Written by ForexBrokers.com
In this head to head comparison of Saxo vs Xtrade, 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.
Saxo and Xtrade are both recognized online brokers, yet they have distinct differences in their regulatory standings. Founded in 1992, Saxo has established itself as a significant player in the online brokerage industry. It operates as a bank and boasts seven Tier-1 licenses, which are considered highly trusted by ForexBrokers.com. This strong regulatory footing contributes to Saxo's impressive Trust Score of 99 out of 99, indicating a high level of reliability.
In contrast, Xtrade, which commenced operations in 2003, does not have banking status and holds only one Tier-1 license, alongside one Tier-2 license. With a Trust Score of 74 out of 99, Xtrade is classified as average risk according to ForexBrokers.com. Both brokers are privately held and not publicly traded, offering different levels of security and regulatory reassurance to potential investors. Saxo's higher trust score and greater number of high-trust licenses distinguish it as a safer choice for users prioritizing regulatory confidence.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Year Founded | 1992 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Comparing commissions and fees, Saxo clearly leads Xtrade. Saxo earns 5 stars and ranks #9 by ForexBrokers.com for Commissions and Fees, while Xtrade holds 2.5 stars and ranks #64. Saxo also publishes detailed spread data, whereas Xtrade does not provide average spread figures, making it harder to estimate trading costs with Xtrade.
Saxo is commission-free on forex (spread-only). If you trade less than 50,000 units per month, there’s a $3-per-side ticket fee. As of November 2023, Saxo’s average EUR/USD spreads were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP), with minimums about 0.2 pips lower. Classic is slightly above the industry average, while Platinum and VIP move closer to it—pricing tends to be most competitive for active, high-volume traders or those maintaining larger balances. Account minimums: Classic $0; Platinum $200,000 (AUD 300,000 for forex in Australia) or via Loyalty upgrades (e.g., ~$40M forex volume for 12 months of Platinum); VIP $1,000,000 deposit or upgrade via about $167M in forex volume. Saxo also waives custody fees on share trading if you opt into securities lending.
For Xtrade, average spread data is not available. Its 2.5-star Commissions and Fees rating and #64 category ranking place it behind Saxo on pricing transparency and overall trading costs. Traders prioritizing clear, competitive spreads and tiered pricing for higher volumes will likely find Saxo the more cost-effective choice.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 and Xtrade both let you trade forex as CFDs or spot contracts, but their product ranges differ greatly. Saxo lists about 70,000 tradeable symbols versus 482 at Xtrade, and offers 190 forex pairs compared with Xtrade’s 56. Saxo also supports buying exchange-traded stocks on U.S. and international exchanges (think Apple or Vodafone), while Xtrade does not offer real share dealing. For extras, Saxo includes copy trading; Xtrade does not. Neither broker lets you buy actual cryptocurrency, though both provide access to cryptocurrency derivatives.
These differences are reflected in independent scores: ForexBrokers.com rates Saxo 5 stars and ranks it #3 out of 63 brokers for Range of Investments, while Xtrade earns 3.5 stars and ranks #50. In short, Saxo suits investors who want broad, multi-asset access including real stocks, whereas Xtrade is better for a simpler lineup focused on CFDs, forex, and crypto derivatives.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 482 |
| Forex Pairs (Total) | 190 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
Saxo and Xtrade both make it easy to get started with a free demo account for paper trading, and each offers its own in-house platform along with a web-based platform you can run in your browser. Saxo also provides a downloadable Windows desktop platform, while Xtrade does not. Copy trading is available with Saxo, but not with Xtrade. Neither broker supports MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Both let you place trades directly from price charts, which can speed up execution for active traders.
For trading platforms and tools, ForexBrokers.com rates Saxo at 5 stars (ranked #1 out of 63 brokers), while Xtrade earns 3.5 stars (ranked #59). If you want desktop software plus copy trading and top-tier platform quality, Saxo is the stronger choice. If you prefer a simpler, browser-based setup and don’t need desktop or copy trading, Xtrade may fit your needs.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 64 | N/A |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Xtrade both offer iPhone and Android apps, but the day-to-day experience differs. Saxo includes price alerts, synced watchlists that match your web account, and watchlists with real-time quotes. Its charts are far more capable, with 64 technical indicators, the ability to draw trendlines, switch between multiple time frames (like intraday, daily, or weekly), and auto-save your drawings. Xtrade lacks these tools: no price alerts, no watchlist syncing, no real-time-quote watchlists, no trendline drawing, and no multi–time frame chart views.
These gaps show up in independent reviews: Saxo earns 5 stars and ranks #2 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while Xtrade scores 4 stars and ranks #54. If you value alerts, synced watchlists, and stronger charting on the go, Saxo is the more feature-rich mobile trading app; Xtrade may suit simpler, occasional use.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Saxo and Xtrade both cover the essentials for market research: each provides daily market commentary, top-tier forex news from sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar. Beyond the basics, Saxo stands out with Autochartist technical analysis and a sentiment tool that shows long versus short positioning across instruments—features Xtrade does not include. Neither broker offers Trading Central, TipRanks, or Acuity Trading tools.
For overall research quality, Saxo earns 5 stars and ranks #1 out of 63 brokers at ForexBrokers.com, while Xtrade holds 3.5 stars and ranks #53. If you want a wider set of in-platform tools and trader sentiment data, Saxo is the stronger pick; if you only need news, commentary, and a calendar, Xtrade covers the basics.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo vs Xtrade for beginner education: Saxo stands out for new traders. Saxo runs client webinars at least once a month and offers at least 10 beginner video lessons plus at least 10 advanced videos for when you’re ready to learn more. Xtrade does not run monthly educational webinars and does not meet the 10-video threshold for beginner or advanced topics. The provided details do not specify whether either broker has a searchable archive of past webinars, an investor dictionary with 50+ terms, or at least 10 forex/CFD-focused educational pieces.
According to ForexBrokers.com, Saxo earns 5 stars for Education and ranks 13th out of 63 brokers, while Xtrade earns 3.5 stars and ranks 46th. If you value frequent webinars and a deeper library of beginner-friendly videos, Saxo is the stronger choice; if your needs are simpler, Xtrade may still cover the basics.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | No |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) [DELETED] |
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 Xtrade. Saxo finished with an overall rank of #3, while Xtrade finished with an overall rank of #60.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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Both Saxo and Xtrade do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
When comparing online brokers Saxo and Xtrade, it's noteworthy that neither offers ACH or SEPA transfers nor PayPal for transactions, but both facilitate Visa, Mastercard, and bank wire deposits and withdrawals, with Xtrade additionally supporting Skrill.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
| Broker Screenshots | Saxo | Xtrade | |
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| Regulation | Saxo | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1992 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Xtrade | |
|---|---|---|---|
| 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 | 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 482 | |
| Forex Pairs (Total) | 190 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts [DELETED] | |||
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | Saxo | Xtrade | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade [DELETED] | |||
| ZuluTrade [DELETED] |
| Trading Tools | Saxo | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields [DELETED] | |||
| Charting - Indicators / Studies (Total) | 64 | N/A | |
| Charting - Drawing Tools (Total) [DELETED] | |||
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Saxo | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Saxo | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | |||
| Webinars | Yes | No | |
| Client Webinars (Archived) [DELETED] | |||
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) [DELETED] |
| Major Forex Pairs | Saxo | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Saxo | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
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