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Saxo Bank vs ICM Capital 2019

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Is ICM Capital better than Saxo Bank? After assessing forex brokers on nearly 100 different variables, Saxo Bank is better than ICM Capital. 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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature Saxo Bank ICM Capital
Overall 4.5 3.5
Saxo Bank Review ICM Capital Review
69% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Saxo Bank ICM Capital
Trust Score 98 60
Year Founded
1992 2009
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 0
Tier-2 Licenses
1 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank ICM Capital
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Tier-2 Licenses

Feature Saxo Bank ICM Capital
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
Yes No

Tier-3 Licenses

Feature Saxo Bank ICM Capital
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature Saxo Bank ICM Capital
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 32
CFDs - Total Offered
32999 36
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No No
Offering of Investments 4.5 3
Winner check_circle

Cost

Feature Saxo Bank ICM Capital
Average Spread EUR/USD - Standard
0.9 (as of Sep 18) 1.3 (as of May 19)
All-in Cost EUR/USD - Active
0.6 (as of Jun 17) 0.9 (as of May 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4.5 3.5
Winner check_circle

Funding

Feature Saxo Bank ICM Capital
Minimum Initial Deposit
$2,000.00 $200.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No No
UnionPay (Deposit/Withdraw)
No No

Trading Platforms

Feature Saxo Bank ICM Capital
Proprietary Platform
Yes No
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes No
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No No
cTrader
No Yes

Trading Tools

Feature Saxo Bank ICM Capital
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
47 51
Charting - Drawing Tools (Total)
17 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 3
Winner check_circle

Mobile Trading

Feature Saxo Bank ICM Capital
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes No
Trading - CFDs
Yes No
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
41 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 3.5
Winner check_circle

Research

Feature Saxo Bank ICM Capital
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Trading / Copy-Trading
Yes Yes
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 3
Winner check_circle

Education

Feature Saxo Bank ICM Capital
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes Yes
Tutorials/Guide (PDF or Interactive)
Yes No
Education 4 1.5
Winner check_circle

Major Forex Pairs

Feature Saxo Bank ICM Capital
GBPUSD (or USDGBP)
Yes Yes
USDJPY (or JPYUSD)
Yes Yes
EURUSD (or USDEUR)
Yes Yes
USDCHF (or CHFUSD)
Yes Yes
USDCAD (or CADUSD)
Yes Yes
NZDUSD (or USDNZD)
Yes Yes
AUDUSD (or USDAUD)
Yes Yes
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature Saxo Bank ICM Capital
Saxo Bank Review ICM Capital Review
Overall 4.5 3.5
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare ICM Capital vs Saxo Bank.

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 received a rating of 4.50 stars over ICM Capital's 3.50 stars.

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. ICM Capital and Saxo Bank both are regulated in a major hub. ICM Capital nor Saxo Bank are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. ICM Capital trails Saxo Bank by 150 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and ICM Capital offering 32.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. ICM Capital 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. ICM Capital offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. ICM Capital boasts an offering of 51 different indicators (for example, moving averages) compared to Saxo Bank's 47 available indicators.

ICM Capital Review
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.

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