FXCM
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77% of retail CFD accounts lose money.

Vs.

Saxo Bank
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69% of retail CFD accounts lose money.

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

Updated Sep 14 2022

Visit

77% of retail CFD accounts lose money.

Visit

69% 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.

TheTradingBible.com is acting in a capacity of a marketing affiliate of FXCM EU LTD.

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

Learn More

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

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
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
41 182
📗 Commodities
11 19 (CFDs)
📕 Indices
16 29 (CFDs)
📔 ETFs
N/A 5,400+
💸 Cryptocurrencies
17 (Not for UK Clients) 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