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 comparing the online brokers Saxo and XM Group, Saxo emerges as the most seasoned, having been founded in 1992, while XM Group started operations in 2009. Despite both companies being privately owned and not listed on stock exchanges, Saxo distinguishes itself as a bank, unlike XM Group. The regulatory landscape further underscores Saxo's reliability; it holds an impressive seven Tier-1 licenses, which are categorized as highly trusted, contrasting with XM Group's four. Each company is backed by one Tier-2 license, adding another layer of regulation to their profiles.
Saxo's Trust Score rating is a perfect 99 out of 99 according to ForexBrokers.com, reflecting the highest level of trustworthiness, compared to XM Group's still respectable score of 93. These scores underscore Saxo's superior positioning in the regulatory and trustworthiness aspects in the online brokerage arena. Whether you're prioritizing experience, regulatory confidence, or trust ratings, Saxo appears to have the edge in this comparison.
| 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 |
Comparing commissions and fees, Saxo is the stronger value overall for many traders. Saxo earns 5/5 stars and ranks #9 out of 63 brokers for Commissions and Fees, while XM Group earns 4/5 stars and ranks #34 out of 63. XM Group’s Standard account spreads are expensive, and the broker does not publish average spreads for its commission-based XM Zero account, which can make true costs harder to gauge.
Saxo uses spread-only pricing for forex (no commission), with one exception: traders doing under 50,000 units per month pay a $3-per-side ticket fee. As of November 2023, average EUR/USD spreads were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP); minimums ran about 0.2 pips lower than those averages. Pricing on Platinum and VIP sits closer to the industry average, while Classic is slightly higher. Account minimums: Classic $0; Platinum $200,000 (AUD 300,000 in Australia) or via Loyalty upgrade (e.g., roughly $40M in forex volume earns enough points for a 12‑month Platinum upgrade); VIP requires $1,000,000 or a Loyalty upgrade tied to about $167M in forex volume for one year. VIP offers the most savings, and Saxo waives custody fees on share trading if you opt into securities lending.
XM Group’s Standard account carries higher spreads, and because average spreads for the XM Zero account aren’t published, it’s tougher to estimate all-in trading costs in advance. In short: Saxo tends to favor active or high‑balance traders seeking lower, more transparent pricing, while XM Group is less competitive on spread costs and disclosures in this category.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.6 |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 |
| 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 support forex trading as CFDs or spot contracts, but their overall catalogs differ widely. Saxo lists about 70,000 tradeable symbols and 190 forex pairs, while XM Group offers 1,394 symbols and 55 forex pairs. If you want the largest selection of markets and currency pairs in one place, Saxo clearly has the edge.
Both brokers let you buy exchange-traded securities on U.S. and international exchanges, offer copy trading, and provide cryptocurrency exposure via CFDs (neither sells actual, delivered crypto). For range of investments, Saxo earns 5 stars and ranks #3 out of 63 brokers at ForexBrokers.com, whereas XM Group scores 4.5 stars and ranks #25. In short, Saxo suits investors seeking extensive market access, while XM Group covers the essentials with a smaller lineup.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1394 |
| Forex Pairs (Total) | 190 | 55 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | 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 vs XM Group: both brokers provide a free demo account for simulated trading, web-based platforms, Windows desktop platforms, copy trading, and the ability to place trades directly from charts. The key difference is software choice. Saxo offers a proprietary, in-house platform, while XM Group does not. Instead, XM centers on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) across web and desktop, which is ideal if you want the familiar MetaTrader experience.
For trading platforms and tools, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers; XM Group earns 4 stars and ranks #33. Choose Saxo if you want an in-house platform with strong chart trading and streamlined workflows. Pick XM Group if you prefer the MT4/MT5 ecosystem, with its wide range of add-ons and automated strategies—while still getting copy trading and a free demo account.
| 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 | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and XM Group both cover the basics for mobile trading: each has an iPhone app and an Android app, supports price alerts, syncs your watchlists with your online account, and lets you draw trendlines on charts. That means you can track markets, get notified, and manage lists seamlessly on either platform, whether you’re on your phone or desktop.
Where they differ is charting depth and saved work. Saxo offers 64 technical studies versus 30 at XM Group, and Saxo automatically saves your chart drawings, while XM Group does not. These differences are reflected in independent ratings: Saxo earns 5 stars and ranks #2 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while XM Group holds 4 stars and ranks #31. If you want more indicators and saved annotations, Saxo is the stronger pick; if you need essential tools and alerts, XM Group still gets the job done.
| 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.
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 (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.
Saxo and XM Group both deliver full forex and CFD education that clears the 10-piece mark, making them beginner-friendly from day one. Each broker runs live client webinars at least monthly and provides 10-plus beginner trading videos that explain key topics step by step. If you learn best through video and regular sessions, both lineups make it easy to get started and build confidence.
Beyond the basics, both add 10-plus advanced trading videos so you can keep learning as your skills grow. For quality, ForexBrokers.com rates Education at 5 stars for both brands, though XM Group ranks higher in the category (#7 of 63) compared with Saxo (#13 of 63). In short, you’ll get excellent beginner education with either broker, while XM Group edges ahead in the independent ranking.
| 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 #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
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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 | 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 | ||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA 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) | 70000 | 1394 | |
| Forex Pairs (Total) | 190 | 55 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | 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 | 1.1 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 | |
| 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 | Yes | 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) | 64 | 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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