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Saxo Bank vs Fineco 2021

Is Fineco better than Saxo Bank? In our analysis of 23 international regulators across 39 brokers, 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.

Overall Rating

Feature Saxo Bank Fineco
Overall 5 4
Commissions & Fees 4.5 3.5
Offering of Investments 5 4.5
Platforms & Tools 5 4
Mobile Trading Apps 5 3.5
Research 5 4
Education 4 3.5
Trust Score 99 88
Saxo Bank Review Fineco Review
64% of retail CFD accounts lose money 65.11% of retail CFD accounts lose money
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Regulation

Feature Saxo Bank Fineco
Trust Score 99 88
Year Founded
1992 1999
Publicly Traded (Listed)
No Yes
Bank
Yes Yes
Tier-1 Licenses
6 1
Tier-2 Licenses
1 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature Saxo Bank Fineco
ASIC Authorised (Australia)
Yes No
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 Fineco
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
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)
No No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature Saxo Bank Fineco
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 Fineco
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
40000 126
Forex Pairs (Total)
182 54
US Stock Trading (Non CFD)
Yes Yes
Int'l Stock Trading (Non CFD)
Yes Yes
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes No
Social Trading / Copy-Trading
Yes No

Cost

Feature Saxo Bank Fineco
Average Spread EUR/USD - Standard
0.8 (August 2020) N/A
All-in Cost EUR/USD - Active
0.6 (August 2020) N/A
Active Trader or VIP Discounts
Yes No
Execution: Agency Broker
Yes No
Execution: Market Maker
Yes No

Funding

Feature Saxo Bank Fineco
Minimum Deposit
$2,000.00 $0
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 Fineco
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes No
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
No No
cTrader
No No
DupliTrade
No No
ZuluTrade
No No

Trading Tools

Feature Saxo Bank Fineco
Virtual Trading (Demo)
Yes No
Alerts - Basic Fields
Yes No
Watchlists - Total Fields
62
Charting - Indicators / Studies (Total)
62 90
Charting - Drawing Tools (Total)
20 N/A
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes No

Mobile Trading

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

Research

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

Education

Feature Saxo Bank Fineco
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 Fineco
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 Fineco
Overall 5 4
Commissions & Fees 4.5 3.5
Offering of Investments 5 4.5
Platforms & Tools 5 4
Mobile Trading Apps 5 3.5
Research 5 4
Education 4 3.5
Trust Score 99 88
Saxo Bank Review Fineco Review

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Fineco vs Saxo Bank.

Does Fineco 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 Fineco or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while Fineco holds 1. Saxo Bank holds 1 global Tier-2 licenses, while Fineco holds 0. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than Fineco.

Which trading platform is better: Fineco or Saxo Bank?
To compare the trading platforms of both Fineco 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. While Saxo Bank offers copy trading, Fineco does not. Saxo Bank offers MetaTrader 4 (MT4), while Fineco does not.

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to Fineco's 54 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while Fineco has 126 available CFDs, a difference of 39,874.

Can I trust Fineco?

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 Fineco good?
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.

Is Saxo Bank good?
Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

Overall winner: Saxo Bank

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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 01/10/2022 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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