Written by ForexBrokers.com
In this head to head comparison of Saxo vs FXOpen, 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 Saxo and FXOpen, both brokers bring distinct qualities to the table. Founded in 1992, Saxo operates as a bank and boasts a Trust Score rating of 99 according to ForexBrokers.com, demonstrating its strong reliability. Notably, Saxo holds seven Tier-1 licenses and one Tier-2 license, indicating a high level of regulatory oversight and trustworthiness. While Saxo is not publicly traded, its establishment as a bank adds to its credibility and stability in the financial market.
FXOpen, in contrast, was founded in 2003 and does not operate as a bank. With a Trust Score rating of 76, FXOpen falls into the average risk category. The broker holds two Tier-1 licenses but lacks Tier-2 licenses, pointing to a less extensive regulatory framework compared to Saxo. Like Saxo, FXOpen is not publicly traded. While both brokers offer their own set of features, the differences in their regulatory standings and trust scores are significant factors for potential investors to consider.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Year Founded | 1992 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When it comes to commissions and fees, Saxo Bank offers an impressive value, especially for active and high-volume traders looking to minimize costs. Saxo maintains competitive pricing across its Classic, Platinum, and VIP accounts with average EUR/USD spreads of 1.1, 1.0, and 0.9 pips, respectively. Though the Classic account sits slightly above the industry average, the Platinum and VIP accounts provide progressively better deals. Additionally, Saxo waives custody fees for share trading when traders opt into securities lending. The Classic account no longer requires a minimum deposit, making it accessible to a broad range of investors, while the more premium accounts necessitate substantial deposits, with the VIP account offering exclusive networking opportunities and market insights. For those trading forex, Saxo is primarily commission-free, charging only a $3 ticket fee for low-volume traders.
In contrast, FXOpen does not provide specific average spread data, but overall still maintains a respectable range with a 4-star rating for its fee structure. While FXOpen falls behind Saxo in its commission and fee offerings, ranking at #45 compared to Saxo's #9 out of 63 brokers evaluated by ForexBrokers.com, it remains a viable choice for traders prioritizing different aspects of their trading experience.
Ultimately, Saxo shines with a 5-star rating for its pricing, backed by significant discounts for those qualifying for higher-tier accounts. These benefits, alongside the bank’s loyalty program, make Saxo an attractive choice for traders willing to commit to substantial account balances or trading volumes. Meanwhile, FXOpen offers a solid albeit less competitive option for those exploring other trading features.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo vs FXOpen: for range of investments, Saxo offers far more choice. Saxo lists about 70,000 tradeable symbols and 190 forex pairs, while FXOpen has 87 symbols and 25 forex pairs. Both let you trade forex as CFDs and as spot. Saxo also lets you buy exchange-traded securities on U.S. and international exchanges (so you can purchase shares like Apple or Vodafone), whereas FXOpen does not offer exchange-traded shares. Both brokers support copy trading.
For crypto, neither broker lets you buy actual coins, but both provide cryptocurrency derivatives. Based on ForexBrokers.com’s Range of Investments ratings, Saxo scores 5 stars and ranks #3 of 63 brokers, while FXOpen scores 3 stars and ranks #63. Choose Saxo if you want a very wide selection across markets, including listed stocks; pick FXOpen if you’re comfortable with a smaller lineup focused on CFDs and spot trading.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 87 |
| Forex Pairs (Total) | 190 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Saxo and FXOpen both make it easy to test strategies with free demo (paper) accounts and offer web and Windows desktop platforms with trade-from-chart capability. Each supports copy trading. The key difference is platform choice: Saxo delivers its own in-house platform, while FXOpen relies on third-party options, most notably MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If you prefer a broker-designed experience with integrated tools, Saxo has the edge; if you want the familiar MT4/MT5 ecosystem, FXOpen is a natural fit.
