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Saxo Bank vs OctaFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than OctaFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. OctaFX is considered high-risk, with an overall Trust Score of 69 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Saxo Bank OctaFX
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 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 69
Winner check_circle
Review Saxo Bank Review OctaFX Review
Broker Screenshots Saxo Bank OctaFX
Trading Platforms Gallery (click to expand) info
Research Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo Bank OctaFX
Trust Score info 99 69
Year Founded info 1992 2011
Publicly Traded (Listed) info No No
Bank info Yes No
European Union Authorised (MiFID) info Yes info Yes info
Tier-1 Licenses info 6 0
Tier-2 Licenses info 1 2
Tier-3 Licenses info 0 0
Tier-1 Licenses (High Trust) Saxo Bank OctaFX
Australia (ASIC Authorised) info Yes No
Canada (SRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
CBI Authorised (Ireland) info No 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
Tier-2 Licenses (Average Trust) Saxo Bank OctaFX
China (CBRC Authorised) info No No
Cyprus (CySEC Authorised) info No Yes
India (SEBI Authorised) info No No
Israel (ISA Authorised) info No No
Russia (CBR Authorised) info No No
South Africa (FSCA Authorised) info No Yes
Thailand (SEC Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
Tier-3 Licenses (Low Trust) Saxo Bank OctaFX
Bahamas (SCB Authorised) info No No
Belize (FSC Authorised) info No No
Cayman Islands (CIMA Authorised) info No No
Bermuda (BMA Authorised) info No No
British Virgin Islands (FSC Authorised) info No No
Mauritius (FSC Authorised) info No No
Vanuatu (VFSC Authorised) info No No
Investments Saxo Bank OctaFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 60000 229
Forex Pairs (Total) info 190 40
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 (CFD) 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 OctaFX
Average Spread EUR/USD - Standard info 0.9 info 0.9 info
All-in Cost EUR/USD - Active info 0.7 info N/A
Active Trader or VIP Discounts info Yes No
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding Saxo Bank OctaFX
Minimum Deposit info โ‚ฌ2,000 $25
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 OctaFX
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 OctaFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 62 7
Charting - Indicators / Studies (Total) info 62 30
Charting - Drawing Tools (Total) info 20 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo Bank OctaFX
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 No
Mobile Charting - Indicators / Studies info 62 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Forex Calendar info Yes Yes
Research Saxo Bank OctaFX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Saxo Bank OctaFX
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Saxo Bank OctaFX
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 Yes
AUD/USD info Yes Yes
Review Saxo Bank Review OctaFX Review
Overall Saxo Bank OctaFX
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 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 69
Winner check_circle
Review Saxo Bank Review OctaFX Review
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Saxo Bank vs OctaFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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. OctaFX holds 2 global Tier-2 licenses, while Saxo Bank holds 1. 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. Neither broker offers Meta Trader.Saxo Bank and OctaFX both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while OctaFX has 229 available CFDs, a difference of 59771.

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), two tier-2 regulators (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 โ€“ 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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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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