Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare CMC Markets vs Saxo Bank.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed 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.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. CMC Markets and Saxo Bank both are regulated in a major hub. CMC Markets is a publicly traded company, while Saxo Bank is not. How many currency pairs are available to trade? CMC Markets offers its clients access to 183 different currency pairs while Saxo Bank has 139 available pairs, a difference of 44.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Neither CMC Markets and Saxo Bank offer Meta Trader. Within the trading platform, charting should be robust, so 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 17 available charting tools. CMC Markets offers its clients access to 74 different indicators (for example, volume) while Saxo Bank has 45 available indicators, a difference of 29.
Overall, Saxo Bank boasts 5.00 stars versus CMC Markets's 4.50 stars. And, when it comes to individual category awards, Saxo Bank posted awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while CMC Markets found itself with Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading.