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 vs Swissquote on commissions and fees: Saxo is the better value for active traders, earning 5/5 stars and a #9 of 63 ranking for this category, while Swissquote scores 3.5/5 stars and ranks #54 of 63. Saxo’s pricing is designed to reward higher balances and heavier trading, whereas Swissquote generally charges more, with the best pricing found in its U.K. entity.
Saxo is commission-free for forex (it earns from the spread), with a $3-per-side ticket fee only if you trade under 50,000 units per month. As of November 2023, average EUR/USD spreads were 1.1 pips (Classic), 1.0 (Platinum), and 0.9 (VIP); minimums were about 0.2 pips lower. The Classic account now has a $0 minimum deposit, Platinum requires $200,000, and VIP requires $1,000,000 (or qualifying via Saxo’s volume-based loyalty program). Saxo also waives custody fees for share trading if you opt into securities lending.
Swissquote’s costs vary by region and account. In the U.K., the Elite account (for deposits of $10,000+) uses commissions and tighter spreads, with a $5 round-turn fee, while the Standard account starts at 1.3 pips on EUR/USD and Prime advertises minimum spreads from 0.6 pips (note: minimums aren’t averages). In Luxembourg, Standard/Premium/Prime require $1,000/$5,000/$50,000 with minimum spreads roughly 1.5 to 0.8 pips. In Switzerland, forex spreads start around 1.7 pips for Standard, 1.4 for Premium ($10,000 minimum), and 1.1 for Prime ($50,000 minimum), with custom pricing for high volume. Bottom line: Swissquote offers the cachet of a Swiss bank but typically costs more; Saxo is the stronger pick on pricing—especially if you trade frequently or maintain a larger balance.
| 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.
In the Saxo vs Swissquote comparison for range of investments, both brokers let you trade forex as CFDs or spot, offer exchange‑traded stocks on U.S. and international markets (think Apple on NASDAQ and Vodafone in London), and support crypto CFDs. Saxo stands out for sheer variety with about 71,000 tradeable symbols and 190 forex pairs. Swissquote lists 472 tradeable symbols and 80 forex pairs, which is far fewer but still covers the major asset classes most investors use.
Key differences: Swissquote offers copy trading and lets you buy actual cryptocurrencies, while Saxo does not. Both earned 5 out of 5 stars for Range of Investments; in ForexBrokers.com’s ranking of 63 brokers, Swissquote is #2 and 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 offer a free demo account and feature proprietary trading platforms available on the web and as Windows desktop downloads. Each broker also lets you place trades directly from a chart, which can speed up order entry and management.
Key differences: Swissquote supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Saxo does not provide copy trading or MT4/MT5, focusing on its in-house platform suite. For Trading Platforms and Tools, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers, while Swissquote earns 4.5 stars and ranks #12. Choose Saxo if you want top-rated, proprietary tools; pick Swissquote if MT4/MT5 and copy trading matter to you.
| 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 iPhone and Android trading apps. Each provides price alerts for stocks and forex. The key difference is watchlist syncing: the Saxo mobile app syncs your watchlists with your web account, so symbols you add or remove carry over automatically across devices, while Swissquote does not sync watchlists between mobile and the online platform.
For charting on the go, the Saxo app includes 64 built-in technical studies (indicators) compared with 30 on Swissquote. Both apps let you draw trendlines and will auto-save your drawings, making it easy to pick up where you left off. In evaluations, Saxo’s mobile trading app is rated 5 stars and ranks #2 out of 63 brokers for Mobile Trading Apps by ForexBrokers.com, while Swissquote is rated 4.5 stars and 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.
When it comes to market research offerings, both Saxo and Swissquote provide comprehensive daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. Both platforms also incorporate Autochartist tools for technical and fundamental analysis. However, neither broker offers research tools from Trading Central or Acuity Trading, nor do they provide market research from TipRanks. One key differentiation is that Saxo includes a sentiment-based trading tool to help traders make informed decisions, while Swissquote does not offer this feature.
Both Saxo and Swissquote offer robust economic calendars, detailing global news events crucial for traders. In terms of ratings, Saxo shines with a 5-star research rating and is ranked number one among 63 brokers by ForexBrokers.com, highlighting its superior research capabilities. In comparison, Swissquote earns a respectable 4-star rating and is ranked 16th in the same category. Such distinctions make Saxo a frontrunner for those particularly focused on in-depth market research tools.
| 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.
Saxo and Swissquote both make it easy for beginners to learn. Each broker runs monthly educational webinars and offers a sizable library of video lessons, with at least 10 beginner-focused videos and at least 10 advanced videos to help you progress from basics to more complex trading topics. If you prefer learning through live sessions and structured video courses, either platform can support your path into forex and CFD trading.
When it comes to quality, Saxo holds the edge: it’s rated 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com. Swissquote is close behind with a 4-star Education rating and a #20 ranking. In short, both are strong choices for new traders, but Saxo’s overall education offering is rated higher, while Swissquote still delivers frequent webinars and a solid video lineup.
| 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 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
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Swissquote
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|---|---|---|
| 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 SCA 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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