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Saxo vs TeleTrade 2024

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Written by ForexBrokers.com

August 29, 2023

Is Saxo better than TeleTrade? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo is considered Trusted, with an overall Trust Score of 99 out of 99. TeleTrade is considered Average Risk, with an overall Trust Score of 71 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Saxo TeleTrade
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 99 71
Winner check_circle
Review Saxo Review
Broker Screenshots Saxo TeleTrade
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo TeleTrade
Trust Score info 99 71
Year Founded info 1992 1994
Publicly Traded (Listed) info No No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 1
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Saxo TeleTrade
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo TeleTrade
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Saxo TeleTrade
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 500
Forex Pairs (Total) info 190 61
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 TeleTrade
Average Spread EUR/USD - Standard info 1.1 info N/A
All-in Cost EUR/USD - Active info 0.9 info N/A
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info Yes No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding Saxo TeleTrade
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Saxo TeleTrade
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No Yes
Trading Tools Saxo TeleTrade
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 60 7
Charting - Indicators / Studies (Total) info 64 35
Charting - Drawing Tools (Total) info 20 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo TeleTrade
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 64 35
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research Saxo TeleTrade
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Saxo TeleTrade
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs Saxo TeleTrade
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Saxo Review
Overall Saxo TeleTrade
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 99 71
Winner check_circle
Review Saxo Review
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Saxo vs TeleTrade Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Saxo vs TeleTrade.

Can I trust Saxo?

Saxo 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 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.

Can I trust TeleTrade?

TeleTrade is not publicly traded and does not operate a bank. TeleTrade is authorised by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk). TeleTrade is authorised by the following Tier-1 regulator: Regulated in the European Union via the MiFID passporting system.

Is Saxo good?

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.

Is TeleTrade good?

TeleTrade was an early pioneer of mobile apps for finance, then became a forex and CFD broker, now offering the MetaTrader platform. With just one regulatory license, Teletrade has a lower Trust Score than more established forex brokers.

What is the minimum deposit requirement for opening an account with Saxo?

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

What is the minimum deposit requirement for opening an account with TeleTrade?

TeleTrade requires a minimum deposit of $100 before you can open an account and start trading.

What funding options does each broker offer?

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

Does Saxo or TeleTrade offer lower pricing?

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 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.

Is Saxo or TeleTrade safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose 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 holds 7 global Tier-1 licenses, while TeleTrade holds 1. Saxo holds 1 global Tier-2 licenses, while TeleTrade holds 0.

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 (99) earned a higher Trust Score than TeleTrade (71).

Which trading platform is better: Saxo or TeleTrade?

To compare the trading platforms of both Saxo and TeleTrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo offers a better experience. With research, Saxo offers superior market research. Finally, we found Saxo to provide better mobile trading apps.

Here’s what trading platforms are available at Saxo:

  • 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 TeleTrade:

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

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. TeleTrade offers MetaTrader 4 (MT4), while Saxo does not. Forex traders also appreciate the ability to engage in social copy trading. Saxo and TeleTrade both offer copy trading.

What can I trade with each broker?

Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to TeleTrade's 61 available pairs. If you are interested in trading CFDs, Saxo offers traders access to 70000 CFDs, while TeleTrade offers access to 500 CFDs; so Saxo offers 69500 more CFDs than TeleTrade.

We found in our testing that Saxo offers a more diverse selection of investment options than TeleTrade, 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.

Overall winner: Saxo

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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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