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Saxo Bank vs CMC Markets 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than CMC Markets? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. CMC Markets is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankCMC Markets
Overall Rating 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score 99 99
Winner check_circle
Review Saxo Bank Review CMC Markets Review
RegulationSaxo BankCMC Markets
Trust Score 99 99
Year Founded 1992 1989
Publicly Traded (Listed) No Yes
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 5
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Saxo BankCMC Markets
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No Yes
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No Yes
Tier-2 Licenses (Average Trust)Saxo BankCMC Markets
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No No
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes Yes
Tier-3 Licenses (Low Trust)Saxo BankCMC Markets
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsSaxo BankCMC Markets
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 12377
Forex Pairs (Total) 190 158
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 (CFD) 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).
CostSaxo BankCMC Markets
Average Spread EUR/USD - Standard 0.9 (September 2022) 0.51 (August 2022)
All-in Cost EUR/USD - Active 0.7 (September 2022) 0.51 (August 2022)
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankCMC Markets
Minimum Initial Deposit โ‚ฌ2,000 $0
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No No
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankCMC 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 No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsSaxo BankCMC Markets
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 9
Charting - Indicators / Studies (Total) 62 84
Charting - Drawing Tools (Total) 20 40
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankCMC 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 62 29
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankCMC Markets
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) No Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationSaxo BankCMC Markets
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsSaxo BankCMC 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 Bank Review CMC Markets Review
OverallSaxo BankCMC Markets
Overall Rating 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score 99 99
Winner check_circle
Review Saxo Bank Review CMC Markets Review
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Saxo Bank vs CMC Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs CMC Markets.

Does Saxo Bank or CMC Markets offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, CMC Markets offers better pricing overall for traders.

Is Saxo Bank or CMC Markets safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while CMC Markets holds 5. Both Saxo Bank and CMC Markets hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank and CMC Markets earned the same Trust Score.

Which trading platform is better: Saxo Bank or CMC Markets?

To compare the trading platforms of both Saxo Bank and CMC Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Saxo Bank and CMC Markets both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to CMC Markets's 158 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while CMC Markets has 12377 available CFDs, a difference of 47623.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

Can I trust CMC Markets?

CMC Markets is publicly traded, does not operate a bank, and is authorised by five tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). CMC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

Is Saxo Bank good?

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience โ€“ as well as a stunning selection of over 40,000 securities.

Is CMC Markets good?

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

Overall winner: Saxo Bank

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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