Saxo Bank vs FlowBank 2023

Saxo Bank is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). 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), Financial Conduct Authority (FCA), and the European Union Authorized (MiFID).

FlowBank operates a regulated Swiss bank, and is authorised by one Tier-1 regulator (high trust): the Swiss Financial Market Supervisory Authority (FINMA).

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.

As a relative newcomer to the Swiss online brokerage scene, FlowBank already has a lot to offer its customers. FlowBank clients benefit from the advantages that come with holding a Swiss bank account, and its brokerage services provide access to more advertised symbols than any online broker that we’ve reviewed thus far.

To open a forex trading account with Saxo Bank, you'll need to make an initial minimum deposit of €2,000.

Saxo Bank requires a minimum deposit of $0 before you can open an account and start trading forex.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo Bank offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas FlowBank provides Bank Wire (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo Bank offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo Bank holds 7 global Tier-1 licenses, while FlowBank holds 1. Saxo Bank holds 1 global Tier-2 licenses, while FlowBank holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo Bank (99) earned a higher Trust Score than FlowBank (80).

To compare the trading platforms of both Saxo Bank and FlowBank, 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.

Here’s what trading platforms are available at Saxo Bank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

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Here’s what trading platforms are available at FlowBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

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The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Saxo Bank and FlowBank both offer copy trading.

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to FlowBank's 52 available pairs. If you are interested in trading CFDs, FlowBank offers traders access to 408600 CFDs, while Saxo Bank offers access to 70000 CFDs; so FlowBank offers 338600 more CFDs than Saxo Bank.

We found in our testing that Saxo Bank offers a more diverse selection of investment options than FlowBank, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.