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Saxo Bank vs iTrader 2019

Is iTrader better than Saxo Bank? After grading forex brokers on nearly 100 different variables, Saxo Bank is better than iTrader. 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 iTrader
Overall 4.5 3
Saxo Bank Review iTrader Review
69% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Saxo Bank iTrader
Trust Score 98 66
Year Founded
1992 2012
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 0
Tier-2 Licenses
1 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank iTrader
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 No
CFTC Registered (USA)
No No

Investments

Feature Saxo Bank iTrader
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes No
Currency Pairs (Total Forex pairs)
182 50
CFDs - Total Offered
35000 260
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 3
Winner check_circle

Cost

Feature Saxo Bank iTrader
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 0.7 (as of May 19)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) 1.3 (as of May 19)
Active Trader or VIP Discounts
Yes No
Commissions & Fees 4.5 3
Winner check_circle

Funding

Feature Saxo Bank iTrader
Minimum Initial Deposit
$10,000.00 $250
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No No

Trading Platforms

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

Trading Tools

Feature Saxo Bank iTrader
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
55 51
Charting - Drawing Tools (Total)
19 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 2
Winner check_circle

Mobile Trading

Feature Saxo Bank iTrader
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
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 Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 3
Winner check_circle

Research

Feature Saxo Bank iTrader
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
Yes Yes
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 2.5
Winner check_circle

Education

Feature Saxo Bank iTrader
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 3.5
Winner check_circle

Major Forex Pairs

Feature Saxo Bank iTrader
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

Overall

Feature Saxo Bank iTrader
Saxo Bank Review iTrader Review
Overall 4.5 3
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare iTrader vs Saxo Bank.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Saxo Bank received a rating of 4.50 stars over iTrader's 3.00 stars.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Saxo Bank is regulated in a major hub, while iTrader is not. iTrader nor Saxo Bank are publicly traded companies. How many currency pairs are available to trade? iTrader trails Saxo Bank by 135 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and iTrader offering 47.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. iTrader makes Meta Trader available to clients, while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Saxo Bank trails iTrader by 14 total charting tools, with iTrader offering 31 and Saxo Bank offering 17. Saxo Bank trails iTrader by 4 total different indicators (for example, moving averages), with iTrader offering 51 and Saxo Bank offering 47.

iTrader 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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