Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Forex.com (GAIN Capital) 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. Both Forex.com (GAIN Capital) and Saxo Bank are rated 4.50 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. Forex.com (GAIN Capital) alongside Saxo Bank are regulated in a major hub. Forex.com (GAIN Capital) 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 139 different currency pairs while Forex.com (GAIN Capital) has 84 available pairs, a difference of 55.
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 (GAIN Capital) offers Meta Trader 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 (GAIN Capital) offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. Forex.com (GAIN Capital) offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 45 available indicators, a difference of 6.
Overall, Saxo Bank takes the upper hand with 5.00 stars over Forex.com (GAIN Capital)'s 4.50 stars. And, when it comes to individual category awards, Forex.com (GAIN Capital) posted awards Best in Class - Research and Best in Class - Investor Education in 2018, while Saxo Bank found itself with Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.