Independent ratings underline the contrast. ForexBrokers.com rates Saxo 5 stars for Trading Platforms and Tools and ranks it #1 out of 63 brokers, while FXOpen earns 4 stars and sits at #54. Both cover the essentials—demo trading, web and desktop access, copy trading, and chart-based order entry—but your choice may come down to whether you value Saxo’s proprietary platform or FXOpen’s MT4/MT5 support.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| 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 [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FXOpen both offer iPhone and Android apps with price alerts and real-time watchlists. Each app lets you draw trendlines and switch between multiple time frames for charting. Key differences: Saxo syncs watchlists with your web account so changes carry over, while FXOpen does not. Saxo also auto-saves chart drawings; FXOpen requires you to redo them if you leave the chart.
For technical analysis, Saxo includes 64 built-in studies compared with 30 on FXOpen, giving more choice for indicators and overlays. Reflecting these gaps, ForexBrokers.com rates Saxo’s mobile app 5 stars and ranks it #2 out of 63 brokers, while FXOpen earns 4 stars and ranks #55. In short, both cover the essentials, but Saxo is better suited to traders who want deeper charting and seamless syncing across devices.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and FXOpen both cover the essentials for market research: daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, or Dow Jones, and an easy-to-read economic calendar. Saxo goes further with Autochartist-powered analysis and a sentiment tool that shows the long/short split across instruments. FXOpen does not offer Autochartist or a sentiment tool, and neither broker includes Trading Central. Saxo does not integrate TipRanks or Acuity Trading; FXOpen’s support for TipRanks and Acuity Trading isn’t specified in the information provided.
For overall research quality, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers. FXOpen earns 3 stars and is ranked 64th, pointing to a simpler research lineup compared with Saxo.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing Saxo and FXOpen for beginner-friendly forex and CFD education, Saxo offers a more structured learning path. Saxo runs educational client webinars at least once a month and provides 10+ beginner trading videos alongside 10+ advanced videos, giving new traders clear steps to follow. FXOpen does not host monthly educational webinars and does not offer 10 or more beginner or advanced videos, so its video library is leaner. These gaps show up in third-party assessments: Saxo holds 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com, while FXOpen is rated 3 stars and ranks #59.
Our data didn’t specify whether either broker has a searchable archive of past webinars, an investor dictionary with 50+ terms, or at least 10 total forex/CFD educational pieces beyond videos. If those features are important, check each broker’s education hub directly. For most beginners seeking guided learning through videos and regular webinars, Saxo is the stronger choice; if you only need basic materials and plan to learn elsewhere, FXOpen may still suit your needs.
| Feature |
Saxo
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | No |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) [DELETED] |
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 FXOpen. Saxo finished with an overall rank of #3, while FXOpen finished with an overall rank of #54.
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
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 76 |
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Both Saxo and FXOpen provide the option to invest in cryptocurrency derivatives but do not support the purchase of actual delivered cryptocurrency.
When comparing online brokers Saxo and FXOpen, both lack options for ACH, SEPA transfers, and PayPal for deposits or withdrawals; however, while Saxo does not support Skrill, FXOpen does, with both platforms accepting Visa, Mastercard, and bank wire transactions.
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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Saxo Review |
| Broker Screenshots | Saxo | FXOpen | |
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| Regulation | Saxo | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| Year Founded | 1992 | 2003 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 87 | |
| Forex Pairs (Total) | 190 | 25 | |
| 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). |
| Cost | Saxo | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts [DELETED] | |||
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | Saxo | FXOpen | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| 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 | No | |
| DupliTrade [DELETED] | |||
| ZuluTrade [DELETED] |
| Trading Tools | Saxo | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields [DELETED] | |||
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) [DELETED] | |||
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FXOpen | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | |||
| Webinars | Yes | No | |
| Client Webinars (Archived) [DELETED] | |||
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) [DELETED] |
| Major Forex Pairs | Saxo | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | Saxo | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Saxo Review |
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