Saxo Bank vs. FXCM
Comparison: Saxo Bank vs. FXCM – Which broker is better? A quick comparison of platform, fees, deposits, withdrawals and regulation.
Winner of this comparison: FXCM with an overall rating of 52%
Basic information
| Basic information |  Saxo Bank |  FXCM |
|---|---|---|
| Deposit | 2000 EUR/USD | 50 EUR/USD |
| Spreads | 2 EUR/USD | 1 EUR/USD |
| Established | 1992 | 1999 |
| Currency Pairs (Total Forex pairs) | 182 | 20 |
| Country | Denmark, UK | Germany |
| Regulation | FCA (UK), ASIC (Australia), Cysec | FCA (UK), Authorised in the European Union (EU), ASIC (Australia), Cysec |
| Trading app | Web Platform | Desktop Platform (Windows), Web Platform, Social Trading / Copy-Trading |
| Number of CFD asset classes | 5 | 7 |
| Broker type | ECN, STP | MM |
| Support | Phone, Mail, Chat | Phone, Mail |
| Funding methods | * Some of the payment methods may not be available in your country. Visa/Mastercard, Bank Wire | * Some of the payment methods may not be available in your country. Skrill, GiroPay, Qiwi, FasaPay, UnionPay, BitPay, Klarna, PaySafeCard, PayPal, Advcash, Cryptocurrencies, Poli, WebMoney |
| Real Stocks and ETFs | Yes | Yes |
*The value is indicative from the broker's website. The spread amount is variable.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 61 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 61 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Comparison Result
If you don’t want to read the full comparison, the winner of our review is FXCM, which takes the lead with a rating of 52%, while Saxo Bank only reaches 45%. Saxo Bank requires a minimum deposit of 2000 EUR/USD, while FXCM sets it at 50 EUR/USD. Conversely, FXCM scores with a lower minimum deposit. For Saxo Bank, the spread is 2 EUR/USD, while for FXCM it is 1 EUR/USD. Lower spreads at FXCM give it the edge. Saxo Bank offers 182 forex pairs, while FXCM provides 20. A wider selection gives Saxo Bank the advantage. Saxo Bank was founded in 1992, while FXCM has been operating since 1999. The longer tradition of Saxo Bank means greater experience. Both brokers allow trading with real stocks. Saxo Bank is overseen by 3 regulatory bodies, while FXCM has 4. Stricter oversight at FXCM gives it an advantage. Saxo Bank supports 1 platforms, while FXCM offers 3. More options are provided by FXCM.
45%
Saxo Bank
52%
FXCM
Key Strengths
Saxo Bank
- Fully licensed European company with strong backing
- More suitable for professional traders
- Proprietary trading platforms
- Competitive trading spreads
- Really large number of trading instruments
FXCM
- The broker is regulated in four Tier-1 jurisdictions and two Tier-2 jurisdictions.
- FXCM has received awards for the best tools and platforms, professional trading, algorithmic trading, and copy trading.
- FXCM publishes monthly execution reports, including statistics on slippage and order execution quality.
