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Saxo Bank vs FXCM 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is Saxo Bank better than FXCM? In our analysis of 23 international regulators across 39 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 BankFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4 Stars4 Stars5 Stars
Trust Score999699
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ReviewSaxo Bank ReviewFXCM ReviewIG Review
RegulationSaxo BankFXCMIG
Trust Score999699
Year Founded199219991974
Publicly Traded (Listed)NoYesYes
BankYesNoYes
Tier-1 Licenses637
Tier-2 Licenses132
Tier-3 Licenses001
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Saxo BankFXCMIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)NoYesNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Saxo BankFXCMIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoYesNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoYesYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)YesNoYes
Tier-3 Licenses (Low Trust)Saxo BankFXCMIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsSaxo BankFXCMIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)6000044119537
Forex Pairs (Total)19044100
U.S. Stock Trading (Non CFD)YesYesYes
Int'l Stock Trading (Non CFD)YesYesYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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 BankFXCMIG
Average Spread EUR/USD - Standard0.9 (September 2022)1.38 (Q2 2022)0.86 (September 2022)
All-in Cost EUR/USD - Active0.7 (September 2022)1.38 (Q2 2022)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesYesYes
Execution: Market MakerYesYesYes
FundingSaxo BankFXCMIG
Minimum Initial Depositโ‚ฌ2,000Starts from $50ยฃ250.00
PayPal (Deposit/Withdraw)NoNoYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsSaxo BankFXCMIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
Trading ToolsSaxo BankFXCMIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields621214
Charting - Indicators / Studies (Total)625733
Charting - Drawing Tools (Total)202620
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingSaxo BankFXCMIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies625933
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveYesYesYes
Forex CalendarYesYesYes
ResearchSaxo BankFXCMIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistYesYesYes
Trading Central (Recognia)NoYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationSaxo BankFXCMIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsSaxo BankFXCMIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewSaxo Bank ReviewFXCM ReviewIG Review
OverallSaxo BankFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4 Stars4 Stars5 Stars
Trust Score999699
Winnercheck_circle
ReviewSaxo Bank ReviewFXCM ReviewIG Review
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Saxo Bank vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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, IG 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, IG 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 44 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while FXCM has 441 available CFDs, a difference of 59559.

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 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.

Overall winner: IG

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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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