Written by ForexBrokers.com
In this head to head comparison of Saxo vs Spreadex, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Saxo, founded in 1992, and Spreadex, established in 1999, are both prominent names in the online brokerage industry. While neither is publicly traded, Saxo stands out as a bank, offering a greater sense of security. Saxo's regulatory credentials are impressive, with seven Tier-1 licenses and a Trust Score of 99, indicating it is highly trusted. Spreadex, on the other hand, possesses a single Tier-1 license and holds a Trust Score of 71, placing it in the average risk category according to ForexBrokers.com.
When choosing between these two brokers, Saxo provides a higher level of regulation and trust, making it a safer choice for investors seeking strong regulatory oversight. Spreadex offers a different appeal, but its lower Trust Score suggests a higher level of caution is advised. Understanding these differences can help investors make informed decisions based on their risk tolerance and preference for regulatory assurance.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Year Founded | 1992 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Saxo and Spreadex present different advantages in terms of commissions and fees, each appealing to traders with specific needs. Saxo is celebrated for its exceptional all-around pricing, especially beneficial for active traders, high-volume traders, and those capable of maintaining large account balances. Saxo offers three types of accounts: Classic, Platinum, and VIP, with average EUR/USD spreads of 1.1, 1.0, and 0.9 pips respectively. Notably, the entry-level Classic account's minimum deposit requirement is $0, while the Platinum and VIP accounts require minimum deposits of $200,000 and $1,000,000 respectively. Saxo also stands out by waiving custody fees for traders engaging in securities lending, and the VIP account offers exclusive benefits to elite investors. Saxo has been awarded a 5-star rating for its commission and fees, securing the 9th position out of 63 brokers according to ForexBrokers.com.
On the other hand, Spreadex offers competitive average spreads of 0.81 pips for EUR/USD, with the minimum spread reaching as low as 0.6 pips 60% of the time in January 2024. Its simple fee structure makes it an attractive choice for traders who prefer straightforward pricing without the need for high account balances or significant trading volumes. Spreadex has earned a 4-star rating for its commission and fees and is ranked 27th in the Commissions and Fees category by ForexBrokers.com.
While both brokers perform well, Saxo caters more to experienced traders who can leverage its tiered accounts and loyalty programs for optimal savings. Spreadex, meanwhile, offers a simpler solution with competitive spreads making it appealing to a broader range of traders. Depending on your trading style and financial goals, either broker could offer the right fit.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 0.81 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments between online brokers Saxo and Spreadex, there are several notable differences. Saxo provides a broader array of over 70,000 tradeable symbols compared to Spreadex's 10,000. For forex enthusiasts, Saxo offers an impressive 190 currency pairs, while Spreadex provides 52. Both brokers support forex trading as both CFDs and spot contracts. However, Saxo stands out by offering exchange-traded securities on both U.S. and international exchanges, allowing clients to purchase shares like Apple (NASDAQ: AAPL) and Vodafone (VOD-GB: London Stock Exchange). In contrast, Spreadex does not offer this feature. Additionally, Saxo offers copy trading, a service absent from Spreadex’s offerings.
Both Saxo and Spreadex provide options for trading cryptocurrency derivatives, though neither offers the purchase of actual cryptocurrency. Despite these differences, both brokers achieve a 5-star rating for their range of investment offerings. According to ForexBrokers.com, Saxo ranks higher at #3, compared to Spreadex's position at #13 out of 63 brokers in their Range of Investments category. This suggests that while both brokers are highly rated, Saxo offers a more comprehensive suite of trading options to cater to a varied investment strategy.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 10000 |
| Forex Pairs (Total) | 190 | 52 |
| 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 (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing Saxo and Spreadex, both offer compelling trading experiences, each with their unique features. Saxo and Spreadex provide simulated trading options with free virtual demo accounts, making it easier for new traders to practice without financial risk. Both platforms have proprietary software developed in-house, and they support web-based trading for convenience. However, only Saxo offers a Windows-based desktop trading option, allowing for more flexibility in access. While both platforms lack support for MetaTrader 4 and 5, as well as DupliTrade and ZuluTrade, Saxo distinguishes itself with copy trading capabilities that Spreadex does not provide.
