Written by ForexBrokers.com
In this head to head comparison of Saxo vs RoboForex, 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.
Saxo and RoboForex are both respected names in the online brokerage world, but they differ significantly in terms of trust and regulatory status. Founded in 1992, Saxo is not only a well-established broker but also operates as a bank. It holds an impressive seven Tier-1 licenses, which are highly trusted by industry standards, and one Tier-2 license. Saxo's adherence to stringent regulatory standards is reflected in its near-perfect Trust Score rating of 99 out of 99 on ForexBrokers.com, making it one of the most trusted choices for online traders.
On the other hand, RoboForex was established in 2009 and, while it does not function as a bank, it has gained a foothold in the market with one Tier-1 license. RoboForex is rated as having average risk with a Trust Score of 73, according to ForexBrokers.com. The broker is not publicly traded, and unlike Saxo, it lacks Tier-2 licensing. These distinctions are crucial for traders considering the level of trust and regulation they require in a broker.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Year Founded | 1992 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When it comes to comparing commissions and fees, Saxo offers competitive pricing options, especially for active and high-volume traders. Saxo boasts one of the lowest pricing structures in the market, offering average spreads on the EUR/USD of 1.1 pips for Classic accounts, slightly better at 1.0 pips for Platinum accounts, and the most favorable at 0.9 pips for VIP accounts as of November 2023. These figures place Saxo above average in pricing for its classic account while aligning with the industry norms for Platinum and VIP tiers. Saxo's streamlined costs are highlighted by the absence of any minimum deposit for the Classic account, a $200,000 minimum for the Platinum account (or AUD 300,000 for forex traders in Australia), and $1,000,000 for the VIP account.
In contrast, RoboForex presents slightly higher costs with an average spread of 1.3 pips for EUR/USD on its Procent and Pro accounts. Despite providing a fair service, RoboForex's pricing doesn't quite match the competitive edge found with Saxo, especially when considering the unique benefits offered to those within Saxo’s Platinum and VIP tiers. Both brokers offer commission-free trading, although Saxo charges a nominal ticket fee for low-volume traders.
When evaluated by ForexBrokers.com, Saxo receives an impressive 5-star rating for its commissions and fees, placing it 9th out of 62 brokers. Conversely, RoboForex earns a 3.5-star rating and is ranked 54th. Saxo’s favorable reputation among traders is further emphasized by its ability to waive custody fees for share trading in certain circumstances and its prestigious 2024 Annual Award for the #1 VIP Client Experience. These advantages, combined with the scalability of its loyalty program, position Saxo as a more attractive choice for those prioritizing cost efficiency and premium service.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| 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 it comes to the range of investment options, Saxo and RoboForex cater to diverse trading needs, though Saxo takes the lead with its extensive offerings. Saxo gives traders access to a staggering 70,000 tradable symbols including 190 forex pairs, allowing for a broad selection in both local and international markets. In contrast, RoboForex provides 8,400 tradable symbols with 28 forex pairs. Though more limited, RoboForex still includes key options for traders. Saxo excels by granting access to actual shares on U.S. and international exchanges, something RoboForex doesn't offer, focusing on CFDs instead.
Both Saxo and RoboForex support trading in forex as CFDs or spot contracts and offer copy trading platforms for those looking to mirror successful strategies. Despite neither broker allowing the purchase of actual cryptocurrencies, they both facilitate trading in cryptocurrency derivatives. When rated for range of investments, Saxo edges ahead with a 5-star rating, ranking third among 62 brokers, while RoboForex follows with a 4.5-star rating and a 20th position ranking, indicating strong but narrower offerings compared to Saxo.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 8400 |
| Forex Pairs (Total) | 190 | 28 |
| 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 online brokers Saxo and RoboForex, there's a noticeable difference in their trading platforms and tools. Saxo has developed its own platform in-house, offering users a unique trading experience on both Windows-based desktop and web-based platforms. It provides a free virtual demo account for simulated trading, allowing new users to practice without risk. In terms of trading tools, Saxo excels with 60 fields for watch lists and offers the capability to trade directly from charts. Additionally, Saxo provides 20 chart drawing tools, which greatly enhance the analytical capabilities of the platform. However, Saxo does not support MetaTrader 4 or 5, nor third-party platforms like DupliTrade or ZuluTrade. For trading platforms and tools, Saxo receives a top rating of 5 stars and leads the industry ranking at number one according to ForexBrokers.com.
