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CMC Markets vs Saxo Bank 2020

Is CMC Markets better than Saxo Bank? After assessing the best forex brokers on nearly 100 different variables, Saxo Bank is better than CMC Markets. For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature CMC Markets Saxo Bank
Overall 4.5 4.5
CMC Markets Review Saxo Bank Review
70.5% of retail CFD accounts lose money 72% of retail CFD accounts lose money

Regulation

Feature CMC Markets Saxo Bank
Trust Score 99 98
Year Founded
1989 1992
Publicly Traded (Listed)
Yes No
Bank
No Yes
Tier-1 Licenses
4 6
Tier-2 Licenses
2 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature CMC Markets Saxo Bank
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No Yes
FSA Authorised (Japan)
No Yes
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
No Yes
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature CMC Markets Saxo Bank
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
180 182
CFDs - Total Offered
9848 35000
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes No
Offering of Investments 4 4.5
Winner check_circle

Cost

Feature CMC Markets Saxo Bank
Average Spread EUR/USD - Standard
0.81 (as of Oct 19) 0.6 (as of Sep 19)
All-in Cost EUR/USD - Active
0.81 (as of Oct 19) 0.6 (as of Sep 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 5 4.5
Winner check_circle

Funding

Feature CMC Markets Saxo Bank
Minimum Initial Deposit
$0.00 $10,000.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature CMC Markets Saxo Bank
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature CMC Markets Saxo Bank
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
8 12
Charting - Indicators / Studies (Total)
79 55
Charting - Drawing Tools (Total)
24 19
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4.5
Winner check_circle

Mobile Trading

Feature CMC Markets Saxo Bank
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
23 41
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes
Mobile Trading 4 4.5
Winner check_circle

Research

Feature CMC Markets Saxo Bank
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
No Yes
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 4.5
Winner check_circle

Education

Feature CMC Markets Saxo Bank
Has Education - Forex
Yes Yes
Has Education - 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
Education 4.5 4
Winner check_circle

Major Forex Pairs

Feature CMC Markets Saxo Bank
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

Overall

Feature CMC Markets Saxo Bank
CMC Markets Review Saxo Bank Review
Overall 4.5 4.5
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare CMC Markets vs Saxo Bank.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. CMC Markets received a rating of 5.00 stars over Saxo Bank's 4.50 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. CMC Markets alongside Saxo Bank are regulated in a major hub. CMC Markets is a publicly traded company, Saxo Bank isn't. As far as how many currency pairs are available for trading, here's the answer. CMC Markets trails Saxo Bank by 2 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and CMC Markets offering 180.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. CMC Markets makes Meta Trader available to clients, while Saxo Bank does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. CMC Markets boasts an offering of 24 charting tools compared to Saxo Bank's 19 available charting tools. Saxo Bank trails CMC Markets by 24 total different indicators (for example, moving averages), with CMC Markets offering 79 and Saxo Bank offering 55.

CMC Markets Review
Saxo Bank Review


Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/15/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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