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 easyMarkets 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. Saxo Bank received a rating of 4.50 stars over easyMarkets's 3.00 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. easyMarkets and Saxo Bank both are regulated in a major hub. Neither easyMarkets and Saxo Bank are publicly traded companies. How many currency pairs are available to trade? Saxo Bank boasts an offering of 182 different currency pairs compared to easyMarkets's 97 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. easyMarkets has Meta Trader, Saxo Bank doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Saxo Bank trails easyMarkets by 14 total charting tools, with easyMarkets offering 31 and Saxo Bank offering 17. Saxo Bank trails easyMarkets by 4 total different indicators (for example, moving averages), with easyMarkets offering 51 and Saxo Bank offering 47.
Overall, Saxo Bank takes the upper hand with 4.50 stars over easyMarkets's 4.00 stars. And, when it comes to individual category awards, Saxo Bank was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while easyMarkets was rated none of these.