Written by ForexBrokers.com
In this head to head comparison of Saxo vs CMC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Saxo and CMC Markets are both strong players in the online brokerage sphere, but they have distinct characteristics that set them apart. Founding years show their long-standing presence in the industry, with Saxo established in 1992 and CMC Markets in 1989. A key difference lies in their business structure: Saxo, which operates as a bank, is privately held, whereas CMC Markets is publicly traded. These factors contribute to their respective approaches to handling investments and customer relations.
When it comes to regulatory standing, both Saxo and CMC Markets are highly trusted, each achieving a stellar Trust Score of 99 from ForexBrokers.com. Saxo holds seven Tier-1 licenses, a nod to its strong regulatory compliance, while CMC Markets possesses five. Both firms maintain a single Tier-2 license, reflecting their commitment to delivering secure trading environments. Despite these differences, both brokers offer a level of trust and reliability that places them among the top choices for online trading enthusiasts.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Year Founded | 1992 | 1989 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing the commissions and fees of Saxo and CMC Markets, both brokers excel but cater to different audiences. Saxo offers a strong pricing structure, particularly for active and high-volume traders. With different account tiers, Saxo’s Classic, Platinum, and VIP accounts have average spreads of 1.1, 1.0, and 0.9 pips on the EUR/USD, respectively. Their commission-free forex trading approach remains advantageous, especially for larger accounts. Saxo's VIP account, however, is reserved for elite investors and has won accolades for its premium client experience. Saxo holds a five-star rating and is ranked #9 out of 62 brokers for commissions and fees.
On the other hand, CMC Markets garners praise for its consistently low spreads across all customer segments. Boasting an average spread of 0.61 pips on the EUR/USD, CMC Markets stands out for having one of the most competitive pricing models. The introduction of the Price Plus Scheme further enhances its offerings by providing trading discounts based on accumulated Trading Points. Additionally, the FX Active pricing model offers commission-based pricing with highly competitive spreads, giving traders options based on their trading styles. These features collectively have led CMC Markets to achieve a five-star rating and secure the top rank, #1, out of 62 brokers for commissions and fees.
Both Saxo and CMC Markets offer appealing fee structures, but with different entry points and features, they serve distinct trader demographics. Saxo's model suits those with significant trading volumes and larger account balances, while CMC Markets is ideal for traders seeking a straightforward, low-spread trading experience without necessarily needing to maintain a high account balance. With their exceptional ratings and rankings, either broker can be a suitable choice depending on individual trading needs and preferences.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 0.61 |
| All-in Cost EUR/USD - Active | 0.9 | 0.51 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and CMC Markets both stand out as excellent choices for forex trading, offering contracts for difference (CFD) or spot contracts. Saxo provides a remarkable range of tradeable symbols, boasting a staggering 70,000 compared to CMC Markets' 11,925. When it comes to forex pairs, Saxo again leads with 190 pairs available, while CMC Markets offers 156. Both brokers allow clients to invest in exchange traded securities on major U.S. and international stock exchanges, meaning you can easily purchase shares of companies like Apple and Vodafone.
Copy trading is an option with both Saxo and CMC Markets, allowing investors to mirror the trades of seasoned professionals. For those interested in cryptocurrency, both brokers offer cryptocurrency derivatives but not the actual digital coins. Despite CMC Markets' reputable offerings, Saxo edges ahead slightly in the "Range of Investments" category, earning a higher ranking of third place compared to CMC Markets' ninth among 62 brokers reviewed by ForexBrokers.com. Both brokers, however, receive a five-star rating for their investment range, showcasing their comprehensive offerings to traders.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 11925 |
| Forex Pairs (Total) | 190 | 156 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both Saxo and CMC Markets deliver a comprehensive suite of trading platforms and tools designed to cater to various trader preferences. Each broker provides a free virtual demo account, letting traders practice without financial risk. Both Saxo and CMC Markets proudly offer their proprietary trading platforms, available in desktop downloads for Windows and convenient web-based options. Despite these commonalities, CMC Markets holds a unique edge by supporting MetaTrader 4 (MT4) and MetaTrader 5 (MT5), whereas Saxo does not. Both platforms allow users to execute trades directly from stock charts and include features like copy trading. However, Saxo distinguishes itself with its impressive 60-column watch list capability, compared to CMC Markets' 11 columns.
