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 | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.9 | 0.65 |
| 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.
Saxo and CMC Markets both cater to traders interested in a broad array of investment opportunities, each offering forex trading as a CFD or spot contract. Saxo stands out with an impressive 70,000 tradable symbols, significantly more than CMC Markets' 12,029. In the realm of forex, Saxo also takes the lead with 190 tradable pairs compared to CMC Markets' 141. Investors looking to diversify with exchange-traded securities will find options from U.S. and international exchanges on both platforms, allowing for purchases like Apple shares from NASDAQ and Vodafone shares from the London Stock Exchange.
Both Saxo and CMC Markets support copy trading as well, adding an extra layer of convenience for those who prefer to mirror experienced traders. However, neither platform offers the ability to buy actual cryptocurrencies, focusing instead on cryptocurrency derivatives. While both platforms boast a strong rating of 5 stars for their range of investments, ForexBrokers.com ranks Saxo at #3 and CMC Markets at #9 out of 63 brokers, underscoring Saxo's exceptional offerings in this category.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 12029 |
| Forex Pairs (Total) | 190 | 141 |
| 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.
When comparing the trading platforms and tools offered by Saxo and CMC Markets, both brokers present impressive feature sets that cater to both beginners and experienced traders. Each broker provides a proprietary trading platform with desktop download options for Windows, web-based access, and simulated trading via free virtual demo accounts. While both brokers support copy trading, only CMC Markets offers access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, broadening its appeal to traders who rely on these industry-standard tools. However, neither Saxo nor CMC Markets offers DupliTrade or ZuluTrade for those interested in third-party social trading options.
Charting tools are comprehensive with both brokers, enabling users to trade directly from stock charts, although users of CMC Markets benefit from a more extensive range of charting tools, offering 36 drawing tools compared to Saxo’s 20. Saxo users, however, enjoy a more detailed watch list experience, with 60 customizable columns, vastly surpassing CMC Markets’ 11. In terms of recognition, Saxo stands out with a first-place ranking by ForexBrokers.com in the Trading Platforms and Tools category out of 63 brokers, with a perfect rating of five stars, while CMC Markets isn’t far behind, holding fourth place with the same five-star accolade.
| 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 | 73 |
| Charting - Drawing Tools (Total) | 20 | 36 |
| 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 | 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/Central Bank 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. 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 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.65 | |
| 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 | 73 | |
| Charting - Drawing Tools (Total) | 20 | 36 | |
| 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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