Is Saxo Bank better than TD Ameritrade Forex? After testing 30 of the best forex brokers over five months, Saxo Bank is better than TD Ameritrade Forex. 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.
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Saxo Bank vs TD Ameritrade Forex 2020
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.
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Overall Rating
| Feature | Saxo Bank | TD Ameritrade Forex |
| Overall | ||
| Saxo Bank Review | TD Ameritrade Forex Review | |
| 71% of retail CFD accounts lose money | N/A of retail CFD accounts lose money |
Regulation
| Feature | Saxo Bank | TD Ameritrade Forex |
| Trust Score | 99 | 98 |
|
Year Founded |
1992 | 1955 |
|
Publicly Traded (Listed) |
No | Yes |
|
Bank |
Yes | Yes |
|
Tier-1 Licenses |
6 | 5 |
|
Tier-2 Licenses |
1 | 0 |
|
Tier-3 Licenses |
0 | 0 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | Saxo Bank | TD Ameritrade Forex |
|
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 | No |
|
FCA Authorised (UK) |
Yes | Yes |
|
CFTC Registered (USA) |
No | Yes |
Investments
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Forex: Spot Trading |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
Currency Pairs (Total Forex pairs) |
170 | 73 |
|
CFDs - Total Offered |
9000 | 0 |
|
Cryptocurrency traded as actual |
No | No |
|
Cryptocurrency traded as CFD |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Average Spread EUR/USD - Standard |
0.8 (August 2020) | 1.065 pips (Sep 2019) |
|
All-in Cost EUR/USD - Active |
0.6 (August 2020) | 1.065 pips (Sep 2019) |
|
Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Minimum Initial Deposit |
$10,000.00 | $0.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | No |
|
PayPal (Deposit/Withdraw) |
No | No |
|
Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | No |
|
MetaTrader 5 (MT5) |
No | No |
|
cTrader |
No | No |
Trading Tools
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
58 | 548 |
|
Charting - Indicators / Studies (Total) |
58 | 382 |
|
Charting - Drawing Tools (Total) |
19 | 20 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Trading - Forex |
Yes | Yes |
|
Trading - CFDs |
Yes | No |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | Yes |
|
Charting - Indicators / Studies |
58 | 348 |
|
Charting - Draw Trend Lines |
Yes | Yes |
|
Charting - Trend Lines Moveable |
Yes | No |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | Saxo Bank | TD Ameritrade Forex |
|
Daily Market Commentary |
Yes | Yes |
|
Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
No | No |
|
AutoChartist |
Yes | No |
|
Trading Central (Recognia) |
No | No |
|
Delkos Research |
No | No |
|
Social Sentiment - Currency Pairs |
Yes | No |
|
Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | Saxo Bank | TD Ameritrade Forex |
|
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 | Yes |
|
Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | Saxo Bank | TD Ameritrade Forex |
|
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 | TD Ameritrade Forex |
| Saxo Bank Review | TD Ameritrade Forex Review | |
| Overall | ||
| Winner | check_circle |
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 TD Ameritrade Forex.
Does Saxo Bank or TD Ameritrade Forex 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 TD Ameritrade Forex 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 TD Ameritrade Forex holds 5. Saxo Bank holds 1 global Tier-2 licenses, while TD Ameritrade Forex holds 0. All regulators considered, Saxo Bank has a Trust Score of 99.00, while TD Ameritrade Forex's Trust Score is 98.00.
Which trading platform is better: Saxo Bank or TD Ameritrade Forex?
To compare the trading platforms of both Saxo Bank and TD Ameritrade Forex, 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 TD Ameritrade Forex both offer copy trading. Saxo Bank offers MetaTrader 4 (MT4), while TD Ameritrade Forex does not.
How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 170 currency pairs (e.g., EUR/USD) compared to TD Ameritrade Forex's 73 available pairs. Forex pairs aside, Saxo Bank offers traders access to 9000 CFDs while TD Ameritrade Forex has 0 available CFDs, a difference of 9,000.
Overall, between Saxo Bank and TD Ameritrade Forex, Saxo Bank is the better forex broker.
Saxo Bank ReviewTD Ameritrade Forex Review
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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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