Written by ForexBrokers.com
In this head to head comparison of Saxo vs OANDA, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Saxo and OANDA are both well-regarded online brokers, but they have some differences in their regulatory backgrounds. Founded in 1992, Saxo operates as a bank and is not publicly traded. It holds a top-tier Trust Score of 99 from ForexBrokers.com, making it highly trusted based on its regulatory framework. Saxo has obtained seven Tier-1 licenses, which are the highest level of regulatory authorization, as well as one Tier-2 license, adding to its credibility.
OANDA, on the other hand, was established in 1996 and, unlike Saxo, is not a bank. It also remains privately held. With a Trust Score of 93, OANDA is similarly well-regarded and holds the same number of Tier-1 licenses, which amount to seven. However, OANDA lacks any Tier-2 licenses. Both brokers maintain strong regulatory standings, but Saxo slightly edges out OANDA in terms of overall trust and regulatory compliance due to its additional Tier-2 license and its status as a bank.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Year Founded | 1992 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo vs. OANDA on commissions and fees: Saxo earns 5/5 stars and ranks #9 of 63 for this category, while OANDA earns 4/5 stars and ranks #35 of 63. In general, Saxo offers more competitive pricing—especially for high-volume traders or those with larger balances—whereas OANDA’s costs tend to be higher, though it provides flexible trade sizes and an optional commission plan.
Saxo is commission-free on forex and profits from the spread. One exception applies: if you trade under 50,000 units in a month, there’s a $3-per-side ticket fee. Average EUR/USD spreads (Nov 2023) were 1.1 pips on Classic (minimum 0.9), 1.0 on Platinum, and 0.9 on VIP, with minimums roughly 0.2 pips below those averages. Classic now has a $0 minimum deposit, Platinum requires $200,000 (AUD 300,000 in Australia), and VIP is for deposits of $1,000,000 or qualifying trading volume via Saxo’s loyalty program. Saxo also waives custody fees for share trading if you opt into securities lending.
OANDA’s default spreads are generally higher; for example, the average EUR/USD spread was about 1.61 pips in July 2024. Its Core Pricing plan lowers spreads (e.g., to around 0.4 pips in the example) but adds a commission of $5 per side per $100,000 traded—about $10 per round turn—and requires a $10,000 minimum deposit; the example all-in cost comes to about 1.4 pips. OANDA supports trade sizes down to 1 unit, offers active-trader rebates of $5–$17 per million in eligible regions, and publishes a trailing average of its spreads for added transparency.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.0 | 1.69 |
| All-in Cost EUR/USD - Active | 0.8 | 1.69 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo vs OANDA: For sheer range of investments, Saxo leads with 71,000 tradeable symbols versus OANDA’s 4,172. Forex traders also get more choice at Saxo, with 190 currency pairs compared with OANDA’s 69. Both brokers let you trade forex as CFDs or spot, and both give access to exchange-traded stocks, so you can buy U.S. shares like Apple and international listings such as Vodafone.
When it comes to extras, OANDA includes copy trading and lets you buy actual cryptocurrency in addition to crypto CFDs, while Saxo sticks to crypto CFDs and does not offer copy trading. Reflecting the broader market lineup, ForexBrokers.com rates Saxo 5/5 stars and ranks it #3 of 63 for Range of Investments, while OANDA earns 4/5 stars and ranks #28.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 4172 |
| Forex Pairs (Total) | 190 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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). |
Dive deeper: Best Copy Trading Platforms.
Saxo vs OANDA: both brokers offer free demo (paper) trading, in-house platforms, a Windows desktop download, and a web-based platform. Each lets you place trades directly from charts. Key differences: OANDA supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and includes copy trading, while Saxo does not offer MT4/MT5 or copy trading. If you’re deciding between platform ecosystems, choose OANDA if MetaTrader and copy trading are must-haves; choose Saxo if you prefer a unified, in-house experience.
For Trading Platforms and Tools, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers, while OANDA earns 4 stars and ranks #15. In short, Saxo leads on overall platform quality, whereas OANDA stands out for MetaTrader access and social/copy features.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 61 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing the Saxo mobile app to the OANDA mobile app, both brokers deliver full-featured iPhone and Android experiences. You’ll get price alerts, the ability to draw trendlines on charts, and auto-saving for your chart markings. Both apps earned 5-star ratings for mobile trading, making them strong picks for trading stocks and forex on the go.
Key differences may sway your choice. Saxo syncs watchlists between the mobile app and your online account, while OANDA does not. For charting depth, Saxo offers 64 built-in technical studies versus OANDA’s 30, which can matter if you rely on indicators for decisions. Reflecting these strengths, ForexBrokers.com ranks Saxo #2 and OANDA #7 out of 63 brokers for Mobile Trading Apps.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and OANDA both deliver rich market research for everyday traders. Each offers daily market commentary, premium forex news from top sources like Bloomberg, Reuters, and Dow Jones, Autochartist tools for technical and fundamental insights, a sentiment tool showing long vs. short positioning, and a clear economic calendar. Neither broker includes Trading Central, TipRanks, or Acuity Trading integrations.
According to ForexBrokers.com, both Saxo and OANDA earn 5 stars for Research, with Saxo ranked #1 out of 63 brokers and OANDA ranked #4. If you want the top-ranked research experience, Saxo edges ahead; if you prefer a similar tool set within a different platform, OANDA is a strong alternative.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing Saxo and OANDA for beginner trading education, both brokers make it easy to get started. Each runs online client webinars at least once a month and offers a sizable set of beginner-friendly video lessons (10+), helping you learn the basics step-by-step. When you’re ready to go deeper, both also provide 10+ advanced videos so you can continue building skills in the same place.
In third-party reviews, both Saxo and OANDA earn 5 stars for Education. If rankings matter, ForexBrokers.com places Saxo slightly higher (#13 of 63) than OANDA (#19 of 63). In practical terms, beginners will find strong learning support at either broker, with Saxo getting a small edge in the overall standings.
| Feature |
Saxo
|
OANDA
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than OANDA. Saxo finished with an overall rank of #3, while OANDA finished with an overall rank of #12.
Saxo 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.
| Feature |
Saxo
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OANDA
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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In the Saxo vs OANDA comparison, OANDA allows you to buy actual (delivered) cryptocurrency and trade cryptocurrency CFDs, while Saxo offers only cryptocurrency CFDs and does not support purchasing real crypto.
Compared to Saxo, which supports only bank wire transfers and not ACH/SEPA, PayPal, or Skrill for deposits and withdrawals, OANDA offers broader funding options including ACH/SEPA, PayPal, Skrill, and bank wires.
Please 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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0 of 5| Overall Rating | Saxo | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | OANDA Review |
| Broker Screenshots | Saxo | OANDA | |
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| Regulation | Saxo | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1992 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 4172 | |
| Forex Pairs (Total) | 190 | 69 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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 | OANDA | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.0 | 1.69 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | OANDA | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | OANDA Review |
| Overall | Saxo | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | OANDA Review |
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