Saxo Bank vs OctaFX Comparison
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 Saxo Bank vs OctaFX.
Does Saxo Bank or OctaFX 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 Saxo Bank or OctaFX 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. Saxo Bank holds 6 global Tier-1 licenses, while OctaFX holds 0. Both Saxo Bank and OctaFX hold [Variable A] global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than OctaFX.
Which trading platform is better: Saxo Bank or OctaFX?
To compare the trading platforms of both Saxo Bank and OctaFX, 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. Both Saxo Bank and OctaFX offer MetaTrader 4 (MT4).Saxo Bank and OctaFX both offer copy trading.
How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to OctaFX's 28 available pairs. Forex pairs aside, Saxo Bank offers traders access to 40000 CFDs while OctaFX has 52 available CFDs, a difference of 39948.
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).
Can I trust OctaFX?
OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).
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 OctaFX good?
OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.
Overall winner: Saxo Bank
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