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Saxo Bank vs Xtrade 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Saxo Bank better than Xtrade? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Xtrade is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Overall RatingSaxo BankXtrade
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 2.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3/5 Stars
Mobile Trading 5/5 Stars 3/5 Stars
Research 5/5 Stars 3/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 80
Winner check_circle
Review Saxo Bank Review
RegulationSaxo BankXtrade
Trust Score 99 80
Year Founded 1992 2003
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union Yes info No
Tier-1 Licenses 6 1
Tier-2 Licenses 1 2
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)Saxo BankXtrade
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Saxo BankXtrade
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)Saxo BankXtrade
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No Yes
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsSaxo BankXtrade
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 60000 142
Forex Pairs (Total) 190 56
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes No
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CostSaxo BankXtrade
Average Spread EUR/USD - Standard 0.9 info N/A info
All-in Cost EUR/USD - Active 0.7 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker Yes Yes
FundingSaxo BankXtrade
Minimum Deposit €2,000 $250
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsSaxo BankXtrade
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes No
Web Platform Yes Yes
Social Trading / Copy Trading Yes No
MetaTrader 4 (MT4) No No
MetaTrader 5 (MT5) No No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsSaxo BankXtrade
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes No
Watchlists - Total Fields 62 9
Charting - Indicators / Studies (Total) 62 N/A
Charting - Drawing Tools (Total) 20 18
Charting - Trade From Chart Yes No
Charts can be saved Yes No
Mobile TradingSaxo BankXtrade
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes No
Mobile Watchlist Yes No
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 62 N/A
Mobile Charting - Draw Trendlines Yes No
Mobile Charting - Multiple Time Frames Yes No
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes No
ResearchSaxo BankXtrade
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationSaxo BankXtrade
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsSaxo BankXtrade
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
Review Saxo Bank Review
OverallSaxo BankXtrade
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 2.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3/5 Stars
Mobile Trading 5/5 Stars 3/5 Stars
Research 5/5 Stars 3/5 Stars
Education 4/5 Stars 3.5/5 Stars
Trust Score 99 80
Winner check_circle
Review Saxo Bank Review
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Saxo Bank vs Xtrade Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs Xtrade.

Does Saxo Bank or Xtrade 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 Xtrade safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Saxo Bank holds 6 global Tier-1 licenses, while Xtrade holds 1. Xtrade holds 2 global Tier-2 licenses, while Saxo Bank holds 1. In our analysis of 23 international regulators across 50 brokers, Saxo Bank earned a higher Trust Score than Xtrade.

Which trading platform is better: Saxo Bank or Xtrade?

To compare the trading platforms of both Saxo Bank and Xtrade, 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. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Xtrade's 56 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while Xtrade has 142 available CFDs, a difference of 59858.

Can I trust Saxo Bank?

Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).

Can I trust Xtrade?

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and one tier-3 regulator (low trust). Xtrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).

Is Saxo Bank good?

Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

Is Xtrade good?

Xtrade is regulated in multiple jurisdictions and offers forex and CFD traders its own trading platform, yet with barely 200 symbols that you can trade it trails behind the best forex brokers.

Overall winner: Saxo Bank

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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