When it comes to tools for technical analysis, CMC Markets shines with 40 drawing tools, double that offered by Saxo. Both platforms, however, lack support for DupliTrade and ZuluTrade. Despite these differences in features, both Saxo and CMC Markets receive high praise for their trading platforms and tools, each earning a five-star rating. However, Saxo has a slight edge in the industry, securing the top spot out of 62 brokers reviewed by ForexBrokers.com. Meanwhile, CMC Markets holds a respectable fourth place. This ranking reinforces Saxo's commitment to providing an exceptional trading experience, although CMC Markets remains a formidable competitor.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 79 |
| Charting - Drawing Tools (Total) | 20 | 40 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Saxo and CMC Markets provide highly-rated mobile trading apps for iPhone and Android users, featuring essential tools like stock and forex price alerts, watchlist symbol syncing, and the capability to draw trendlines on charts. Each app supports viewing multiple time frames and auto-saves chart drawings, ensuring a seamless experience for traders on the go. Real-time watchlists keep users informed, and both apps receive top marks with a five-star rating for mobile trading from industry experts.
When it comes to charting features, Saxo offers a more extensive selection with 64 technical studies available, compared to the 29 provided by CMC Markets. This difference may appeal to traders seeking more comprehensive analysis tools. Despite these similarities and minor differences, both brokers are highly regarded in the industry, with Saxo ranked at number 2 and CMC Markets at number 5 out of 62 brokers by ForexBrokers.com for their mobile trading capabilities.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Saxo and CMC Markets provide daily market commentary, giving traders regular updates to help them stay informed. Investors who value top-tier news sources can feel confident as both brokers offer forex news from leading providers like Bloomberg and Reuters. Additionally, these platforms incorporate tools from Autochartist, enhancing traders' ability to conduct technical and fundamental analyses effectively. However, neither Saxo nor CMC Markets include tools from Trading Central, which means investors expecting these specific offerings might need to explore other options. Both brokers also have sentiment-based trading tools that allow users to see the position ratios across various currency pairs, an essential feature for those who rely on crowd sentiment in their trading strategies.
When it comes to research rankings, Saxo is a standout performer, securing the top spot among 62 brokers on ForexBrokers.com, with a full 5-star rating for research. This rating reflects the comprehensive range of market insights it provides. CMC Markets also shines with a 5-star rating, but it ranks sixth in the same category. Both brokers present economic calendars to keep traders updated on critical global events. However, neither broker integrates analysis tools from Acuity Trading or market research from TipRanks, which might influence the decision of traders seeking these specific data insights. Overall, both Saxo and CMC Markets cater well to traders needing substantial market research resources, yet Saxo leads in overall research rankings.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners at Saxo and CMC Markets, both brokers offer a comprehensive range of educational materials on forex and CFDs. Each provides more than 10 learning resources, including articles, videos, and archived webinars, tailored to help new traders get started. Saxo and CMC Markets both include a wealth of beginner-focused videos, ensuring that newcomers have plenty of content to explore and learn from. That said, Saxo distinguishes itself by offering monthly online educational webinars, a feature not available with CMC Markets, although both brokers provide searchable archives of past webinars for convenient learning at any time.
Additionally, Saxo and CMC Markets deliver advanced educational videos and have extensive investor dictionaries, featuring definitions for over 50 investing terms. This comprehensive support underscores their commitment to trader education, with both receiving a perfect five-star rating for educational content. However, for those keen on industry rankings, CMC Markets holds the upper hand, securing the 10th spot, while Saxo ranks at 13th among 62 brokers reviewed by ForexBrokers.com for education. As such, while both brokers offer rich educational content, CMC Markets edges slightly ahead in educational service ranking.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Saxo is better than CMC Markets. Saxo finished with an overall rank of #3, while CMC Markets finished with an overall rank of #4.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Saxo and CMC Markets do not provide options for purchasing actual (delivered) cryptocurrencies, but they do offer the capability to buy cryptocurrency derivatives.
When comparing online brokers, Saxo does not support ACH or SEPA transfers, PayPal, or Skrill for depositing or withdrawing account funds, whereas CMC Markets provides ACH or SEPA and PayPal options, but neither supports Skrill, with both offering Visa, Mastercard, and bank wire transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | CMC Markets Review |
| Broker Screenshots | Saxo | CMC Markets | |
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| Regulation | Saxo | CMC Markets | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1989 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | CMC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | CMC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 11925 | |
| Forex Pairs (Total) | 190 | 156 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo | CMC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.61 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.51 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | CMC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 11 | |
| Charting - Indicators / Studies (Total) | 64 | 79 | |
| Charting - Drawing Tools (Total) | 20 | 40 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | CMC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 29 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | CMC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | CMC Markets | |
|---|---|---|---|
| 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 | |
| Review | Saxo Review | CMC Markets Review |
| Overall | Saxo | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | CMC Markets Review |
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