ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

Saxo Bank vs ThinkMarkets 2019

ForexBrokers.com

Is Saxo Bank better than ThinkMarkets? After grading forex brokers on nearly 100 different variables, Saxo Bank is better than ThinkMarkets. Traders seeking a large selection of instruments and asset classes across global financial markets will not be disappointed with the range of premium services Saxo Bank offers, including research, active trader pricing, and wealth management services that cater to investors’ needs. Saxo Bank was our #1 broker in multiple categories in 2019.

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 ThinkMarkets
Overall 4.5 3.5
Saxo Bank Review ThinkMarkets Review
69% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Saxo Bank ThinkMarkets
Trust Score 98 77
Year Founded
1992 2010
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 2
Tier-2 Licenses
1 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Tier-2 Licenses

Feature Saxo Bank ThinkMarkets
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
Yes No

Tier-3 Licenses

Feature Saxo Bank ThinkMarkets
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature Saxo Bank ThinkMarkets
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 40
CFDs - Total Offered
32999 192
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 3
Winner check_circle

Cost

Feature Saxo Bank ThinkMarkets
Average Spread EUR/USD - Standard
0.9 (as of Sep 18) N/A
All-in Cost EUR/USD - Active
0.6 (as of Jun 17) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4.5 3.5
Winner check_circle

Funding

Feature Saxo Bank ThinkMarkets
Minimum Initial Deposit
$2,000.00 $250.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature Saxo Bank ThinkMarkets
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature Saxo Bank ThinkMarkets
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
47 51
Charting - Drawing Tools (Total)
17 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 3.5
Winner check_circle

Mobile Trading

Feature Saxo Bank ThinkMarkets
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
41 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 4
Winner check_circle

Research

Feature Saxo Bank ThinkMarkets
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Trading / Copy-Trading
Yes Yes
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 3.5
Winner check_circle

Education

Feature Saxo Bank ThinkMarkets
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes Yes
Tutorials/Guide (PDF or Interactive)
Yes Yes
Education 4 3.5
Winner check_circle

Major Forex Pairs

Feature Saxo Bank ThinkMarkets
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
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature Saxo Bank ThinkMarkets
Saxo Bank Review ThinkMarkets Review
Overall 4.5 3.5
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare Saxo Bank vs ThinkMarkets.

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's score is 4.50 stars versus ThinkMarkets's 3.50 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 ThinkMarkets both are regulated in a major hub. Neither are publicly traded companies. How many currency pairs are available to trade? Saxo Bank offers its clients access to 182 different currency pairs while ThinkMarkets has 40 available pairs, a difference of 142.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. ThinkMarkets has Meta Trader, Saxo Bank doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. ThinkMarkets offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. ThinkMarkets offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 47 available indicators, a difference of 4.

Saxo Bank Review
ThinkMarkets Review


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.

arrow_drop_upBack to top