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 is a better option with a 4.50 star rating over Darwinex's 3.50 star rating.
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 alongside Saxo Bank are regulated in a major hub. Darwinex nor Saxo Bank 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 40 available pairs, a difference of 142.
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 boasts an offering of 31 charting tools compared to Saxo Bank's 17 available charting tools. Darwinex offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 45 available indicators, a difference of 6.
Overall, Saxo Bank comes out on top with 5.00 stars over Darwinex's 3.50 stars. And, when it comes to individual category awards, Saxo Bank was rated 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 Darwinex was rated none of these.