Saxo Bank vs FXCM Review
Is FXCM better than Saxo Bank? After assessing forex brokers on nearly 100 different variables, Saxo Bank is better than FXCM. Traders seeking a large selection of instruments and asset classes across global financial markets will not be disappointed with the range of premium services Saxo Bank offers, including research, active trader pricing, and wealth management services that cater to investors’ needs. Saxo Bank was our #1 broker in multiple categories in 2019.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Saxo Bank is a better option with a 4.50 star rating over FXCM's 3.50 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXCM alongside Saxo Bank are regulated in a major hub. FXCM is a publicly traded company, while Saxo Bank is not. As far as how many currency pairs are available for trading, here's the answer. Saxo Bank boasts an offering of 182 different currency pairs compared to FXCM's 39 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXCM boasts an offering of 31 charting tools compared to Saxo Bank's 17 available charting tools. Saxo Bank trails FXCM by 4 total different indicators (for example, moving averages), with FXCM offering 51 and Saxo Bank offering 47.
Saxo Bank Review
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.