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Saxo Bank vs GKFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than GKFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. GKFX is considered high-risk, with an overall Trust Score of 66 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankGKFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 66
Winner check_circle
Review Saxo Bank Review
RegulationSaxo BankGKFX
Trust Score 99 66
Year Founded 1992 2013
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 0
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Saxo BankGKFX
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Saxo BankGKFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No No
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)Saxo BankGKFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsSaxo BankGKFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 354
Forex Pairs (Total) 190 47
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostSaxo BankGKFX
Average Spread EUR/USD - Standard 0.9 info N/A info
All-in Cost EUR/USD - Active 0.7 info N/A info
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankGKFX
Minimum Deposit €2,000 $0
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No No
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankGKFX
Proprietary Platform Yes No
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 No
DupliTrade No No
ZuluTrade No No
Trading ToolsSaxo BankGKFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 7
Charting - Indicators / Studies (Total) 62 30
Charting - Drawing Tools (Total) 20 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankGKFX
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 62 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankGKFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist Yes Yes
Trading Central (Recognia) No Yes
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationSaxo BankGKFX
Has 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 PairsSaxo BankGKFX
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 Bank Review
OverallSaxo BankGKFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 66
Winner check_circle
Review Saxo Bank Review
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Saxo Bank vs GKFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs GKFX.

Does Saxo Bank or GKFX 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, Saxo Bank offers better pricing overall for traders.

Is Saxo Bank or GKFX 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 GKFX holds 0. Both Saxo Bank and GKFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than GKFX.

Which trading platform is better: Saxo Bank or GKFX?

To compare the trading platforms of both Saxo Bank and GKFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank 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 GKFX 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 GKFX's 47 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while GKFX has 354 available CFDs, a difference of 59646.

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 GKFX?

GKFX is not publicly traded, does not operate a bank, and is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

Is Saxo Bank good?

Saxo Bank 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.

Is GKFX good?

GKFX is a MetaTrader-only broker that is only licensed in the EU, via its MFSA-regulated Malta entity, which is why it's Trust Score is lower than other brokers that hold multiple licenses in top-tier regulatory hubs. Otherwise, GKFX does offer competitive pricing on its Prime Plus account, if you can afford the $15,000 deposit.

Overall winner: Saxo Bank

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announcementPlease 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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