Saxo Bank
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69% of retail CFD accounts lose money.

Vs.

BlackBull Markets
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74-89% of retail CFD accounts lose money.

Saxo Bank Vs. BlackBull Markets - Compare and Choose the Right One

Updated Jul 12 2022

Visit

69% of retail CFD accounts lose money.

Visit

74-89% of retail CFD accounts lose money.

Overview

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.

BlackBull Markets is a global broker headquartered in New Zealand founded in 2014 that specialises in providing CFDs based on shares, commodities, currencies and indices.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Experienced currency traders looking for their ECN PRIME account offer with spreads from 0.1 Pips
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
  • FMA (New Zealand)
  • FSAS (Seychelles)
The Good
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
  • Competitive spreads in their ECN Prime account (From 0.1 Pips)
  • Wide variety of platforms (MT4, MT5, TradingView and IBKR)
  • Over 23,000 + shares
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Their standard asset offering is very low (over 300 instruments)
  • Share trading requires a separate platform with a different onboarding
  • Commissions are above average and share trading fees are a mystery
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
4 Days 1 Day
📋 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
1992 2014
💳 Minimum Deposit
From 500 € to 2,000 € depending on residence From $50 to $2,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • FasaPay
  • China UnionPay
  • Skrill
💵 Account Base Currencies
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 9 - EUR, USD, GBP, NZD, AUD, SGD, ZAR, JPY, CAD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US,BR,ES,IN,KE,MX,NG,PK,ZA US, CA, SY, IR.
📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 ECN Account
Yes Yes
Assets
📚 Available Assets
  • Real stocks, ETFs, bonds and options.
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds.
  • CFDs on shares, currencies, indices, commodities and cryptocurrencies.
📙 Stocks
30,000+ 23,000+
📘 Currency Pairs
182 64
📗 Commodities
19 (CFDs) 15
📕 Indices
29 (CFDs) 13
📔 ETFs
5,400+ N/A
💸 Cryptocurrencies
9 N/A
📒 Bonds
5,000+ N/A
📓 Options
3,000+ N/A
📗 Futures
300+ N/A
📝 Notes:
N/A All of BlackBull Markets assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) N/A
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A 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 1:500
💪 Professional Leverage
Up to 1:66 N/A
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes (only for share trading)
📱 Android App
Yes Yes (only for share trading)
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes (MT4 & 5)
💻 TradingView Platform
Yes (through API) Yes
💻 Proprietary Platform
Yes Yes (only for share trading)
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

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

No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

Yes, $5 for card withdrawals and $20 for international bank transfer withdrawals.

💰 Commissions

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

  • ECN Standard has no fees.
  • ECN PRIME has a $6 commission per lot round turn

In the case of share trading, their fees start from NZD $12 per transaction yet they’re not clearly explained anywhere on their website.

Spreads
📈 EUR/USD
0.8 Pips average - 0.4 for VIPs From 0.4 Pips to 1.61 Pips
📉 SP500
N/A From 5.5 Pips
📈 GOLD
N/A From 16 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market spread
📉 BTC
N/A N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No