Saxo Bank vs eToro Review
Is eToro better than Saxo Bank? After scoring forex brokers on nearly 100 different variables, Saxo Bank is better than eToro. 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.
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 4.50 stars versus eToro's 3.50 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. eToro and Saxo Bank both are regulated in a major hub. Neither eToro and Saxo Bank are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. eToro trails Saxo Bank by 135 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and eToro offering 47.
To round out our comparison of eToro 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. Neither eToro and Saxo Bank offer Meta Trader. 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. eToro trails Saxo Bank by 3 total charting tools, with Saxo Bank offering 17 and eToro offering 14. eToro offers its clients access to 67 different indicators (for example, volume) while Saxo Bank has 47 available indicators, a difference of 20.
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.