Written by ForexBrokers.com
In this head to head comparison of Saxo vs XTB, 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 online brokers Saxo and XTB, it's clear that both have strong reputations, but they differ in several key areas. Saxo, founded in 1992, operates as a bank and is privately owned. It commands a top Trust Score rating of 99 from ForexBrokers.com, thanks in part to its seven Tier-1 licenses—indicating a high level of reliability. Meanwhile, XTB, founded a decade later in 2002, is publicly traded, which offers investors a layer of transparency. XTB achieves a Trust Score of 96, bolstered by its two Tier-1 and two Tier-2 licenses, showcasing its solid standing in the market.
Both brokers provide an array of trading services and maintain high trust levels, but Saxo's status as a bank and its extensive Tier-1 licensing set it apart as a highly dependable choice. XTB, however, stands out for those who prefer a publicly traded company that combines transparency with a strong regulatory foundation. Each broker, with its distinct background and regulatory credentials, caters to different trader preferences and risk tolerances.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Year Founded | 1992 | 2002 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Saxo and XTB are two reputable brokers with different structures for commissions and fees, catering to a variety of trading needs. Saxo stands out with its excellent pricing across various account types, making it attractive for active traders, high-volume investors, and those with large account balances. With average spreads on the EUR/USD at 1.1, 1.0, and 0.9 pips respectively for Classic, Platinum, and VIP accounts as of November 2023, Saxo offers competitive rates, especially for its premium accounts. The broker earns a 5-star rating for commissions and fees and ranks #9 out of 63 brokers. Additionally, Saxo's commission-free model for forex trading contributes to its appeal, though traders dealing in smaller volumes face a minor ticket-fee.
In contrast, XTB provides two main account options: a spread-only Standard account and a commission-based Professional account, although the latter is being phased out. With average spreads on the EUR/USD at 1 pip as per Q4 2023 data, XTB maintains pricing in line with industry norms. However, Saxo outshines it slightly in this category, as XTB received a 4.5-star rating and ranks #11 in commissions and fees. Beyond the pricing structure, XTB incentivizes active traders through its Lower Spread Group, offering rebates from 5% to 30% on spreads for traders who meet specific volume criteria. This makes it a competitive choice for those trading large lots within the EU who qualify as elective professionals.
Both brokers offer unique advantages tailored to different trading needs. Saxo requires substantial minimum deposits for its premium accounts, like the Platinum account at $200,000 and the VIP account at $1,000,000, but offers significant pricing benefits in return. On the other hand, XTB's Standard account has a more accessible minimum deposit, starting at 250 base currency units, making it more approachable for retail forex traders. For those prioritizing lower costs and rebates, XTB’s active trader discounts provide a compelling reason to choose this broker, despite its slightly lower ranking compared to Saxo.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 1.00 |
| All-in Cost EUR/USD - Active | 0.9 | 1.00 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 it comes to the range of investments, both Saxo and XTB present compelling options for traders, although their offerings differ in scope and depth. Saxo impressively provides access to 70,000 tradeable symbols compared to XTB’s 7,184. Additionally, Saxo offers 190 tradeable forex pairs, while XTB features 71. Both platforms enable forex trading through CFDs or spot contracts, ensuring flexibility in trading strategies. Investors looking to trade exchange-traded securities will find both platforms accommodating, as they provide access to U.S. and international markets, allowing clients to purchase shares like Apple and Vodafone.
In terms of additional features, Saxo offers the advantage of copy trading, a service XTB does not currently provide. However, both platforms offer cryptocurrency derivatives, allowing investors to engage with cryptocurrency markets without purchasing the actual coins. Despite XTB’s more limited selection of tradeable symbols and forex pairs, both brokers hold high accolades, each receiving 5-star ratings for their range of investments. Notably, Saxo is ranked third out of 63 brokers by ForexBrokers.com for its investment variety, while XTB is ranked fourteenth, underscoring Saxo's broader range of offerings.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 7184 |
| Forex Pairs (Total) | 190 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| 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 exploring the trading platforms and tools of Saxo and XTB, investors will find that both brokers provide a comprehensive suite of features to enhance the trading experience. Saxo offers a notable advantage with its proprietary platform that is available on both Windows-based desktops and web browsers, just like XTB’s own platform. Both companies provide paper trading options with virtual demo accounts, an essential feature for beginners. While Saxo offers advanced features like copy trading, XTB does not support this functionality, making Saxo attractive for traders interested in this method.
