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.
Saxo vs FOREX.com: Both online brokers earn a 99/99 Trust Score from ForexBrokers.com, placing them in the highly trusted 90–99 range (80–89 trusted, 70–79 average risk, 60–69 high risk, below 59 not trusted). Saxo was founded in 1992 and is a bank, but not publicly traded. FOREX.com was founded in 1999, is not a bank, and is publicly traded (listed on a stock exchange).
On regulation, each holds seven Tier-1 licenses from top regulators. Saxo also holds one Tier-2 license, while FOREX.com holds two Tier-2 licenses. With matching top-tier coverage and perfect Trust Scores, the main differences are Saxo’s banking status versus FOREX.com’s exchange listing and their slightly different number of mid-tier licenses.
| 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 | 2 |
| Tier-3 Licenses | 0 | 1 |
| Tier-4 Licenses | 0 | 1 |
Saxo offers excellent pricing overall, especially for active traders, high-volume traders, and clients with larger balances. In November 2023, average EUR/USD spreads were 1.1 pips for the Classic account, 1.0 pips for Platinum, and 0.9 pips for VIP. Saxo is commission-free for forex trading in most cases, though traders who trade fewer than 50,000 units per month are charged a $3 ticket fee per side. Saxo’s Commissions and Fees rating is 5 out of 5 stars, and it ranks #8 out of 36 brokers for this category.
FOREX.com is also a strong choice, but its pricing is a bit higher than the industry average in many cases. Its Standard account had average EUR/USD spreads of 1.4 pips in the U.S., while the newer RAW account offers tighter pricing with typical EUR/USD spreads around 0.13 pips, plus a commission of $7 per standard lot at the lowest tier. Active traders can qualify for volume-based rebates, which helps lower costs as trading volume rises. FOREX.com’s Commissions and Fees rating is 4.5 out of 5 stars, and it ranks #15 out of 36 brokers for this category.
For most traders, Saxo is the better pick if you want lower overall costs and can qualify for better account tiers. FOREX.com can still be a good fit for active traders who want commission-based pricing and rebate programs, but its standard pricing is less competitive. If your main goal is low fees, Saxo has the edge in this head-to-head comparison.
| 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 a CFD or spot contract, and each also offers U.S. and international exchange-traded securities, plus cryptocurrency CFDs. Neither broker supports copy trading or the purchase of actual, delivered cryptocurrency. Where Saxo stands out is in overall choice: it offers about 71,000 tradable symbols and 190 forex pairs, compared with FOREX.com’s 5,500 symbols and 80 forex pairs.
For investors looking for the widest range of markets, Saxo has the edge in available instruments and variety. That difference is also reflected in expert ratings, with both brokers earning 5 stars for Range of Investments, but Saxo ranking #3 out of 36 brokers versus FOREX.com at #6. In short, both brokers cover the basics well, but Saxo gives traders far more options to choose from.
| 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 | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| 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 and FOREX.com both give traders a strong set of platform choices, including free demo trading, their own in-house platforms, Windows desktop apps, and easy-to-use web platforms. Each broker also lets you trade directly from a chart, which can be helpful for faster order entry and active trading. Neither broker offers copy trading, so if that feature matters to you, neither one has an edge there.
The biggest difference is MetaTrader support: FOREX.com offers both MT4 and MT5, while Saxo does not. On the other hand, Saxo still scores well overall, with a 5-star rating for Trading Platforms and Tools and a #3 ranking out of 36 brokers at ForexBrokers.com, compared with FOREX.com’s 5-star rating and #5 ranking. For traders who want MetaTrader, FOREX.com is the better fit; for those focused on Saxo’s own platform and overall platform quality, Saxo remains a top choice.
| 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 | 90 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FOREX.com both make it easy to trade on the go with iPhone and Android apps, plus helpful features like price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. Each broker earns a 5-star rating for mobile trading apps, so both deliver a strong experience for everyday traders who want access to their accounts from a phone or tablet.
The main difference is in charting tools and overall ranking. Saxo offers 64 technical studies in its mobile app and is ranked #3 out of 36 brokers by ForexBrokers.com in the mobile trading apps category. FOREX.com gives users more charting depth with 90 technical studies and holds the higher spot at #2 out of 36, making it the better pick for traders who want more technical analysis tools on mobile.
| 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 | 90 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and FOREX.com both do well for market research, and each gives traders daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long and short positioning, and an economic calendar with upcoming global events. Both brokers also earn 5 stars for Research from ForexBrokers.com, so either platform can work well if you want regular updates and easy-to-follow market information.
The main difference is in the research tools they include. Saxo offers Autochartist, which can help spot trading patterns and price setups, while FOREX.com offers Trading Central, another popular source for technical analysis. Saxo is ranked #1 out of 36 brokers for Research by ForexBrokers.com, compared with #7 for FOREX.com, giving Saxo the edge overall for market research features.
| 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.
When it comes to education for beginners, both Saxo and FOREX.com give new traders plenty of learning materials to explore. Each broker offers forex and CFD education with at least 10 relevant pieces, plus online client webinars at least once a month. They also both provide 10 or more beginner videos and 10 or more advanced videos, so traders can move from the basics to more detailed topics at their own pace.
That said, FOREX.com has the edge in third-party recognition for education. Both brokers earn a 5-star Education rating, but FOREX.com is ranked #4 out of 36 brokers by ForexBrokers.com, while Saxo is ranked #12. In simple terms, both are strong choices for learning, but FOREX.com stands out a bit more for beginners who want a top-rated education experience.
| 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 #4.
Saxo is a 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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| Research |
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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 | 2 | |
| Tier-3 Licenses | 0 | 1 | |
| 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 CMA 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 | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| 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 | 90 | |
| 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 | 90 | |
| 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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