RoboForex, on the other hand, relies on third-party platforms such as MetaTrader 4 and 5, which are highly popular among traders who value their broad community and extensive customization options. Like Saxo, RoboForex offers a Windows-based desktop platform and a web-based trading platform, along with a simulated trading account for practice. It also supports copy trading, a feature favored by many who prefer to follow the strategies of experienced traders. While RoboForex offers fewer chart drawing tools compared to Saxo, with just 15 options, it does provide the ability to trade directly from stock charts. However, its watch list is limited to 7 fields. RoboForex earns a 4-star rating for its trading platforms and tools, ranking 43rd among 62 brokers as per ForexBrokers.com.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and RoboForex, both platforms provide comprehensive support for iPhone and Android users, including features like stock and forex price alerts and trendline drawing capabilities on charts. Saxo, however, stands out with its impressive rating of 5 stars and a second-place rank among 62 brokers in the Mobile Trading Apps category on ForexBrokers.com. Meanwhile, RoboForex, rated 4 stars, holds the 43rd spot in the same category, indicating a more moderate level of user satisfaction.
Regarding technical features, Saxo offers more extensive options for technical studies with 64 available on its mobile app compared to the 30 offered by RoboForex. Additionally, Saxo's app allows for seamless syncing of watchlists with the client’s online account, enhancing ease of use, while RoboForex lacks this convenient feature. Both platforms do provide essential functionalities such as creating watchlists with real-time quotes and the ability to view multiple time frames on charts, ensuring users have access to crucial information as they trade.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 RoboForex provide strong offerings, but they cater to different preferences. Both offer daily market commentary and up-to-date forex news from reputable sources like Bloomberg and Reuters. Where they diverge is in the types of research tools they integrate. Saxo provides tools from Autochartist and sentiment-based trading tools, providing detailed insights into market trends and participant positioning. In contrast, RoboForex equips traders with resources from Trading Central and Acuity Trading, offering technical analysis and signal services.
Both brokers make economic calendars available for traders to keep track of critical global events. However, there is a notable difference in their overall research ratings. Saxo, highly acclaimed with a perfect five-star rating, ranks as the top choice among 62 brokers reviewed by ForexBrokers.com. Meanwhile, RoboForex, with a rating of 3.5 stars, is placed in the mid-range at #37, reflecting a more moderate offering in research tools and analysis. The choice between the two will largely depend on which research tools align best with a trader's strategy and needs.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When considering educational resources for beginners, Saxo clearly outshines RoboForex. Saxo provides a comprehensive education platform with over ten pieces focused on forex or CFDs, including articles, videos, and past webinars. They also offer monthly webinars and maintain a searchable archive of these sessions for easy access. Additionally, Saxo provides more than ten beginner-focused educational videos and even covers advanced trading topics with an extensive video collection. An investor dictionary with over 50 terms is also available to help newcomers understand key concepts. In contrast, RoboForex does not meet these offerings, lacking the minimum number of educational resources and webinars dedicated to forex or CFDs.
In terms of ratings and rankings, Saxo earns an impressive five-star rating for its educational offerings, positioning it at number 13 out of 62 brokers according to ForexBrokers.com. On the other hand, RoboForex scores 3.5 stars and is ranked far behind at number 56. This clear disparity highlights Saxo's commitment to equipping beginners with solid trading knowledge, making it a preferred choice for those new to forex and CFDs trading.
| Feature |
Saxo
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 RoboForex. Saxo finished with an overall rank of #3, while RoboForex finished with an overall rank of #46.
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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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 73 |
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Both Saxo and RoboForex do not provide the option to purchase actual cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
While both Saxo and RoboForex provide Visa/Mastercard and bank wire options for depositing or withdrawing account funds, RoboForex additionally supports ACH/SEPA transfers, PayPal, and Skrill, enhancing its flexibility compared to Saxo's offerings.
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 | RoboForex | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Saxo Review | RoboForex Review |
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| Regulation | Saxo | RoboForex | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1992 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 8400 | |
| Forex Pairs (Total) | 190 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | RoboForex | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | Saxo | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | RoboForex | |
|---|---|---|---|
| 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 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | RoboForex | |
|---|---|---|---|
| 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 | 30 | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Saxo | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | Saxo | RoboForex | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Saxo Review | RoboForex Review |
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