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Saxo Bank vs Plus500 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than Plus500? 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. Plus500 is considered low-risk, with an overall trust score of 98 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankPlus500
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 98
Winner check_circle
Review Saxo Bank Review Plus500 Review
RegulationSaxo BankPlus500
Trust Score 99 98
Year Founded 1992 2008
Publicly Traded (Listed) No Yes
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 4
Tier-2 Licenses 1 4
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Saxo BankPlus500
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes Yes
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No Yes
Tier-2 Licenses (Average Trust)Saxo BankPlus500
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No Yes
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes Yes
Tier-3 Licenses (Low Trust)Saxo BankPlus500
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsSaxo BankPlus500
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 2800
Forex Pairs (Total) 190 65
U.S. Stock Trading (Non CFD) Yes Yes
Int'l Stock Trading (Non CFD) Yes Yes
Social Trading / Copy Trading Yes No
Cryptocurrency (Physical) 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account.
CostSaxo BankPlus500
Average Spread EUR/USD - Standard 0.9 info 0.8
All-in Cost EUR/USD - Active 0.7 info N/A
Active Trader or VIP Discounts Yes No
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankPlus500
Minimum Deposit €2,000 €100
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No No
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankPlus500
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes No
Web Platform Yes Yes
Social Trading / Copy Trading Yes No
MetaTrader 4 (MT4) No No
MetaTrader 5 (MT5) No No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsSaxo BankPlus500
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 9
Charting - Indicators / Studies (Total) 62 110
Charting - Drawing Tools (Total) 20 21
Charting - Trade From Chart Yes No
Charts can be saved Yes Yes
Mobile TradingSaxo BankPlus500
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes Yes
Mobile Charting - Indicators / Studies 62 110
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchSaxo BankPlus500
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes No
Autochartist Yes No
Trading Central (Recognia) No Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationSaxo BankPlus500
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes No
Major Forex PairsSaxo BankPlus500
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
Review Saxo Bank Review Plus500 Review
OverallSaxo BankPlus500
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 4/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 98
Winner check_circle
Review Saxo Bank Review Plus500 Review
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Saxo Bank vs Plus500 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 Plus500.

Does Saxo Bank or Plus500 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 Plus500 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 Plus500 holds 4. Plus500 holds 4 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 Plus500.

Which trading platform is better: Saxo Bank or Plus500?

To compare the trading platforms of both Saxo Bank and Plus500, 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.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Plus500's 65 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while Plus500 has 2800 available CFDs, a difference of 57200.

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 Plus500?

Plus500 is publicly traded and does not operate a bank. Plus500 is authorised by five tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Plus500 is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), and the Monetary Authority of Singapore (MAS).

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 Plus500 good?

Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.

Overall winner: Saxo Bank

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announcementPlease 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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