Saxo vs FXCM 2024

Saxo is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), zero tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Saxo is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), and regulated in the European Union via the MiFID passporting system.

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.

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

To open a trading account with Saxo, you'll need to make an initial minimum deposit of $0.

FXCM requires a minimum deposit of Starts from $50 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas FXCM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo holds 7 global Tier-1 licenses, while FXCM holds 4. FXCM holds 2 global Tier-2 licenses, while Saxo holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo (99) earned a higher Trust Score than FXCM (95).

To compare the trading platforms of both Saxo and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo offers a better experience. With research, Saxo offers superior market research. Finally, we found Saxo to provide better mobile trading apps.

Here’s what trading platforms are available at Saxo:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at FXCM:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - Yes
• TradingView - Yes

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FXCM offers MetaTrader 4 (MT4), while Saxo does not. Forex traders also appreciate the ability to engage in social copy trading. Saxo and FXCM both offer copy trading.

Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to FXCM's 43 available pairs. If you are interested in trading a full range of securities, Saxo offers traders access to 70000 tradeable symbols, while FXCM offers access to 440 tradeable symbols; so Saxo offers 69560 more tradeable symbols than FXCM.

We found in our testing that Saxo offers a more diverse selection of investment options than FXCM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical).