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 | 1 |
| Tier-4 Licenses | 0 | 1 |
Saxo earns 5 stars for commissions and fees and ranks #8 out of 63 brokers; FOREX.com earns 4.5 stars and ranks #15. Both brokers publish clear pricing, but they take different paths to get there, which can affect your all-in costs depending on your balance, location, and trading volume.
Saxo is commission-free for forex, making money on the spread, with one exception: if you trade less than 50,000 units per month, there’s a $3 per side ticket fee. As of November 2023, typical EUR/USD spreads were 1.1 pips (Classic), 1.0 (Platinum), and 0.9 (VIP), with minimums about 0.2 pips tighter. The Classic account now has a $0 minimum deposit, while Platinum requires $200,000 and VIP $1,000,000. Saxo also waives custody fees on share trading if you opt into securities lending.
FOREX.com’s Standard account averaged 1.4 pips on EUR/USD in the U.S. (July 2023), while outside the U.S. averaged about 0.74 pips. Its RAW account targets lower spreads (about 0.13 pips) plus a $7 per standard lot commission ($3.5 per side), with volume rebates of $2–$9 per million; however, unless you trade more than $50 million per month, the all-in costs for U.S. clients tend to align with the Standard account. Bottom line: high-balance, high-volume traders often find Saxo’s upper tiers highly competitive, while FOREX.com’s RAW plan can shine for very active traders who reach higher rebate tiers; casual traders may see Saxo’s Classic as comparable or cheaper, keeping in mind Saxo’s small-ticket fee for very low monthly volume.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.0 | 1.00 |
| All-in Cost EUR/USD - Active | 0.8 | 1.13 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and FOREX.com both let you trade forex as CFDs and spot contracts, and each supports exchange-traded securities on U.S. and international exchanges. The big difference is scale: Saxo lists about 71,000 tradeable symbols and 190 forex pairs, while FOREX.com offers roughly 5,500 symbols and 80 forex pairs. Both brokers offer cryptocurrency trading via CFDs, but neither lets you buy actual crypto or use copy trading.
Despite their different catalog sizes, both earn 5 out of 5 stars for Range of Investments from ForexBrokers.com. In the category rankings, Saxo places #3 out of 63 brokers, while FOREX.com comes in at #6. If you want the widest selection across markets, Saxo’s extensive lineup stands out; if you prefer a streamlined list that still covers key assets, FOREX.com remains a strong choice.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 5500 |
| Forex Pairs (Total) | 190 | 80 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Saxo and FOREX.com both check key boxes for trading platforms and tools. Each offers a free demo (paper) account, a proprietary platform, a Windows desktop download, and a web-based platform. Both also support trading directly from charts. Neither broker offers copy trading. The biggest platform difference is MetaTrader: Saxo does not provide MT4 or MT5, while FOREX.com supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5)—useful if you prefer the MetaTrader ecosystem.
On performance, both brokers earn 5 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com. In category rankings, Saxo is placed 3rd out of 63 brokers, while FOREX.com ranks 5th out of 63. If you want a polished in-house experience with chart trading, either is a solid pick; if MetaTrader access is a must-have, FOREX.com has the edge.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 61 | 90 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FOREX.com both deliver full-featured mobile trading apps on iPhone and Android. Each app supports price alerts and watchlist syncing with your online account, so changes carry over across devices. For charting, both apps let you draw trendlines and automatically save your drawings, making it easy to revisit your analysis on the go.
When it comes to technical analysis tools, FOREX.com offers 90 built-in studies in its mobile charts, while Saxo includes 64. Both apps earn 5 out of 5 stars for Mobile Trading Apps, according to ForexBrokers.com. In the same category, FOREX.com ranks #2 out of 63 brokers, with Saxo close behind at #3. If you want the widest selection of indicators, FOREX.com has the edge; if 64 studies cover your needs, Saxo delivers a similarly polished mobile trading experience.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 90 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and FOREX.com both deliver daily market commentary, forex news from leading sources like Bloomberg, Reuters, or Dow Jones, and a detailed economic calendar. Each also provides a sentiment tool that shows the ratio of long vs. short positions. Their toolsets differ: Saxo offers Autochartist for technical pattern scanning, while FOREX.com features Trading Central for technical and fundamental insights. Neither includes TipRanks or Acuity Trading tools.
Both brokers earn 5 stars for Research. That said, their standings vary: Saxo is ranked #1 out of 63 brokers for Research by ForexBrokers.com, while FOREX.com holds the #7 spot. If you want Autochartist, Saxo is a strong pick; if you prefer Trading Central, FOREX.com may fit better.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you’re new to forex and CFDs, both Saxo and FOREX.com make learning straightforward. Each offers a full education hub with well over 10 pieces of forex- and CFD-focused content, including articles, videos, and archived webinars. New traders get at least 10 beginner-friendly videos that cover the basics in plain language, and there are 10+ advanced videos when you’re ready to go deeper. Both brokers also run client webinars at least once a month, giving you live sessions to build skills and ask questions.
Quality is strong at both brokers: ForexBrokers.com rates Education at 5 stars for Saxo and for FOREX.com. The main difference is ranking—FOREX.com is #4 out of 63 brokers for Education, while Saxo is #12. That makes FOREX.com a slightly better pick if you want one of the highest-ranked learning centers, though Saxo remains an excellent option with extensive beginner and advanced material. In short, you’ll find a complete learning path at either broker; choose the one whose style and platform you prefer.
| Feature |
Saxo
|
FOREX.com
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 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 #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
|
FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Saxo vs FOREX.com: both online brokers offer cryptocurrency trading through CFDs, but neither allows clients to buy or take delivery of actual (spot) crypto assets.
Compared to Saxo, FOREX.com supports ACH/SEPA transfers, PayPal, and Skrill for deposits and withdrawals, while both brokers accept bank wire transfers; Visa/Mastercard availability was not specified.
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 | 1 | |
| 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 (FSA 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 | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No |
| Investments | Saxo | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 5500 | |
| Forex Pairs (Total) | 190 | 80 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.0 | 1.00 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.13 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | FOREX.com | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Saxo | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 90 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 90 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FOREX.com | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | FOREX.com | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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