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Saxo Bank vs eToro 2019

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.
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 eToro
Overall 4.5 4
Saxo Bank Review eToro Review
69% of retail CFD accounts lose money 75% of retail CFD accounts lose money

Regulation

Feature Saxo Bank eToro
Trust Score 98 88
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

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

Investments

Feature Saxo Bank eToro
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 47
CFDs - Total Offered
35000 1980
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 4
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Cost

Feature Saxo Bank eToro
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 3 (as of May 19)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4.5 3.5
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Funding

Feature Saxo Bank eToro
Minimum Initial Deposit
$10,000.00 $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)
No No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature Saxo Bank eToro
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 6
Charting - Indicators / Studies (Total)
55 66
Charting - Drawing Tools (Total)
19 13
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4
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Mobile Trading

Feature Saxo Bank eToro
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
41 5
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 4
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Research

Feature Saxo Bank eToro
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 3
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Education

Feature Saxo Bank eToro
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 4
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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
Saxo Bank Review eToro Review
Overall 4.5 4
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To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare eToro 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'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.

eToro 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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