Written by ForexBrokers.com
In this head to head comparison of Saxo vs ThinkMarkets, 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 and ThinkMarkets are two well-regarded online brokers, each with its own set of strengths when it comes to trust and regulation. Saxo, established in 1992, operates as a bank and holds an impressive seven top-tier, highly trusted licenses. This contributes to its outstanding Trust Score of 99, as rated by ForexBrokers.com. Meanwhile, ThinkMarkets, which was founded in 2010, holds five of these top-tier licenses and achieves a strong Trust Score of 92. Although neither company is publicly traded, Saxo's status as a bank sets it apart in terms of regulatory standing.
Additionally, Saxo has one Tier-2 license, while ThinkMarkets has two Tier-2 licenses, indicating their diversified regulatory reach. With Trust Scores that place Saxo in the highest category and ThinkMarkets comfortably in the trusted range, both brokers secure a high level of confidence from their clients. Choosing between the two may depend on whether you value Saxo's long-standing history and banking status, or ThinkMarkets' relatively newer presence with a still impressive license collection.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1992 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing Saxo and ThinkMarkets on commissions and fees, Saxo stands out with a high rating of 5 stars and ranks #9 out of 63 brokers on ForexBrokers.com. Saxo’s competitive pricing is particularly attractive to active traders, high-volume investors, and those maintaining significant account balances. The broker offers tiered account structures with the Classic, Platinum, and VIP options, each catering to different levels of trading needs and providing varying savings on spreads. Notably, Saxo allows commission-free forex trading, generating revenue primarily through spreads, although a ticket fee applies for trading less than 50,000 units per month.
For Saxo, the average spread for the EUR/USD pair as of November 2023 is 1.1 pips for the Classic account, 1.0 pips for the Platinum account, and 0.9 pips for the VIP account. While the Classic account's pricing is slightly above the industry average, the Platinum and VIP accounts offer more competitive rates. The Classic account has a minimum deposit recently reduced to $0, while the Platinum requires $200,000, and the VIP account is reserved for investors depositing at least $1,000,000. Elite clients in the VIP tier benefit from exclusives such as event access and one-on-one connections with Saxo analysts, enhancing their trading experience.
ThinkMarkets, on the other hand, does not disclose average spread data, earning them a 4-star rating and a rank of #47 for commissions and fees by ForexBrokers.com. This indicates that while they may not provide as detailed pricing transparency as Saxo, they still offer a solid fee structure that attracts a certain trading demographic. Overall, Saxo holds the edge in terms of competitive pricing and value-added benefits for high-tier account holders, making it an appealing option for traders focused on optimizing their trading costs.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.1 | 1.1 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 ThinkMarkets in terms of their range of investment options, Saxo stands out with an impressive offering. Saxo provides access to a vast array of 70,000 tradeable symbols and a striking 190 forex pairs, catering well to investors looking for variety. Additionally, Saxo allows users to trade exchange-traded securities on both U.S. and international exchanges, enabling purchases of major stocks like Apple and Vodafone directly, not as CFDs. Although actual cryptocurrency purchases are off the table, Saxo does offer cryptocurrency derivatives for those interested in virtual currency trading.
ThinkMarkets, while offering a more limited variety in comparison, still maintains a competitive edge in certain areas. With 4,000 tradeable symbols and 46 forex pairs, it sufficiently meets the needs of many traders, although it does not provide direct access to U.S. exchange-traded securities like Saxo. However, ThinkMarkets enables trading on international exchanges such as London's and offers cryptocurrency derivatives. Both brokers support copy trading, allowing users to mirror strategies from successful traders. In terms of range and ranking for investments, Saxo earns a 5-star rating and ranks third among 63 brokers on ForexBrokers.com, while ThinkMarkets follows with a commendable 4.5-star rating and ranks 22nd in the same category.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 4000 |
| Forex Pairs (Total) | 190 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| 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 the trading platforms of Saxo and ThinkMarkets, both brokers provide a proprietary platform developed in-house, supporting both Windows-based desktop downloads and web-based trading through a browser. For those who are just starting or want to test strategies, both Saxo and ThinkMarkets offer simulated trading with free virtual demo accounts. Saxo and ThinkMarkets also accommodate traders interested in copy trading features. While Saxo does not support MetaTrader 4 or MetaTrader 5, ThinkMarkets offers both popular platforms, catering to traders who prefer these industry standards. Both brokers enable direct trading from stock charts, although Saxo edges out with 20 drawing tools compared to ThinkMarkets’ 15 for charting. Moreover, Saxo provides an extensive selection of 60 watchlist columns, significantly more than ThinkMarkets' 15 options.
