Compare Questrade vs Saxo Bank


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

Questrade vs Saxo Bank
overall rating
4.6
4.8
overall pros
  • Low stock and ETF fees
  • Solid research tools
  • Superb customer service
  • Great trading platform
  • Outstanding research
  • Broad product portfolio
overall cons
  • Slow account opening for non-Canadians
  • High withdrawal fee for non-Canadians
  • Limited account base currencies
  • High bond, options and futures fees
  • High minimum deposit
  • Lacks live chat and 24/7 availability
fees
3.7
  • Low non-trading fees
  • Low stock and ETF fees
  • Low fund fees
  • High options fees
  • High CFD fees
  • High margin rates
3.0
  • Low forex fees
  • Low fund fees
  • No withdrawal fee
  • Inactivity fee
  • High bond, options and futures fees
account opening
3.8
  • Fast
  • Fully digital
  • User-friendly
  • Minimum deposit is higher than $500
  • Complicated for non-Canadians
2.5
  • Fully digital
  • User-friendly
  • Available in almost every country
  • Minimum deposit is high in certain countries
  • Slow account verification
deposit and withdrawal
2.7
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawals
4.8
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets not available for deposit or withdrawal
web trading platform
3.8
  • User-friendly
  • Good variety of order types
  • Price alerts
  • No clear fee report available
  • Limited customizability (for charts, workspace)
5.0
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
mobile trading platform
4.8
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
desktop trading platform
4.3
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No clear fee report available
5.0
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
markets and products
4.2
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • CFD
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • SaxoSelect
research
4.8
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Live data only available for paid subscription
5.0
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Most fundamental data is not free of charge
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
4.0
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Educational section is hard to navigate
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No educational articles
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • CAD 10 million per account additional insurance
  • No negative balance protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Negative balance protection for EU (+some MENA) customers
  • Not listed on stock exchange
recommended for Traders and investors focusing on the Canadian and US markets Investors and traders looking for a great trading platform and solid research
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