Written by ForexBrokers.com
In this head to head comparison of Saxo vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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When comparing Saxo and FXCM, it's important to consider their founding years, regulatory credentials, and trust scores. Saxo, established in 1992, is not publicly traded but operates as a bank, and holds an impressive seven Tier-1 licenses, indicating a high level of reliability. In contrast, FXCM, founded in 1999, is publicly traded but does not function as a bank. FXCM has four Tier-1 licenses, still suggesting a strong reputation, albeit not as extensive as Saxo's.
Both brokers hold additional Tier-2 licenses, with Saxo having one and FXCM holding two. When it comes to trust scores as rated by ForexBrokers.com, Saxo achieves a near-perfect rating of 99 out of 99, highlighting its strong standing in the industry. FXCM also boasts a solid score of 95, indicating that it is highly trusted, though slightly less than Saxo. Overall, both brokers are respected in the financial world, but Saxo edges out with a higher trust rating and more Tier-1 licenses.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Year Founded | 1992 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing Saxo and FXCM based on commissions and fees, both brokers have their unique offerings, but Saxo stands out with its competitive edge, especially for high-volume and active traders. Saxo delivers exceptional pricing for its clients—those trading high volumes or maintaining substantial account balances can enjoy some of the lowest costs in the industry. Its entry-level Classic account offers an average spread of 1.1 pips for the EUR/USD pair, while its more premium Platinum and VIP accounts provide even better pricing with average spreads of 1.0 and 0.9 pips, respectively. Saxo also encourages traders to opt into securities lending by waiving custody fees for share trading, enhancing its cost-efficiency. The broker operates on a commission-free model for forex, save for a nominal ticket fee for those trading below certain volumes.
FXCM, on the other hand, presents a slightly higher pricing model in the forex trading space compared to industry averages. For its standard accounts, spreads on the EUR/USD average 0.78 pips for regions like the EU, U.K., and Australia. FXCM also offers commission-based accounts with appealingly low average spreads of 0.28 pips, excluding any commissions. The broker implements an Active Trader Rebate Program, which provides potential rebates that can slightly mitigate costs, although these offers vary by region and trading activity. However, despite these discounts, FXCM's pricing still trails behind more competitive options like Tickmill and FP Markets. The requirements to benefit from these rebates, such as maintaining certain account balances and monthly trade volumes, also vary across its different global entities.
Overall, Saxo clients benefit from a highly favorable pricing structure, earning it a 5-star rating and a ranking of 9th out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com. In comparison, FXCM, with a 4-star rating and a ranking of 25th, provides a good but not leading value proposition. While both brokers have tailored options to appeal to different trading needs, Saxo clearly holds the advantage for those seeking lower fees and spreads.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average spread (EUR/USD) - Standard account | 1.0 | 0.9 |
| All-in Cost EUR/USD - Active | 0.8 | 0.8 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Saxo vs FXCM for range of investments, Saxo offers far wider market access with about 71,000 tradeable symbols and 190 forex pairs, while FXCM lists roughly 440 symbols and 46 pairs. Both brokers let you trade forex as CFDs or as spot. Saxo also lets clients buy exchange‑traded shares directly on U.S. and international stock exchanges, something FXCM does not provide. For crypto, both brokers offer trading via CFDs, and neither supports buying actual (delivered) cryptocurrency.
If copy trading matters, FXCM supports it while Saxo does not. Independent ratings reflect the gap in breadth: Saxo is rated 5 out of 5 stars for Range of Investments and ranks #3 out of 63 brokers at ForexBrokers.com, whereas FXCM earns 3.5 out of 5 stars and ranks #48. For traders who want the widest selection of markets and direct share dealing, Saxo is the stronger pick; for those who want copy trading and a simpler lineup, FXCM may suit.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 440 |
| Forex Pairs (Total) | 190 | 46 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 vs. FXCM: both brokers deliver strong trading platforms and tools. Each offers a free demo (paper trading) account, an in-house proprietary platform, and both Windows desktop and web-based platforms. You can also place trades directly from charts. In third-party testing, both earned 5 stars for Trading Platforms and Tools.