In terms of ratings, Saxo has been awarded 5 stars for its trading platforms and tools, while ThinkMarkets holds a 4-star rating. Saxo is recognized as the leading broker by ForexBrokers.com, ranking #1 out of 63 for trading platforms and tools, indicating a broader and more comprehensive offering compared to ThinkMarkets, which is ranked #28. While both brokers offer strong platforms with diverse functionalities, Saxo’s more extensive charting tools and higher rating suggest a more advanced platform for traders seeking a feature-rich experience.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| 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 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and ThinkMarkets, both platforms are available on iPhone and Android devices, providing users with convenient access to trading on the go. Each app supports stock and forex price alerts, allowing traders to stay updated with market movements. While both apps enable traders to create watchlists with real-time quotes, only Saxo offers syncing of watchlist symbols with the client's online account, providing seamless integration between mobile and desktop platforms. In terms of advanced charting capabilities, Saxo offers 64 technical studies and the ability to draw trendlines, features also available on ThinkMarkets' app, which excels with 94 technical studies. Both apps allow users to view multiple time frames on charts, ranging from daily to intraday, and they auto-save chart drawings, ensuring a user-friendly experience.
Overall, Saxo's mobile app holds a strong reputation with a top-notch rating of 5 stars and an impressive #2 ranking among 63 brokers in the Mobile Trading Apps category on ForexBrokers.com. On the other hand, ThinkMarkets, while highly functional, is rated with 4 stars and ranks #20 in the same category. This suggests Saxo might offer a more polished and integrated mobile trading experience, particularly due to its syncing capabilities and higher overall rating, making it a better choice for traders seeking a comprehensive mobile trading solution.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 94 |
| 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 comparing Saxo and ThinkMarkets for market research capabilities, both brokers provide daily market commentary and offer forex news from reputable sources like Bloomberg and Reuters. While both platforms provide sentiment-based trading tools and maintain comprehensive economic calendars, Saxo distinguishes itself with integration from Autochartist, which ThinkMarkets lacks. On the other hand, ThinkMarkets features research tools from Acuity Trading, unavailable with Saxo. Both brokers do not provide research from Trading Central or market insights via TipRanks.
In terms of overall research quality, Saxo holds the edge with a 5-star rating, recognized as the top broker among 63 options in the ForexBrokers.com research rankings. In contrast, ThinkMarkets receives a 3.5-star rating, placing it at number 50 on the same list. This reflects Saxo's superior offerings and tools, which may better suit traders looking for a comprehensive market research experience.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings for beginners between Saxo and ThinkMarkets, both online brokers provide a substantial foundation for those new to forex and CFDs trading. They each offer over ten educational pieces, including articles, videos, and archived webinars focused on these subjects. Furthermore, both brokers host regular monthly webinars and provide accessible archives of previously recorded sessions for ongoing learning. There's also a rich selection of over ten beginner-focused trading videos available from each provider, ensuring newcomers have ample resources to hone their skills.
In terms of more advanced educational content and tools, Saxo and ThinkMarkets present a similar selection. Each offers over ten advanced trading videos and a comprehensive investor dictionary with more than 50 investing terms defined. However, when considered from an educational perspective, Saxo edges ahead with a 5-star rating compared to ThinkMarkets' 3.5 stars. Rankings by ForexBrokers.com further reflect this difference, placing Saxo at #13, while ThinkMarkets falls to #52 out of 63 brokers. This suggests that although both brokers provide educational support, Saxo is perceived as offering a more refined educational experience.
| Feature |
Saxo
|
ThinkMarkets
|
|---|---|---|
| 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 ThinkMarkets. Saxo finished with an overall rank of #3, while ThinkMarkets finished with an overall rank of #27.
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
|
ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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Both Saxo and ThinkMarkets do not offer the ability to buy actual (delivered) cryptocurrency, but they each provide the option to purchase cryptocurrency derivatives.
Both Saxo and ThinkMarkets provide Visa or Mastercard and bank wires as options to deposit or withdraw account funds, but unlike Saxo, ThinkMarkets also accepts Skrill; neither broker offers ACH, SEPA, or PayPal transfers.
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 | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Saxo Review |
| Broker Screenshots | Saxo | ThinkMarkets | |
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| Regulation | Saxo | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1992 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| 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 | 3 |
| Tier-1 Licenses (Highly Trusted) | Saxo | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| 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 | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 4000 | |
| Forex Pairs (Total) | 190 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.1 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 15 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | ThinkMarkets | |
|---|---|---|---|
| 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 | 94 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 |
| Overall | Saxo | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Saxo Review |
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