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 cater to traders looking for innovation and ease of use. Both brokers offer simulated trading with free virtual demo accounts, providing an excellent start for beginners. They each have a proprietary platform developed in-house and support trading through Windows-based desktop and web-based platforms. Additionally, both Saxo and FxPro facilitate trading directly from stock charts and support copy trading features. However, Saxo takes it a step further by offering more charting drawing tools with 20 options compared to FxPro's 25 and a highly customizable watch list feature with 60 columns, significantly more than FxPro's 6.
In terms of third-party software, Saxo does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), focusing solely on its proprietary platforms, while FxPro offers both MT4 and MT5. Neither broker provides DupliTrade or ZuluTrade. Despite these differences, Saxo is highly rated, scoring 5 stars for its trading platforms and tools, earning the top spot among 62 brokers on ForexBrokers.com. FxPro, while still a strong contender with a 4-star rating, ranks 17th overall. This makes Saxo a favored choice for those seeking advanced trading tools and comprehensive platform features.
| 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.
Saxo and FxPro both excel in providing daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters. However, while Saxo features technical analysis tools from Autochartist, FxPro lacks this offering. Meanwhile, FxPro adds value with analytics from Trading Central, a service not available with Saxo. Both brokers provide sentiment-based trading tools and comprehensive economic calendars to keep you informed about global financial events. Neither Saxo nor FxPro offer research tools from TipRanks or Acuity Trading.
Overall, Saxo claims the top spot with a five-star rating for research, as it holds the first rank among 62 brokers in the research category, according to ForexBrokers.com. FxPro, although well-equipped with a four-star rating, ranks 26th, showcasing a broad selection but still lagging in some specific offerings compared to Saxo. Whether you prioritize advanced analysis tools or a blend of varied resources, both brokers offer solid market research options catering to different trading needs.
| 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.
When it comes to catering to beginners looking to learn about forex or CFDs, both Saxo and FxPro step up by offering over 10 informative resources, covering articles, videos, and archived webinars. However, Saxo pulls ahead by providing interactive online webinars at least once a month, helping learners grasp complex trading concepts in real time. In contrast, FxPro does not offer such live sessions, which might be a crucial aspect for those who prefer real-time interaction.
Additionally, Saxo boasts a broader range of materials for advanced traders compared to FxPro. Both platforms offer searchable archives of past webinars and comprehensive investor dictionaries, but Saxo features a larger collection of advanced trading videos, making it a more versatile option for seasoned enthusiasts. This extensive educational focus earns Saxo a top-tier education rating of 5 stars and a commendable 13th rank out of 62 brokers, compared to FxPro's 4 stars and 18th position. Whether you are starting out or looking to refine your trading strategy, Saxo offers a richer educational experience.
| 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
|
|---|---|---|
| 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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