XM
Visit

74.89% of retail CFD accounts lose money.

Vs.

Saxo Bank
Visit

69% of retail CFD accounts lose money.

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

Updated Oct 20 2022

Visit

74.89% of retail CFD accounts lose money.

Visit

69% of retail CFD accounts lose money.

Overview

XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.

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.

Best For
  • Experienced traders looking to trade shares in high volume using their Zero account
  • MetaTrader users wishing to explore XM's offering while maintaining their preferred platforms
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • ADGM (United Arab Emirates)
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
The Good
  • Competitive commissions on their Zero account
  • Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
The Bad
  • No proprietary platforms or technology
  • Expensive spreads and trading fees
  • Lack of asset variety when compared to other brokers in the same range
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
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
1 day 4 days
📋 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
2009 1992
💳 Minimum Deposit Range
$5 From $500 up to $2,000
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Visa
  • Mastercard
  • Bank Transfer
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR. 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.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA.

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

📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
1,382 49,339
Exchange Access
0 0
📙 Real Stocks
0 30,000
📙 Stock CFDs
1,286 0
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
57 182
📗 Commodities
0 0
📗 Commodities CFDs
15 19
📕 Indices
0 0
📕 Indices CFDs
14 29
📔 ETFs
0 5,400
📔 ETFs CFDs
0 5,400
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
0 9
📒 Bonds
0 5,000
📒 Bonds CFDs
0 0
📓 Options
0 3,000
📓 Options CFDs
0 0
📗 Futures
0 300
📗 Futures CFDs
10 0
Trading Experience
📈 Minimum Stock Trade Size
Variable - Fractions allowed Unavailable
📉 Minimum ETFs Trade Size
Unavailable Unavailable
📈 Minimum Crypto Trade Size
Unavailable Varies by Cryptocurrency (eg: 0.01 units of BTC)
📉 Minimum FX Trade Size
$100 (0.001 Lots) $1,000 (0.01 lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 0.01 Troy ounce of Gold) Unavailable
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Varies by Commodity (Eg: 0.01 Troy ounce of Gold) Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 66
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
No 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

Yes, $15 one time payment after 1 year of inactivity and then $5 monthly.

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

Yes on Zero accounts ($7 per lot round turn).

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

Spreads
📈 EUR/USD
Dynamic - From 1.7 Pips Dynamic - From 0.4 to 0.8 Pips
📉 SP500
Dynamic - From 40 Pips Unavailable
📈 GOLD
Dynamic - From 35 Pips Unavailable
📉 TSLA (Stock CFD)
Dynamic - From $9.4 Unavailable
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Unavailable Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
Yes No
📡 Live Chat Support
No Yes
📡 Video Tutorials
No No
📡 Account Management
Yes Yes
📡 Webinars
Yes No