Saxo Bank
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65% of retail CFD accounts lose money.

Vs.

FP Markets
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70.70% of retail CFD accounts lose money

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

Updated Dec 14 2021

Visit

65% of retail CFD accounts lose money.

Visit

70.70% 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.

FPMarkets is a leading Australian broker with a 10,000+ asset offering accompanied by a great variety of tech options such as deploying your own VPS and accessing ENC / DMA pricing.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Professional traders looking for DMA pricing on their stocks
  • Professional traders looking to set up a dedicated VPS
  • High volume share traders that benefit from DMA pricing
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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
  • Customisable or removable leverage
  • Broad asset offering (10,000 +)
  • Competitive forex commissions
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • No ETFs are offered
  • Stock trading commissions are expensive when compared to similar brokers
  • Website is slow and confusing
  • Fees for the majority of deposit and withdrawal methods
Status
Operational Operational
Recent News
N/A N/A
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.

🏛 Financial Regulators
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
  • ASIC (Australia)
  • CySec (Cyprus)
  • FSA (St. Vincent and the Grenadines)
📍 Year Founded
1992 2005
💳 Minimum Deposit
From 500 € to 2,000 € depending on residence $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Neteller
  • 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 10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US,BR,ES,IN,KE,MX,NG,PK,ZA US, JP, BE, NZ, SY.
📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 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 stocks, currencies, commodities, cryptocurrencies and indices

📙 Stocks
30,000+ 10,000 +
📘 Currency Pairs
182 65
📗 Commodities
19 (CFDs) 13
📕 Indices
29 (CFDs) 14
📔 ETFs
5,400+ N/A
💸 Cryptocurrencies
9 4
📒 Bonds
5,000+ N/A
📓 Options
3,000+ N/A
📗 Futures
300+ N/A
📝 Notes:
N/A All FPMarkets assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A Varies by Stock
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) Varies by Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 - 0.01 Lots
📈 Minimum Commodities Trade Size
N/A Varies by Commodity (Eg: 0.01 Troy ounces of Gold)
📉 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 1:66 Up to 1:500
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes (through API) No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
No Yes
🔑 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

No
💰 Deposit Fees
No Yes depending on method (Eg: Not for credit cards)
💰 Withdrawal Fees
No Yes depending on method (Eg: Not for credit cards)
💰 Commissions

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

Standard account is free, Raw account is $3 per lot per trade. For stocks there are several account types with hybrid fees such as $10 minimum and additional 0.1%.
Spreads
📈 EUR/USD

0.8 pips on average, as low as 0.4 for VIP

Dynamic - From 0 to 1.2 Pips
📉 SP500
N/A Dynamic - From 40 to 60 Pips
📈 GOLD
N/A Dynamic - From 0 to 31 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A Dynamic - From $9 to $21
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No

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