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Saxo Bank vs FOREX.com 2022

ForexBrokers.com

Written by ForexBrokers.com

Published July 15, 2022
Last modified August 25, 2022

Is Saxo Bank better than FOREX.com? In our analysis of 23 international regulators across 39 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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Overall Rating expand_moreexpand_less Saxo Bank FOREX.com
Overall Rating starstarstarstarstar starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Offering of Investments starstarstarstarstar starstarstarstarstar
Platform & Tools starstarstarstarstar starstarstarstarstar_border
Mobile Trading starstarstarstarstar starstarstarstarstar_border
Research starstarstarstarstar starstarstarstarstar_border
Education starstarstarstarstar_border starstarstarstarstar_border
Trust Score 99 99
Winner check_circle
Review Saxo Bank Review FOREX.com Review
Regulation expand_moreexpand_less 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 2
Tier-3 Licenses 0 1
Authorised in European Union Yes Yes
Tier-1 Licenses (High Trust) expand_moreexpand_less Saxo Bank FOREX.com
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No Yes
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes Yes
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No Yes
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust) expand_moreexpand_less Saxo Bank FOREX.com
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
NSE Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes Yes
Tier-3 Licenses (Low Trust) expand_moreexpand_less Saxo Bank FOREX.com
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No Yes
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
Investments expand_moreexpand_less Saxo Bank FOREX.com
Forex Trading Yes Yes
Trading - Forex or CFDs Yes Yes
Tradeable Symbols (Total) 40000 5500
Forex Pairs (Total) 182 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).
Cost expand_moreexpand_less 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 (US August 2021)
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
Funding expand_moreexpand_less Saxo Bank FOREX.com
Minimum Initial Deposit $2,000 $100
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No No
Trading Platforms expand_moreexpand_less 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 expand_moreexpand_less 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
Charts can be saved Yes Yes
Mobile Trading expand_moreexpand_less Saxo Bank FOREX.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
Research expand_moreexpand_less Saxo Bank FOREX.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
Education expand_moreexpand_less 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 expand_moreexpand_less 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
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 2022 annual forex broker review, we spent hundreds of hours assessing 39 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. Both Saxo Bank and FOREX.com offer MetaTrader 4 (MT4).Copy trading is not offered by either broker.

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 5500 available CFDs, a difference of 34500.

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 – 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 – alongside limited access to MetaTrader.

Overall winner: Saxo Bank

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