Saxo Bank vs Zacks Trade compared

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

Saxo Bank
Zacks Trade

Last update of dataDec 2022

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.

Zacks Trade

Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash).

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees.

Saxo Bank's service is on par with Zacks Trade's and a comparison of their fees shows that Saxo Bank's fees are slightly higher than Zacks Trade's.

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

Our experts rated the trading platform of Saxo Bank as better than the platform of Zacks Trade, found that clients have access to more markets and products with Saxo Bank, while Zacks Trade provides somewhat lower-quality 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
4.8

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

Best forex broker

Overall Score
4.4

Recommended for Traders and investors looking for comprehensive research tools, a wide product selection and low fees

Country of origin

Denmark

Country of origin

USA

Fees

Fees score
3.0
Fees score
3.9
Fees summary

Average trading and non-trading fees, low forex fees

Fees summary

Low trading and non-trading fees, high fund 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
4.8
Deposit and withdrawal score
3.5
Number of base currencies

26

Number of base currencies

20

Deposit type

Withdrawal type

Account opening

Account opening score
3.8
Account opening score
2.5
Account opening fully online
Account opening fully online
Minimum deposit
*

$2000

*
Minimum deposit
*

$0

*
Time to open account

1 day

Time to open account

>3 days

Required documents

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

Required documents

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

Trading platform

Web platform score
5.0
Web platform score
3.8
Mobile platform score
5.0
Mobile platform score
3.5
Desktop platform score
5.0
Desktop platform score
3.8

Markets and products

Markets and products score
5.0
Markets and products score
3.8
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: 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
5.0
Research score
4.3
Charting quality

Great

Charting quality

Great

Education score
4.5
Education score
2.5
Demo account
Demo account

Customer service

Customer service score
4.5
Customer service score
4.1
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

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

Investor protection amount

$500,000 ($250,000 cash limit) plus $30 million (with a cash sub-limit of $900,000) subject to an aggregate limit of $150 million.

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

1992

Foundation date

1978

Country of regulation

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

Country of regulation

USA

Saxo Bank

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

Zacks Trade

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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