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


Visit 69% of retail CFD accounts lose money.	Visit 77% 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.	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.
Best For
Professional investors looking to trade a variety of markets High net worth traders or investors	Professional algorithmic traders looking to benefit from their comprehensive API offering.
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 2 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)	ASIC (Australia) CySec (Cyprus) FCA (United Kingdom) FSCA (South Africa)
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	Comprehensive API offering with a variety of conditions and programming languages at no additional cost Proprietary platform (Trading Station)
The Bad
High minimum deposit for certain countries Withdrawals via bank transfer only High fees on options and futures	Lack of asset variety in their offering (over 463+ financial instruments) Costly spreads 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	1999
💳 Minimum Deposit Range
From $500 up to $2,000	$50
💰 Payment Methods
Visa Mastercard Bank Transfer	Visa Mastercard Bank Transfer 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.	4 - EUR GBP, USD, CHF.
🗽 Available to U.S Citizens
No	No
❌ Restricted Countries
US, BR, ES, IN, KE, MX, NG, PK, ZA.	RU, US, CA, JP, SK, BE and more.
📊 STP Account
Yes	No
📊 DMA Account
Yes	No
📊 ECN Account
Yes	No
Banking License
No	No
Debit Card
No	No
Assets
📚 Assets Type
Hybrid	CFDs
Total Asset Offering
49,339	447
Exchange Access
0	0
📙 Real Stocks
30,000	0
📙 Stock CFDs
0	341
📘 Currency Pairs
0	0
📘 Currency Pair CFDs
182	41
📗 Commodities
0	0
📗 Commodities CFDs
19	14
📕 Indices
0	0
📕 Indices CFDs
29	19
📔 ETFs
5,400	0
📔 ETFs CFDs
5,400	0
💸 Cryptocurrencies
0	0
💸 Cryptocurrency CFDs
9	22
📒 Bonds
5,000	0
📒 Bonds CFDs
0	10
📓 Options
3,000	0
📓 Options CFDs
0	0
📗 Futures
300	0
📗 Futures CFDs
0	0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable	1 Share
📉 Minimum ETFs Trade Size
Unavailable	Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC)	1 Unit
📉 Minimum FX Trade Size
$1,000 (0.01 lots)	$1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Unavailable	Varies by Commodity (Eg: 1 Troy ounce 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	400
✍ Customisable Leverage
No	No
🎲 Deleveraged Trading
Yes	No
🎓 Demo Account
Yes	Yes
📱 IOS App
Yes	Yes
📱 Android App
Yes	Yes
📺 MetaTrader 4
No	Yes
📺 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
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.	50 units of the account's base currency yearly after 1 year of inactivity.
💰 Deposit Fees
None	Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).
💰 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.	None
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips	Dynamic - From 1.2 Pips
📉 SP500
Unavailable	Dynamic - From 58 Pips
📈 GOLD
Unavailable	Dynamic - From 41 Pips
📉 TSLA (Stock CFD)
Unavailable	Dynamic - From $1.04
📈 XLK (ETF - CFD)
Unavailable	Unavailable
📉 BTC
Unavailable	Dynamic - From $51
Research and Analysis
⭐ Watchlists
Yes	Yes
🔭 Stock Screener
Yes	No
🗓 Economic Calendar
Yes	Yes
📜 Integrated Newsfeed
Yes	Yes
📡 Reuters Feed
No	No
📡 Educational Content
No	Yes
📡 Live Chat Support
Yes	Yes
📡 Video Tutorials
No	No
📡 Account Management
Yes	No
📡 Webinars
No	No