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Saxo Bank vs TeleTrade 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than TeleTrade? 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. TeleTrade is considered high-risk, with an overall Trust Score of 67 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankTeleTrade
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 99 67
Winner check_circle
Review Saxo Bank Review
RegulationSaxo BankTeleTrade
Trust Score 99 67
Year Founded 1992 1994
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 6 0
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Saxo BankTeleTrade
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Saxo BankTeleTrade
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)Saxo BankTeleTrade
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 BankTeleTrade
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 500
Forex Pairs (Total) 190 61
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes Yes
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).
CostSaxo BankTeleTrade
Average Spread EUR/USD - Standard 0.9 info N/A
All-in Cost EUR/USD - Active 0.7 info N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankTeleTrade
Minimum Deposit €2,000 $100
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankTeleTrade
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No Yes
Trading ToolsSaxo BankTeleTrade
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 62 7
Charting - Indicators / Studies (Total) 62 35
Charting - Drawing Tools (Total) 20 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingSaxo BankTeleTrade
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 62 35
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes Yes
Forex Calendar Yes Yes
ResearchSaxo BankTeleTrade
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationSaxo BankTeleTrade
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes No
Major Forex PairsSaxo BankTeleTrade
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
OverallSaxo BankTeleTrade
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score 99 67
Winner check_circle
Review Saxo Bank Review
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Saxo Bank vs TeleTrade 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 TeleTrade.

Does Saxo Bank or TeleTrade 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 TeleTrade 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 TeleTrade holds 0. Both Saxo Bank and TeleTrade hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than TeleTrade.

Which trading platform is better: Saxo Bank or TeleTrade?

To compare the trading platforms of both Saxo Bank and TeleTrade, 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.Saxo Bank and TeleTrade both offer copy trading.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to TeleTrade's 61 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while TeleTrade has 500 available CFDs, a difference of 59500.

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 TeleTrade?

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by zero tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulator (low trust).

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 TeleTrade good?

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

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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