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 XTB.
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 is a better option with a 4.50 star rating over XTB's 4.00 star rating.
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 XTB are regulated in a major hub. XTB is a publicly traded company, Saxo Bank isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Saxo Bank boasts an offering of 182 different currency pairs compared to XTB's 49 available pairs.
To round out our comparison of Saxo Bank vs XTB, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. XTB has Meta Trader, Saxo Bank doesn't. 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. XTB boasts an offering of 31 charting tools compared to Saxo Bank's 17 available charting tools. XTB boasts an offering of 51 different indicators (for example, moving averages) compared to Saxo Bank's 45 available indicators.
Overall, Saxo Bank takes the upper hand with 5.00 stars over XTB's 4.00 stars. And, when it comes to individual category awards, XTB finished with awards Best in Class - Customer Service in 2018, while Saxo Bank came up with 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.