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Saxo Bank vs Plus500 2019

Is Plus500 better than Saxo Bank? After grading the best forex brokers on nearly 100 different variables, Saxo Bank is better than Plus500. For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.
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 Plus500
Overall 4.5 3
Saxo Bank Review Plus500 Review
72% of retail CFD accounts lose money 76.4% of retail CFD accounts lose money

Regulation

Feature Saxo Bank Plus500
Trust Score 98 97
Year Founded
1992 2008
Publicly Traded (Listed)
No Yes
Bank
Yes No
Tier-1 Licenses
6 2
Tier-2 Licenses
1 3
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank Plus500
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature Saxo Bank Plus500
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes No
Currency Pairs (Total Forex pairs)
182 50
CFDs - Total Offered
35000 2033
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 3.5
Winner check_circle

Cost

Feature Saxo Bank Plus500
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 0.6 (as of Aug 2018)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) N/A
Active Trader or VIP Discounts
Yes No
Commissions & Fees 4.5 4
Winner check_circle

Funding

Feature Saxo Bank Plus500
Minimum Initial Deposit
$10,000.00 €100
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 Plus500
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes No
MetaTrader 4 (MT4)
No No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature Saxo Bank Plus500
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 10
Charting - Indicators / Studies (Total)
55 103
Charting - Drawing Tools (Total)
19 21
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes No
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 2.5
Winner check_circle

Mobile Trading

Feature Saxo Bank Plus500
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
41 18
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 3
Winner check_circle

Research

Feature Saxo Bank Plus500
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 2.5
Winner check_circle

Education

Feature Saxo Bank Plus500
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes No
Education 4 1
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Major Forex Pairs

Feature Saxo Bank Plus500
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 Plus500
Saxo Bank Review Plus500 Review
Overall 4.5 3
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare Plus500 vs Saxo Bank.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Saxo Bank is a better option with a 4.50 star rating over Plus500's 4.00 star rating.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both Plus500 and Saxo Bank are regulated in a major hub. Plus500 is a publicly traded company, while Saxo Bank is not. How many currency pairs are available to trade? Plus500 trails Saxo Bank by 132 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and Plus500 offering 50.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Neither offers Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Plus500 boasts an offering of 21 charting tools compared to Saxo Bank's 19 available charting tools. Plus500 boasts an offering of 103 different indicators (for example, moving averages) compared to Saxo Bank's 55 available indicators.

Plus500 Review
Saxo Bank Review


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 web site as of 02/18/2019 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 link at the bottom of this page.

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Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

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