To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare FXDD vs Saxo Bank.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Saxo Bank's score is 4.5 stars versus FXDD's 4 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. FXDD alongside Saxo Bank are regulated in a major hub. FXDD is a publicly traded company, Saxo Bank isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. FXDD trails Saxo Bank by 128 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and FXDD offering 54.
To round out our comparison of FXDD vs Saxo Bank, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. FXDD has Meta Trader, Saxo Bank doesn't. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. FXDD offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. FXDD offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 47 available indicators, a difference of 4.
Overall, Saxo Bank boasts 4.5 stars versus FXDD's 3.5 stars. And, when it comes to individual category awards, Saxo Bank finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while FXDD came up with none of these.