Written by ForexBrokers.com
In this head to head comparison of Saxo vs Plus500, 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 the online brokers Saxo and Plus500, both firms demonstrate a high level of trustworthiness with perfect Trust Score ratings of 99 out of 99 from ForexBrokers.com. Saxo, established in 1992, operates as a bank and is known for its strong regulatory framework with 7 Tier-1 licenses, the highest level of trust. Plus500, founded later in 2008, and publicly traded on a stock exchange, also maintains a solid regulatory position with 6 Tier-1 licenses and 3 Tier-2 licenses, which indicates a trusted status.
While Saxo is not publicly traded, its status as a bank may offer an added sense of security for some investors. Plus500’s status as a publicly traded entity, however, can provide transparency in its operations. Both brokers are highly regarded in the industry for their regulatory compliance and have established strong reputations over the years since their respective inceptions.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Year Founded | 1992 | 2008 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 6 |
| Tier-2 Licenses | 1 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees between online brokers Saxo and Plus500, Saxo emerges as a strong contender with its competitive pricing structure. Saxo offers some of the most favorable rates in the industry, particularly for active traders and high-volume investors who can maintain substantial account balances. Their average spread for the EUR/USD in 2023 is notably tight, with the Classic account at 1.1 pips, Platinum at 1.0 pips, and VIP at 0.9 pips. These spreads get even lower with the minimum being about 0.2 pips less than the average. Saxo's Classic, Platinum, and VIP account structures cater to traders with varying financial capacities, with entry level Classic having no minimum deposit, and elite VIP requiring a million-dollar account balance or significant trading volume. Ranking #9 out of 62 brokers for Commissions and Fees by ForexBrokers.com, Saxo enjoys a 5-star rating, highlighting its cost-effectiveness.
Plus500, on the other hand, generally maintains pricing slightly above the industry average, without offering the discounts prevalent among top brokers like Saxo. Its EUR/USD spread averaged 1.5 pips in April 2024, presenting higher trading costs. Unlike Saxo, which encourages traders with an array of tiered benefits, Plus500 offers cash rebates but these are restricted to Professional clients who meet specific criteria. Plus500 is rated at 4 stars and is ranked #25 out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com. While it provides a well-rounded service, it falls behind Saxo in terms of pricing efficiency, especially for active traders.
For traders prioritizing low fees and competitive spreads, Saxo provides a comprehensive advantage, especially when considering its pricing incentives and tiered account benefits. Meanwhile, Plus500 is a reliable choice but may not be the best fit for those seeking the most cost-effective trading experience. Both brokers offer unique features that cater to different trading profiles, but Saxo takes the lead with its extensive cost-saving options and high industry ranking.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.5 |
| All-in Cost EUR/USD - Active | 0.9 | 1.5 |
| Active Trader or VIP Discounts | Yes | No |
| 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 considering the variety of investments, Saxo and Plus500 stand out with distinct offerings. Saxo provides a vast selection with 70,000 tradeable symbols, surpassing Plus500's 5,500. Both brokers allow forex trading as CFDs or spot contracts, but Saxo impressively offers 190 tradeable forex pairs compared to Plus500's 65. Furthermore, clients can buy exchange-traded securities on U.S. and international exchanges through both platforms, giving access to major stocks like Apple and Vodafone. However, a unique feature of Saxo is its copy trading capability, a service Plus500 does not currently provide.
In terms of cryptocurrency, neither broker allows the purchase of actual cryptocurrencies but offers derivatives to engage with this growing market. For their extensive range of investments, Saxo earns a 5-star rating, while Plus500 receives 4.5 stars. These ratings are supported by their rankings from ForexBrokers.com, where Saxo is placed at 3rd out of 62 brokers, showcasing its superior range, whereas Plus500 is ranked 24th. This evaluation highlights Saxo's broader investment options, though Plus500 remains a competitive choice for many traders.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 5500 |
| Forex Pairs (Total) | 190 | 65 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
When comparing Saxo and Plus500 for trading platforms and tools, both brokers provide a free virtual demo account which is ideal for those wanting to try out trading without financial risk. Both platforms are designed in-house, giving users proprietary software, though their offerings are not identical. While Saxo provides a Windows-based desktop download option, Plus500 does not, focusing instead on web-based platforms that both brokers offer. Additionally, Saxo provides an edge with its copy trading feature, a capability not available on Plus500. Neither broker offers the popular MetaTrader 4 or MetaTrader 5 platforms, nor do they support DupliTrade or ZuluTrade.
