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 | 1 |
| Tier-4 Licenses | 0 | 2 |
Comparing Saxo vs XTB on commissions and fees: Saxo earns 5 out of 5 stars and is ranked #9 of 63 for Commissions and Fees, while XTB earns 4.5 out of 5 stars and is ranked #12 of 63. Saxo tends to suit high-volume traders and those with larger balances, whereas XTB’s simple setup and rebates can appeal to active retail traders. Both rely mainly on spreads for forex pricing, with different perks and thresholds that can lower costs as your trading volume rises.
Saxo’s forex pricing is spread-only (no commission), with a small exception: if you trade under 50,000 units per month, there’s 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), with minimums about 0.2 pips tighter. The Classic account now has a $0 minimum deposit, while Platinum requires $200,000 and VIP requires $1,000,000; both tiers can also be unlocked via Saxo’s loyalty program (e.g., about $40M in forex volume for Platinum or roughly $167M for VIP, each for 12 months). Saxo also waives share-trading custody fees if you opt into securities lending.
XTB offers a spread-only Standard account and a commission-based Pro account that’s being phased out and is generally limited to elected professionals in the U.K. and EU. Using Q4 2023 data, the average EUR/USD spread was 1 pip on the Standard account, with a 250 base-currency minimum deposit. Active traders can tap XTB’s Lower Spread Group, which rebates 5% to 30% of the spread once you hit monthly volume tiers (from 20 lots up to 1000 lots). Overall pricing sits around the industry average, and the Standard account is the go-to for most retail traders.
| 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.
Saxo offers one of the widest ranges of investments, with 70,000 tradeable symbols and 190 forex pairs, compared with XTB’s 7,184 symbols and 71 pairs. Both offer forex trading, whether as CFDs or spot contracts, and both allow you to buy exchange-traded securities on U.S. and international exchanges—think Apple on Nasdaq and Vodafone in London. Each broker also supports cryptocurrency exposure through derivatives, though neither lets you buy actual coins.
Key differences include copy trading, which Saxo offers and XTB does not. While both earn a 5-star rating for Range of Investments, ForexBrokers.com ranks Saxo higher (#3 of 63) than XTB (#15 of 63). If you want the widest selection—especially in forex pairs and overall symbols—Saxo is the better fit. XTB still covers a wide range that will suit many traders.
| 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
|
XTB
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 96 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Saxo | XTB | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | XTB Review |
| Broker Screenshots | Saxo | XTB | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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 | 1 | |
| 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 | ||
| 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) | |||
| 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) |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | XTB Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill