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 |
When comparing online brokers Saxo and Swissquote, Saxo shines with its outstanding pricing structure particularly advantageous for active and high-volume traders. Saxo offers three account types: Classic, Platinum, and VIP, with spreads on the EUR/USD averaging 1.1, 1.0, and 0.9 pips, respectively. Notably, the Classic account minimum deposit has been reduced to $0. Saxo's Platinum and VIP accounts provide competitive pricing closer to industry averages, with the VIP account providing substantial savings to elite investors who either deposit at least $1,000,000 or trade significant forex volumes. Saxo is commission-free for forex trading except for low-volume traders, earning it a top ranking of #9 by ForexBrokers.com and a perfect 5-star rating.
On the other hand, Swissquote, part of a reputable Swiss banking conglomerate, offers a range of accounts with varied pricing structures. Across its U.K., Swiss, and Luxembourg entities, Swissquote’s costs differ slightly but generally trail behind Saxo in terms of competitiveness. The U.K. accounts are more affordable with spreads starting at 1.3 pips for the Standard account and as low as 0.6 pips for the Prime account. However, Swissquote's Elite account presents a compelling choice for active traders who deposit at least $10,000, offering lower spreads and a $5 charge per round-turn trade. Despite its prestige, Swissquote's commission and fees earn it a 3.5-star rating, ranking #53 in ForexBrokers.com's evaluations.
Although Swissquote benefits from the credibility of Swiss banking, Saxo's superior pricing and fee structure, along with its commission-free trading feature, make it a more attractive choice for cost-conscious traders. The flexibility and savings available through Saxo's tiered accounts stand out, offering significant potential for active traders to optimize their trading expenses. Conversely, those choosing Swissquote might prioritize the brand's security and stability over lower costs. Overall, Saxo's strategic pricing ensures it remains a frontrunner in the industry for favorable commissions and fees.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Minimum Deposit | $0 | $1000 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Swissquote for their range of available investments, both brokers present a diverse assortment of options. Saxo offers a staggering 70,000 tradeable symbols, while Swissquote provides a more modest selection of 472. In terms of forex trading, Saxo allows clients to trade 190 different forex pairs, compared to Swissquote's 80 pairs. Both platforms offer forex trading either as a CFD or spot contract, catering to the varying needs of forex traders.
Moreover, both Saxo and Swissquote enable trading in exchange-traded securities from U.S. and international markets, allowing clients to purchase shares like Apple and Vodafone. For those interested in copy trading, both brokers provide this functionality. However, when it comes to cryptocurrencies, Swissquote holds an edge by allowing clients to buy actual cryptocurrencies, unlike Saxo, which only offers cryptocurrency derivatives. Despite this difference, both brokers earn a five-star rating for their range of investments, with Swissquote ranked slightly higher as #2, and Saxo as #3, by ForexBrokers.com.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 472 |
| Forex Pairs (Total) | 190 | 80 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | Yes |
| 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 Swissquote for their trading platforms and tools, both brokers offer free virtual demo accounts, allowing users to practice and familiarize themselves with the platforms through simulated trading. Each broker has developed its proprietary trading platform, which is accessible via a Windows desktop download or any web browser, providing flexibility and accessibility. Additionally, both Saxo and Swissquote support copy trading, enabling traders to replicate the strategies of successful investors.
However, differences arise when considering the platforms’ compatibility with MetaTrader software. While Saxo does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), Swissquote offers both, providing a wider array of trading tools for users preferring MetaTrader. In terms of charting tools, Saxo offers 20 drawing tools compared to Swissquote’s 75, but Saxo provides 60 watchlist columns, significantly more than Swissquote's 11. Though both offer direct trading from stock charts, Saxo achieves a higher rating of 5 stars for its trading platforms and tools, and it is ranked #1 among 63 brokers, while Swissquote holds a respectable 4.5-star rating and is ranked #12.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 86 |
| Charting - Drawing Tools (Total) | 20 | 75 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by Saxo and Swissquote, both platforms provide iPhone and Android apps, ensuring convenient access to trading on the go. They each offer stock and forex price alerts and the ability to draw trendlines and view various time frames on charts. However, a standout feature of Saxo's app is its seamless watchlist symbol syncing with online accounts, a functionality not supported by Swissquote. Additionally, Saxo surpasses Swissquote in technical studies, providing a rich array of 64 studies compared to Swissquote's 30. Both apps allow users to auto-save drawings and create watchlists with real-time quotes, enhancing the overall trading experience.
Evaluating their performance, Saxo's mobile trading app holds a slight edge, earning a 5-star rating and ranking second out of 63 brokers according to ForexBrokers.com. In contrast, Swissquote is rated at 4.5 stars and ranks twelfth. This suggests that while both apps cater to traders effectively, Saxo offers a slightly more comprehensive and synced mobile trading experience. Whether you're an avid trader needing advanced features or someone who values syncing capabilities, Saxo's app may better meet diverse trading needs. However, Swissquote still presents a viable, high-quality option for mobile traders.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at Saxo and Swissquote, both platforms offer extensive support to help novice traders get started. Saxo provides a comprehensive selection of learning materials, including over 10 educational pieces focused on forex and CFDs, monthly webinars, a searchable archive of past sessions, and more than 10 beginner videos specifically tailored to newcomers. Additionally, Saxo includes advanced educational videos for seasoned traders, and a well-rounded investor dictionary with over 50 investing terms. Swissquote matches Saxo with a similar array of resources, offering the same level of access to articles and video content, along with webinars and archived content readily available to their clients.
Despite their similar offerings, Saxo edges out Swissquote when it comes to education. Rated with a full 5 stars for their educational efforts, Saxo holds the 13th spot in the education category among 63 brokers according to ForexBrokers.com. In contrast, Swissquote holds a respectable 4-star rating and is ranked 21st. This slight difference in ranking suggests that while both brokers provide strong educational support, Saxo may offer a slightly more engaging or comprehensive learning experience for beginners. Whether you choose Saxo or Swissquote, both brokers ensure that beginners have access to exceptional educational resources to help them navigate the world of online trading.
| Feature |
Saxo
|
Swissquote
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 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
|
Swissquote
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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While both Saxo and Swissquote provide options for investing in cryptocurrency derivatives, only Swissquote offers the capability to purchase actual, delivered cryptocurrency, unlike Saxo which does not provide this service.
When comparing the online brokers Saxo and Swissquote, Saxo does not support ACH, SEPA, PayPal, or Skrill for deposits or withdrawals but does accept Visa, Mastercard, and bank wires, whereas Swissquote offers a wider range of options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires for managing account funds.
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 |
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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 (SFC 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Swissquote | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 472 | |
| Forex Pairs (Total) | 190 | 80 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | Swissquote | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Swissquote | |
|---|---|---|---|
| Minimum Deposit | $0 | $1000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | Swissquote | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Swissquote | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 11 | |
| Charting - Indicators / Studies (Total) | 64 | 86 | |
| Charting - Drawing Tools (Total) | 20 | 75 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | Swissquote | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Swissquote | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | Swissquote | |
|---|---|---|---|
| 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 | 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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