Charting capabilities differ between the two, with XTB providing 32 drawing tools compared to Saxo's 20. However, Saxo impresses with its ability to offer 60 columns in watchlists, allowing for extensive market analysis. Both platforms lack support for popular tools like MetaTrader 4 or 5 and ZuluTrade, but they excel in offering direct trading from stock charts, enhancing user experience. In ratings, Saxo holds a five-star status for trading platforms and tools, ranking first out of 63 brokers on ForexBrokers.com, while XTB attains a commendable 4.5 stars, coming in at ninth place.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 39 |
| Charting - Drawing Tools (Total) | 20 | 32 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
If you're deciding between Saxo and XTB for mobile trading, both offer solid options for iPhone and Android users. Each app provides vital features like stock and forex price alerts, the ability to draw trendlines, and support for multiple time frames on charts. However, Saxo takes the lead with its watchlist syncing capabilities, allowing users to have their watchlists update seamlessly between the app and online account. This feature isn't available with XTB. Saxo also offers an impressive 64 technical studies for its charting tools, compared to XTB's 39, giving traders a wider array of options for analysis.
Both platforms auto-save drawings on stock or forex charts and allow users to create watchlists with real-time quotes. When it comes to ratings, Saxo edges out with a perfect 5-star rating, outranking XTB's 4.5 stars. According to ForexBrokers.com, Saxo is ranked #2 out of 63 brokers for mobile trading apps, while XTB holds the #8 spot. This suggests that Saxo may offer a slightly more comprehensive mobile trading experience, especially for traders who value charting capabilities and cross-platform watchlist synchronization.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 39 |
| 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 XTB in terms of market research, both platforms shine with their daily market commentaries and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. Traders using either broker can rely on comprehensive insights to guide their investment decisions. Saxo and XTB both offer sentiment-based trading tools to give users a snapshot of market sentiments across various currency pairs, and they also provide detailed economic calendars showcasing global news events. However, Saxo stands out by offering tools from Autochartist, enhancing its research toolbox for technical and fundamental analysis, something XTB currently lacks.
Both Saxo and XTB are highly rated for their research capabilities, each earning a stellar five out of five stars. However, a closer look at rankings by ForexBrokers.com positions Saxo as the top choice, securing the number one spot among 63 brokers, while XTB is ranked seventh. While both brokers deliver reliable market insights and tools, Saxo's edge in Autochartist tools and top ranking might appeal to those seeking a more diversified research experience.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| 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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Saxo and XTB for educational resources tailored to beginners, both online brokers deliver comprehensive offerings. Saxo excels with its extensive collection of educational content, including a variety of articles, videos, and archived webinars focusing on forex and CFDs. Both Saxo and XTB regularly host online webinars, making them accessible for continued learning. Each platform provides a searchable archive of past webinars, ensuring that users can revisit educational material at their convenience. For beginners specifically, both brokers offer more than ten educational videos that simplify trading concepts, helping new investors enhance their skills.
While both brokers offer a similar array of educational resources, Saxo distinguishes itself with an extensive investor dictionary containing definitions of over 50 investing terms, a feature XTB does not provide. Despite this slight difference, both brokers achieve a stellar rating of five stars for their educational offerings. However, XTB narrowly edges out Saxo in overall educational rankings by ForexBrokers.com, securing the 11th spot, while Saxo is ranked at 13th among 63 brokers. Whether you choose Saxo or XTB, both platforms give beginners a solid foundation to start their trading journey.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| 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 XTB. Saxo finished with an overall rank of #3, while XTB finished with an overall rank of #7.
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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XTB
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 96 |
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In comparing online brokers Saxo and XTB, both do not provide the option to purchase actual (delivered) cryptocurrency, but each offers the ability to buy cryptocurrency derivatives.
In comparing online brokers Saxo and XTB, both platforms support depositing and withdrawing funds via Visa, Mastercard, and bank wires, however, XTB additionally offers PayPal and Skrill options, which are not available with Saxo.
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 | XTB | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | XTB Review |
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| Regulation | Saxo | XTB | |
|---|---|---|---|
| Trust Score | 99 | 96 | |
| Year Founded | 1992 | 2002 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | XTB | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Yes | |
| 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 | XTB | |
|---|---|---|---|
| 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 | XTB | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 7184 | |
| Forex Pairs (Total) | 190 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | XTB | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.00 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.00 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | XTB | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | XTB | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | XTB | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 39 | |
| Charting - Drawing Tools (Total) | 20 | 32 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | XTB | |
|---|---|---|---|
| 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 | 39 | |
| 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 | XTB | |
|---|---|---|---|
| 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 | XTB | |
|---|---|---|---|
| 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 | XTB | |
|---|---|---|---|
| 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 | XTB Review |
| Overall | Saxo | XTB | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | XTB Review |
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