Written by ForexBrokers.com
In this head to head comparison of Saxo vs FP Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing online brokers, Saxo, established in 1992, stands out with its exceptional credibility, holding a perfect ForexBrokers.com Trust Score of 99 out of 99. As a bank, Saxo offers a reassuring figure of seven Tier-1 licenses, underscoring its high level of trustworthiness. Additionally, it maintains one Tier-2 license. Despite being a privately held company, Saxo's longstanding presence in the market and extensive regulatory approvals highlight its stability and reliability.
FP Markets, founded in 2005, is a newer participant in the trading scene, earning a respectable Trust Score of 89 from ForexBrokers.com. While it is not a bank, FP Markets holds two Tier-1 licenses and one Tier-2 license, indicating a trusted standing in the market. Although it lacks the banking status and extensive Tier-1 licensing that Saxo possesses, FP Markets remains a credible choice for traders seeking a trusted broker.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Year Founded | 1992 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing two popular online brokers, Saxo and FP Markets, both excel in their offerings for commissions and fees, each earning a glowing 5-star rating for their pricing structures. Saxo stands out with one of the most competitive pricing models in the industry, especially for active and high-volume traders. For its EUR/USD trades, Saxo offers average spreads of 1.1, 1.0, and 0.9 pips for its Classic, Platinum, and VIP accounts, respectively. The broker's entry-level Classic account no longer requires a minimum deposit, while more advanced accounts like Platinum and VIP demand higher balances due to additional perks like Loyalty point upgrades and exclusive benefits for VIP members. Saxo also offers commission-free trading, with a $3 ticket fee applicable only if trading less than 50,000 units per month. This impressive cost-effectiveness ranks Saxo #9 among 63 brokers in the Commissions and Fees category, according to ForexBrokers.com.
FP Markets, another top contender, clinches the #6 rank for its highly competitive pricing, particularly through its commission-based Raw ECN account. With spreads averaging 0.1 pips on its Raw ECN account (0.8 pips after commission), FP Markets provides a cost-effective choice for traders seeking tight spreads. Additionally, FP Markets offers a more premium Iress ViewPoint account, particularly geared towards high-balance and active traders who can afford its associated fees and deposits, which range from AUD 1,000 for the Standard to AUD 50,000 for the Premier account. Traders aiming to minimize fees might find deterrence in the higher spreads of FP's Standard account at 1.1 pips, although its low-cost Iress Investor account does offer budget-friendly trading with the trade-off of limited platform capabilities.
Overall, both Saxo and FP Markets offer excellent pricing structures that cater to different types of traders. Whether you prefer Saxo's commission-free structure with slightly higher initial deposit requirements for premium accounts, or FP Markets' Raw ECN low-spread model, both brokers provide commendable value. While FP Markets is more cost-efficient for those on commission-based accounts, Saxo delivers significant benefits to traders with large capital through its customizable account tiers and lack of commissions on forex trades.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average Spread EUR/USD - Standard | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and FP Markets for investment options, Saxo clearly offers a wider selection. Saxo provides access to 70,000 tradeable symbols, significantly more than FP Markets' 10,000. For forex enthusiasts, Saxo also excels with 190 tradeable forex pairs compared to FP Markets' 71. Both platforms allow forex trading as a CFD or spot contract, but Saxo stands out by offering exchange-traded securities on both U.S. and international exchanges. This feature enables clients to buy real shares like Apple and Vodafone, a service FP Markets lacks.
Both brokers support copy trading and the option to trade cryptocurrency derivatives, though neither offers the purchase of actual cryptocurrencies. In terms of investment range, Saxo is highly rated with five stars and ranks third out of 63 brokers, while FP Markets follows with a rating of 4.5 stars and an 18th-place ranking. Despite FP Markets providing a solid platform for trading, Saxo's extensive range of investments makes it a top choice for traders seeking diverse opportunities.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 10000 |
| Forex Pairs (Total) | 190 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
Saxo and FP Markets both offer a comprehensive suite of trading platforms and tools that cater to traders of all levels. Both brokers provide simulated trading through free virtual demo accounts, allowing traders to practice without financial risk. They each offer proprietary platforms and a Windows-based desktop download, in addition to a web-based trading platform for convenience. While both brokers support copy trading, FP Markets stands out by offering MetaTrader 4 and MetaTrader 5, industry-standard platforms that Saxo does not. However, neither broker offers DupliTrade or ZuluTrade integrations.
