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

Saxo Bank vs XM Group 2020

Is Saxo Bank better than XM Group? After testing 30 of the best forex brokers over five months, Saxo Bank is better than XM Group. For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.



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 5 4
Saxo Bank Review XM Group Review
72% of retail CFD accounts lose money 69% of retail CFD accounts lose money

Regulation

Feature Saxo Bank XM Group
Trust Score 98 81
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 1247
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No No
Offering of Investments 5 4
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 5 3.5
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)
Yes 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 (Default MT4/MT5)
Charting - Indicators / Studies (Total)
55 (Default MT4/MT5)
Charting - Drawing Tools (Total)
19 (Default MT4/MT5)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 5 3.5
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 (Default MT4/MT5)
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 Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 5 4
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 Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes No
Education 4 4
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 5 4
Winner check_circle

Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs XM Group.

Does Saxo Bank or XM Group 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 XM Group safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while XM Group holds 2. Both Saxo Bank and XM Group hold 1 global Tier-2 licenses. All regulators considered, Saxo Bank has a Trust Score of 98.00, while XM Group's Trust Score is 81.00.

Which trading platform is better: Saxo Bank or XM Group?
To compare the trading platforms of both Saxo Bank and XM Group, 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. Saxo Bank and XM Group both offer copy trading. Both Saxo Bank and XM Group offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 182 currency pairs (e.g., EUR/USD) compared to XM Group's 57 available pairs. Forex pairs aside, Saxo Bank offers traders access to 35000 CFDs while XM Group has 1247 available CFDs, a difference of 33,753.

Overall, between Saxo Bank and XM Group, Saxo Bank is the better forex broker.

Saxo Bank Review
XM Group Review


Trading CFDs, FX, and cryptocurrencies involve 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 01/20/2020 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.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

arrow_drop_upBack to top