Written by ForexBrokers.com
In this head to head comparison of Saxo vs FOREX.com, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing online brokers, Saxo and FOREX.com both stand out with a perfect Trust Score of 99 from ForexBrokers.com, indicating they are highly trusted. Saxo, established in 1992, operates as a bank and holds an impressive seven Tier-1 licenses and one Tier-2 license, underscoring its strong regulatory position. In contrast, FOREX.com, founded in 1999 and publicly traded, matches Saxo with seven Tier-1 licenses and one Tier-2 license, although it is not a bank.
Despite starting seven years later than Saxo, FOREX.com's status as a publicly traded company might appeal to investors seeking transparency associated with listed firms. Meanwhile, Saxo's status as a bank may attract those who value stability and traditional banking roots. Both brokers exhibit strong regulatory credentials, providing traders with a secure and trustworthy trading environment. With equal Trust Scores and Tier-1 licenses, either platform makes a compelling choice depending on individual preferences.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Year Founded | 1992 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo Bank offers attractive pricing for traders, particularly those who are active, trade high volumes, or can maintain substantial account balances. With a pricing structure that becomes more competitive with its Platinum and VIP accounts, Saxo delivers average spreads on the EUR/USD at 1.1, 1.0, and 0.9 pips for its Classic, Platinum, and VIP accounts, respectively, as of November 2023. The Classic account has been made more accessible with a zero-dollar minimum deposit. For those seeking the best savings, its VIP account stands out, requiring a $1,000,000 deposit or sufficient loyalty points for an upgrade. While Saxo operates commission-free on forex, trading under 50,000 units incurs a $3 ticket fee per side. Saxo’s commissions and fees have earned it a 5-star rating and a #9 ranking by ForexBrokers.com out of 63 brokers.
FOREX.com presents a diverse range of account options, but generally, its pricing is slightly above the industry average for most traders, particularly within the U.S. market. The Standard account, available to MetaTrader clients, has a relatively high average spread of 1.4 pips on the EUR/USD. Meanwhile, the RAW Spread account, which features typical spreads of 0.13 pips with an added commission of $7 per standard lot, offers competitive pricing for high-volume traders due to its volume-based rebate system. For those exceeding $50 million in trades monthly, the Commission and Standard accounts share similar costs for U.S. residents barring execution methods and platform availability. FOREX.com holds a 4.5-star rating and is ranked #13 among 63 brokers for commissions and fees by ForexBrokers.com.
In summary, both Saxo and FOREX.com cater to different types of forex traders. Saxo's commission-free trading pairs with loyalty rewards and account tier upgrades to offer some of the lowest spreads for larger account holders. On the other hand, FOREX.com caters to highly active traders with its RAW Spread account and rebate opportunities, despite generally having higher costs for average retail traders. Consider your trading volume and platform preference to determine which broker aligns better with your financial strategy.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.4 |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to investment options, both Saxo and FOREX.com provide extensive opportunities for traders. Saxo stands out with an impressive 70,000 tradeable symbols, including a broad range of 190 forex pairs. In comparison, FOREX.com offers 5,500 tradeable symbols with 80 forex pairs available. Saxo also provides access to U.S. and international exchange-traded securities, allowing clients to invest directly in companies like Apple and Vodafone, a feature not available with FOREX.com. While both platforms enable trading in cryptocurrency derivatives, neither offers the purchase of actual cryptocurrencies. Additionally, Saxo gives users the benefit of copy trading to mirror strategies from seasoned investors, which isn't a feature available on FOREX.com.
Despite these differences, both Saxo and FOREX.com have earned a five-star rating for their range of investments, illustrating their strength in diverse offerings. However, in a broader analysis by ForexBrokers.com, Saxo ranks higher at number three for its range of investments, with FOREX.com following at number seven. This ranking reflects Saxo’s more extensive portfolio options and access to a wider array of global markets, making it a desirable choice for traders looking for variety in their investment strategies.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 5500 |
| Forex Pairs (Total) | 190 | 80 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Saxo and FOREX.com both offer comprehensive trading platforms and tools designed to cater to a range of trader needs. Both platforms provide simulated trading with free virtual demo accounts, allowing users to practice without financial risk. Each broker has developed its own proprietary platform and offers a Windows-based desktop download and a web-based platform for browser trading. Saxo stands out with copy trading features that FOREX.com lacks, making it appealing for traders interested in mirroring the strategies of others in the market. Additionally, both platforms enable trading directly from stock charts, enhancing the flexibility and ease of executing trades.
