Saxo Bank vs Xtrade 2023

Saxo Bank is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). 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), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by two Tier-1 regulators (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). Xtrade is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), and regulated in the European Union via the MiFID passporting system.

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.

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.

To open a trading account with Saxo Bank, you'll need to make an initial minimum deposit of 0.

Xtrade requires a minimum deposit of $250 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo Bank offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas Xtrade provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo Bank offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo Bank holds 7 global Tier-1 licenses, while Xtrade holds 2. Both Saxo Bank and Xtrade hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo Bank (99) earned a higher Trust Score than Xtrade (80).

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.

Here’s what trading platforms are available at Saxo Bank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at Xtrade:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Xtrade's 56 available pairs. If you are interested in trading CFDs, Saxo Bank offers traders access to 70000 CFDs, while Xtrade offers access to 142 CFDs; so Saxo Bank offers 69858 more CFDs than Xtrade.

We found in our testing that Saxo Bank offers a more diverse selection of investment options than Xtrade, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.