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Saxo Bank vs OANDA 2021

Is OANDA better than Saxo Bank? In our analysis of 23 international regulators across 39 brokers, OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.


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 OANDA
Overall 5 4.5
Commissions & Fees 4.5 3.5
Offering of Investments 5 3
Platforms & Tools 5 4
Mobile Trading Apps 5 4.5
Research 5 4.5
Education 4 3.5
Trust Score 99 92
Saxo Bank Review OANDA Review
67% of retail CFD accounts lose money 76.6% of retail CFD accounts lose money
Winner check_circle

Regulation

Feature Saxo Bank OANDA
Trust Score 99 92
Year Founded
1992 1996
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 6
Tier-2 Licenses
1 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature Saxo Bank OANDA
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
Yes No
CBI Authorised (Ireland)
No No
FSA Authorised (Japan)
Yes Yes
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No Yes
FMA Authorised (New Zealand)
No No

Tier-2 Licenses (Average Trust)

Feature Saxo Bank OANDA
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
SEBI Authorised (India)
No No
ISA Authorised (Israel)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
Yes No

Tier-3 Licenses (Low Trust)

Feature Saxo Bank OANDA
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
Cayman Islands Monetary Authority (CIMA)
No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No Yes
FSC Authorised (Mauritius)
No No
VFSC Authorised (Vanuatu)
No No

Investments

Feature Saxo Bank OANDA
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
40000 124
Forex Pairs (Total)
182 71
US Stock Trading (Non CFD)
Yes No
Int'l Stock Trading (Non CFD)
Yes No
Social Trading / Copy-Trading
Yes Yes
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes Yes
Crypto Disclaimer (UK) 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

Feature Saxo Bank OANDA
Average Spread EUR/USD - Standard
0.8 (August 2020) 1.4 (August 2021)
All-in Cost EUR/USD - Active
0.6 (August 2020) 1.4 (August 2021)
Active Trader or VIP Discounts
Yes Yes
Execution: Agency Broker
Yes No
Execution: Market Maker
Yes Yes

Funding

Feature Saxo Bank OANDA
Minimum Deposit
$2,000.00 $0.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

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

Trading Tools

Feature Saxo Bank OANDA
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
62 6
Charting - Indicators / Studies (Total)
62 81
Charting - Drawing Tools (Total)
20 431
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes

Mobile Trading

Feature Saxo Bank OANDA
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
62 33
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature Saxo Bank OANDA
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Autochartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Saxo Bank OANDA
Has Education - Forex or CFDs
Yes Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature Saxo Bank OANDA
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 OANDA
Overall 5 4.5
Commissions & Fees 4.5 3.5
Offering of Investments 5 3
Platforms & Tools 5 4
Mobile Trading Apps 5 4.5
Research 5 4.5
Education 4 3.5
Trust Score 99 92
Saxo Bank Review OANDA Review

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare OANDA vs Saxo Bank.

Does OANDA or Saxo Bank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.

Is OANDA or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both OANDA and Saxo Bank hold 6 global Tier-1 licenses. Saxo Bank holds 1 global Tier-2 licenses, while OANDA holds 0. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than OANDA.

Which trading platform is better: OANDA or Saxo Bank?
To compare the trading platforms of both OANDA and Saxo Bank, 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.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. OANDA and Saxo Bank both offer copy trading. Both OANDA and Saxo Bank offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to OANDA's 71 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while OANDA has 124 available CFDs, a difference of 39,876.

Can I trust OANDA?
OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Can I trust Saxo Bank?
Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). 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) and the Financial Conduct Authority (FCA).

Is OANDA good?
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

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.

Overall winner: Saxo Bank

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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 website as of 01/10/2022 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 "Contact" link at the bottom of this page.

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OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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