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Saxo Bank vs TD Ameritrade FX Review

Steven Hatzakis

Published by Steven Hatzakis


Tuesday, February 19th, 2019

Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Saxo Bank vs TD Ameritrade FX.

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 received a rating of 4.5 stars over TD Ameritrade FX's 4 stars.

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. Saxo Bank and TD Ameritrade FX both are regulated in a major hub. TD Ameritrade FX is a publicly traded company while Saxo Bank is not. How many currency pairs are available to trade? TD Ameritrade FX trails Saxo Bank by 107 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and TD Ameritrade FX offering 75.

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. TD Ameritrade FX boasts an offering of 20 charting tools compared to Saxo Bank's 17 available charting tools. TD Ameritrade FX offers its clients access to 403 different indicators (for example, volume) while Saxo Bank has 47 available indicators, a difference of 356.

Overall, both Saxo Bank and TD Ameritrade FX hold a 4.5 star rating. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Platforms & Tools in 2018, while Saxo Bank came up with Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
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% of retail CFD accounts that lose money
Overall
Offering of Investments
Commissions & Fees
Platform & Tools
Customer Service
Research
Mobile Trading
Education
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
Authorised in the European Union
FCA Regulated (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Advantage
All-in Cost EUR/USD - Active
Average Spread EUR/USD - Standard
Active Trader or Premium/VIP
Advantage
Proprietary
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader4 (MT4)
MetaTrader5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Advantage
Virtual Trading (Demo)
Watchlists - Total Fields
Alerts - Basic Fields
Charting - Trade From Chart
Charts can be saved
Charting - Drawing Tools (Total)
Charting - Indicators / Studies (Total)
Charting - Drawings Autosave
Order Type - Trailing Stop
Advantage
Android App
Apple iOS App
Forex News
Alerts - Basic Fields
Alerts Delivery - Push Notifications
Watch List
Watch List Syncing
Charting - Technical Studies/Indicators
Charting - Draw Trend Lines
Advantage
Daily Market Commentary
Forex News (Top-Tier Sources)
AutoChartist
Trading Central (Recognia)
Delkos Research
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Economic News Sentiment
Advantage
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
USDMXN (or MXNUSD)
USDNOK (or NOKUSD)
USDSEK (or SEKUSD)
USDTRY (or TRYUSD)
USDZAR (or ZARUSD)
USDDKK (or DKKUSD)
USDBRL (or BRLUSD)
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Overall
Advantage
Saxo Bank
Saxo Bank Review
74% of retail CFD accounts lose money.
 
4.5
4.5
4.5
4.5
4.5
4.5
4.5
4
 
94
1992
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
 
Yes
182
32999
No
No
check_circle
 
0.6
0.9
Yes
check_circle
 
Yes
Yes
Yes
Yes
No
No
No
No
No
No
check_circle
 
Yes
12
Yes
Yes
Yes
17
47
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
No
Yes
Yes
41
Yes
check_circle
 
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
No
 
$2,000.00
Yes
Yes
No
No
No
 
4.5
check_circle
TD Ameritrade FX
Get up to $600 + Trade Commission-Free for 60 Days Learn More
TD Ameritrade FX Review
N/A of retail CFD accounts lose money.
 
4.5
4
4
4.5
5
4.5
4
4
 
94
1955
Yes
Yes
No
Yes
Yes
Yes
No
No
Yes
Yes
Yes
No
No
No
 
Yes
75
0
No
No
 
N/A
N/A
Yes
 
Yes
Yes
No
Yes
No
No
No
No
No
No
 
Yes
506
Yes
Yes
Yes
20
403
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
397
No
 
Yes
Yes
No
No
No
Yes
No
Yes
No
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
 
Yes
Yes
No
No
No
Yes
No
 
$0.00
Yes
No
No
No
No
 
4.5

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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