In terms of charting tools, Saxo and FP Markets provide a rich trading experience, with Saxo offering an impressive 20 drawing tools compared to FP Markets' 17. Saxo allows up to 60 columns in its watch lists, significantly more than the 7 offered by FP Markets, giving traders more flexibility. Both brokers allow trading directly from stock charts. With a perfect score of 5 stars, Saxo is highly rated for its trading platforms and tools, ranking number one out of 63 brokers by ForexBrokers.com. Meanwhile, FP Markets holds a respectable 4-star rating, placing it at the 23rd spot in the same ranking, reflecting its strong, but not top-tier, position in the industry.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FP Markets both offer iPhone and Android apps, catering to mobile traders with convenient access on the go. Each app provides stock and forex price alerts, allowing traders to stay updated with market movements. While both platforms enable the creation of watchlists with real-time quotes, only Saxo syncs these watchlists between the mobile app and the online account, offering seamless continuity. When it comes to charting features, both brokers offer the ability to draw trendlines and view multiple time frames, but Saxo provides a broader set of 64 technical studies, whereas FP Markets uses the MetaTrader default. Additionally, both apps auto-save drawings on charts, eliminating any hassle of redoing work.
When evaluating mobile trading app ratings, Saxo stands out with a 5-star rating, ranking #2 out of 63 brokers according to ForexBrokers.com, highlighting its excellence in the mobile trading category. On the other hand, FP Markets, with its respectable 4-star rating, is ranked #18, indicating some room for improvement despite being an effective platform. For users prioritizing watchlist syncing and a larger variety of charting tools, Saxo might be the preferred choice. Meanwhile, FP Markets remains a solid option for traders who choose reliability and familiarity with MetaTrader charting features.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Saxo and FP Markets provide comprehensive market research features, ensuring traders are equipped with essential daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. These brokers also offer valuable tools from Autochartist, which help in technical and fundamental analysis. While both include sentiment-based trading tools and maintain an economic calendar for global news events, FP Markets also distinguishes itself by offering tools from Trading Central, enhancing its research capabilities further in certain areas.
Despite this, Saxo stands out with a superior research reputation, earning a perfect 5-star rating for its extensive services. In contrast, FP Markets holds a sturdy 4-star rating. Ranked #1 out of 63 brokers by ForexBrokers.com in the Research category, Saxo clearly sets a high benchmark, while FP Markets, ranked at #25, still offers valuable resources but with a slightly lesser emphasis than its competitor.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at Saxo and FP Markets, both brokers offer a rich array of materials tailored to those new to forex and CFD trading. Saxo and FP Markets each provide a minimum of 10 educational pieces that include articles, videos, and archived webinars focusing on forex and CFDs. Alongside these resources, they both host online webinars at least once a month, which are also archived for later viewing. This feature helps beginners gain insights from live interactions and catch up on missed sessions at their convenience.
In terms of video content, both Saxo and FP Markets exceed expectations by offering an extensive collection of videos, catering to both beginners and more experienced traders. They each provide at least 10 beginner-oriented educational videos as well as advanced videos. Additionally, beginner traders can look to their detailed investor dictionaries, each featuring definitions of over 50 key trading terms. Despite these similarities, Saxo edges ahead with a 5-star rating compared to FP Markets’ 4-star rating for education. Moreover, Saxo ranks 13th out of 63 brokers by ForexBrokers.com for educational offerings, whereas FP Markets is placed at 23rd, highlighting Saxo’s slight advantage in educational support.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than FP Markets. Saxo finished with an overall rank of #3, while FP Markets finished with an overall rank of #19.
Saxo 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.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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Both Saxo and FP Markets do not provide the option to purchase actual cryptocurrency (delivered), but they do offer the ability to trade cryptocurrency derivatives.
In a comparison of online brokers, both Saxo and FP Markets provide Visa or Mastercard and bank wire options for depositing and withdrawing funds, but FP Markets additionally supports PayPal and Skrill, while Saxo does not offer these digital payment options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | Saxo Review | FP Markets Review |
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| Regulation | Saxo | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1992 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 10000 | |
| Forex Pairs (Total) | 190 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Saxo | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | FP Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FP Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | FP Markets | |
|---|---|---|---|
| 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 Review | FP Markets Review |
| Overall | Saxo | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | Saxo Review | FP Markets Review |
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