Written by ForexBrokers.com
In this head to head comparison of Saxo vs FOREX.com, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% 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.
When comparing online brokers, Saxo and FOREX.com both stand out with a perfect Trust Score of 99 from ForexBrokers.com, indicating they are highly trusted. Saxo, established in 1992, operates as a bank and holds an impressive seven Tier-1 licenses and one Tier-2 license, underscoring its strong regulatory position. In contrast, FOREX.com, founded in 1999 and publicly traded, matches Saxo with seven Tier-1 licenses and one Tier-2 license, although it is not a bank.
Despite starting seven years later than Saxo, FOREX.com's status as a publicly traded company might appeal to investors seeking transparency associated with listed firms. Meanwhile, Saxo's status as a bank may attract those who value stability and traditional banking roots. Both brokers exhibit strong regulatory credentials, providing traders with a secure and trustworthy trading environment. With equal Trust Scores and Tier-1 licenses, either platform makes a compelling choice depending on individual preferences.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Year Founded | 1992 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing commissions and fees between Saxo and FOREX.com, Saxo shines with excellent pricing options, especially for high-volume traders and those capable of maintaining significant account balances. As of November 2023, Saxo's EUR/USD spreads range from 1.1 pips for their Classic account to a competitive 0.9 pips for VIP clients. Saxo offers commission-free trading for most forex trades but does impose a small fee for lower-volume traders. Their commitment to value is underscored by a 5-star rating and a #9 ranking among brokers for commissions and fees.
FOREX.com presents varied account types, notably transitioning from their DMA to the RAW account, featuring competitive spreads of 0.13 pips for the EUR/USD, albeit with per-trade commissions. Their Standard account, offering market-maker execution, has a higher average spread of 1.4 pips in the U.S., presenting a higher premium compared to industry averages. Despite this, their structured RAW account provides volume-based rebates, accommodating high-volume traders. FOREX.com holds a 4.5-star rating and ranks #13 in commissions and fees among brokers.
In summary, both Saxo and FOREX.com cater to different trading needs. Saxo emerges as the more favorable option for traders seeking lower fees at higher trade volumes, celebrated for their competitive spreads and commission-free stance for most trades. Meanwhile, FOREX.com appeals to traders prioritizing varied account features and structured rebate programs, though at slightly higher spreads without significant trading volumes. Each broker brings distinct advantages, thus offering varied financial participation experiences for traders.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.4 |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 |
| 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.
When comparing Saxo and FOREX.com in terms of the range of investments they offer, Saxo stands out with an impressive selection of 70,000 tradeable symbols and 190 forex pairs. This is significantly higher than FOREX.com's offering of 5,500 tradeable symbols and 91 forex pairs. Furthermore, Saxo allows clients to invest in exchange-traded securities on both U.S. and international exchanges, making it possible to purchase shares like Apple and Vodafone directly. In contrast, FOREX.com does not provide access to exchange-traded securities but focuses on CFD and spot contract forex trading, similar to Saxo's offerings in this area. Both brokers allow clients to engage with cryptocurrency derivatives but not actual cryptocurrencies.
Saxo also provides copy trading options, which is absent from FOREX.com's feature set. Despite the differences in investment opportunities, both brokers earned a five-star rating for their range of investments. However, Saxo was ranked slightly above FOREX.com, securing the #3 spot compared to FOREX.com's #7 ranking by ForexBrokers.com. This places Saxo in a favorable position for investors seeking diverse investment options across various asset classes.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 5500 |
| Forex Pairs (Total) | 190 | 91 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When comparing the trading platforms and tools offered by Saxo and FOREX.com, both brokers provide a full spectrum of features designed to cater to the needs of modern traders. Saxo and FOREX.com each offer a free virtual demo account, giving traders the opportunity to practice their skills without risking real money. Both brokers also provide their own proprietary platforms as well as Windows-based desktop platforms and web platforms, ensuring flexibility and ease of access for clients. Saxo offers copy trading, while FOREX.com does not, which might be a decisive factor for those interested in this feature. While Saxo does not offer MetaTrader 4 (MT4) or MetaTrader 5 (MT5), FOREX.com supports both, appealing to traders who favor these popular platforms.
