Saxo Bank
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69% of retail CFD accounts lose money.

Vs.

Forex.com
Visit

67.6% of retail CFD accounts lose money.

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

Updated Oct 20 2022

Visit

69% of retail CFD accounts lose money.

Visit

67.6% 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.

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.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • 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
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

4

Other Licenses

2

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)
  • FINRA (United States)
  • FCA (UK)
  • FFAJ (Japan)
  • IIROC (Canada)
  • CySec (Cyprus)
  • CIMA (Cayman Islands)
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
  • Great platform offering (Proprietary, TradingView, MetaTrader 4 & 5)
  • Excellent asset offering (more than 5,000+ instruments)
  • Competitive spreads in some of their assets
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Despite presenting a great customisable platform, it still feels messy and not intuitive to use
  • Commissions are expensive when compared to similar competitors 
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 2001
💳 Minimum Deposit Range
From $500 up to $2,000 $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Bank Transfer
💵 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. 6 - GBP, USD, EUR, AUD, JPY, CHF.
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries

US, BR, ES, IN, KE, MX, NG, PK, ZA.

None
📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
Hybrid CFDs
Total Asset Offering
49,339 5,371
Exchange Access
0 0
📙 Real Stocks
30,000 0
📙 Stock CFDs
0 4,500
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
182 93
📗 Commodities
0 0
📗 Commodities CFDs
19 35
📕 Indices
0 0
📕 Indices CFDs
29 24
📔 ETFs
5,400 0
📔 ETFs CFDs
5,400 700
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
9 5
📒 Bonds
5,000 0
📒 Bonds CFDs
0 14
📓 Options
3,000 0
📓 Options CFDs
0 0
📗 Futures
300 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable Varies per share (eg: 0.3 AMZN shares)
📉 Minimum ETFs Trade Size
Unavailable Varies per ETF (eg: 5 contracts of XLK)
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) Varies per Cryptocurrency (eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Unavailable Varies per commodity (eg: 1 contract of Gold)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
66 500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

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

$15 monthly after 1 year of inactivity.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

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

Depending on account type.

  • Standard account has no commissions
  • “Commission Account” and “DMA Account” have a flat $5 fee commission per lot round turn
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips Dynamic - From 0.8 Pips
📉 SP500
Unavailable Dynamic - From 60 Pips
📈 GOLD
Unavailable Dynamic - From 50 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - Market Spread
📈 XLK (ETF - CFD)
Unavailable Dynamic - Market Spread
📉 BTC
Unavailable Dynamic - From $120
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No Yes
📡 Educational Content
No Yes
📡 Live Chat Support
Yes Yes
📡 Video Tutorials
No Yes
📡 Account Management
Yes No
📡 Webinars
No No