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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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 |
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 account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.9 | 0.65 |
| Non-wire bank transfer | 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 let you trade forex as CFDs and as spot contracts, and both offer a wide selection of products. Saxo lists about 70,000 tradeable symbols and 190 forex pairs, while CMC Markets offers 12,029 symbols and 141 forex pairs. Each broker lets you buy real exchange-traded securities on U.S. exchanges (like Apple) and on international exchanges (like Vodafone). Copy trading is available at both. Neither broker lets you buy actual cryptocurrency, but both support cryptocurrency CFDs.
For Range of Investments, both brokers earn 5 stars. In ForexBrokers.com’s rankings out of 63 brokers, Saxo is placed #3 and CMC Markets is #9. If sheer variety is your priority, Saxo’s larger list of symbols and currency pairs gives it the edge, while CMC Markets still offers a deep lineup suitable for most traders.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 12029 |
| Forex Pairs (Total) | 190 | 141 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| 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 deliver high-quality trading platforms and tools. Each offers a free demo (paper trading) account, an in-house proprietary platform, web and Windows desktop platforms, copy trading, and the ability to place orders directly from charts. Both are highly rated at 5 out of 5 stars for platforms and tools, with ForexBrokers.com ranking Saxo #1 out of 63 brokers and CMC Markets #4.
The main difference is third‑party platform support: CMC Markets offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Saxo does not. If you need MT4/MT5 or plan to use Expert Advisors, CMC Markets is the better fit. If you prefer an in-house platform experience backed by the top category ranking, Saxo stands out. Either way, both brokers provide strong chart trading and helpful tools, so your choice comes down to whether MetaTrader compatibility matters to you.
| 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 | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 73 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and CMC Markets both offer polished mobile trading apps for iPhone and Android. Each app supports price alerts for stocks and forex, watchlist syncing between mobile and web, and charting where you can draw trendlines and have your annotations auto-save. Both earned 5 out of 5 stars for Mobile Trading Apps from ForexBrokers.com.
The biggest difference is in chart studies: Saxo provides 64 technical indicators in its mobile charts, while CMC Markets offers 29. That extra range can help traders fine-tune analysis on the go. Reflecting this, ForexBrokers.com ranks Saxo #2 out of 63 brokers for Mobile Trading Apps, compared with CMC Markets at #5. If you want the widest set of indicators, Saxo is the stronger pick; if you’re satisfied with a leaner set of tools and a top-tier experience, CMC Markets remains an excellent choice.
| 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 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo and CMC Markets both score 5 out of 5 stars for education and each offers plenty of beginner-friendly videos—at least 10 focused on getting started—as well as a deep bench of advanced lessons for when you’re ready to level up. That makes either broker a solid pick if you want clear, step-by-step learning you can watch at your own pace.
The main difference is live learning: Saxo runs client webinars at least once a month, while CMC Markets does not. On the flip side, CMC Markets holds a slightly higher position in ForexBrokers.com’s Education rankings (#10 vs. Saxo at #13). If you value live classes and Q&A, Saxo may suit you better; if you prefer a highly rated on-demand catalog, CMC Markets is a strong choice.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Webinars | Yes | No |
| 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 #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
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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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| 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) | Yes | No | |
| Japan (SFC 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 SCA 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) | 70000 | 12029 | |
| Forex Pairs (Total) | 190 | 141 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| 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) - Standard account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.65 | |
| Inactivity Fee | Yes | 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 | No | Yes |
| Trading Platforms | Saxo | CMC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| 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 | 73 | |
| 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 | 29 | |
| 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 | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | CMC Markets | |
|---|---|---|---|
| Webinars | Yes | No | |
| 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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