While FOREX.com supports popular third-party platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), Saxo does not, which could be a deciding factor for traders who prefer these tools. In terms of charting capabilities, FOREX.com offers an impressive 239 drawing tools compared to Saxo’s 20, potentially providing more nuanced analysis options. However, Saxo compensates with a more extensive watchlist feature offering 60 columns compared to FOREX.com's 20. Both brokers receive a top rating of 5 stars for their trading platforms and tools, though Saxo is ranked #1 out of 63 brokers by ForexBrokers.com in this category, while FOREX.com ranks #7.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 88 |
| Charting - Drawing Tools (Total) | 20 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Saxo and FOREX.com offer feature-rich mobile trading apps available for both iPhone and Android devices. Traders can receive stock or forex price alerts and seamlessly sync their watchlists across mobile and online platforms, making it convenient to manage portfolios on the go. Both apps provide advanced charting capabilities, allowing users to draw trendlines, view multiple time frames, and have any drawings automatically saved for future reference. Additionally, real-time quotes can be monitored through customizable watchlists within the apps.
When it comes to charting analysis, FOREX.com outshines Saxo with a total of 88 technical studies compared to Saxo's 64. Despite this difference, both platforms have earned impressive five-star ratings for their mobile offerings. According to ForexBrokers.com, Saxo stands out slightly higher, ranking as the second-best mobile trading app among 63 brokers, while FOREX.com is closely behind at third place. Overall, both brokers deliver top-tier mobile trading experiences, meeting the diverse needs of traders.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Saxo and FOREX.com deliver daily market commentary, ensuring you stay informed with the latest insights. They also provide forex news sourced from top-tier media firms like Bloomberg and Reuters. However, Saxo takes a slight edge with its technical analysis tools, offering resources from Autochartist, a feature that FOREX.com lacks. In contrast, FOREX.com provides tools from Trading Central, whereas Saxo does not, allowing each platform to cater to different analytical preferences.
Both platforms include sentiment-based trading tools and economic calendars, offering comprehensive market coverage. Despite FOREX.com's strong offerings, Saxo excels with a perfect 5-star research rating and is ranked the top broker for research by ForexBrokers.com, outpacing FOREX.com's 4.5-star rating and ninth position. Ultimately, choosing between these brokers may come down to whether you prefer Saxo's Autochartist tools or FOREX.com's Trading Central analytics.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both Saxo and FOREX.com offer extensive educational resources that cater to beginners looking to learn about forex and CFDs trading. They each provide more than 10 educational materials like articles, videos, and archived webinars focusing on forex or CFDs. For those who prefer interactive learning, both platforms host regular online webinars. These sessions are held monthly, ensuring that new traders have the latest insights and strategies at their fingertips. Both brokers also offer searchable archives of their past webinars, so users can easily access previous sessions for further learning.
For beginner traders eager to master the basics, both Saxo and FOREX.com offer a wealth of beginner-focused videos covering key trading topics. These platforms don't just stop at the basics; they also provide over 10 advanced educational videos aimed at more experienced traders. To support learning, each broker features an investor dictionary that defines over 50 trading terms, helping newcomers navigate the often complex world of trading. While Saxo earns a slightly higher education rating of 5 stars compared to FOREX.com's 4.5 stars, FOREX.com is ranked higher at #4 compared to Saxo's #13 among 63 brokers, indicating a highly competitive educational offering from both platforms.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| 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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than FOREX.com. Saxo finished with an overall rank of #3, while FOREX.com finished with an overall rank of #5.
Saxo 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.
| Feature |
Saxo
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FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Saxo and FOREX.com do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
When comparing online brokers Saxo and FOREX.com in terms of options for depositing or withdrawing account funds, Saxo supports Visa, Mastercard, and bank wires but lacks ACH, SEPA, PayPal, and Skrill, while FOREX.com offers greater flexibility with ACH, SEPA, PayPal, Visa, Mastercard, and bank wire options, though it does not support Skrill.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | FOREX.com Review |
| Broker Screenshots | Saxo | FOREX.com | |
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| Regulation | Saxo | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | FOREX.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 5500 | |
| Forex Pairs (Total) | 190 | 80 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 20 | |
| Charting - Indicators / Studies (Total) | 64 | 88 | |
| Charting - Drawing Tools (Total) | 20 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FOREX.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FOREX.com | |
|---|---|---|---|
| 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 | Saxo | FOREX.com | |
|---|---|---|---|
| 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 | |
| Review | Saxo Review | FOREX.com Review |
| Overall | Saxo | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | FOREX.com Review |
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