Is FOREX.com better than Saxo Bank? In our analysis of 23 international regulators across 50 brokers, FOREX.com is considered low-risk, with an overall Trust Score of 93 out of 99. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.
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Saxo Bank vs FOREX.com 2021
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 | Saxo Bank | FOREX.com |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| Saxo Bank Review | FOREX.com Review | |
| 64% of retail CFD accounts lose money | 77% of retail CFD accounts lose money |
Regulation
| Feature | Saxo Bank | FOREX.com |
| Trust Score | 99 | 99 |
|
Year Founded |
1992 | 1999 |
|
Publicly Traded (Listed) |
No | Yes |
|
Bank |
Yes | No |
|
Tier-1 Licenses |
6 | 4 |
|
Tier-2 Licenses |
1 | 1 |
|
Tier-3 Licenses |
0 | 1 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses (High Trust)
| Feature | Saxo Bank | FOREX.com |
|
ASIC Authorised (Australia) |
Yes | No |
|
IIROC Authorised (Canada) |
No | Yes |
|
SFC Authorised (Hong Kong) |
Yes | No |
|
FSA Authorised (Japan) |
Yes | Yes |
|
MAS Authorised (Singapore) |
Yes | No |
|
FINMA Authorised (Switzerland) |
Yes | No |
|
FCA Authorised (UK) |
Yes | Yes |
|
CFTC Registered (USA) |
No | Yes |
Tier-2 Licenses (Average Trust)
| Feature | Saxo Bank | FOREX.com |
|
CBRC Authorised (China) |
No | No |
|
CySEC Authorised (Cyprus) |
No | Yes |
|
CBI Authorised (Ireland) |
No | No |
|
ISA Authorised (Israel) |
No | No |
|
FMA Authorised (New Zealand) |
No | No |
|
CBR Authorised (Russia) |
No | No |
|
FSCA Authorised (South Africa) |
No | No |
|
SEC Authorised (Thailand) |
No | No |
Tier-3 Licenses (Low Trust)
| Feature | Saxo Bank | FOREX.com |
| SCB Authorised (Bahamas) | No | No |
| IFSC Authorised (Belize) | No | No |
| BMA Authorised (Bermuda) | No | No |
|
FSC Authorised (British Virgin Islands) |
No | No |
|
FSC Authorised (Mauritius) |
No | No |
Investments
| Feature | Saxo Bank | FOREX.com |
|
Forex Trading |
Yes | Yes |
|
CFD Trading |
Yes | Yes |
|
Tradeable Symbols (Total) |
40000 | 4500 |
|
Forex Pairs (Total) |
182 | 91 |
|
US Stock Trading (Non CFD) |
Yes | No |
|
Int'l Stock Trading (Non CFD) |
Yes | No |
|
Cryptocurrency (Physical) |
No | No |
|
Cryptocurrency (CFD) |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | No |
Cost
| Feature | Saxo Bank | FOREX.com |
|
Average Spread EUR/USD - Standard |
0.8 (August 2020) | 1.1 (US August 2021) |
|
All-in Cost EUR/USD - Active |
0.6 (August 2020) | 1.1 (August 2021) |
|
Active Trader or VIP Discounts |
Yes | Yes |
|
Execution: Agency Broker |
Yes | No |
|
Execution: Market Maker |
Yes | Yes |
Funding
| Feature | Saxo Bank | FOREX.com |
|
Minimum Deposit |
$2,000.00 | $100.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | Yes |
|
PayPal (Deposit/Withdraw) |
No | Yes |
|
Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | Saxo Bank | FOREX.com |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | No |
|
MetaTrader 4 (MT4) |
Yes | Yes |
|
MetaTrader 5 (MT5) |
No | Yes |
|
cTrader |
No | No |
|
DupliTrade |
No | No |
|
ZuluTrade |
No | No |
Trading Tools
| Feature | Saxo Bank | FOREX.com |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
62 | 18 |
|
Charting - Indicators / Studies (Total) |
62 | 139 |
|
Charting - Drawing Tools (Total) |
20 | 25 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
Mobile Trading
| Feature | Saxo Bank | FOREX.com |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | Yes |
|
Charting - Indicators / Studies |
62 | 88 |
|
Charting - Draw Trendlines |
Yes | Yes |
|
Charting - Trendlines Moveable |
Yes | Yes |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
Research
| Feature | Saxo Bank | FOREX.com |
|
Daily Market Commentary |
Yes | Yes |
|
Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
No | Yes |
|
Autochartist |
Yes | No |
|
Trading Central (Recognia) |
No | Yes |
|
Delkos Research |
No | No |
|
Social Sentiment - Currency Pairs |
Yes | Yes |
|
Economic Calendar |
Yes | Yes |
Education
| Feature | Saxo Bank | FOREX.com |
|
Has Education - Forex or CFDs |
Yes | Yes |
|
Client Webinars |
Yes | Yes |
|
Client Webinars (Archived) |
Yes | No |
|
Videos - Beginner Trading Videos |
Yes | Yes |
|
Videos - Advanced Trading Videos |
Yes | No |
|
Investor Dictionary (Glossary) |
Yes | Yes |
Major Forex Pairs
| Feature | Saxo Bank | 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 |
Overall
| Feature | Saxo Bank | FOREX.com |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| Saxo Bank Review | FOREX.com Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs Saxo Bank.
Does FOREX.com or Saxo Bank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.
Is FOREX.com or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while FOREX.com holds 4. Both FOREX.com and Saxo Bank hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, FOREX.com and Saxo Bank earned the same Trust Score.
Which trading platform is better: FOREX.com or Saxo Bank?
To compare the trading platforms of both FOREX.com and Saxo Bank, 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.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While Saxo Bank offers copy trading, FOREX.com does not. Both FOREX.com and Saxo Bank offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to FOREX.com's 91 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while FOREX.com has 4500 available CFDs, a difference of 35,500.
Can I trust FOREX.com?
FOREX.com is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).
Can I trust Saxo Bank?
Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). 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) and the Financial Conduct Authority (FCA).
Is FOREX.com good?
FOREX.com delivers an excellent trading experience for forex and CFDs traders across the globe. With competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app, FOREX.com caters to traders of all experience levels.
Is Saxo Bank good?
For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.
Overall winner: Saxo Bank
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Trading CFDs, FX, and cryptocurrencies involve 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 website as of 12/14/2020 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.
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