In terms of charting tools and watch list functionality, Saxo shines with 20 drawing tools compared to Spreadex's 11 and offers a more comprehensive watch list feature with 60 columns versus Spreadex's 8. Both platforms allow trading directly from stock charts, adding an element of ease to managing trades. Despite Spreadex’s respectable 4-star rating for its trading platforms and tools, Saxo outperforms with a perfect 5-star rating and ranks number one out of 63 brokers in this category according to ForexBrokers.com, while Spreadex sits at #46.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 58 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Saxo and Spreadex cater to iPhone and Android users, providing essential features such as stock and forex price alerts. Saxo takes the lead with watchlist symbol syncing, allowing seamless integration between mobile and online accounts, while Spreadex does not offer this feature. Charting capabilities are another strong point for Saxo, with a wide array of 64 technical studies, compared to the unspecified offering from Spreadex. Both platforms allow drawing trendlines and viewing multiple time frames on charts, but only Saxo saves these drawings automatically.
Watchlists with real-time quotes are available on both apps, ensuring users stay updated with market movements. However, in terms of overall performance and user satisfaction, Saxo shines brighter, earning a five-star rating for its mobile trading app, compared to Spreadex's four stars. In a competitive landscape of 63 brokers, Saxo stands out with a #2 ranking from ForexBrokers.com, while Spreadex holds a more modest position at #46. This positioning underscores Saxo's superior offering in the mobile trading app category.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Saxo and Spreadex in terms of market research offerings, both platforms provide strong features to assist traders in making informed decisions. Saxo and Spreadex deliver daily market commentary and offer forex news sourced from top-tier providers such as Bloomberg, Reuters, and Dow Jones. They also provide traders with access to technical and fundamental research tools from Autochartist. While neither broker currently supports tools from Trading Central or market research from TipRanks and Acuity Trading, their offerings still cater to a range of trader needs.
Saxo excels with its sentiment-based trading tools, which track long and short positions across various forex pairs, a feature also available on Spreadex. Both brokers offer comprehensive economic calendars that shed light on crucial global news events. Despite these similarities, Saxo stands out with a perfect research rating of 5 stars and an impressive number one ranking in ForexBrokers.com's research category among 63 brokers. In contrast, Spreadex garners a 4-star rating and holds a respectable yet lower position, ranked 31st in the same category.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking educational resources from online brokers, Saxo and Spreadex both provide foundational materials on forex and CFDs, offering a library of at least 10 educational items such as articles and videos. However, Saxo stands out with its monthly online webinars, ensuring ongoing learning opportunities, whereas Spreadex does not offer regular live webinars. Saxo further distinguishes itself with a searchable archive of past webinars, providing easy access to prior sessions for further learning. Both brokers offer educational videos targeted at beginners, but Saxo extends learning into more advanced topics with a dedicated series of videos for experienced traders, which Spreadex lacks.
In terms of additional resources, both Saxo and Spreadex include an investor dictionary that covers over 50 investing terms, helping to clarify jargon for new traders. Education quality ratings see Saxo standing at 5 stars, while Spreadex is marked slightly lower at 4 stars. According to ForexBrokers.com rankings, Saxo takes a higher position in the education category, ranked 13th out of 63 brokers, compared to Spreadex’s ranking of 45th. Overall, Saxo emerges as a more comprehensive choice for beginners looking to deepen their understanding of trading.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than Spreadex. Saxo finished with an overall rank of #3, while Spreadex finished with an overall rank of #39.
Saxo 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.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Saxo and Spreadex do not offer the option to buy actual delivered cryptocurrency, but they do provide the ability to purchase cryptocurrency derivatives.
Both Saxo and Spreadex do not offer ACH, SEPA, PayPal, or Skrill for account transactions, but they do support Visa, Mastercard, and bank wires for deposits and withdrawals.
Please 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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0 of 5| Overall Rating | Saxo | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
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| Regulation | Saxo | Spreadex | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1992 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Saxo | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 10000 | |
| Forex Pairs (Total) | 190 | 52 | |
| 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 (Derivative) | 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). |
| Cost | Saxo | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Spreadex | |
|---|---|---|---|
| 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 Tools | Saxo | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 58 | |
| Charting - Drawing Tools (Total) | 20 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | Spreadex | |
|---|---|---|---|
| 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 Review | Spreadex Review |
| Overall | Saxo | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
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