Written by ForexBrokers.com
In this head to head comparison of Saxo vs XM Group, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Saxo and XM Group are well-known online brokers with strong trust ratings from ForexBrokers.com. Saxo, founded in 1992, is a bank and not publicly traded. XM Group, founded in 2009, is also not publicly traded and is not a bank. Both earn a “highly trusted” label: Saxo scores 99 out of 99, while XM Group scores 93 out of 99.
When it comes to regulation, Saxo holds 7 Tier-1 licenses (highly trusted) and 1 Tier-2 license (trusted), signaling extensive oversight. XM Group holds 4 Tier-1 licenses and 3 Tier-2 licenses. These tiers, as defined by ForexBrokers.com, indicate the strength of a broker’s regulatory standing, helping traders compare safety across firms.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Year Founded | 1992 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo comes out ahead on commissions and fees, especially for active traders and those with bigger balances. It offers commission-free forex trading, with costs built into the spread, and only charges a $3 per-side ticket fee for traders who trade less than 50,000 units per month. Its pricing can be very competitive, particularly on Platinum and VIP accounts, which tend to be closer to the industry average. Saxo is rated 5 out of 5 stars for commissions and fees and is ranked #8 out of 36 brokers by ForexBrokers.com.
XM Group is less competitive on pricing. Its Standard account spreads are considered expensive, and it does not publish average spread data for its commission-based XM Zero account, which makes direct cost comparisons harder. XM Group is rated 3.5 out of 5 stars for commissions and fees and is ranked #34 out of 36 brokers by ForexBrokers.com.
In simple terms, Saxo is the better choice for lower trading costs overall, while XM Group trails behind in this category. If fees are a top concern, Saxo has the stronger edge for both everyday traders and high-volume clients.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average spread (EUR/USD) - Standard account | 1.0 | 2 |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and XM Group both give traders access to forex, exchange-traded shares on U.S. and international exchanges, and cryptocurrency CFDs. Neither broker lets you buy delivered crypto, so if you want to own actual coins, neither platform currently supports that. Saxo does not offer copy trading, while XM Group does, which may appeal to beginners who want to follow other traders.
Where Saxo pulls ahead is variety. It offers about 71,000 tradeable symbols and 190 forex pairs, compared with XM Group’s 1,429 symbols and 55 forex pairs. That wider selection helps explain why Saxo is rated 5 out of 5 for Range of Investments and ranked #3 out of 36 brokers by ForexBrokers.com, while XM Group scores 4.5 stars and ranks #19.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 1429 |
| Forex Pairs (Total) | 190 | 55 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| 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 XM Group both give traders a choice of free demo accounts, plus Windows desktop and web-based platforms, so each broker covers the core ways most people want to trade. Both also let you place trades directly from a chart, which can make it easier to act on price moves without switching screens. On Trading Platforms and Tools, Saxo stands out with its own in-house platform, while XM Group does not offer a proprietary platform.
XM Group has the edge for traders who want popular extras, since it supports copy trading as well as MetaTrader 4 and MetaTrader 5, features Saxo does not provide. Saxo, however, is rated 5 stars for Trading Platforms and Tools and ranks #3 out of 36 brokers on ForexBrokers.com, while XM Group is rated 4 stars and ranks #27. In short, Saxo is a stronger pick for platform quality overall, while XM Group may suit traders who prefer MetaTrader or copy trading.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| 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 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and XM Group both offer mobile trading apps for iPhone and Android, and each lets users set stock or forex price alerts, sync watchlists with their online account, and draw trendlines on charts. This means traders can move between mobile and web platforms without losing track of their favorite markets or chart work. For everyday mobile use, both apps cover the basics well and make it easy to manage trades on the go.
Where Saxo pulls ahead is charting and app quality. Saxo’s mobile app includes 64 technical studies, autosaves chart drawings, and earns a 5-star Mobile Trading Apps rating, ranking #3 out of 36 brokers by ForexBrokers.com. XM Group offers 30 technical studies, does not auto save drawings, and is rated 4 stars with a #26 ranking. For traders who want more chart tools and smoother mobile chart use, Saxo has the edge over XM Group.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Saxo and XM Group both deliver daily market commentary, forex news from major sources such as Bloomberg and Reuters, a sentiment tool, and an economic calendar, so either broker gives traders plenty of ways to follow market moves. Both are also rated 5 stars for Research. However, Saxo stands out for its extra research depth, including Autochartist tools, while XM Group does not offer Autochartist but does include Trading Central tools such as Technical Analytics.
When it comes to overall research ranking, Saxo is placed #1 out of 36 brokers by ForexBrokers.com, while XM Group is ranked #8. That gap suggests Saxo offers a slightly stronger research package overall, especially for traders who want more built-in analysis tools, while XM Group still provides a strong and useful mix of news, commentary, and market insight.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to learn forex or CFD trading, both Saxo and XM Group offer a strong set of educational tools. Each broker provides forex and CFD learning content with at least 10 dedicated resources, monthly educational webinars, and plenty of videos for both new and more experienced traders. In other words, beginners can expect help with the basics from either platform, along with ongoing live learning opportunities.
When comparing them side by side, both brokers receive a 5-star Education rating, but XM Group has the edge in third-party ranking. ForexBrokers.com places XM Group at #5 out of 36 brokers for Education, while Saxo ranks #12. That makes XM Group the stronger pick if you want the higher-ranked education hub, though Saxo still gives beginners a wide range of useful learning materials.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| 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 XM Group. Saxo finished with an overall rank of #3, while XM Group finished with an overall rank of #16.
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
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XM Group
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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Online brokers Saxo and XM Group do not support buying actual (delivered) cryptocurrencies, but both provide access to trade cryptocurrency CFDs.
Saxo vs XM Group funding comparison: for deposits and withdrawals, neither broker supports ACH or SEPA transfers or PayPal, both support bank wire transfers, only XM Group offers Skrill (Saxo does not), and Visa/Mastercard availability is not specified for either.
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 | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
| Broker Screenshots | Saxo | XM Group | |
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| Regulation | Saxo | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1992 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| 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 | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| 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 | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 1429 | |
| Forex Pairs (Total) | 190 | 55 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| 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 | XM Group | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.0 | 2 | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | Saxo | XM Group | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| 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 | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | XM Group | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | XM Group | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | Saxo | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
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