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

Saxo Bank vs XM Group 2019

Is Saxo Bank better than XM? After scoring forex brokers on nearly 100 different variables, Saxo Bank is better than XM. 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 XM Group
Overall 4.5 3.5
Saxo Bank Review XM Group Review
69% of retail CFD accounts lose money 69% of retail CFD accounts lose money

Regulation

Feature Saxo Bank XM Group
Trust Score 98 78
Year Founded
1992 2009
Publicly Traded (Listed)
No No
Bank
Yes No
Tier-1 Licenses
6 2
Tier-2 Licenses
1 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank XM Group
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

Investments

Feature Saxo Bank XM Group
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 57
CFDs - Total Offered
35000 1000
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 3.5
Winner check_circle

Cost

Feature Saxo Bank XM Group
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 1.6 (as of Jan 18)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) 0.8
Active Trader or VIP Discounts
Yes No
Commissions & Fees 4.5 4
Winner check_circle

Funding

Feature Saxo Bank XM Group
Minimum Initial Deposit
$10,000.00 $5-100
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Saxo Bank XM Group
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

Trading Tools

Feature Saxo Bank XM Group
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 7
Charting - Indicators / Studies (Total)
55 51
Charting - Drawing Tools (Total)
19 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 3
Winner check_circle

Mobile Trading

Feature Saxo Bank XM Group
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 Yes
Charting - Indicators / Studies
41 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 3.5
Winner check_circle

Research

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

Education

Feature Saxo Bank XM Group
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes No
Education 4 2.5
Winner check_circle

Major Forex Pairs

Feature Saxo Bank XM Group
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

Overall

Feature Saxo Bank XM Group
Saxo Bank Review XM Group Review
Overall 4.5 3.5
Winner check_circle
To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare Saxo Bank vs XM.

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 XM'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 and XM both are regulated in a major hub. Saxo Bank nor XM are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. XM trails Saxo Bank by 125 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and XM offering 57.

To round out our comparison of Saxo Bank vs XM, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. XM offers Meta Trader 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. XM offers its clients access to 31 charting tools while Saxo Bank has 17 charting tools, a difference of 14. Saxo Bank trails XM by 4 total different indicators (for example, moving averages), with XM offering 51 and Saxo Bank offering 47.

Saxo Bank Review
XM 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