Written by ForexBrokers.com
In this head to head comparison of Saxo vs FxPro, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Comparing Saxo and FxPro, two well-known online brokers, reveals key distinctions in their regulatory credentials and levels of trust. Saxo, established in 1992, operates as a bank and isn’t publicly traded. It holds an impressive 7 Tier-1 licenses, which are indicators of high trust, according to ForexBrokers.com. This commitment to compliance is reflected in Saxo's near-perfect Trust Score rating of 99. In contrast, FxPro, founded in 2006, is also a non-publicly traded bank, but it maintains 2 Tier-1 licenses along with 1 Tier-2 license, earning a solid Trust Score of 93.
Both Saxo and FxPro possess Tier-2 licenses, demonstrating reliability in meeting global regulatory standards. Yet, Saxo's greater number of Tier-1 licenses positions it as highly trustworthy in the financial markets, offering peace of mind to clients seeking enhanced security and stability. FxPro, with its commendable level of trust and adherence to regulatory measures, still stands as a reliable broker choice for those navigating the forex landscape.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Year Founded | 1992 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | Yes |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Saxo Bank offers notably competitive pricing, especially for active traders and those who can maintain larger account balances. As of November 2023, Saxo's average spreads for the EUR/USD pair are 1.1, 1.0, and 0.9 pips for its Classic, Platinum, and VIP accounts, respectively. Notably, while the Classic account's pricing is slightly higher than the industry average, the Platinum and VIP accounts align more closely with industry norms. For forex trading, Saxo operates commission-free, earning through spreads, except for small-volume traders who face a $3 per side fee. Saxo garners a 5-star rating and holds the #9 position out of 62 brokers for commissions and fees, highlighting its efficiency.
FxPro's fee structure is less competitive when compared to leading brokers like Saxo. FxPro's floating rate spread on the EUR/USD pair is higher, with MT4 and MT5 spreads of 1.58 and 1.51 pips, respectively. The cTrader platform offers more competitive spreads at approximately 1.27 pips, accounting for an average spread and commission factor. While FxPro does provide an Active Trader Program with discounts, it's still less advantageous compared to top competitors such as Saxo, FOREX.com, and IG. Earning a 4-star rating, FxPro ranks #32 out of 62 brokers for commissions and fees according to ForexBrokers.com, indicating room for improvement in competing with lower-cost options.
For those prioritizing low-cost commissions and fees, Saxo emerges as a compelling choice thanks to its efficient pricing structure and broad appeal to high-volume traders. By contrast, FxPro, despite offering various account executions and platforms, does not match Saxo's competitive edge on pricing or overall value. However, its cTrader platform does provide a viable option for those who specifically seek variable spreads with commission-based pricing.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.51 |
| All-in Cost EUR/USD - Active | 0.9 | 1.27 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by online brokers Saxo and FxPro, Saxo clearly takes the spotlight with an impressive 70,000 tradeable symbols. In contrast, FxPro provides access to 2,249 symbols. In terms of forex trading, both brokers offer participation, but Saxo offers a significantly wider selection with 190 forex pairs compared to FxPro’s 70. Those looking to trade exchange-traded securities on U.S. exchanges will find more options with Saxo, as it allows purchases such as shares of Apple. While both brokers enable trading on international exchanges, Saxo again exceeds expectations with more comprehensive offerings.
For cryptocurrency investors, neither Saxo nor FxPro supports purchasing actual cryptocurrencies; however, they both provide the ability to trade cryptocurrency derivatives. Both brokers offer copy trading capabilities, making them suitable options for those interested in mirroring experienced traders. Saxo stands out with a 5-star rating for its range of investments and ranks #3 out of 62 brokers in this category, as assessed by ForexBrokers.com. FxPro, while still commendable, is rated 4 stars and ranked #28, demonstrating that Saxo provides a more extensive selection for diversified investment portfolios.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 2249 |
| Forex Pairs (Total) | 190 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When it comes to trading platforms and tools, Saxo and FxPro both offer noteworthy features that cater to traders' needs. Saxo stands out with its superior platform tools, reflected in its number one ranking by ForexBrokers.com and a stellar five-star rating. The broker provides a seamless trading experience with its proprietary platform, accessible across both desktop and web configurations. In addition, Saxo supports simulated trading with a virtual demo account, making it ideal for both new and experienced traders who want to hone their skills. With 60 fields available for watch lists and the ability to trade directly from stock charts, Saxo gives users an extensive range of functionalities to optimize their trading strategies.
