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.
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 considering online brokers, Saxo and XM Group stand out for their strong regulatory credentials, albeit with notable differences. Founded in 1992, Saxo operates as a bank, enhancing its credibility and trust in the financial markets. It holds an impressive seven Tier-1 licenses, which are highly valued for investor protection and regulatory compliance. This comprehensive regulatory framework contributes to Saxo's exceptional Trust Score of 99 out of 99, indicating the highest level of trustworthiness according to ForexBrokers.com.
In contrast, XM Group, founded in 2009, is not a bank, yet it maintains a solid regulatory foundation with four Tier-1 and one Tier-2 licenses. Although it is not on a stock exchange, much like Saxo, XM Group has a commendable Trust Score of 88 out of 99. This places it in the trusted category, reflecting a commitment to safety and regulation. While both brokers are not publicly traded, their regulatory standings offer potential investors a clear picture of their reliability and market position.
| 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 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of Saxo and XM Group, Saxo stands out for providing excellent all-around pricing, especially for active traders, high-volume traders, and those maintaining substantial account balances. Saxo's accounts, such as Classic, Platinum, and VIP, offer average EUR/USD spreads of 1.1, 1.0, and 0.9 pips, respectively. The Platinum and VIP accounts are priced more in line with the industry average, whereas the Classic account is slightly higher. Notably, Saxo waives custody fees for share trading if traders opt into securities lending. Saxo is commission-free for forex trading, although a ticket fee applies for traders with low monthly trading volumes.
In contrast, XM Group's standard account spreads are considered expensive, and the broker does not publish average spreads for its XM Zero account which is commission-based. Due to these factors, Saxo edges out XM Group in terms of providing cost-effective trading solutions.
In terms of rankings, Saxo is awarded 5 stars and is placed 9th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com. Meanwhile, XM Group holds a 4-star rating and ranks 33rd, indicating that while both brokers are reputable, Saxo generally offers better pricing for those prioritizing competitive fees.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.1 | 1.6 |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| 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 the range of investments offered by Saxo and XM Group, both brokers provide extensive options for traders, but Saxo stands out with a broader selection. Saxo offers a staggering 70,000 tradeable symbols including 190 forex pairs, whereas XM Group provides 1,394 symbols with 55 forex pairs. Both brokers allow clients to trade forex as CFDs or spot contracts and offer exchange-traded securities on both U.S. and international exchanges, which means you can buy shares like Apple and Vodafone with either broker. Additionally, both Saxo and XM Group offer copy trading and enable investment in cryptocurrency derivatives, although neither offers the purchase of actual cryptocurrency.
Saxo enjoys a top-tier rating with 5 stars for its range of investments, ranking 3rd out of 63 brokers according to ForexBrokers.com. On the other hand, XM Group receives a slightly lower rating of 4.5 stars and is ranked 23rd in the same category. This distinction is largely due to Saxo’s broader array of tradable symbols and forex pairs, providing a more varied investment platform for those seeking diverse trading opportunities. Both brokers are highly respected in the industry, but Saxo’s extensive offerings make it a more attractive choice for investors looking for a wide investment spectrum.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1394 |
| Forex Pairs (Total) | 190 | 55 |
| 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 | 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 Saxo and XM Group for their trading platforms and tools, both brokers offer free virtual demo accounts, allowing traders to simulate trading without financial risk. Saxo has developed an in-house proprietary platform alongside its Windows-based desktop and web-based platforms, giving users a cohesive and tailored experience. On the other hand, XM Group relies on the well-known MetaTrader 4 and MetaTrader 5 platforms, offering a familiar interface but not a proprietary one. Despite both brokers supporting copy trading, neither incorporates DupliTrade or ZuluTrade, which might matter to traders seeking these specific options.
Saxo outshines XM Group in technical offerings, featuring 20 drawing tools compared to XM's 15, and provides the capability to trade directly from stock charts, a feature that both brokers include. However, Saxo extends its lead with a comprehensive 60-column watch list, a stark contrast to XM Group's 7 columns. These impressive distinctions contribute to Saxo's ultimate recognition: a five-star rating for its trading platforms and tools and a number one ranking out of 63 brokers by ForexBrokers.com. Meanwhile, XM Group holds a respectable four-star rating and ranks 31st in the same category.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and XM Group, both brokers provide comprehensive platforms for iPhone and Android users. Each app features stock and forex price alerts, watchlist symbol syncing to align with your online account, and tools to draw trendlines on charts. Both Saxo and XM Group allow users to view multiple time frames, from daily to intraday charts. A standout feature for Saxo is that it automatically saves drawings on charts, whereas XM Group does not offer this capability.
In terms of technical studies available for charting, Saxo provides 64 options, offering a wider range of analytical tools compared to the 30 studies found in the XM Group app. Both brokers enable the creation of watchlists with real-time quotes; however, Saxo's app receives top marks with a 5-star rating from users, while XM Group is rated at 4 stars. When ranked by ForexBrokers.com, Saxo places as the second-best mobile trading app out of 63 brokers, whereas XM Group stands at 29th, highlighting Saxo's superior performance and user satisfaction.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Saxo and XM Group for market research offerings, both brokers impress with daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, ensuring you stay updated with the latest market trends. They also provide sentiment-based trading tools that display the ratio of long and short positions, helping traders gauge market sentiment. Both platforms offer comprehensive economic calendars that highlight global news events, essential for making informed trading decisions.
However, Saxo and XM Group differ in their specific technical analysis tools. Saxo integrates tools from Autochartist, providing traders with advanced analysis features, while XM Group offers resources from Trading Central, known for its technical analytics capabilities. Neither broker provides market research from TipRanks or tools from Acuity Trading. According to ForexBrokers.com, Saxo boasts a top-ranking research rating of 5 stars and is positioned as the number one broker, while XM Group also earns a commendable 5-star rating, securing the eighth position among 63 brokers.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for forex and CFDs, both Saxo and XM Group excel in providing a wealth of content to assist beginners. Each broker offers over 10 educational pieces, including articles, videos, and access to archived webinars, making it easy for new traders to find the guidance they need. Both companies host regular monthly webinars and provide a searchable archive of past sessions, allowing traders to expand their knowledge at their own pace. Additionally, Saxo and XM Group cater to beginners with at least 10 introductory videos on key trading topics, making it easier for newcomers to get started.
For those looking to deepen their understanding, both Saxo and XM Group also offer a collection of advanced videos for more experienced traders. An important distinction between the two is Saxo's inclusion of an investor dictionary with definitions for over 50 investing terms, which XM Group does not provide. Despite these differences, both brokers receive high praise for their educational offerings, each earning a five-star rating in this category. However, XM Group has a slightly higher ranking from ForexBrokers.com, coming in at #7 out of 63 brokers, compared to Saxo's rank of #13. This suggests that while both brokers are strong choices for educational resources, XM Group holds a slight edge in recognition for its educational excellence.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| 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 | No |
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 #17.
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
|
XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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While neither Saxo nor XM Group allows investors to purchase actual, delivered cryptocurrency, both brokers provide the option to trade cryptocurrency derivatives.
When comparing the online brokers Saxo and XM Group, neither offers ACH or SEPA transfers or PayPal for fund transactions, while only XM Group supports Skrill, and both provide options for Visa, Mastercard, and bank wire 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 | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
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| Regulation | Saxo | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| 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 | 1 | |
| 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 (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 1394 | |
| Forex Pairs (Total) | 190 | 55 | |
| 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 | 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| 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 | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | XM Group | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | Saxo | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | Saxo | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
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