Saxo Bank
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65% of retail CFD accounts lose money.

Vs.

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

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

Updated May 13 2022

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.

RoboForex is an international broker established in 2009 which also owns the brand RoboMarkets and specialises on CFD trading over several asset classes.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Intermediate and Professional traders looking for different account offerings
  • Experienced traders looking for trading platform variety
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
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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)
  • IFSC (International Financial Services Commission of Belize)
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 asset offering with more than 13,000+ instruments
  • Great platform variety (MT4, MT5, cTrader and their own proprietary platforms)
  • Custom account types with spreads from 0 pips
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Weak regulatory framework (counting on 1 license from the IFSC)
  • Doesn’t accept clients from the UK, EU and a few other countries
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.

📍 Year Founded
1992 2009
💳 Minimum Deposit
From 500 € to 2,000 € depending on residence $10
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • JCB
  • AstroPay
  • Skrill
  • Neteller
  • Perfect Money
  • AdvCash
  • NganLuong Wallet
  • Bank transfers (SEPA, local and several options per country)
💵 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 - USD, EUR, CNY, GOLD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US,BR,ES,IN,KE,MX,NG,PK,ZA

US, CA, JP, AU, BQ, CW, TL, RU, GQ, FM, MP, SJ, SS, UK, European Union.

📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 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 currencies, commodities, stocks, indices, ETFs and cryptocurrencies

📙 Stocks
30,000+ 12,000+
📘 Currency Pairs
182 40+
📗 Commodities
19 (CFDs) 100+
📕 Indices
29 (CFDs) 50+
📔 ETFs
5,400+ 1,000+
💸 Cryptocurrencies
9 16
📒 Bonds
5,000+ N/A
📓 Options
3,000+ N/A
📗 Futures
300+ N/A
📝 Notes:
N/A All of RoboForex’s assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 Minimum ETFs Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC)

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 Minimum FX Trade Size
$1,000 (0.01 lots)

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📈 Minimum Commodities Trade Size
N/A

Depends on each platform: from $1,000 (0.01 Lots) to $10,000 (0.1 Lots)

📉 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 1:2000
💪 Professional Leverage
Up to 1:66 N/A
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes No
🎓 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 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

No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

Yes for some methods (eg: Some bank withdrawals can cost up to 1.5% of the amount)

💰 Commissions

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

Yes depending on account type (eg: for ECN accounts there are commissions up to $20).

Spreads
📈 EUR/USD
0.8 Pips average - 0.4 for VIPs

Dynamic - From 0 Pips depending on account type, 1.4 Pips on Average

📉 SP500
N/A Dynamic - Market Spread
📈 GOLD
N/A Dynamic - From 17 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market Spread
📉 BTC
N/A Dynamic - From $220
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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