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Saxo Bank vs FOREX.com 2020

Is FOREX.com better than Saxo Bank? After testing 30 of the best forex brokers over five months, 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 Saxo Bank FOREX.com
Overall 5 4.5
Saxo Bank Review FOREX.com Review
71% of retail CFD accounts lose money 73% of retail CFD accounts lose money

Regulation

Feature Saxo Bank FOREX.com
Trust Score 98 93
Year Founded
1992 1999
Publicly Traded (Listed)
No Yes
Bank
Yes No
Tier-1 Licenses
6 4
Tier-2 Licenses
1 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Investments

Feature Saxo Bank FOREX.com
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes No
Currency Pairs (Total Forex pairs)
170 91
CFDs - Total Offered
40000 4500
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 5 5
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Cost

Feature Saxo Bank FOREX.com
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 1.4 (UK August 2020)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) 1.5 (August 2020)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 5 4
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Funding

Feature Saxo Bank FOREX.com
Minimum Initial Deposit
$10,000.00 $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

Trading Tools

Feature Saxo Bank FOREX.com
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
58 18
Charting - Indicators / Studies (Total)
58 139
Charting - Drawing Tools (Total)
19 25
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 5 4
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Mobile Trading

Feature Saxo Bank FOREX.com
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
41 88
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 4.5 4
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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
Research 5 4.5
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Education

Feature Saxo Bank FOREX.com
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
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 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
Saxo Bank Review FOREX.com Review
Overall 5 4.5
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Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 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. Saxo Bank holds 1 global Tier-2 licenses, while FOREX.com holds 0. All regulators considered, Saxo Bank has a Trust Score of 98.00, while FOREX.com's Trust Score is 93.00.

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 170 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.

Overall, between FOREX.com and Saxo Bank, Saxo Bank is the better forex broker.

FOREX.com Review
Saxo Bank Review

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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 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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