Written by ForexBrokers.com
In this head to head comparison of Saxo vs FP Markets, 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, established in 1992, stands out with its exceptional credibility, holding a perfect ForexBrokers.com Trust Score of 99 out of 99. As a bank, Saxo offers a reassuring figure of seven Tier-1 licenses, underscoring its high level of trustworthiness. Additionally, it maintains one Tier-2 license. Despite being a privately held company, Saxo's longstanding presence in the market and extensive regulatory approvals highlight its stability and reliability.
FP Markets, founded in 2005, is a newer participant in the trading scene, earning a respectable Trust Score of 89 from ForexBrokers.com. While it is not a bank, FP Markets holds two Tier-1 licenses and one Tier-2 license, indicating a trusted standing in the market. Although it lacks the banking status and extensive Tier-1 licensing that Saxo possesses, FP Markets remains a credible choice for traders seeking a trusted broker.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Year Founded | 1992 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Saxo and FP Markets on commissions and fees, both brokers demonstrate competitive pricing but cater to slightly different trading needs. Saxo stands out with its excellent all-around pricing structure, particularly for those who are active or high-volume traders or maintain large account balances. Saxo's pricing on its Platinum and VIP accounts aligns closely with industry averages, while its Classic account shows slightly higher spreads, averaging 1.1 pips on the EUR/USD pair. Minimum spread data is lower, around 0.2 pips below the average. Saxo also offers commission-free forex trading, with a minor ticket fee of $3 per side for low-volume traders. The broker has earned a stellar 5-star rating for commissions and fees, ranked #9 out of 62 brokers.
FP Markets, on the other hand, provides highly competitive pricing through its commission-based Raw ECN accounts. As of October 2023, FP Markets’ Raw ECN account boasts average spreads of 0.1 pips, which amounts to 0.8 pips when factoring in commission, making it an economical choice. Meanwhile, their Standard account spreads are broader, averaging 1.1 pips for EUR/USD. FP Markets' Iress platform is noted for its high-balance account options, with the ViewPoint account aimed at active traders. In contrast, the Iress Investor account offers a more economical entry point but features limitations. FP Markets also receives a 5-star rating for commissions and fees, ranking slightly higher than Saxo at #6.
Ultimately, both Saxo and FP Markets provide strong offerings in terms of commissions and fees, meriting recognition in their respective categories. Saxo is particularly advantageous for elite traders seeking sophisticated account options like the VIP tier, which requires a significant deposit but offers exclusive advantages. FP Markets, however, excels with its attractive spread and commission pricing, especially for those using MetaTrader or cTrader platforms, earning accolades for its cost-competitiveness. Though similar in rating, the choice between these brokers ultimately depends on your trading style and account needs.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average Spread EUR/USD - Standard | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by Saxo and FP Markets, several distinguishing factors emerge. Saxo provides an extensive selection with 70,000 tradeable symbols, including 190 forex pairs. This platform supports trading exchange-traded securities on U.S. and international exchanges, allowing clients to invest in well-known companies like Apple and Vodafone. Moreover, Saxo facilitates forex trading both as a CFD and spot contract, offers cryptocurrency derivatives, and supports copy trading. Consequently, Saxo has earned an impressive 5-star rating and ranks 3rd in the Range of Investments by ForexBrokers.com.
On the other hand, FP Markets features a slightly more limited selection with 10,000 tradeable symbols and 71 forex pairs available. Unlike Saxo, FP Markets does not offer trading in exchange-traded securities from U.S. or international stock exchanges. Nevertheless, the platform still accommodates forex trading as a CFD and spot contract, provides cryptocurrency derivatives, and supports copy trading. While FP Markets is well-rated with a 4.5-star ranking and holds the 18th position for Range of Investments by ForexBrokers.com, it offers a narrower scope of investment opportunities compared to Saxo.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 10000 |
| Forex Pairs (Total) | 190 | 71 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
When comparing the trading platforms and tools offered by Saxo and FP Markets, there are several key differences worth noting. Both brokers provide users with the option to engage in paper trading through a virtual demo account. They also offer proprietary platforms developed in-house, as well as Windows-based desktop downloads and web-based platforms. Saxo and FP Markets facilitate copy trading, but only FP Markets supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), widely recognized in the trading community for their robust functionalities.
