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 Jul 12 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
$100 From 500 € to 2,000 € depending on residence
💰 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
Assets
📚 Available Assets

CFDs on currencies, commodities, indices, bonds, shares and cryptocurrencies.

  • Real stocks, ETFs, bonds and options.
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds.
📙 Stocks
4,500+ 30,000+
📘 Currency Pairs
93 182
📗 Commodities
35 19 (CFDs)
📕 Indices
24 29 (CFDs)
📔 ETFs
700+ 5,400+
💸 Cryptocurrencies
5 9
📒 Bonds
14 5,000+
📓 Options
N/A 3,000+
📗 Futures
N/A 300+
📝 Notes:

All of Forex.com’s assets are CFDs.

N/A
Trading Experience
📈 Minimum Stock Trade Size
Varies per share (eg: 0.3 AMZN shares) N/A
📉 Minimum ETFs Trade Size
Varies per ETF (eg: 5 contracts of XLK) N/A
📈 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) N/A
📉 Minimum Bonds Trade Size
Varies per Bond (eg: 1 contract of Euro Bobl) N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:66
✍ 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
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes (through API)
💻 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

Yes, $15 monthly after 1 year of inactivity.

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

💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

Yes 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 0.8 Pips average - 0.4 for VIPs
📉 SP500
From 60 Pips N/A
📈 GOLD
From 50 Pips N/A
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market Spread N/A
📉 BTC
From $120 N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
Yes No

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