Written by ForexBrokers.com
In this head to head comparison of Saxo vs Swissquote, 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.
When comparing Saxo and Swissquote, both online brokers offer a strong level of trust and security. Saxo, founded in 1992, is a bank that is not publicly traded and boasts a highly impressive Trust Score of 99 out of 99 as per ForexBrokers.com. This score is supported by its possession of 7 Tier-1 licenses, which are seen as highly trusted. On the other hand, Swissquote, established in 1996, is a publicly traded bank. It also shares the top-notch Trust Score of 99 and holds 5 Tier-1 licenses, slightly fewer than Saxo. However, Swissquote holds 2 Tier-2 licenses compared to Saxo's single Tier-2 license, adding to its credibility.
Both Saxo and Swissquote offer reputable services with a high standard of trust, as reflected in their perfect Trust Scores and banking status. Saxo leads with a greater number of top-tier licenses, while Swissquote distinguishes itself by being publicly traded, potentially offering additional transparency. Investors looking for secure trading options can find peace of mind with either broker, making the choice between them dependent on specific needs and preferences.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Year Founded | 1992 | 1996 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Saxo comes out ahead on commissions and fees, especially for active traders and larger accounts. Its forex pricing is built into the spread, and the average EUR/USD spread was 1.1 pips for Classic, 1.0 pips for Platinum, and 0.9 pips for VIP as of November 2023. Saxo also has a $0 minimum deposit for new Classic accounts, while Platinum requires $200,000 and VIP requires $1,000,000, or a high enough trading volume to qualify through its loyalty program. One small catch: traders who do less than 50,000 units per month pay a $3 ticket fee per side. Saxo is rated 5 out of 5 stars for commissions and fees and is ranked #8 out of 36 brokers by ForexBrokers.com.
Swissquote is more expensive overall and is better suited to traders who value the backing of a Swiss banking group more than low trading costs. Its fees vary by entity, but the U.K. accounts are generally the cheapest, with the Elite account charging $5 per round-turn trade plus tighter spreads, while the Standard account starts from 1.3 pips on EUR/USD and the Prime account from 0.6 pips. In Luxembourg, spreads range from 0.8 to 1.5 pips depending on account type, and in Switzerland the Prime account starts from 1.1 pips, with custom pricing only available for larger active traders. Swissquote is rated 3.5 out of 5 stars for commissions and fees and is ranked #35 out of 36 brokers by ForexBrokers.com.
In simple terms, Saxo is the better pick if low forex trading costs are your top priority, while Swissquote charges more but may appeal to traders who want a Swiss bank-backed account and a different mix of services. Saxo also offers better pricing tiers for higher-volume clients, while Swissquote’s best rates tend to come with extra deposit requirements or account conditions.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Minimum Deposit | $0 | $1000 |
| Average spread (EUR/USD) - Standard account | 1.0 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and Swissquote both give investors access to forex trading, U.S. and international shares, and cryptocurrency CFDs, and each earns a 5-star rating for range of investments. Saxo stands out for choice, with about 71,000 tradeable symbols and 190 forex pairs, compared with Swissquote’s 472 symbols and 80 forex pairs. That makes Saxo the stronger option if you want a much wider market selection.
Swissquote, however, offers a few extras that Saxo does not. It supports copy trading and lets clients buy actual cryptocurrency, not just crypto CFDs. Both brokers also let you trade exchange-listed securities directly on U.S. and international exchanges, so either can suit investors who want real shares as well as forex and CFD products. In ForexBrokers.com’s rankings for range of investments, Swissquote is placed #2 out of 36 brokers, while Saxo is #3.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 472 |
| Forex Pairs (Total) | 190 | 80 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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.
Saxo and Swissquote both give traders a wide choice of platform options, including a free demo account, a proprietary in-house platform, a Windows desktop app, and a web-based trading platform. Both also let users trade directly from charts, which makes it easier to place trades while watching price moves. In ForexBrokers.com’s Trading Platforms and Tools category, Saxo is rated 5 stars and ranked #3 out of 36 brokers, while Swissquote is rated 4.5 stars and ranked #12.
The main difference is that Swissquote offers more third-party and social trading features. It supports copy trading, MetaTrader 4, and MetaTrader 5, while Saxo does not. For traders who want access to MT4/MT5 or copy trading, Swissquote has the edge; for those focused on a polished proprietary platform and top-rated trading tools, Saxo stands out as the stronger all-around choice.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 61 | 86 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Swissquote both offer mobile trading apps for iPhone and Android, along with stock or forex price alerts and chart tools such as trendline drawing and auto-saving drawings. Both apps make it easy to trade on the go, but Saxo goes a step further with watchlist symbol syncing, so changes made in the app and online account stay aligned. Swissquote does not offer this syncing feature in its mobile app.
When it comes to charting and overall app quality, Saxo has the edge. Its mobile app includes 64 technical studies, compared with 30 at Swissquote, and it carries a 5-star mobile trading apps rating versus Swissquote’s 4.5 stars. That difference shows up in rankings too: Saxo is placed #3 out of 36 brokers for mobile trading apps, while Swissquote ranks #12.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and Swissquote both give traders plenty of market research tools, including daily market commentary, news from major sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar for tracking global events. Both also offer Autochartist, which can help with technical and fundamental analysis. For basic research coverage, the two brokers are well matched.
The key difference is that Saxo adds a sentiment tool that shows how traders are positioned across currency pairs and other markets, while Swissquote does not offer this feature. This extra edge helps explain why Saxo earns a perfect 5-star Research rating and ranks #1 out of 36 brokers, compared with Swissquote’s 4.5-star rating and #15 ranking.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Saxo and Swissquote for beginner-friendly learning, both online brokers give new traders plenty of material to build confidence. Each offers forex and CFDs education with at least 10 learning pieces, plus online client webinars at least once a month and more than 10 beginner videos that explain trading basics in simple terms. Both also provide at least 10 advanced videos for more experienced traders, so learners can keep going as their skills improve.
That said, Saxo has the edge overall for education. It earns 5 out of 5 stars for Education and ranks #12 out of 36 brokers on ForexBrokers.com, while Swissquote scores 4.5 stars and ranks #19. For beginners who want a wider educational path and a slightly stronger overall learning setup, Saxo comes out ahead, though Swissquote still offers a strong set of resources for getting started and growing as a trader.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 Swissquote. Saxo finished with an overall rank of #3, while Swissquote finished with an overall rank of #11.
Saxo is a 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
|
Swissquote
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Compared with online broker Swissquote, which lets you buy actual (delivered) cryptocurrencies and trade crypto CFDs, Saxo does not offer delivered crypto purchases but does support cryptocurrency CFDs.
Online broker comparison: Swissquote vs Saxo—Swissquote supports ACH/SEPA, PayPal, Skrill, and bank wire transfers for deposits and withdrawals, whereas Saxo supports bank wires only and does not offer ACH/SEPA, PayPal, or Skrill.
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 | Swissquote | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Swissquote Review |
| Broker Screenshots | Saxo | Swissquote | |
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| Regulation | Saxo | Swissquote | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1996 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Swissquote | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | Yes | |
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Saxo | Swissquote | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | Swissquote | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 472 | |
| Forex Pairs (Total) | 190 | 80 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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 | Swissquote | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.0 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | Swissquote | |
|---|---|---|---|
| Minimum Deposit | $0 | $1000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | Swissquote | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | Swissquote | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 86 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Swissquote | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | Swissquote | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Swissquote | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | Swissquote | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | Swissquote Review |
| Overall | Saxo | Swissquote | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Swissquote Review |
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