Comparison by Categories
Comprehensive Comparison: Saxo Bank vs FXCM
Saxo Bank FXCM Investments
62 % 88 %| Investments | Saxo Bank | FXCM |
|---|---|---|
| Currency Pairs (Total Forex pairs) | 182 | 20 |
| CFDs – Total Offered | 201+ | 200+ |
| Options CFD | No | Yes |
| Share CFDs | Yes | No |
| Forex CFD | Yes | Yes |
| Commodities CFD | Yes | Yes |
| ETF CFD | Yes | Yes |
| Indicies CFD | Yes | Yes |
| Cryptocurrency traded as actual | No | Yes |
| Cryptocurrency traded as CFD | No | Yes |
Cost
80 % 20 %| Cost | Saxo Bank | FXCM |
|---|---|---|
| Average Spread EUR/USD *The value is indicative from the broker's website. The spread amount is variable. | 2 | 1 |
| Deposit from | 2000 | 50 |
| Account fee | No | No |
| Inactivity fee | Yes | Yes |
| Active Trader or VIP Discounts | No | Yes |
| Withdrawal fees | No | Yes |
| Deposit fees | No | Yes |
Trading app
14 % 43 %| Trading app | Saxo Bank | FXCM |
|---|---|---|
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy-Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Currenex | No | No |
| cTrader | No | No |
Trading Tools
100 % 60 %| Trading Tools | Saxo Bank | FXCM |
|---|---|---|
| Financial leverage | Yes | No |
| Virtual Trading (Demo) | Yes | Yes |
| Alerts – Basic Fields | Yes | Yes |
| Charting – Indicators / Studies (Total) | Yes | No |
| Charting – Drawing Tools (Total) | Yes | Yes |
| Charting – Trade From Chart | Yes | No |
| Stop-Loss | Yes | Yes |
| Finacial Calendar | Yes | Yes |
| Daily financial news | Yes | Yes |
| Order Type – Trailing Stop | Yes | No |
Research
83 % 50 %| Research | Saxo Bank | FXCM |
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Social Sentiment – Currency Pairs | No | Yes |
| Economic Calendar | Yes | No |
| Research | Yes | No |
Education
67 % 67 %| Education | Saxo Bank | FXCM |
|---|---|---|
| Has Education – Forex | Yes | No |
| Has Education – CFDs | Yes | Yes |
| Client Webinars | Yes | Yes |
| Videos – Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | No | No |
| Education | No | Yes |
Forex
100 % 100 %| Forex | Saxo Bank | FXCM |
|---|---|---|
| GBP/USD | Yes | Yes |
| USD/JPY | Yes | Yes |
| EUR/USD | Yes | Yes |
| USD/CHF | Yes | Yes |
| USD/CAD | Yes | Yes |
| NZD/USD | Yes | Yes |
| AUD/USD | Yes | Yes |
Commodities
36 % 36 %| Commodities | Saxo Bank | FXCM |
|---|---|---|
| Gold | Yes | No |
| Silver | Yes | Yes |
| WIT Oil | Yes | No |
| Brent Oil | Yes | Yes |
| Coffee | No | No |
| Cocoa | No | Yes |
| Soybeans | No | Yes |
| Rice | No | No |
| Corn | No | No |
| Platinum | No | No |
| Palladium | No | No |
Indicies
100 % 80 %| Indicies | Saxo Bank | FXCM |
|---|---|---|
| DAX 40 | Yes | No |
| S&P 500 | Yes | Yes |
| Nasdaq | Yes | Yes |
| Dow Jones | Yes | Yes |
| Nikkei | Yes | Yes |
Cryptocurrencies
0 % 40 %| Cryptocurrencies | Saxo Bank | FXCM |
|---|---|---|
| Bitcoin | No | No |
| Litecoin | No | No |
| Ethereum | No | Yes |
| Ripple | No | No |
| Neo | No | No |
| Stellar | No | Yes |
| Cardano | No | Yes |
| Tron | No | No |
| Monero | No | Yes |
| EOS | No | No |
Regulations
50 % 67 %| Regulations | Saxo Bank | FXCM |
|---|---|---|
| Cysec | Yes | Yes |
| ASIC (Australia) | Yes | Yes |
| FCA (UK) | Yes | Yes |
| Authorised in the European Union (EU) | No | Yes |
| CFTC Registered (USA) | No | No |
| FINMA (Switzerland) | No | No |
Support
100 % 67 %| Support | Saxo Bank | FXCM |
|---|---|---|
| Chat | Yes | No |
| Phone | Yes | Yes |
| Yes | Yes |
Overall
45 % 52 %| Overall | Saxo Bank | FXCM |
|---|
Our Recommendations
Best for FXCM
Thanks to comprehensive educational materials and a user-friendly platform, FXCM is an ideal choice for new traders.
Best Platform FXCM
The trading platform of broker FXCM offers an intuitive interface and advanced features for efficient trading.
Lowest Costs Saxo Bank
offers competitive spreads and lower fees, making it ideal for active traders.
Saxo Bank FXCM