To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare Darwinex vs Saxo Bank.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Saxo Bank's score is 4.5 stars versus Darwinex's 4 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Darwinex and Saxo Bank both are regulated in a major hub. Neither are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Saxo Bank offers its clients access to 182 different currency pairs while Darwinex has 39 available pairs, a difference of 143.
To round out our comparison of Darwinex vs Saxo Bank, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Darwinex makes Meta Trader available to clients, while Saxo Bank does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Darwinex offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. Darwinex offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 47 available indicators, a difference of 4.
Overall, Saxo Bank takes the upper hand with 4.5 stars over Darwinex's 3.5 stars. And, when it comes to individual category awards, Saxo Bank finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while Darwinex came up with none of these.