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FOREX.com vs Saxo Bank 2020

Is FOREX.com better than Saxo Bank? After grading the best forex brokers on 105 different variables, Saxo Bank is better than FOREX.com. 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.

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 4.5 5
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
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
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No Yes
FSA Authorised (Japan)
Yes Yes
MAS Authorised (Singapore)
No Yes
FINMA Authorised (Switzerland)
No Yes
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes No

Investments

Feature FOREX.com Saxo Bank
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
91 182
CFDs - Total Offered
4500 35000
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes No
Offering of Investments 5 5
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Cost

Feature FOREX.com Saxo Bank
Average Spread EUR/USD - Standard
1 (as of Q3 19) 0.6 (as of Sep 19)
All-in Cost EUR/USD - Active
0.7 (as of Q3 18) 0.6 (as of Sep 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 5
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Funding

Feature FOREX.com Saxo Bank
Minimum Initial Deposit
$50.00 $10,000.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
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 Yes
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 4 5
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Mobile Trading

Feature FOREX.com Saxo Bank
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
7 41
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes
Mobile Trading 4 4.5
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Research

Feature FOREX.com Saxo Bank
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
Yes No
Delkos Research
Yes No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 5
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Education

Feature FOREX.com Saxo Bank
Has Education - Forex
Yes Yes
Has Education - CFDs
No Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
No Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 4
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Major Forex Pairs

Feature FOREX.com Saxo Bank
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 FOREX.com Saxo Bank
FOREX.com Review Saxo Bank Review
Overall 4.5 5
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Our ForexBrokers.com team spent several months and hundreds of hours assessing 30 different forex broker accounts for trading FX. In total, over 3,180 data points were collected. For this review, we will compare FOREX.com vs Saxo Bank.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Saxo Bank's score is 5 stars versus FOREX.com's 4 stars.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both FOREX.com and Saxo Bank are regulated in a major hub. FOREX.com is a publicly traded company while Saxo Bank is not. How many currency pairs are available to trade? Saxo Bank offers its clients access to 182 different currency pairs while FOREX.com has 91 available pairs, a difference of 91.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FOREX.com makes Meta Trader available to clients, while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. FOREX.com offers its clients access to 25 charting tools while Saxo Bank has 19 charting tools, a difference of 6. 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


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 web site as of 01/20/2020 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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