Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Markets.com 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 is a better option with a 4.50 star rating over Markets.com's 3.00 star rating.
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. Both Markets.com and Saxo Bank are regulated in a major hub. Markets.com is a publicly traded company, while Saxo Bank is not. How many currency pairs are available to trade? Markets.com trails Saxo Bank by 84 total currency pairs (for example, EUR/USD), with Saxo Bank offering 139 and Markets.com offering 55.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Markets.com 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 Markets.com by 14 total charting tools, with Markets.com offering 31 and Saxo Bank offering 17. Saxo Bank trails Markets.com by 6 total different indicators (for example, moving averages), with Markets.com offering 51 and Saxo Bank offering 45.
Overall, Saxo Bank takes the upper hand with 5.00 stars over Markets.com's 3.50 stars. And, when it comes to individual category awards, Saxo Bank finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while Markets.com came up with none of these.