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Saxo Bank vs eToro 2021

Is eToro better than Saxo Bank? In our analysis of 23 international regulators across 50 brokers, eToro is considered low-risk, with an overall Trust Score of 93 out of 99. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.


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.

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Overall Rating

Feature Saxo Bank eToro
Overall 5 4
Commissions & Fees 5 4
Offering of Investments 5 4.5
Platforms & Tools 5 4
Mobile Trading 5 4
Research 5 4
Education 4 4
Trust Score 99 92
Saxo Bank Review eToro Review
64% of retail CFD accounts lose money 67% of retail CFD accounts lose money

Regulation

Feature Saxo Bank eToro
Trust Score 99 92
Year Founded
1992 2007
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 2
Tier-2 Licenses
1 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

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

Tier-2 Licenses (Average Trust)

Feature Saxo Bank eToro
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes Yes
CBI Authorised (Ireland)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature Saxo Bank eToro
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No

Investments

Feature Saxo Bank eToro
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
9000 3056
Forex Pairs (Total)
170 47
US Stock Trading (Non CFD)
Yes Yes
Int'l Stock Trading (Non CFD)
Yes Yes
Cryptocurrency (Physical)
No Yes
Cryptocurrency (CFD)
Yes Yes
Social Trading / Copy-Trading
Yes Yes

Cost

Feature Saxo Bank eToro
Average Spread EUR/USD - Standard
0.8 (August 2020) 1 (August 2021)
All-in Cost EUR/USD - Active
0.6 (August 2020) N/A
Active Trader or VIP Discounts
Yes Yes
Execution: Agency Broker
Yes Yes
Execution: Market Maker
Yes Yes

Funding

Feature Saxo Bank eToro
Minimum Deposit
$10,000.00 $50-$200
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Saxo Bank eToro
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes No
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
No No
cTrader
No No
DupliTrade
No No
ZuluTrade
No No

Trading Tools

Feature Saxo Bank eToro
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
58 6
Charting - Indicators / Studies (Total)
58 66
Charting - Drawing Tools (Total)
19 13
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature Saxo Bank eToro
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
58 5
Charting - Draw Trendlines
Yes No
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No

Research

Feature Saxo Bank eToro
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
No No
Autochartist
Yes No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Saxo Bank eToro
Has Education - Forex or CFDs
Yes Yes
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 Yes

Major Forex Pairs

Feature Saxo Bank eToro
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

Overall

Feature Saxo Bank eToro
Overall 5 4
Commissions & Fees 5 4
Offering of Investments 5 4.5
Platforms & Tools 5 4
Mobile Trading 5 4
Research 5 4
Education 4 4
Trust Score 99 92
Saxo Bank Review eToro Review

Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs Saxo Bank.

Does eToro or Saxo Bank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.

Is eToro or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while eToro holds 2. Both eToro and Saxo Bank hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than eToro.

Which trading platform is better: eToro or Saxo Bank?
To compare the trading platforms of both eToro and Saxo Bank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. eToro and Saxo Bank both offer copy trading. Saxo Bank offers MetaTrader 4 (MT4), while eToro does not.

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 170 currency pairs (e.g., EUR/USD) compared to eToro's 47 available pairs. Forex pairs aside, Saxo Bank offers traders access to 9000 CFDs while eToro has 3056 available CFDs, a difference of 5,944.

Can I trust eToro?
eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).

Can I trust Saxo Bank?
Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

Is eToro good?
eToro is a winner for its easy-to-use copy-trading platform where traders can copy the trades of investors across over 2300 instruments, including exchange-traded securities, forex, CFDs, and popular cryptocurrencies.

Is Saxo Bank good?
For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.

Overall winner: Saxo Bank

Read Next: Best Forex Brokers 2021


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Trading CFDs, FX, and cryptocurrencies involve 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 website as of 12/14/2020 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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eToro - 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

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