Charting tools vary significantly between the two: Saxo offers 20 drawing tools while FOREX.com provides an impressive 239. Both brokers allow traders to execute trades directly from stock charts, enhancing the user experience. When it comes to watch lists, Saxo offers 60 columns or fields, markedly more comprehensive than the 20 fields available with FOREX.com. In terms of performance, Saxo is rated five stars and ranked as the number one broker out of 62 for trading platforms and tools by ForexBrokers.com, while FOREX.com also holds a five-star rating but is ranked seventh. This suggests while both platforms are highly regarded, Saxo edges out slightly in terms of overall platform excellence according to industry assessments.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 88 |
| Charting - Drawing Tools (Total) | 20 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and FOREX.com, both platforms offer comprehensive features for iPhone and Android users. They provide essential functionalities like real-time price alerts, watchlist syncing with online accounts, multiple time frames for charting, and the ability to draw and auto-save trendlines. Saxo supports 64 technical studies for charting, whereas FOREX.com offers a more extensive selection with 88 studies. Both apps allow users to create watchlists with real-time quotes, ensuring traders have immediate access to the data they need on the go.
Both Saxo and FOREX.com have earned high praise for their mobile trading apps, each achieving a five-star rating. However, in ForexBrokers.com's rankings, Saxo claims a slightly higher position at #2 out of 62 brokers, while FOREX.com is close behind at #3. Despite their respective rankings, both apps provide a seamless and user-friendly experience for traders at all levels, making them strong contenders in the mobile trading space.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 88 |
| 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.
When it comes to market research, both Saxo and FOREX.com offer daily market commentary and provide forex news from top-tier sources like Bloomberg and Reuters. Saxo excels with advanced tools from Autochartist and a sentiment-based trading tool, providing traders with a comprehensive view of market movements. While it doesn’t feature insights from Trading Central or TipRanks, Saxo includes a detailed economic calendar to keep traders informed. Notably, Saxo is rated 5 stars for research and holds the prestigious rank of #1 among 62 brokers by ForexBrokers.com.
FOREX.com, on the other hand, matches Saxo in offering daily insights and news from elite sources and supplies unique research tools from Trading Central. Although it lacks Autochartist tools, traders can still benefit from a sentiment-based trading tool and an extensive economic calendar. While it doesn’t incorporate research from TipRanks or Acuity Trading, FOREX.com maintains a strong reputation with a 4.5-star research rating and ranks #9 for research by ForexBrokers.com. Overall, both brokers provide valuable resources, yet Saxo appears to have the edge in terms of overall market research capabilities.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| 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.
Both Saxo and FOREX.com provide a substantial collection of educational resources for beginners interested in forex and CFD trading. With at least ten educational pieces available, which include articles, videos, and archived webinars, both platforms ensure newcomers have access to sufficient introductory material. In terms of online learning, Saxo and FOREX.com each host regular client webinars, giving users the chance to deepen their understanding through live interaction. These sessions are also archived, so you can revisit and review past webinars whenever needed.
For users eager to learn through video content, both platforms satisfy with at least ten instructional videos focused specifically on beginner topics, alongside content designed for more experienced traders. Complementing this, each broker features an investor dictionary with over 50 trading terms defined, supporting learners in building a solid foundation of trading vocabulary. According to ForexBrokers.com, Saxo is rated at 5 stars and ranked 13th out of 62 brokers for its educational offerings, while FOREX.com is rated at 4.5 stars and holds a 4th place ranking. This comparison highlights Saxo's slight edge in educational quality, although FOREX.com ranks higher in the overall market, indicating both are strong choices for beginners looking to advance their trading education.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| 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 FOREX.com. Saxo finished with an overall rank of #3, while FOREX.com finished with an overall rank of #5.
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
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FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Saxo and FOREX.com do not offer the ability to buy actual (delivered) cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
When comparing online brokers Saxo and FOREX.com in terms of options for depositing or withdrawing account funds, Saxo supports Visa, Mastercard, and bank wires but lacks ACH, SEPA, PayPal, and Skrill, while FOREX.com offers greater flexibility with ACH, SEPA, PayPal, Visa, Mastercard, and bank wire options, though it does not support Skrill.
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 | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | FOREX.com Review |
| Broker Screenshots | Saxo | FOREX.com | |
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| Regulation | Saxo | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 5500 | |
| Forex Pairs (Total) | 190 | 91 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| 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 | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 20 | |
| Charting - Indicators / Studies (Total) | 64 | 88 | |
| Charting - Drawing Tools (Total) | 20 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FOREX.com | |
|---|---|---|---|
| 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 | 88 | |
| 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 | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FOREX.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| 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 | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com Review |
| Overall | Saxo | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | FOREX.com Review |
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