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Saxo Bank vs Markets.com 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is Saxo Bank better than Markets.com? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered Trusted, with an overall Trust Score of 99 out of 99. Markets.com is considered Highly Trusted, with an overall Trust Score of 96 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Saxo Bank Markets.com
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 4/5 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 info 99 96
Winner check_circle
Review Saxo Bank Review
Broker Screenshots Saxo Bank Markets.com
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo Bank Markets.com
Trust Score info 99 96
Year Founded info 1992 1999
Publicly Traded (Listed) info No Yes
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 3
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Saxo Bank Markets.com
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo Bank Markets.com
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Saxo Bank Markets.com
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 2179
Forex Pairs (Total) info 190 57
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 Bank Markets.com
Average Spread EUR/USD - Standard info 1.1 info 1.9 info
All-in Cost EUR/USD - Active info 0.9 info 1.9 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info Yes No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding Saxo Bank Markets.com
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Saxo Bank Markets.com
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Saxo Bank Markets.com
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes No
Watchlists - Total Fields info 60 6
Charting - Indicators / Studies (Total) info 64 89
Charting - Drawing Tools (Total) info 20 4
Charting - Trade From Chart info Yes No
Charts can be saved info Yes Yes
Mobile Trading Saxo Bank Markets.com
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 64 (default on MT4, none on Markets app)
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Economic Calendar info Yes No
Research Saxo Bank Markets.com
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Saxo Bank Markets.com
Education (Forex or CFDs) info Yes No
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs Saxo Bank Markets.com
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes No
AUD/USD info Yes Yes
Review Saxo Bank Review
Overall Saxo Bank Markets.com
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 3.5/5 Stars
Offering of Investments 5/5 Stars 4/5 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 info 99 96
Winner check_circle
Review Saxo Bank Review
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Saxo Bank vs Markets.com Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Saxo Bank vs Markets.com.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). 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), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Can I trust Markets.com?

Markets.com is publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulator (Average Risk), and one Tier-4 regulator (High Risk). Markets.com is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC).

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 Markets.com good?

Thanks to its web-based MarketsX platform, Markets.com is easy to use and new trader friendly. However, Markets.com is pricey and lacks the feature-rich trading tools required to compete with the best trading platforms.

What is the minimum deposit requirement for opening an account with Saxo Bank?

To open a trading account with Saxo Bank, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with Markets.com?

Markets.com requires a minimum deposit of $100 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo Bank offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas Markets.com provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw) and Neteller (Deposit/Withdraw)

Does Saxo Bank or Markets.com offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo Bank offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is Saxo Bank or Markets.com safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo Bank holds 7 global Tier-1 licenses, while Markets.com holds 3. Both Saxo Bank and Markets.com hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo Bank (99) earned a higher Trust Score than Markets.com (96).

Which trading platform is better: Saxo Bank or Markets.com?

To compare the trading platforms of both Saxo Bank and Markets.com, 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.

Here’s what trading platforms are available at Saxo Bank:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - Yes

Here’s what trading platforms are available at Markets.com:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Saxo Bank and Markets.com both offer copy trading.

What can I trade with each broker?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Markets.com's 57 available pairs. If you are interested in trading CFDs, Saxo Bank offers traders access to 70000 CFDs, while Markets.com offers access to 2179 CFDs; so Saxo Bank offers 67821 more CFDs than Markets.com.

We found in our testing that Saxo Bank offers a more diverse selection of investment options than Markets.com, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.

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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