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 earns 5 stars for commissions and fees (ranked #9 of 63), while FOREX.com earns 4.5 stars (ranked #14 of 63). Saxo tends to suit active and high-balance clients with tiered pricing and competitive spreads, whereas FOREX.com can be pricier on its Standard account in the U.S., but offers lower all-in pricing for advanced, high‑volume traders on its commission-based RAW account.
At Saxo, average EUR/USD spreads were 1.1 pips (Classic), 1.0 (Platinum), and 0.9 (VIP) as of November 2023; minimums were about 0.2 pips tighter. Classic now has a $0 minimum deposit, Platinum requires $200,000 (AUD 300,000 in Australia) or an upgrade via loyalty points, and VIP typically requires a $1,000,000 deposit or sizable trading volume. Forex trades are commission-free; however, traders doing less than 50,000 units per month pay a $3 per-side ticket fee. Saxo also waives custody fees for share trading if you opt into securities lending.
FOREX.com’s Standard account (the only MetaTrader option) averaged 1.4 pips on EUR/USD in the U.S. (July 2023), while outside the U.S. it averaged about 0.74 pips. The RAW account (U.S., EU, Canada) showed typical EUR/USD spreads of 0.13 pips in February 2024, plus a $7 per standard lot commission ($3.5 per side) — roughly a 0.7‑pip add-on before any volume rebates of $2–$9 per million. Unless you trade more than $50 million per month, the all‑in costs for the Commission/RAW setup tend to resemble the Standard account for U.S. residents, but very high-volume traders can unlock meaningfully lower effective spreads.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.0 | 1.00 |
| All-in Cost EUR/USD - Active | 0.8 | 1.13 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and FOREX.com both let you trade forex as either CFDs or spot, and each also offers cryptocurrency via CFDs (neither lets you buy real crypto). When it comes to choice, Saxo lists about 71,000 tradeable symbols and 190 forex pairs, while FOREX.com offers roughly 5,500 symbols and 80 forex pairs. That makes Saxo the clear leader for sheer variety, though both earn a 5 out of 5 rating for Range of Investments.
If you want to buy exchange-traded shares directly, Saxo stands out: you can access U.S. stocks like Apple as well as shares on many international exchanges. FOREX.com does not offer direct share dealing and focuses on CFDs and forex instead. Neither broker supports copy trading. In ForexBrokers.com’s Range of Investments rankings, Saxo places #3 out of 63 brokers and FOREX.com comes in at #7—so pick Saxo for a broader multi-asset lineup, or choose FOREX.com if your priority is trading forex and CFDs.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 5500 |
| Forex Pairs (Total) | 190 | 80 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 vs FOREX.com: both brokers shine for trading platforms and tools. Each offers a free paper trading demo account, an in-house proprietary platform, a Windows desktop download, and a web-based platform. Both also let you place trades directly from charts. Neither supports copy trading. A key difference is MetaTrader access: FOREX.com supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Saxo does not.
For ratings, ForexBrokers.com gives both Saxo and FOREX.com 5 stars for Trading Platforms and Tools. In category rankings, Saxo places #1 out of 63 brokers, while FOREX.com ranks #7. If you want MT4/MT5, FOREX.com is the obvious pick. If you prefer top-ranked, in-house platforms and tools, Saxo stands out.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 61 | 88 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FOREX.com both deliver strong mobile trading apps for iPhone and Android. You’ll find price alerts for forex and stocks, watchlists that sync with your online account, and charting tools that let you draw trendlines with drawings saved automatically. Both apps are rated 5 stars for mobile trading.
The main difference is in charting depth and rankings. FOREX.com offers 88 technical studies in its mobile charts, while Saxo provides 64, which may suit traders who rely on a large set of indicators. That said, ForexBrokers.com ranks Saxo #2 out of 63 brokers for Mobile Trading Apps, with FOREX.com at #3. Choose FOREX.com if you want more built-in indicators; pick Saxo if a higher-ranked app experience matters more to you.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo and FOREX.com both give beginners plenty of forex and CFD education. Each runs online client webinars at least once a month and provides sizable video libraries, including 10+ beginner videos and 10+ advanced videos. That makes it easy to start with the basics and progress to more experienced topics at your own pace.
For education quality, Saxo is rated 5 stars and ranked #13 out of 63 brokers, while FOREX.com is rated 4.5 stars and ranked higher at #4. If you prefer the highest star rating, Saxo has the edge; if overall category placement matters more, FOREX.com sits nearer the top. Either way, beginners will find consistent webinars and a wide range of learning materials at both brokers.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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
|
FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Saxo vs FOREX.com: both online brokers offer cryptocurrency trading through CFDs, but neither allows clients to buy or take delivery of actual (spot) crypto assets.
Compared to Saxo, FOREX.com supports ACH/SEPA transfers, PayPal, and Skrill for deposits and withdrawals, while both brokers accept bank wire transfers; Visa/Mastercard availability was not specified.
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 (FSA 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 | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Saxo | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 5500 | |
| Forex Pairs (Total) | 190 | 80 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.0 | 1.00 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.13 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | FOREX.com | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 88 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FOREX.com | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | FOREX.com | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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