After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Saxo Bank vs TickMill.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Saxo Bank's score is 4.50 stars versus TickMill's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Both Saxo Bank and TickMill are regulated in a major hub. Saxo Bank nor TickMill are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. TickMill trails Saxo Bank by 120 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and TickMill offering 62.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. TickMill has Meta Trader, Saxo Bank doesn't. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. TickMill offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. Saxo Bank trails TickMill by 6 total different indicators (for example, moving averages), with TickMill offering 51 and Saxo Bank offering 45.
Overall, Saxo Bank takes the upper hand with 5.00 stars over TickMill's 3.50 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 TickMill came up with none of these.