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 |
When it comes to comparing online brokers, Saxo stands out with its competitive pricing, especially for active and high-volume traders who can maintain large account balances. As of November 2023, Saxo’s spread data for EUR/USD averages at 1.1 pips for its Classic account, 1.0 for Platinum, and 0.9 for VIP, with these spreads being slightly higher for the Classic account than the industry average. Moreover, Saxo is commission-free for forex trading unless trading less than 50,000 units per month, which incurs a $3 fee per side. Its robust offerings have earned it a 5-star rating and a #9 rank out of 63 brokers by ForexBrokers.com for Commissions and Fees.
In contrast, Xtrade lacks transparency on its average spread data, making it difficult for traders to estimate the overall cost of trading. With a significantly lower 2.5-star rating and ranking at the bottom (#63) among 63 brokers in the Commissions and Fees category, Xtrade may not attract traders who prioritize clear and competitive pricing. These ratings imply that Xtrade might have less favorable terms for traders compared to Saxo.
In summary, Saxo provides a more appealing trading environment for those who can meet the conditions for its premium accounts, offering lower spreads and no commissions beyond very low activity thresholds. In comparison, Xtrade’s lack of disclosed spread data and lower ratings suggest it may not offer the same level of competitive pricing and favorable terms as Saxo. For traders seeking the best pricing structures, Saxo emerges as the better choice, especially for those eligible for its Platinum and VIP accounts.
| 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 | Yes | No |
| ACH or SEPA Transfers | 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.
When comparing Saxo and Xtrade in terms of their range of investment options, Saxo stands out significantly. Saxo offers an impressive 70,000 tradeable symbols compared to Xtrade's 482. Forex traders will find Saxo's 190 available forex pairs appealing, while Xtrade provides 56. Saxo also shines with access to exchange-traded securities on both U.S. and international exchanges, allowing clients to invest in companies like Apple and Vodafone. In contrast, Xtrade does not offer these securities. Both platforms provide forex trading through CFDs or spot contracts and offer cryptocurrency derivatives, but neither allows for the purchase of actual cryptocurrencies.
For investors interested in broader opportunities, Saxo also supports copy trading, which Xtrade does not offer. This feature allows Saxo users to replicate the trades of successful investors, providing an edge for those new to investing or looking for new strategies. Based on their range of investments, Saxo is rated 5 stars and ranks third out of 63 brokers according to ForexBrokers.com, while Xtrade receives a rating of 3.5 stars and is ranked 49th. This comprehensive access and variety make Saxo a preferable choice for traders seeking a broader market reach.
| 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.
When comparing the trading platforms offered by Saxo and Xtrade, both brokers provide users with free virtual demo accounts, enabling beginners to test and refine their strategies. Each broker has developed its own proprietary trading platform. However, Saxo takes the lead with versatility, offering both a Windows-based desktop platform and a web-based version, whereas Xtrade provides only a web-based platform. Traders with Saxo can take advantage of sophisticated features like copy trading, a benefit not available with Xtrade. Also, in terms of usability, Saxo enables trading directly from stock charts, just like Xtrade. Yet, for watch list customization, Saxo excels with 60 fields compared to Xtrade’s 9.
For traders who rely heavily on charting tools, they’ll find Xtrade offering an impressive 100 drawing tools, outpacing Saxo’s 20. Despite this, Saxo scores higher in overall platform effectiveness, earning a perfect five-star rating compared to Xtrade’s 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where Saxo clinches the top spot out of 63 brokers in the trading platforms and tools category, while Xtrade is ranked much lower at 58. Whether it’s the variety of trading interfaces, flexibility in trading features, or recognition in the industry, Saxo stands out as a leading choice for both newcomers and seasoned traders.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary 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 | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and Xtrade, Saxo emerges as the more feature-rich option. Both brokers offer apps for iPhone and Android users, ensuring accessibility no matter your device preference. However, Saxo stands out with its real-time price alerts and watchlist symbol syncing. This means if you make changes to your watchlist on any device, it's instantly updated across all platforms. Xtrade, on the other hand, does not offer these capabilities, which could limit a trader's ability to stay up-to-date with market shifts.
Saxo's mobile app also excels with 64 technical charting studies and the ability to draw trendlines, as well as multiple time frame views—capabilities that are not available with Xtrade. For traders who value personalized charting, Saxo ensures your drawings are automatically saved. Meanwhile, Xtrade lacks this feature and the ability to create watchlists with real-time quotes. Reflecting these advantages, Saxo receives a 5-star rating for their mobile app, ranking second out of 63 brokers on ForexBrokers.com, while Xtrade garners a 4-star rating and ranks fifty-third in the same category.
| 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.
When comparing Saxo and Xtrade for market research, both platforms offer daily market commentary and provide forex news from respected sources like Bloomberg and Reuters. However, Saxo stands out with additional features such as tools from Autochartist, which are absent in Xtrade. Moreover, Saxo offers a sentiment-based trading tool to gauge the market's leanings, a feature Xtrade does not provide. Both brokers supply economic calendars that detail global news events, keeping traders informed about future movements in various economies.
Despite some similarities, Saxo outperforms Xtrade with a research rating of five stars, compared to Xtrade's 3.5 stars. Ranked number one by ForexBrokers.com out of 63 platforms for research, Saxo secures its position as a leader in market insight tools. In contrast, Xtrade ranks 52nd, highlighting a more modest selection of research features. This strategic edge in thorough market analysis and accessible research tools might make Saxo the preferable option for traders seeking comprehensive data to guide their investments.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for those new to trading, Saxo stands out as a more comprehensive option compared to Xtrade. Both platforms offer basic educational materials with a focus on forex and CFDs, meeting the minimum requirement of ten educational pieces. However, Saxo goes a step further by providing online client webinars at least once a month, while Xtrade lacks this interactive feature. In addition, Saxo offers a searchable archive of recorded webinars, making it easier for users to revisit key lessons at their convenience. For beginners seeking a multimedia learning approach, Saxo delivers a greater number of beginner educational videos dedicated to trading basics.
For more advanced learners, Saxo again surpasses Xtrade by offering at least ten advanced educational videos, whereas Xtrade falls short in this area. Both platforms offer an investor dictionary with over 50 investing terms, a useful tool for understanding market language. According to ForexBrokers.com, Saxo is ranked #13 out of 63 brokers in the education category with an excellent 5-star rating. In contrast, Xtrade has a rank of #46 and a 3.5-star rating. Overall, Saxo provides a more thorough educational experience, particularly for those at the beginning of their trading journey.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 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 |
|
|
| Trust Score | 99 | 74 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Saxo | Xtrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
| Broker Screenshots | Saxo | Xtrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| 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 | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | Yes | No | |
| 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 | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Xtrade | |
|---|---|---|---|
| Proprietary 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 | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 60 | 9 | |
| Charting - Indicators / Studies (Total) | 64 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| 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 | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill