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Saxo Bank vs FOREX.com 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than FOREX.com? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. FOREX.com is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Compare

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Overall RatingSaxo BankFOREX.com
Overall Rating 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score 99 99
Winner check_circle
Review Saxo Bank Review FOREX.com Review
Broker ScreenshotsSaxo BankFOREX.com
Trading Platforms Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Gallery (click to expand)
Education Gallery (click to expand)
RegulationSaxo BankFOREX.com
Trust Score 99 99
Year Founded 1992 1999
Publicly Traded (Listed) No Yes
Bank Yes No
European Union Authorised (MiFID) Yes info Yes info
Tier-1 Licenses 6 4
Tier-2 Licenses 1 2
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)Saxo BankFOREX.com
Australia (ASIC Authorised) Yes No
Canada (SRO Authorised) No Yes
Hong Kong (SFC Authorised) Yes No
CBI Authorised (Ireland) No No
Japan (SFC Authorised) Yes Yes
Singapore (MAS Authorised) Yes No
Switzerland (FINMA Authorised) No No
United Kingdom (U.K.) (FCA Authorised) Yes Yes
USA (CFTC Authorized) No Yes
New Zealand (FMA Authorised) No No
Tier-2 Licenses (Average Trust)Saxo BankFOREX.com
China (CBRC Authorised) No No
Cyprus (CySEC Authorised) No Yes
India (SEBI Authorised) No No
Israel (ISA Authorised) No No
Russia (CBR Authorised) No No
South Africa (FSCA Authorised) No No
Thailand (SEC Authorised) No No
UAE (DFSA/Central Bank Authorised) Yes Yes
Tier-3 Licenses (Low Trust)Saxo BankFOREX.com
Bahamas (SCB Authorised) No No
Belize (FSC Authorised) No No
Cayman Islands (CIMA Authorised) No Yes
Bermuda (BMA Authorised) No No
British Virgin Islands (FSC Authorised) No No
Mauritius (FSC Authorised) No No
Vanuatu (VFSC Authorised) No No
InvestmentsSaxo BankFOREX.com
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 5500
Forex Pairs (Total) 190 91
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 (CFD) 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).
CostSaxo BankFOREX.com
Average Spread EUR/USD - Standard 0.9 info 1.0 info
All-in Cost EUR/USD - Active 0.7 info 1.0 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankFOREX.com
Minimum Deposit โ‚ฌ2,000 $100
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No No
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankFOREX.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 ToolsSaxo BankFOREX.com
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 20
Charting - Indicators / Studies (Total) 62 203
Charting - Drawing Tools (Total) 20 25
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankFOREX.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 62 88
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankFOREX.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
Economic Calendar Yes Yes
EducationSaxo BankFOREX.com
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 PairsSaxo BankFOREX.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 Bank Review FOREX.com Review
OverallSaxo BankFOREX.com
Overall Rating 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score 99 99
Winner check_circle
Review Saxo Bank Review FOREX.com Review
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Saxo Bank vs FOREX.com Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs FOREX.com.

Does Saxo Bank or FOREX.com 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 Saxo Bank or FOREX.com safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while FOREX.com holds 4. FOREX.com holds 2 global Tier-2 licenses, while Saxo Bank holds 1. In our analysis of 23 international regulators across 50 brokers, Saxo Bank and FOREX.com earned the same Trust Score.

Which trading platform is better: Saxo Bank or FOREX.com?

To compare the trading platforms of both Saxo Bank and FOREX.com, 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. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to FOREX.com's 91 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while FOREX.com has 5500 available CFDs, a difference of 54500.

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).

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).

Is Saxo Bank good?

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience โ€“ as well as a stunning selection of over 40,000 securities.

Is FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

Overall winner: Saxo Bank

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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