Forex.com
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67.6% of retail CFD accounts lose money.

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Saxo Bank
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69% of retail CFD accounts lose money.

Forex.com Vs. Saxo Bank - Compare and Choose the Right One

Updated Oct 20 2022

Visit

67.6% of retail CFD accounts lose money.

Visit

69% of retail CFD accounts lose money.

Overview

Forex.com is a global broker headquartered in the U.S and part of StoneX (publicly traded company on NASDAQ) that specialises in offering CFDs based on commodities, currencies, indices, stocks, ETFs, shares, bonds and cryptocurrencies.

Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.

Best For
  • Traders of all levels (beginner to advanced) looking for competitive pricing
  • Trades of all levels looking for a great platform variety
  • High volume traders looking for ECN or DMA accounts offering deep liquidity for large trades
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
The Good
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
The Bad
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 4 days
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2001 1992
💳 Minimum Deposit Range
$100 From $500 up to $2,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
6 - GBP, USD, EUR, AUD, JPY, CHF. 26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
None

US, BR, ES, IN, KE, MX, NG, PK, ZA.

📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
5,371 49,339
Exchange Access
0 0
📙 Real Stocks
0 30,000
📙 Stock CFDs
4,500 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
93 182
📗 Commodities
0 0
📗 Commodities CFDs
35 19
📕 Indices
0 0
📕 Indices CFDs
24 29
📔 ETFs
0 5,400
📔 ETFs CFDs
700 5,400
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
5 9
📒 Bonds
0 5,000
📒 Bonds CFDs
14 0
📓 Options
0 3,000
📓 Options CFDs
0 0
📗 Futures
0 300
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Varies per share (eg: 0.3 AMZN shares) Unavailable
📉 Minimum ETFs Trade Size
Varies per ETF (eg: 5 contracts of XLK) Unavailable
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (eg: 0.01 BTC) Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 contract of Gold) Unavailable
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 66
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

$15 monthly after 1 year of inactivity.

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

Depending on account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract.

Spreads
📈 EUR/USD
Dynamic - From 0.8 Pips Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Dynamic - From 60 Pips Unavailable
📈 GOLD
Dynamic - From 50 Pips Unavailable
📉 TSLA (Stock CFD)
Dynamic - Market Spread Unavailable
📈 XLK (ETF - CFD)
Dynamic - Market Spread Unavailable
📉 BTC
Dynamic - From $120 Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
Yes No
📡 Educational Content
Yes No
📡 Live Chat Support
Yes Yes
📡 Video Tutorials
Yes No
📡 Account Management
No Yes
📡 Webinars
No No