Key differences: FXCM supports copy trading and MetaTrader 4 (MT4), while Saxo does not. Neither broker offers MetaTrader 5 (MT5). If you want MT4 or built-in copy trading, FXCM is the better fit. If you prefer a polished proprietary platform experience, Saxo stands out—ForexBrokers.com ranks Saxo #1 out of 63 brokers for platforms and tools, while FXCM holds #6.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 61 | 115 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FXCM both offer full-featured mobile trading apps for iPhone and Android. Each app includes price alerts and watchlists that sync with your online account, so changes you make on your phone or desktop carry over automatically. Charting is strong on both: you can draw trendlines and your drawings auto-save. Saxo provides a slightly larger library of technical studies (64) compared with FXCM (59), which can matter if you rely on a wider set of indicators.
In independent testing by ForexBrokers.com, Saxo’s mobile app earned 5 stars and ranked #2 out of 63 brokers, while FXCM earned 4.5 stars and ranked #16. If you want the highest-rated mobile trading experience and the most technical studies, the Saxo mobile app has the edge. If you’re comfortable with a highly capable app that still covers alerts, syncing, and advanced charting, the FXCM mobile app remains a strong choice.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Saxo and FXCM, both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay informed with accurate information. Saxo stands out with its inclusion of Autochartist tools, enhancing its technical and fundamental analysis features. FXCM, on the other hand, offers research tools from Trading Central, which Saxo does not include, and provides market research from TipRanks, further diversifying its information sources.
Both Saxo and FXCM offer sentiment-based trading tools and comprehensive economic calendars tracking key global events. However, Saxo achieves a perfect 5-star rating for research, topping the charts at number one among 63 brokers according to ForexBrokers.com. FXCM, receiving a commendable 4.5-star rating, ranks at number eleven. While both brokers have their strengths, Saxo's broader variety of research tools and higher industry acclaim might appeal more to traders who prioritize comprehensive analysis tools.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo and FXCM both make forex and CFD education accessible for beginners. Each broker offers a sizable library of learning materials with at least 10 beginner-focused videos, and both host online client webinars at least once a month. When you’re ready to go further, each also provides 10+ advanced videos, so you can grow from basic concepts to more experienced strategies without switching providers.
For overall education quality, Saxo holds a slight edge: it’s rated 5 stars and ranks 13th out of 63 brokers on ForexBrokers.com. FXCM is close behind with a 4.5-star rating and a 14th-place ranking. In practical terms, both are strong choices for beginner traders seeking forex and CFD education, with Saxo edging ahead on overall polish while FXCM delivers very similar value with frequent webinars and a large video catalog.
| Feature |
Saxo
|
FXCM
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 FXCM. Saxo finished with an overall rank of #3, while FXCM finished with an overall rank of #15.
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
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FXCM
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| Trust Score | 99 | 95 |
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In a Saxo vs FXCM comparison for crypto, neither broker supports buying actual (delivered) cryptocurrencies, while both offer trading in cryptocurrency CFDs.
Compared with online broker Saxo, which only supports bank wire transfers and lacks ACH/SEPA, PayPal, or Skrill for deposits and withdrawals, FXCM offers broader funding options including ACH/SEPA, PayPal, Skrill, and bank wires.
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 | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Saxo Review | FXCM Review |
| Broker Screenshots | Saxo | FXCM | |
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| Regulation | Saxo | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1992 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA 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 | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 440 | |
| Forex Pairs (Total) | 190 | 46 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.0 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.8 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | FXCM | |
|---|---|---|---|
| Minimum Deposit | $0 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | FXCM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 115 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | FXCM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FXCM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | FXCM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | FXCM Review |
| Overall | Saxo | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Saxo Review | FXCM Review |
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