Saxo Bank
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69% of retail CFD accounts lose money.

Vs.

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

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

Updated Oct 20 2022

Visit

69% 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.

TMGM is an Australian broker specialised in financial derivatives known as contract-for-differences (CFDs). Operating since 2013, TMGM provides trading in forex, stocks, indices, cryptocurrencies and commodities.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
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

1

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)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
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
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
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 2013
💳 Minimum Deposit Range
From $500 up to $2,000 $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
💵 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. 6 - EUR, USD, GBP, AUD, NZD, CAD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

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

US.

📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
Hybrid CFDs
Total Asset Offering
49,339 12,091
Exchange Access
0 0
📙 Real Stocks
30,000 0
📙 Stock CFDs
0 12,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
182 55
📗 Commodities
0 0
📗 Commodities CFDs
19 6
📕 Indices
0 0
📕 Indices CFDs
29 15
📔 ETFs
5,400 0
📔 ETFs CFDs
5,400 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
9 15
📒 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 1 Share
📉 Minimum ETFs Trade Size
Unavailable Unavailable
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Unavailable Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 500
💪 Professional Leverage
66 Unavailable
✍ 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
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 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.

$30 fee if there is no activity for 6 months or if the account balance falls below $500.

💰 Deposit Fees
None None
💰 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.

Yes, from $3.5 per lot round turn

Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips Dynamic - From 0 pips
📉 SP500
Unavailable Dynamic - From 30 Pips
📈 GOLD
Unavailable Dynamic - From 11 pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $0.48
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Unavailable Dynamic - From $32
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No No
📡 Educational Content
No No
📡 Live Chat Support
Yes No
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
No No