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 |
Saxo and XTB both offer pricing that is competitive, but Saxo comes out ahead overall for commissions and fees. Saxo is rated 5 stars and ranked #8 out of 36 brokers for this category, while XTB is rated 4.5 stars and ranked #13 out of 36. Saxo’s forex trading is commission-free in most cases, though traders who trade less than 50,000 units per month pay a $3 ticket fee per side. Its spreads are especially appealing for larger, more active accounts, with average EUR/USD spreads in November 2023 of 1.1 pips for Classic, 1.0 pip for Platinum, and 0.9 pip for VIP.
XTB is also fairly priced, but it lands a bit behind Saxo in this comparison. XTB is rated 4.5 stars and ranked #13 out of 36 brokers for commissions and fees. Its Standard account uses spread-only pricing, and its Professional account is commission-based, though that option is now limited and being phased out in many regions. In Q4 2023, the average EUR/USD spread was 1 pip, which puts XTB in line with the market, but not quite among the cheapest options available.
For everyday retail traders, Saxo may be the better fit if you want lower costs at higher volumes or qualify for Platinum or VIP pricing, while XTB is a solid choice if you prefer a simple spread-only account. Saxo also offers potential savings through its loyalty program and waives custody fees for share trading when securities lending is enabled, while XTB provides active trader rebates through its Lower Spread Group program. Overall, Saxo has the edge on pricing, especially for larger accounts, but both brokers are reasonably competitive.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.06 |
| All-in Cost EUR/USD - Raw spread account | N/A | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, Saxo offers a much wider selection than XTB. Saxo lists about 71,000 tradeable symbols and 192 forex pairs, compared with XTB’s 10,521 symbols and 71 forex pairs. Both brokers let you trade forex as CFDs or spot contracts, and both also provide access to exchange-traded shares on U.S. and international stock markets, so you can buy real company shares rather than only CFDs.
There are a few key differences to note. XTB lets clients buy actual cryptocurrency, while Saxo does not; both brokers do offer cryptocurrency CFDs. Neither broker supports copy trading. On ForexBrokers.com, both Saxo and XTB receive 5 stars for Range of Investments, but Saxo ranks higher overall in this category, placing #3 out of 36 brokers versus XTB at #14.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 10521 |
| Forex Pairs (Total) | 192 | 71 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | Yes |
| 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 and XTB both give traders a free demo account, a proprietary platform, and a web-based trading platform, so each makes it easy to practice and trade online without a download. Both also let users place trades directly from a chart, but neither broker supports copy trading, MetaTrader 4, or MetaTrader 5. For desktop users, Saxo has the edge because it offers a Windows-based trading platform, while XTB does not.
When it comes to trading platforms and tools, Saxo is rated 5 out of 5 stars and ranks #3 out of 36 brokers at ForexBrokers.com, while XTB is rated 4.5 stars and ranks #9. That makes Saxo the stronger pick overall for traders who want a wider platform choice and a slightly more polished set of tools, although both brokers still cover the basics well for everyday trading.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 64 | 92 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and XTB both make it easy to trade on the go, with iPhone and Android apps, price alerts, watchlist syncing, trendline drawing, and automatic saving of chart drawings. That means users can move between the mobile app and their online account without losing track of watchlists or chart work, which is helpful for traders who want a simple setup across devices.
Where they differ is mainly in charting depth and overall app standing. XTB offers more technical studies in its mobile app, with 104 compared with Saxo’s 64, but Saxo scores higher overall for mobile trading apps, earning a 5-star rating and a #3 rank out of 36 brokers from ForexBrokers.com. XTB is still strong, with a 4.5-star rating and a #8 rank, making both apps solid choices, with Saxo edging ahead on overall mobile experience and XTB leading on chart indicator choice.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 104 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and XTB both give traders daily market commentary and an economic calendar, so either one can help you keep up with major events and market moves. Each is also rated 5 out of 5 stars for research, showing that both brokers offer strong support for market analysis.
That said, Saxo has the edge for research depth. It provides forex news from major sources such as Bloomberg, Reuters, and Dow Jones, plus Autochartist tools for technical and fundamental analysis. XTB does not offer those news or Autochartist features, but it does include a sentiment tool that shows long and short positions across markets, which Saxo does not. In ForexBrokers.com’s research rankings, Saxo is placed first out of 36 brokers, while XTB comes in ninth.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo and XTB both give beginner traders plenty of learning material, including forex and CFD education with at least 10 topic-specific pieces, monthly online webinars, and 10 or more videos each for both beginners and more experienced traders. In plain terms, that means either broker can help new users build confidence with basic trading concepts, while also offering content for traders who want to go further.
When it comes to education quality, both brokers are rated 5 out of 5 stars, which puts them in the top tier. XTB edges out Saxo slightly in ForexBrokers.com’s education ranking, placing #11 out of 36 brokers compared with Saxo’s #12, but the difference is small and both stand out as strong choices for learning support.
| Feature |
Saxo
|
XTB
|
|---|---|---|
| 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 XTB. Saxo finished with an overall rank of #3, while XTB finished with an overall rank of #7.
Saxo is a 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 |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
When comparing Saxo vs XTB for cryptocurrency trading, XTB stands out by offering access to actual, delivered cryptocurrency, while both Saxo and XTB also provide cryptocurrency CFD trading.
In a Saxo vs XTB comparison of deposit and withdrawal methods, both online brokers do not offer ACH/SEPA and both support bank wire transfers, but XTB additionally accepts PayPal and Skrill while Saxo does not, and Visa/Mastercard availability for both is not specified.
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 |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| 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) | No | No | |
| Japan (FSA 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, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | XTB | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 10521 | |
| Forex Pairs (Total) | 192 | 71 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | Yes | |
| 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 | XTB | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1.06 | |
| All-in Cost EUR/USD - Raw spread account | N/A | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | XTB | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | No | No |
| Trading Platforms | Saxo | XTB | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | XTB | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 92 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | XTB | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | XTB | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | XTB | |
|---|---|---|---|
| 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 | XTB Review |
| Overall | Saxo | XTB | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | XTB Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
Pepperstone
FP Markets
Tickmill