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Saxo Bank vs FXCM 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than FXCM? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. FXCM is considered low-risk, with an overall Trust Score of 96 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankFXCM
Overall Rating 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 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 99 96
Winner check_circle
Review Saxo Bank Review FXCM Review
RegulationSaxo BankFXCM
Trust Score 99 96
Year Founded 1992 1999
Publicly Traded (Listed) No Yes
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 3
Tier-2 Licenses 1 3
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Saxo BankFXCM
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No Yes
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Saxo BankFXCM
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No Yes
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)Saxo BankFXCM
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsSaxo BankFXCM
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 440
Forex Pairs (Total) 190 41
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 (CFD) 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).
CostSaxo BankFXCM
Average Spread EUR/USD - Standard 0.9 info 1.38 info
All-in Cost EUR/USD - Active 0.7 info 1.38 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingSaxo BankFXCM
Minimum Deposit €2,000 Starts from $50
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankFXCM
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 No
cTrader No No
DupliTrade No No
ZuluTrade No Yes info
Trading ToolsSaxo BankFXCM
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 13
Charting - Indicators / Studies (Total) 62 59
Charting - Drawing Tools (Total) 20 10
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankFXCM
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes Yes
Mobile Charting - Indicators / Studies 62 59
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankFXCM
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
Economic Calendar Yes Yes
EducationSaxo BankFXCM
Has 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 PairsSaxo BankFXCM
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 Bank Review FXCM Review
OverallSaxo BankFXCM
Overall Rating 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 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 99 96
Winner check_circle
Review Saxo Bank Review FXCM Review
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Saxo Bank vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs FXCM.

Does Saxo Bank or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.

Is Saxo Bank or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while FXCM holds 3. FXCM holds 3 global Tier-2 licenses, while Saxo Bank holds 1. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than FXCM.

Which trading platform is better: Saxo Bank or FXCM?

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

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Saxo Bank and FXCM both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to FXCM's 41 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while FXCM has 440 available CFDs, a difference of 59560.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank 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) and the Financial Conduct Authority (FCA).

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Is Saxo Bank good?

Saxo Bank 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.

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.

Overall winner: Saxo Bank

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announcementPlease 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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