Saxo vs XM Group 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 XM Group.
Can I trust Saxo?
Saxo is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), zero 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 XM Group?
XM Group is not publicly-traded and does not operate a bank. XM Group is authorised by four Tier-1 regulators (highly trusted), one Tier-2 regulator (trusted), zero Tier-3 regulators (average risk), and one Tier-4 regulator (high risk). XM Group is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), the Financial Conduct Authority (FCA) via its parent company's other brand Trading.com, and 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 XM Group good?
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
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 XM Group?
XM Group requires a minimum deposit of $5 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 XM Group provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).
Does Saxo or XM Group 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 XM Group 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 XM Group holds 4. Both Saxo and XM Group hold 1 global Tier-2 licenses.
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 XM Group (88).
Which trading platform is better: Saxo or XM Group?
To compare the trading platforms of both Saxo and XM Group, 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 XM Group:
- Proprietary Platform - No
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - Yes
- ZuluTrade - No
- 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. XM Group offers MetaTrader 4 (MT4), while Saxo does not. Forex traders also appreciate the ability to engage in social copy trading. Saxo and XM Group both offer copy trading.
What can I trade with each broker?
Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to XM Group's 55 available pairs. If you are interested in trading a full range of securities, Saxo offers traders access to 70000 tradeable symbols, while XM Group offers access to 1394 tradeable symbols; so Saxo offers 68606 more tradeable symbols than XM Group.
We found in our testing that Saxo offers a more diverse selection of investment options than XM Group, allowing you to trade both brokers allow traders 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.