FXCM Vs. Saxo Bank - Compare Trustworthiness, Capabilities, Fees and Legitimacy


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. **The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information. TheTradingBible.com is acting in a capacity of marketing affiliate for 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 463+ 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	1992
💳 Minimum Deposit Range
$50	From $500 up to $2,000
💰 Payment Methods
Visa Mastercard Bank Transfer Neteller Skrill	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, BE and more.	US, BR, ES, IN, KE, MX, NG, PK, ZA.
📊 STP Account
No	Yes
📊 DMA Account
No	Yes
📊 ECN Account
No	Yes
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
CFDs	Hybrid
Total Asset Offering
447	49,339
Exchange Access
0	0
📙 Real Stocks
0	30,000
📙 Stock CFDs
341	0
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
41	182
📗 Commodities
0	0
📗 Commodities CFDs
14	19
📕 Indices
0	0
📕 Indices CFDs
19	29
📔 ETFs
0	5,400
📔 ETFs CFDs
0	5,400
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
22	9
📒 Bonds
0	5,000
📒 Bonds CFDs
10	0
📓 Options
0	3,000
📓 Options CFDs
0	0
📗 Futures
0	300
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
1 Share	Unavailable
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
1 Unit	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 by Commodity (Eg: 1 Troy ounce 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
400	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
📺 cTrader
No	No
💻 Web trader
Yes	Yes
💻 TradingView Platform
Yes	Yes
💻 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
Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).	None
💰 Withdrawal Fees
None	None
💰 Commissions
None	$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 1.2 Pips	Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Dynamic - From 58 Pips	Unavailable
📈 GOLD
Dynamic - From 41 Pips	Unavailable
📉 TSLA (Stock CFD)
Dynamic - From $1.04	Unavailable
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Dynamic - From $51	Unavailable
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
No	Yes
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	Yes
📡 Reuters Feed
No	No
📡 Educational Content
Yes	No
📡 Live Chat Support
Yes	Yes
📡 Video Tutorials
No	No
📡 Account Management
No	Yes
📡 Webinars
No	No