On the charting front, Saxo provides more options with 20 drawing tools compared to FP Markets' 17. Additionally, Saxo allows users to create detailed watch lists with up to 60 columns, far surpassing the 7 offered by FP Markets. Both brokers enable direct trading from stock charts. Saxo's comprehensive trading platforms and tools earn it a 5-star rating and a #1 rank among 62 brokers by ForexBrokers.com, while FP Markets receives 4 stars and a #23 rank, reflecting the broker's strengths in trading technology.
| Feature |
Saxo
|
FP 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 | 30 |
| Charting - Drawing Tools (Total) | 20 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and FP Markets both offer mobile trading apps for iPhone and Android, making them accessible for a wide range of users. Both platforms allow traders to receive stock or forex price alerts directly to their mobile devices. However, a key difference is in watchlist symbol syncing; Saxo users can enjoy seamless integration between the mobile app and their online accounts, allowing for changes to be reflected across both platforms, whereas FP Markets does not provide this feature. When it comes to charting tools, Saxo stands out with 64 technical studies available, compared to FP Markets' MetaTrader default offerings, giving Saxo users more options for detailed analysis. Both apps allow users to draw trendlines and view multiple time frames, with Saxo and FP Markets offering autosaving of chart drawings to enhance user experience. Additionally, both platforms allow creating watchlists with real-time quotes.
In terms of performance and user satisfaction, Saxo is highly rated, earning 5 stars for its mobile trading apps and ranking as number two among 62 brokers according to ForexBrokers.com. On the other hand, FP Markets, while still competitive with a solid 4-star rating, ranks 18th. This suggests that while both brokers provide strong mobile trading platforms, Saxo's app may offer a more advanced and user-friendly experience, making it an appealing choice for traders who value comprehensive market analysis and seamless account integration on their mobile devices.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | MetaTrader (Default) |
| 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 comparing the market research offerings of online brokers Saxo and FP Markets, both provide daily market commentary and access to top-tier forex news sources like Bloomberg, Reuters, and Dow Jones. They also include tools from Autochartist for technical or fundamental analysis. However, FP Markets stands out by providing Technical Analytics from Trading Central, a feature Saxo lacks. Both brokers offer sentiment-based trading tools that display a ratio of long or short positions across various instruments and deliver comprehensive economic calendars tracking global news events. Despite these similarities, there are no additional market research tools or resources from TipRanks or Acuity Trading offered by either broker.
In terms of research quality, Saxo takes the lead with a strong 5-star rating, surpassing FP Market's 4-star evaluation. Saxo's top-notch research capabilities are further emphasized by its #1 ranking out of 62 brokers according to ForexBrokers.com, making it a favorite for those prioritizing extensive market insights. In contrast, FP Markets ranks #25, which still reflects a respectable level of research offerings but underscores its slight lag behind Saxo in this aspect.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| 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.
When it comes to educational resources for beginners, both Saxo and FP Markets provide a strong foundation for getting started with forex and CFDs trading. Each platform offers at least 10 educational pieces, including articles, videos, and archived webinars, all focused on forex or CFDs. Additionally, you can attend monthly online educational webinars hosted by both brokers, with access to a searchable archive of previously recorded sessions. For those new to trading, Saxo and FP Markets both offer an extensive library of beginner videos to help traders build their knowledge, as well as advanced videos for more experienced traders looking to deepen their understanding of the markets. This is complemented by investor dictionaries featuring over 50 defined trading terms, available at both brokers.
Despite their similarities, any potential trader should note the distinction in educational acclaim, with Saxo achieving an impressive 5-star rating compared to FP Markets' solid 4-star rating. Furthermore, Saxo is ranked #13 out of 62 brokers by ForexBrokers.com for its educational offerings, while FP Markets holds the #23 spot. This suggests that Saxo may offer a slightly more comprehensive educational experience for those beginning their trading journey. Whether you choose Saxo or FP Markets, both platforms provide valuable resources to enhance your trading skills and knowledge, setting you on the right path to successful investing.
| Feature |
Saxo
|
FP Markets
|
|---|---|---|
| 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 FP Markets. Saxo finished with an overall rank of #3, while FP Markets finished with an overall rank of #19.
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
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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Both Saxo and FP Markets do not provide the option to purchase actual cryptocurrency (delivered), but they do offer the ability to trade cryptocurrency derivatives.
In a comparison of online brokers, both Saxo and FP Markets provide Visa or Mastercard and bank wire options for depositing and withdrawing funds, but FP Markets additionally supports PayPal and Skrill, while Saxo does not offer these digital payment options.
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 | FP Markets | |
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| Trust Score | 99 | 89 | |
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| Review | Saxo Review | FP Markets Review |
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| Regulation | Saxo | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 89 | |
| Year Founded | 1992 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 10000 | |
| Forex Pairs (Total) | 190 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | FP 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | MetaTrader (Default) | |
| 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 | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FP Markets | |
|---|---|---|---|
| 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 | FP 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 | FP Markets Review |
| Overall | Saxo | FP Markets | |
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| Trust Score | 99 | 89 | |
| Winner | check_circle | ||
| Review | Saxo Review | FP Markets Review |
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