FXTM vs Saxo Bank compared

Online brokers compared for fees, trading platforms, safety and more. See how FXTM stacks up against Saxo Bank!

FXTM
Saxo Bank
80% of retail CFD accounts lose money

Last update of dataDec 2022

FXTM

FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. It is licensed by South Africa's FSCA.

Recommended for forex traders familiar with the MetaTrader platform.

Saxo Bank

Saxo Bank is a Danish investment bank. It is regulated by several top-tier financial authorities globally, including the UK regulator called FCA (Financial Conduct Authority).

Recommended for investors and traders looking for a great trading platform and solid research.

FXTM's service is slightly weaker than Saxo Bank's and a comparison of their fees shows that FXTM's fees are slightly lower than Saxo Bank's.

Account opening takes less effort at FXTM compared to Saxo Bank, deposit and withdrawal processes are somewhat more complicated at FXTM, while customer service quality is somewhat better than Saxo Bank's.

Our experts rated the trading platform of FXTM as less user-friendly than the platform of Saxo Bank, found that clients have access to less markets and products with FXTM, while Saxo Bank provides better research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.3

Recommended for Forex traders familiar with the MetaTrader platform

Overall Score
4.8

Recommended for Investors and traders looking for a great trading platform and solid research

Best forex broker

Country of origin

Cyprus

Country of origin

Denmark

Fees

Fees score
3.9
Fees score
3.0
Fees summary

Average trading fees, high non-trading fees, low forex fees

Fees summary

Average trading and non-trading fees, low forex fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
4.2
Deposit and withdrawal score
4.8
Number of base currencies

4

Number of base currencies

26

Deposit type

Withdrawal type

Account opening

Account opening score
5.0
Account opening score
3.8
Account opening fully online
Account opening fully online
Minimum deposit
*

$50

*
Minimum deposit
*

$2000

*
Time to open account

1 day

Time to open account

1 day

Required documents

Proof of identity: passport / national ID card / driver's license Proof of residency: bank statement / utility bill

Required documents

Proof of identity: personal ID / passport / driver's licence Proof of residence: ID card / insurance card / utility bill / bank statement

Trading platform

Web platform score
2.8
Web platform score
5.0
Mobile platform score
3.8
Mobile platform score
5.0
Desktop platform score
3.4
Desktop platform score
5.0

Markets and products

Markets and products score
2.7
Markets and products score
5.0
Stocks
*
*
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
*
*
Crypto
*
*
CFDs
CFDs
CFD disclaimer

Disclaimer: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

CFD disclaimer

Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Research, education

Research score
3.8
Research score
5.0
Charting quality

Mid-range

Charting quality

Great

Education score
5.0
Education score
4.5
Demo account
Demo account

Customer service

Customer service score
5.0
Customer service score
4.5
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

£85,000 in the UK, €20,000 in other EU countries, no protection for residents of all other countries

Investor protection amount

€100,000 for cash and €20,000 for securities for most European clients; £85,000 for UK clients; CHF 100,000 for Swiss clients; HKD 500,000 for securities at Hong Kong entity; no protection for clients from Singapore, Japan and Australia

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

2011

Foundation date

1992

Country of regulation

Cyprus (and license from South Africa), UK, Mauritius

Country of regulation

Denmark, UK, France, Italy, Switzerland, Singapore, Japan, Hong Kong, Australia

FXTM

For detailed information and hands-on experience, read our review of this broker.

Saxo Bank

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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