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FOREX.com vs Saxo Bank 2019

Is FOREX.com better than Saxo Bank? After assessing the best forex brokers on nearly 100 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 4.5
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 4 4.5
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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 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 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 4 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 4.5
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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 4.5
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare FOREX.com vs Saxo Bank.

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


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.

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