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Saxo vs FXCM 2024

ForexBrokers.com

Written by ForexBrokers.com

August 05, 2024

Is Saxo better than FXCM? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo is considered Trusted, with an overall Trust Score of 99 out of 99. FXCM is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Saxo FXCM
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 99 95
Winner check_circle
Review Saxo Review FXCM Review
Broker Screenshots Saxo FXCM
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo FXCM
Trust Score info 99 95
Year Founded info 1992 1999
Publicly Traded (Listed) info No Yes
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 4
Tier-2 Licenses info 0 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Saxo FXCM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info Yes No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo FXCM
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No Yes
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Saxo FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 440
Forex Pairs (Total) info 190 43 info
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 FXCM
Average Spread EUR/USD - Standard info 1.1 info 0.78 info
All-in Cost EUR/USD - Active info 0.9 info 0.78 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info Yes Yes
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding Saxo FXCM
Minimum Deposit info $0 Starts from $50
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No Yes
Trading Platforms Saxo FXCM
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No Yes info
Trading Tools Saxo FXCM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 60 13
Charting - Indicators / Studies (Total) info 64 115
Charting - Drawing Tools (Total) info 20 10
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo FXCM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 64 59
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research Saxo FXCM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No Yes
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Saxo FXCM
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Saxo FXCM
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Saxo Review FXCM Review
Overall Saxo FXCM
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 99 95
Winner check_circle
Review Saxo Review FXCM Review
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Saxo vs FXCM Comparison

Weโ€™ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Saxo vs FXCM.

Can I trust Saxo?

Saxo is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), zero tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Saxo 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), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), and regulated in the European Union via the MiFID passporting system.

Is Saxo good?

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience โ€“ as well as a stunning selection of over 40,000 securities.

Is FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

What is the minimum deposit requirement for opening an account with Saxo?

To open a trading account with Saxo, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with FXCM?

FXCM requires a minimum deposit of Starts from $50 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas FXCM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does Saxo or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is Saxo or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo holds 7 global Tier-1 licenses, while FXCM holds 4. FXCM holds 2 global Tier-2 licenses, while Saxo holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo (99) earned a higher Trust Score than FXCM (95).

Which trading platform is better: Saxo or FXCM?

To compare the trading platforms of both Saxo and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo offers a better experience. With research, Saxo offers superior market research. Finally, we found Saxo to provide better mobile trading apps.

Hereโ€™s what trading platforms are available at Saxo:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - Yes

Hereโ€™s what trading platforms are available at FXCM:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - Yes
  • TradingView - Yes

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FXCM offers MetaTrader 4 (MT4), while Saxo does not. Forex traders also appreciate the ability to engage in social copy trading. Saxo and FXCM both offer copy trading.

What can I trade with each broker?

Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to FXCM's 43 available pairs. If you are interested in trading a full range of securities, Saxo offers traders access to 70000 tradeable symbols, while FXCM offers access to 440 tradeable symbols; so Saxo offers 69560 more tradeable symbols than FXCM.

We found in our testing that Saxo offers a more diverse selection of investment options than FXCM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical).

Overall winner: Saxo

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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