Saxo Bank
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65% of retail CFD accounts lose money.

Vs.

FXCM
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74-89% of retail CFD accounts lose money.

Saxo Bank Vs. FXCM - Compare and Choose the Right One

Updated Dec 14 2021

Visit

65% 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.

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

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 
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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
  • 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 300+ financial instruments)
  • Costly spreads when compared to similar competitors
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)
  • FCA (United Kingdom)
  • FSCA (South Africa)
📍 Year Founded
1992 1999 (FXCM Group)
💳 Minimum Deposit
From 500 € to 2,000 € depending on residence €, £, $ - 50 (Varies by payment method)
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

💵 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 and more.
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
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+ 200+
📘 Currency Pairs
182 39
📗 Commodities
19 (CFDs) 11
📕 Indices
29 (CFDs) 15
📔 ETFs
5,400+ N/A
💸 Cryptocurrencies
9

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

📒 Bonds
5,000+ N/A
📓 Options
3,000+ N/A
📗 Futures
300+ N/A
📝 Notes:
N/A All of FXCM's assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A 1 share
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) 1 unit of any cryptocurrency
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A Varies by Commodity (Eg: 1 Troy ounce 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 (Varies)
✍ 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
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes (through API) 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
No No
💰 Withdrawal Fees
No

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

💰 Commissions

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

No
Spreads
📈 EUR/USD

0.8 pips on average, as low as 0.4 for VIP

From 1.2 Pips (As per our research)
📉 SP500
N/A Dynamic - From 58 Pips (As per our research)
📈 GOLD
N/A Dynamic - From 41 Pips (As per our research)
📉 TSLA (Stock CFD)
N/A Dynamic - From $1.04 (As per our research)
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A Dynamic - From $51 (As per our research)
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No No

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