For charting enthusiasts, Plus500 offers 22 drawing tools compared to Saxo's 20, though Saxo allows direct trading from a stock chart, a feature not available on Plus500. When it comes to managing watch lists, Saxo's platform shines with 60 columns, in contrast to Plus500's 10. According to ForexBrokers.com, Saxo earns a top rating of 5 stars for its trading platforms and tools and is ranked first among 62 brokers. Meanwhile, Plus500 is rated 4.5 stars, placing it in the 14th position. These rankings highlight Saxo's emphasis on offering feature-rich tools and platforms catering to a wide range of trading needs.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 114 |
| Charting - Drawing Tools (Total) | 20 | 22 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 60 | 10 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing Saxo and Plus500 for their mobile trading apps, both platforms offer comprehensive features that cater to traders on the go. Saxo and Plus500 provide iPhone and Android apps, stock and forex price alerts, and watchlist symbol syncing to ensure seamless trading experiences across devices. Both apps allow users to draw trendlines and view various time frames on their charts, catering to different trading styles and preferences. However, Saxo sets itself apart by auto-saving drawings on charts, a feature not available with Plus500. With 64 technical studies available, Saxo offers less versatility compared to Plus500's 110 studies, which may be a deciding factor for traders who rely heavily on technical analysis tools.
While both mobile apps support creating watchlists with real-time quotes, they differ in user ratings and industry rankings. Saxo takes the lead with a perfect 5-star rating for its mobile trading app, while Plus500 holds a respectable 4.5 stars. According to ForexBrokers.com, Saxo is ranked 2nd out of 62 brokers, reflecting its high regard in the market. On the other hand, Plus500 stands at the 14th position, which still highlights its competitive nature but indicates there is room for improvement. Ultimately, both apps deliver reliable performance, but Saxo's higher ranking and features such as auto-saving charts may appeal more to traders seeking a more integrated mobile trading experience.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 110 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between Saxo and Plus500, both brokers provide daily market commentary and a sentiment-based trading tool that shows long or short positions across currency pairs. However, Saxo distinguishes itself by offering forex news from top-tier sources like Bloomberg and Reuters, as well as technical analysis tools from Autochartist. On the other hand, Plus500 includes tools from Trading Central, such as Technical Analytics, although it does not provide forex news from the premiere sources that Saxo does.
Both Saxo and Plus500 offer economic calendars displaying upcoming global news events, but they differ significantly in their research ratings and rankings. Saxo is rated a perfect 5 stars for research, securing the #1 spot among 62 brokers. Plus500, while respectable with a 4-star rating, ranks at #19. Neither broker offers market research from TipRanks or Acuity Trading tools, such as Signal Centre. Overall, Saxo takes a notable lead in delivering comprehensive market research resources.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| 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.
When comparing the educational resources available for beginners at Saxo and Plus500, both online brokers offer a comprehensive suite of learning materials. Saxo provides a range of over ten engaging educational pieces focusing on forex and CFDs, as does Plus500. Both platforms also conduct monthly online educational webinars and make these sessions available in searchable archives for easy reference. Beginners are well-catered to with more than ten educational videos tailored to newcomers on each platform, ensuring foundational trading concepts are accessible. Additionally, both brokers extend their educational offerings to more seasoned traders with over ten advanced videos each.
However, a key differentiator is Saxo’s investor dictionary, which covers over 50 essential trading terms, enhancing Saxo’s educational experience for beginners wanting a deeper understanding of key concepts. This feature is not available with Plus500. In terms of overall educational quality, Saxo earns a 5-star rating, while Plus500 slightly trails with a 4.0-star rating. In the broader context of 62 brokers ranked by ForexBrokers.com for education, Saxo is placed at #13, showcasing its strong emphasis on education, whereas Plus500 holds the #31 spot. This suggests that while both brokers are well-suited for beginners, Saxo’s educational offerings are considered superior in delivering a more comprehensive learning experience.
| Feature |
Saxo
|
Plus500
|
|---|---|---|
| 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 | No |
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 Plus500. Saxo finished with an overall rank of #3, while Plus500 finished with an overall rank of #14.
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
|
Plus500
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Saxo and Plus500 allow traders to invest in cryptocurrency derivatives, but neither platform offers the option to buy actual cryptocurrency for delivery.
When comparing Saxo and Plus500 for depositing and withdrawing account funds, it's important to note that both brokers accept Visa and Mastercard payments as well as bank wire transfers; however, Plus500 additionally supports PayPal and Skrill, whereas Saxo does not provide these 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 | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Plus500 Review |
| Broker Screenshots | Saxo | Plus500 | |
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| Regulation | Saxo | Plus500 | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 2008 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 6 | |
| Tier-2 Licenses | 1 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Plus500 | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| 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 | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | Plus500 | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Plus500 | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 5500 | |
| Forex Pairs (Total) | 190 | 65 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Saxo | Plus500 | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.5 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.5 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Plus500 | |
|---|---|---|---|
| Minimum Deposit | $0 | €100 | |
| 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 | Plus500 | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Plus500 | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 10 | |
| Charting - Indicators / Studies (Total) | 64 | 114 | |
| Charting - Drawing Tools (Total) | 20 | 22 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Plus500 | |
|---|---|---|---|
| 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 | 110 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | Plus500 | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Plus500 | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | Saxo | Plus500 | |
|---|---|---|---|
| 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 | Plus500 Review |
| Overall | Saxo | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Plus500 Review |
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