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FOREX.com vs Saxo Bank 2019
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.
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Overall Rating
| Feature | FOREX.com | Saxo Bank |
| Overall | ||
| FOREX.com Review | Saxo Bank Review | |
| 69% of retail CFD accounts lose money | 72% of retail CFD accounts lose money |
Regulation
| Feature | FOREX.com | Saxo Bank |
| Trust Score | 93 | 98 |
|
Year Founded |
1999 | 1992 |
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Publicly Traded (Listed) |
Yes | No |
|
Bank |
No | Yes |
|
Tier-1 Licenses |
4 | 6 |
|
Tier-2 Licenses |
0 | 1 |
|
Tier-3 Licenses |
1 | 0 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | FOREX.com | Saxo Bank |
|
ASIC Authorised (Australia) |
No | Yes |
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IIROC Authorised (Canada) |
Yes | No |
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SFC Authorised (Hong Kong) |
No | Yes |
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FSA Authorised (Japan) |
Yes | Yes |
|
MAS Authorised (Singapore) |
No | Yes |
|
FINMA Authorised (Switzerland) |
No | Yes |
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FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
Yes | No |
Investments
| Feature | FOREX.com | Saxo Bank |
|
Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
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Currency Pairs (Total Forex pairs) |
91 | 182 |
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CFDs - Total Offered |
4500 | 35000 |
|
Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | FOREX.com | Saxo Bank |
|
Average Spread EUR/USD - Standard |
1 (as of Q3 19) | 0.6 (as of Sep 19) |
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All-in Cost EUR/USD - Active |
0.7 (as of Q3 18) | 0.6 (as of Sep 19) |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | FOREX.com | Saxo Bank |
|
Minimum Initial Deposit |
$50.00 | $10,000.00 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
Yes | No |
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Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | FOREX.com | Saxo Bank |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | No |
|
MetaTrader 5 (MT5) |
Yes | No |
|
cTrader |
No | No |
Trading Tools
| Feature | FOREX.com | Saxo Bank |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
18 | 12 |
|
Charting - Indicators / Studies (Total) |
139 | 55 |
|
Charting - Drawing Tools (Total) |
25 | 19 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | FOREX.com | Saxo Bank |
|
Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
|
Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | Yes |
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Charting - Indicators / Studies |
7 | 41 |
|
Charting - Draw Trend Lines |
Yes | Yes |
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Charting - Trend Lines Moveable |
Yes | Yes |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | FOREX.com | Saxo Bank |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
Yes | Yes |
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AutoChartist |
Yes | Yes |
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Trading Central (Recognia) |
Yes | No |
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Delkos Research |
Yes | No |
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Social Sentiment - Currency Pairs |
Yes | Yes |
|
Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | FOREX.com | Saxo Bank |
|
Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
No | Yes |
|
Client Webinars |
Yes | Yes |
|
Client Webinars (Archived) |
No | Yes |
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Videos - Beginner Trading Videos |
Yes | Yes |
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Videos - Advanced Trading Videos |
Yes | Yes |
|
Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | FOREX.com | Saxo Bank |
|
GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
|
USD/CHF |
Yes | Yes |
|
USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | FOREX.com | Saxo Bank |
| FOREX.com Review | Saxo Bank Review | |
| Overall | ||
| Winner | check_circle |
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both FOREX.com and Saxo Bank hold a 4.50 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FOREX.com alongside Saxo Bank are regulated in a major hub. FOREX.com is a publicly traded company, Saxo Bank isn't. As far as how many currency pairs are available for trading, here's the answer. Saxo Bank offers its clients access to 182 different currency pairs while FOREX.com has 91 available pairs, a difference of 91.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FOREX.com has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FOREX.com boasts an offering of 25 charting tools compared to Saxo Bank's 19 available charting tools. FOREX.com offers its clients access to 139 different indicators (for example, volume) while Saxo Bank has 55 available indicators, a difference of 84.
FOREX.com Review
Saxo Bank Review
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Trading CFDs, FX, and cryptocurrencies involves 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 web site as of 02/18/2019 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.
