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Saxo Bank vs XTB 2020

Is Saxo Bank better than XTB? After grading the best forex brokers on 105 different variables, Saxo Bank is better than XTB. 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 XTB
Overall 5 4.5
Saxo Bank Review XTB Review
72% of retail CFD accounts lose money 75% of retail CFD accounts lose money

Regulation

Feature Saxo Bank XTB
Trust Score 98 92
Year Founded
1992 2002
Publicly Traded (Listed)
No Yes
Bank
Yes No
Tier-1 Licenses
6 1
Tier-2 Licenses
1 1
Tier-3 Licenses
0 1
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank XTB
ASIC Authorised (Australia)
Yes No
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 XTB
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 49
CFDs - Total Offered
35000 1894
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 5 4
Winner check_circle

Cost

Feature Saxo Bank XTB
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 0.78 (as of Q3 19)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) 0.78 (as of Q3 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 5 4
Winner check_circle

Funding

Feature Saxo Bank XTB
Minimum Initial Deposit
$10,000.00 $0.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Saxo Bank XTB
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature Saxo Bank XTB
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 5 4
Winner check_circle

Mobile Trading

Feature Saxo Bank XTB
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 No
Charting - Indicators / Studies
41 30
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes Yes
Mobile Trading 4.5 4
Winner check_circle

Research

Feature Saxo Bank XTB
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 5 4.5
Winner check_circle

Education

Feature Saxo Bank XTB
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
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 XTB
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 XTB
Saxo Bank Review XTB Review
Overall 5 4.5
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 30 different forex broker accounts for trading FX. In total, over 3,180 data points were collected. For this review, we will compare Saxo Bank vs XTB.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Saxo Bank is a better option with a 5 star rating over XTB's 4 star rating.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both Saxo Bank and XTB are regulated in a major hub. XTB is a publicly traded company, while Saxo Bank is not. How many currency pairs are available to trade? XTB trails Saxo Bank by 133 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and XTB offering 49.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. XTB offers Meta Trader while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Saxo Bank trails XTB by 12 total charting tools, with XTB offering 31 and Saxo Bank offering 19. Saxo Bank boasts an offering of 55 different indicators (for example, moving averages) compared to XTB's 51 available indicators.

Saxo Bank Review
XTB 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.

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