FXCM
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74-89% of retail CFD accounts lose money.

Vs.

Saxo Bank
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65% of retail CFD accounts lose money.

FXCM Vs. Saxo Bank - Compare and Choose the Right One

Updated May 13 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

65% of retail CFD accounts lose money.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

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
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • 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
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads 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
N/A N/A
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
1999 (FXCM Group) 1992
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) From 500 € to 2,000 € depending on residence
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
4 - EUR GBP, USD, 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
No No
❌ Restricted Countries
RU, US, CA, JP, SK and more. US,BR,ES,IN,KE,MX,NG,PK,ZA
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

  • Real stocks, ETFs, bonds and options.
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds.
📙 Stocks
200+ 30,000+
📘 Currency Pairs
39 182
📗 Commodities
11 19 (CFDs)
📕 Indices
15 29 (CFDs)
📔 ETFs
N/A 5,400+
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

9
📒 Bonds
N/A 5,000+
📓 Options
N/A 3,000+
📗 Futures
N/A 300+
📝 Notes:
All of FXCM's assets are CFDs. N/A
Trading Experience
📈 Minimum Stock Trade Size
1 share N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
$1000 (0.01 Lots) $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) N/A
📉 Minimum Bonds Trade Size
N/A 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 (Varies) Up to 1:66
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes (through API)
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly 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

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

No
💰 Commissions
No

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

Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) 0.8 Pips average - 0.4 for VIPs
📉 SP500
Dynamic - From 58 Pips (As per our research) N/A
📈 GOLD
Dynamic - From 41 Pips (As per our research) N/A
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $51 (As per our research) N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No No

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