FxPro, while highly rated with four stars and placed at the 18th position by ForexBrokers.com, also impresses with a comprehensive suite of trading tools. Like Saxo, FxPro offers a proprietary platform along with the popular MetaTrader 4 and 5 platforms, providing versatility for traders who prefer these widely used systems. FxPro includes a Windows download platform, a web-based alternative, and supports demo accounts for practice trading. In terms of charting, FxPro offers more drawing tools with 25 options and also facilitates trading directly from charts. However, it provides fewer customization options in watch lists with only six fields. Overall, both brokers present unique strengths, but Saxo’s diverse features and top ranking give it an edge in the realm of online trading platforms.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 53 |
| Charting - Drawing Tools (Total) | 20 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Saxo and FxPro have you covered with iPhone and Android offerings. Users can receive stock and forex price alerts on each platform, while watchlist symbol syncing ensures seamless integration, allowing changes to be reflected across both the app and online account. With Saxo providing 64 technical studies and FxPro offering 65, traders have a wealth of tools at their disposal for crafting informed strategies. Both platforms also support drawing trendlines and viewing charts across different time frames, such as daily or weekly, with autosaving functionality that keeps your annotations intact.
For traders keen on tracking the market closely, Saxo and FxPro allow the creation of watchlists with real-time quotes. Despite their similarities, Saxo edges out slightly in overall ratings. Saxo boasts a perfect 5-star rating for its mobile trading apps and ranks #2 out of 62 brokers, as per ForexBrokers.com assessments. FxPro, meanwhile, is rated at 4.5 stars, finding its place at #15 in the same category. Whether you choose Saxo or FxPro, both platforms aim to deliver a feature-rich trading experience that caters to a range of investment needs.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 65 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Saxo and FxPro provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. However, their offerings differ in terms of technical analysis tools. Saxo features tools from Autochartist, while FxPro provides services from Trading Central. Both brokers offer sentiment-based trading tools and comprehensive economic calendars for tracking global news events, but neither includes resources from Acuity Trading or market research from TipRanks.
Saxo stands out with a top-notch rating of 5 stars for research, securing the number one spot among 62 brokers on ForexBrokers.com. In comparison, FxPro is rated 4 stars and ranks 27th. Saxo's higher ratings reflect its extensive and varied research resources, making it a preferred choice for traders seeking comprehensive market insights.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those new to online trading, Saxo and FxPro both provide a wealth of educational resources, but there are notable differences in their offerings. Both brokers exceed the minimum requirement of providing at least 10 pieces of educational content, such as articles, videos, and archived webinars focusing on forex or CFDs, making them supportive options for new investors. However, Saxo takes a step further by offering online educational webinars each month, a feature FxPro does not provide. Additionally, both platforms offer a searchable archive of recorded webinars, but Saxo offers a more comprehensive educational experience with advanced trading video content for experienced traders, a feature not offered by FxPro.
Saxo and FxPro each provide investor dictionaries containing over 50 investment terms, helping traders familiarize themselves with industry jargon. Still, it's evident that Saxo's educational support comes out on top, as demonstrated by its higher 5-star education rating compared to FxPro's 4-star rating. Furthermore, Saxo ranks 13th out of 62 brokers for education on ForexBrokers.com, while FxPro ranks 17th, indicating a broader and more in-depth educational offering for beginners and more advanced traders alike.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Saxo is better than FxPro. Saxo finished with an overall rank of #3, while FxPro finished with an overall rank of #21.
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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FxPro
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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Both Saxo and FxPro do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers Saxo and FxPro, Saxo offers Visa, Mastercard, and bank wires, but lacks ACH, SEPA, PayPal, and Skrill, while FxPro supports ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, providing users with a more versatile range of transaction methods.
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 | FxPro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | FxPro Review |
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| Regulation | Saxo | FxPro | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1992 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FxPro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| 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 | FxPro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 2249 | |
| Forex Pairs (Total) | 190 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | FxPro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.51 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.27 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FxPro | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | FxPro | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 6 | |
| Charting - Indicators / Studies (Total) | 64 | 53 | |
| Charting - Drawing Tools (Total) | 20 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FxPro | |
|---|---|---|---|
| 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 | 64 | 65 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | FxPro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FxPro | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | FxPro | |
|---|---|---|---|
| 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 Review | FxPro Review |
| Overall | Saxo | FxPro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | FxPro Review |
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