To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare Saxo Bank vs ThinkMarkets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Saxo Bank received a rating of 4.50 stars over ThinkMarkets's 4.00 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Saxo Bank alongside ThinkMarkets are regulated in a major hub. Saxo Bank nor ThinkMarkets are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Saxo Bank offers its clients access to 182 different currency pairs while ThinkMarkets has 33 available pairs, a difference of 149.
To round out our comparison of Saxo Bank vs ThinkMarkets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. ThinkMarkets makes Meta Trader available to clients, while Saxo Bank does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Saxo Bank trails ThinkMarkets by 14 total charting tools, with ThinkMarkets offering 31 and Saxo Bank offering 17. ThinkMarkets offers its clients access to 51 different indicators (for example, volume) while Saxo Bank has 45 available indicators, a difference of 6.
Overall, Saxo Bank boasts 5.00 stars versus ThinkMarkets's 4.00 stars. And, when it comes to individual category awards, Saxo Bank finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while ThinkMarkets came up with none of these.