Saxo Bank
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69% of retail CFD accounts lose money.

Vs.

iFOREX Europe
Visit

89.13% of retail CFD accounts lose money.

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

Updated Oct 20 2022

Visit

69% of retail CFD accounts lose money.

Visit

89.13% 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.

iFOREX Europe (formerly Vestle) is the Europe brand part of the global iForex Group that specialises in CFD trading and offers over 600 instruments over currencies, commodities, indices, shares, ETFs and cryptocurrencies.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Beginner traders with little to no experience looking to test a simple platform
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

0

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)
  • CySec (Cyprus)
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
  • Extremely simple platform designed for beginners with little needs
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • High spreads on all of their instruments
  • Web and mobile platforms are slow and lack tools
  • Their FAQ database doesn’t effectively answer the most common questions any trader could have
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 2018
💳 Minimum Deposit Range
From $500 up to $2,000 $200
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Bank Transfer
  • Credit Card
  • Debit Card
💵 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. 1 - EUR
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

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

US, CA, SY, IR, JP.

📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
Hybrid CFDs
Total Asset Offering
49,339 584
Exchange Access
0 0
📙 Real Stocks
30,000 0
📙 Stock CFDs
0 400
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
182 50
📗 Commodities
0 0
📗 Commodities CFDs
19 19
📕 Indices
0 0
📕 Indices CFDs
29 32
📔 ETFs
5,400 0
📔 ETFs CFDs
5,400 42
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
9 41
📒 Bonds
5,000 0
📒 Bonds CFDs
0 0
📓 Options
3,000 0
📓 Options CFDs
0 0
📗 Futures
300 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable $2,500 in trade value
📉 Minimum ETFs Trade Size
Unavailable $2,500 in trade value
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) $2,500 in trade value
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $2,500 in trade value
📈 Minimum Commodities Trade Size
Unavailable $2,500 in trade value
📉 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 No
📺 MetaTrader 5
No No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes No
👬 Copy Trading
Yes No
👫 Social Trading
No No
🔑 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.

iFOREX Europe charges an inactivity fee of $15 for every quarter of inactivity.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None

No for credit cards but yes for bank wires (up to $20).

💰 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 0.7 Pips
📉 SP500
Unavailable Dynamic - From 90 Pips
📈 GOLD
Unavailable Dynamic - From 35 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $3
📈 XLK (ETF - CFD)
Unavailable Dynamic - From 30 Pips
📉 BTC
Unavailable Dynamic - From $120
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
Yes No
📡 Video Tutorials
No No
📡 Account Management
Yes Yes
📡 Webinars
No Yes