Written by ForexBrokers.com
In this head to head comparison of Saxo vs Plus500, 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 Plus500 both earn a 99/99 Trust Score from ForexBrokers.com, placing them in the highly trusted bracket. Saxo, founded in 1992, is a bank but not publicly traded. Plus500, founded in 2008, is publicly traded and not a bank.
Both brokers hold seven Tier-1 licenses (highly trusted per ForexBrokers.com). Saxo also holds one Tier-2 license, while Plus500 holds four Tier-2 licenses (Tier-2 is trusted). For context, ForexBrokers.com’s Trust Score is out of 99: 90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Year Founded | 1992 | 2008 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 4 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Saxo comes out ahead on commissions and fees, especially for active, high-volume, and well-funded traders. It earned 5 stars and ranked #8 out of 36 brokers for Commissions and Fees. Saxo is generally commission-free on forex and mainly earns through the spread, though traders who trade under 50,000 units a month pay a $3 per-side ticket fee. Its EUR/USD spreads in November 2023 averaged 1.1 pips for Classic, 1.0 pips for Platinum, and 0.9 pips for VIP, with the lower-tier Classic account sitting a bit above the industry average. The Classic account now has a $0 minimum deposit, while Platinum requires $200,000 and VIP requires $1,000,000, unless a trader qualifies through Saxo’s loyalty program.
Plus500’s pricing is a little higher than average and is less attractive for active traders. It received 4.0 stars and ranked #26 out of 36 brokers for Commissions and Fees. Plus500 does not offer retail discounts, though professional clients may qualify for cash rebates. Its EUR/USD spread averaged 1.5 pips in April 2024, which is higher than the industry average and also above Saxo’s pricing across its main account tiers.
In simple terms, Saxo is the lower-cost choice overall, while Plus500 is more middle-of-the-road on fees. If keeping trading costs down is a top priority, Saxo has the edge, especially for traders who can qualify for Platinum or VIP pricing.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €50 |
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | N/A | 1.3 |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo offers a wider range of investments than Plus500, making it the stronger choice for traders who want more variety in one account. Saxo lists about 71,000 tradeable symbols and 192 forex pairs, compared with Plus500’s 5,500 symbols and 65 forex pairs. Both brokers support forex trading as CFDs or spot contracts, and both let clients buy exchange traded securities on U.S. and international markets, such as Apple or Vodafone shares. Neither broker offers copy trading or the ability to buy delivered cryptocurrency, but both do provide cryptocurrency CFDs.
For range of investments, Saxo is rated 5 stars and ranks #3 out of 36 brokers on ForexBrokers.com, while Plus500 earns 4.5 stars and ranks #16. In simple terms, Plus500 covers the core markets well, but Saxo gives investors access to many more instruments and a much broader selection of forex pairs.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 5500 |
| Forex Pairs (Total) | 192 | 65 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
Saxo and Plus500 both offer a free demo account, along with a proprietary trading platform and a web-based platform you can use in your browser. Neither broker supports copy trading, MetaTrader 4, or MetaTrader 5. In this comparison, Saxo stands out with a Windows desktop platform and the ability to trade directly from a chart, while Plus500 does not offer a desktop download or chart-based trading.
For trading platforms and tools, Saxo is rated 5 out of 5 stars and ranks #3 out of 36 brokers at ForexBrokers.com, while Plus500 earns 4.5 out of 5 stars and ranks #14. Both brokers cover the basics well, but Saxo offers a few more tools for active traders who want extra platform flexibility.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 64 | 115 |
| Charting - Trade From Chart | Yes | No |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Plus500 both make it easy to trade on the go, with iPhone and Android apps, price alerts, watchlist syncing, and the ability to draw trendlines on charts. For everyday mobile use, both platforms cover the basics well and let users keep track of stocks or forex markets from their phones. Saxo also stands out by automatically saving chart drawings in its app, which can be helpful if you switch between devices or return to a chart later.
When it comes to charting tools and overall mobile app quality, Plus500 offers more technical studies, with 115 compared with Saxo’s 64. Even so, Saxo earns the higher mobile trading app rating at 5 stars and is ranked #3 out of 36 brokers by ForexBrokers.com, while Plus500 is rated 4.5 stars and ranked #14. In short, Plus500 may appeal to traders who want more chart indicators, but Saxo has the edge for mobile app experience and convenience.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 115 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Saxo has a stronger edge for market research overall. It offers daily market commentary, news from top-tier sources like Bloomberg, Reuters, and Dow Jones, plus Autochartist tools, an economic calendar, and a top Research rating of 5 stars. ForexBrokers.com ranks Saxo #1 out of 36 brokers for Research, which makes it a standout choice for traders who want more in-depth market insights.
Plus500 also covers the basics well, with daily market commentary and an economic calendar, and it adds Trading Central tools and a sentiment feature that shows long-versus-short positioning. However, it does not include top-tier news feeds, Autochartist, TipRanks, or Acuity Trading. Plus500 earns 4.5 stars for Research and ranks #16 out of 36, so it is useful for everyday research but offers fewer research options than Saxo.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning support for beginners, both Saxo and Plus500 provide a wide range of forex and CFDs education, including enough materials to clear the minimum threshold of 10 educational pieces on these topics. Each broker also offers online educational webinars at least once a month, plus at least 10 beginner-focused videos and 10 advanced videos, so new traders and more experienced users can both find useful content.
That said, Saxo comes out ahead in overall education quality. It is rated 5 stars for Education and ranks #12 out of 36 brokers at ForexBrokers.com, while Plus500 is rated 4.5 stars and ranks #27. For beginners choosing between the two, Saxo appears to offer the stronger learning experience, even though Plus500 still provides plenty of educational material to help traders get started.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| 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 Plus500. Saxo finished with an overall rank of #3, while Plus500 finished with an overall rank of #11.
Saxo is a 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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Plus500
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In a Saxo vs Plus500 comparison for crypto trading, neither online broker lets you buy actual delivered cryptocurrencies, but both offer cryptocurrency CFD trading.
Saxo and Plus500 both accept bank wire transfers and do not support ACH/SEPA funding, but Plus500 additionally offers PayPal and Skrill while Saxo does not.
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 | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Plus500 Review |
| Broker Screenshots | Saxo | Plus500 | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Saxo | Plus500 | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 2008 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 4 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Plus500 | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | 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 | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | Plus500 | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | Yes | |
| Jordan (JSC Authorised) |
| Investments | Saxo | Plus500 | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 5500 | |
| Forex Pairs (Total) | 192 | 65 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Saxo | Plus500 | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 1.3 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | Plus500 | |
|---|---|---|---|
| Minimum Deposit | $0 | €50 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| Trading Platforms | Saxo | Plus500 | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | Plus500 | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 115 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Plus500 | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 115 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | Plus500 | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Plus500 | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | Plus500 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | Saxo Review | Plus500 Review |
| Overall | Saxo | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Plus500 Review |
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