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Saxo Bank vs Swissquote 2020

Is Saxo Bank better than Swissquote? After testing 30 of the best forex brokers over five months, Saxo Bank is better than Swissquote. 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 Swissquote
Overall 5 4
Saxo Bank Review Swissquote Review
72% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Saxo Bank Swissquote
Trust Score 98 99
Year Founded
1992 1996
Publicly Traded (Listed)
No Yes
Bank
Yes Yes
Tier-1 Licenses
6 4
Tier-2 Licenses
1 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Investments

Feature Saxo Bank Swissquote
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 78
CFDs - Total Offered
35000 52
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
No No
Offering of Investments 5 4.5
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Cost

Feature Saxo Bank Swissquote
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) N/A
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 5 3.5
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Funding

Feature Saxo Bank Swissquote
Minimum Initial Deposit
$10,000.00 $1000.00
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 Swissquote
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No No

Trading Tools

Feature Saxo Bank Swissquote
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
55 49
Charting - Drawing Tools (Total)
19 16
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 5 4
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Mobile Trading

Feature Saxo Bank Swissquote
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes No
Watch List Syncing
Yes No
Charting - Indicators / Studies
41 30
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 4
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Research

Feature Saxo Bank Swissquote
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 5 4
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Education

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

Feature Saxo Bank Swissquote
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 Swissquote
Saxo Bank Review Swissquote Review
Overall 5 4
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Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs Swissquote.

Does Saxo Bank or Swissquote 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 Swissquote safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while Swissquote holds 4. Both Saxo Bank and Swissquote hold 1 global Tier-2 licenses. All regulators considered, Swissquote has a Trust Score of 99.00, while Saxo Bank's Trust Score is 98.00.

Which trading platform is better: Saxo Bank or Swissquote?
To compare the trading platforms of both Saxo Bank and Swissquote, 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. Saxo Bank and Swissquote both offer copy trading. Both Saxo Bank and Swissquote offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to Swissquote's 78 available pairs. Forex pairs aside, Saxo Bank offers traders access to 35000 CFDs while Swissquote has 52 available CFDs, a difference of 34,948.

Overall, between Saxo Bank and Swissquote, Saxo Bank is the better forex broker.

Saxo Bank Review
Swissquote Review


Trading CFDs, FX, and cryptocurrencies involve 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 01/20/2020 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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