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Saxo Bank vs Dukascopy 2019

ForexBrokers.com

Is Dukascopy better than Saxo Bank? After grading forex brokers on nearly 100 different variables, Saxo Bank is better than Dukascopy. Traders seeking a large selection of instruments and asset classes across global financial markets will not be disappointed with the range of premium services Saxo Bank offers, including research, active trader pricing, and wealth management services that cater to investors’ needs. Saxo Bank was our #1 broker in multiple categories in 2019.

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 Saxo Bank Dukascopy
Overall 4.5 4
Saxo Bank Review Dukascopy Review
69% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Saxo Bank Dukascopy
Trust Score 98 84
Year Founded
1992 2004
Publicly Traded (Listed)
No No
Bank
Yes Yes
Tier-1 Licenses
6 2
Tier-2 Licenses
1 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Tier-2 Licenses

Feature Saxo Bank Dukascopy
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
Yes No

Tier-3 Licenses

Feature Saxo Bank Dukascopy
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature Saxo Bank Dukascopy
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 64
CFDs - Total Offered
32999 357
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No No
Offering of Investments 4.5 3.5
Winner check_circle

Cost

Feature Saxo Bank Dukascopy
Average Spread EUR/USD - Standard
0.9 (as of Sep 18) 1.02 (as of Q4 18)
All-in Cost EUR/USD - Active
0.6 (as of Jun 17) 0.42 (as of Q4 18)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4.5 4.5
Winner check_circle

Funding

Feature Saxo Bank Dukascopy
Minimum Initial Deposit
$2,000.00 $100.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature Saxo Bank Dukascopy
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

Trading Tools

Feature Saxo Bank Dukascopy
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
47 51
Charting - Drawing Tools (Total)
17 31
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 Saxo Bank Dukascopy
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 No
Charting - Indicators / Studies
41 30
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 4.5 4.5
Winner check_circle

Research

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

Education

Feature Saxo Bank Dukascopy
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
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 No
Tutorials/Guide (PDF or Interactive)
Yes Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature Saxo Bank Dukascopy
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
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature Saxo Bank Dukascopy
Saxo Bank Review Dukascopy Review
Overall 4.5 4
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare Dukascopy 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. Both Dukascopy and Saxo Bank hold a 4.50 star rating.

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. Both Dukascopy and Saxo Bank are regulated in a major hub. Neither Dukascopy and Saxo Bank are publicly traded companies. How many currency pairs are available to trade? Dukascopy trails Saxo Bank by 118 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and Dukascopy offering 64.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Dukascopy makes Meta Trader available to clients, while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Dukascopy offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. Dukascopy boasts an offering of 51 different indicators (for example, moving averages) compared to Saxo Bank's 47 available indicators.

Dukascopy Review
Saxo Bank Review


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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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