Compare Saxo Bank vs XM


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

Saxo Bank vs XM
overall rating
4.8
4.4
overall pros
  • Great trading platform
  • Outstanding research
  • Broad product portfolio
  • Low CFD and withdrawal fees
  • Easy and fast account opening
  • Great educational tools
overall cons
  • High bond, options and futures fees
  • High minimum deposit
  • Lacks live chat and 24/7 availability
  • Only CFDs, forex, cryptos for Europeans
  • Average forex fees
  • Inactivity fee
fees
2.9
  • Low fund fees
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
  • Inactivity fee
  • High bond, options and futures fees
3.8
  • Low CFD fees
  • No withdrawal fee
  • Inactivity fee
  • Average FX fees
account opening
2.6
  • Fully digital
  • User-friendly
  • Available in almost every country
  • Minimum deposit is high in certain countries
  • Relatively slow account verification
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
deposit and withdrawal
4.8
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets are not available for deposit or withdrawal
5.0
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Free wire withdrawal above $200
web trading platform
5.0
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
  • Outdated design
mobile trading platform
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No Touch/Face ID login
  • No order confirmation
desktop trading platform
5.0
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • Outdated design
  • Search function could be improved
markets and products
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • SaxoSelect
2.9
  • Stock
  • Forex
  • CFD
  • Crypto
research
5.0
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Most fundamental data is not free of charge
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
customer service
4.0
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
3.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 phone support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No educational articles
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • 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
  • Negative balance protection
  • Regulated by the top-tier ASIC
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
recommended for Investors and traders looking for a great trading platform and solid research Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees
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