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Is Plus500 better than Saxo Bank? After scoring forex brokers on nearly 100 different variables,
Saxo Bank is better than Plus500. Traders seeking a large selection of instruments and asset classes across global financial markets will not be disappointed with the range of premium services Saxo Bank offers, including research, active trader pricing, and wealth management services that cater to investors’ needs. Saxo Bank was our #1 broker in multiple categories in 2019.
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.
To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare Plus500 vs Saxo Bank.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Saxo Bank is a better option with a 4.50 star rating over Plus500's 4.00 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both Plus500 and Saxo Bank are regulated in a major hub. Plus500 is a publicly traded company while Saxo Bank is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Saxo Bank boasts an offering of 182 different currency pairs compared to Plus500's 60 available pairs.
To round out our comparison of Plus500 vs Saxo Bank, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Neither Plus500 and Saxo Bank offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Saxo Bank offers its clients access to 17 charting tools while Plus500 has 0 charting tools, a difference of 17. Plus500 boasts an offering of 103 different indicators (for example, moving averages) compared to Saxo Bank's 47 available indicators.
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.
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).