereas CMC Markets holds a respectable fourth position among 63 brokers.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 79 |
| Charting - Drawing Tools (Total) | 20 | 40 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to choosing between Saxo and CMC Markets for mobile trading apps, both brokers provide excellent options for traders on the go. Available for both iPhone and Android, these apps ensure seamless access to the financial markets. Key features like stock and forex price alerts, watchlist symbol syncing, and the ability to draw trendlines and view multiple time frames are supported by both. Additionally, they allow the creation of watchlists with real-time quotes, enhancing the user experience for trading enthusiasts looking to stay updated with market movements.
Saxo stands out with an impressive 64 technical studies available for charting within its mobile app, while CMC Markets offers 29. This could be a deciding factor for charting enthusiasts looking for extensive technical analysis tools. Both apps auto-save drawings on charts, ensuring no work is lost during analysis. Rated five stars for mobile trading apps, Saxo and CMC Markets are highly regarded, with Saxo ranked #2 and CMC Markets #5 out of 63 brokers by ForexBrokers.com. Whether you choose Saxo or CMC Markets, you'll find a reliable and user-friendly mobile trading experience that caters to your trading needs.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Saxo and CMC Markets for their market research offerings, both brokers deliver extensive resources that cater to the needs of traders. Saxo and CMC Markets provide daily market commentary, ensuring you stay updated with the latest insights. In terms of forex news, both platforms source their information from top-tier providers like Bloomberg and Reuters. Additionally, both brokers integrate tools from Autochartist, assisting traders with technical and fundamental analysis. A sentiment-based trading tool is also available on both platforms, helping traders gauge market positions across various instruments. However, neither Saxo nor CMC Markets includes tools from Trading Central or Acuity Trading, and neither offers market research from TipRanks.
Saxo and CMC Markets both feature economic calendars that highlight important global economic events. Despite these similarities, Saxo edges out in terms of overall research excellence. Rated five stars for research, just like CMC Markets, Saxo holds the top rank among 63 brokers according to ForexBrokers.com, while CMC Markets comes in at the sixth position. This indicates that while both brokers provide solid research tools and resources, Saxo stands out for its comprehensive array of features and superior ranking in the research category.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Saxo and CMC Markets in terms of educational resources for beginners, both platforms provide a rich variety tailored to enhance forex and CFDs learning. Saxo and CMC Markets offer over 10 educational materials, including articles and videos focused on these subjects. Additionally, both brokers have extensive video content for beginners. They each have over 10 videos that cover essential trading concepts in a beginner-friendly manner. For those looking to deepen their understanding, both platforms continue to support learning with advanced educational videos. An investor dictionary with over 50 terms is also available from both services, making complex financial jargon more accessible.
Saxo stands out by offering regular monthly webinars that provide interactive learning experiences, a feature that CMC Markets lacks. However, both brokers make past webinars available through their searchable archives, allowing learners to access valuable resources anytime. Although both Saxo and CMC Markets are rated highly at 5 stars for education, CMC Markets holds a slightly better rank, positioned at #10 compared to Saxo's #13 in the Education category by ForexBrokers.com. This makes both platforms excellent options for beginners eager to expand their trading knowledge, with Saxo offering additional live learning opportunities through webinars.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | 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 #4.
Saxo is an exclusive 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
|
CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Saxo and CMC Markets do not provide options for purchasing actual (delivered) cryptocurrencies, but they do offer the capability to buy cryptocurrency derivatives.
When comparing online brokers, Saxo does not support ACH or SEPA transfers, PayPal, or Skrill for depositing or withdrawing account funds, whereas CMC Markets provides ACH or SEPA and PayPal options, but neither supports Skrill, with both offering Visa, Mastercard, and bank wire transfers.
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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| 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 | 5 | |
| 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) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 11925 | |
| Forex Pairs (Total) | 190 | 156 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 - Standard | 1.1 | 0.61 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.51 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | CMC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 11 | |
| Charting - Indicators / Studies (Total) | 64 | 79 | |
| Charting - Drawing Tools (Total) | 20 | 40 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 29 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | CMC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | CMC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| 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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