Written by ForexBrokers.com
In this head to head comparison of Saxo vs Spreadex, 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, founded in 1992, and Spreadex, established in 1999, are both prominent names in the online brokerage industry. While neither is publicly traded, Saxo stands out as a bank, offering a greater sense of security. Saxo's regulatory credentials are impressive, with seven Tier-1 licenses and a Trust Score of 99, indicating it is highly trusted. Spreadex, on the other hand, possesses a single Tier-1 license and holds a Trust Score of 71, placing it in the average risk category according to ForexBrokers.com.
When choosing between these two brokers, Saxo provides a higher level of regulation and trust, making it a safer choice for investors seeking strong regulatory oversight. Spreadex offers a different appeal, but its lower Trust Score suggests a higher level of caution is advised. Understanding these differences can help investors make informed decisions based on their risk tolerance and preference for regulatory assurance.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Year Founded | 1992 | 1999 |
| 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 | 0 |
If you're considering Saxo or Spreadex as your online broker, it's important to understand how they compare in terms of commissions and fees. Saxo is known for offering excellent all-around pricing, particularly appealing to active and high-volume traders as well as those who can maintain substantial account balances. As of November 2023, Saxo's average spreads for EUR/USD were 1.1, 1.0, and 0.9 pips for Classic, Platinum, and VIP accounts, respectively. The broker ensures competitive pricing, especially with its Platinum and VIP accounts being in line with industry averages, while their Classic account is slightly above average. Notably, Saxo waives custody fees for share trading if traders participate in securities lending.
In terms of entry requirements, Saxo offers a variety of account options. The Classic account requires no minimum deposit, making it accessible for new customers globally. Those looking for more premium services can opt for the Platinum account, needing a $200,000 deposit (AUD 300,000 for Australian forex traders). For the elite VIP account, a minimum deposit of $1,000,000 is necessary, or traders can qualify by accruing enough loyalty points through high trading volumes. Saxo has also distinguished itself by winning an award for the #1 VIP Client Experience in 2024. Additionally, in terms of forex trading, Saxo is commission-free, charging only through spreads, apart from a ticket fee for traders with smaller volumes.
Spreadex, on the other hand, offers an attractive average spread of 0.81 pips for EUR/USD as of January 2024, with a minimum spread of 0.6 pips available 60% of the time. While Saxo holds an impressive five-star rating and ranks #9 out of 62 brokers for commissions and fees by ForexBrokers.com, Spreadex earns four stars and is ranked #27. This indicates both brokers provide good value, with Saxo having a slight edge, especially for those who can leverage its premium account offerings.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 0.81 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Spreadex, both brokers offer forex trading through Contracts for Difference (CFDs) or spot contracts, with Saxo boasting a far larger selection. Saxo impresses with an extensive array of 70,000 tradeable symbols, including 190 forex pairs, whereas Spreadex offers 10,000 tradeable symbols and 52 forex pairs. Investors seeking exchange-traded securities will find Saxo more accommodating, as it provides direct access to both U.S. and international exchanges, facilitating the purchase of renowned stocks like Apple and Vodafone. Spreadex, in contrast, does not offer exchange-traded securities on these markets.
Both brokers present the option to engage with cryptocurrency derivatives, though neither allows direct cryptocurrency purchases. Saxo enhances its offerings with copy trading, a feature absent in Spreadex's offerings. Despite these distinctions, both brokers receive strong five-star ratings for "Range of Investments." However, Saxo is ranked higher, securing the third position out of 62 brokers in the same category, compared to Spreadex's 13th-place ranking by ForexBrokers.com. This comparison highlights Saxo's broader investment opportunities, making it a preferable choice for those seeking diverse and comprehensive market access.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 10000 |
| Forex Pairs (Total) | 190 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, both Saxo and Spreadex bring distinct offerings to the table. Saxo, highly acclaimed with a five-star rating and ranked first out of 62 brokers by ForexBrokers.com, boasts a comprehensive suite of tools. It provides clients with a proprietary platform developed in-house, access to a Windows-based desktop platform, and a versatile web-based platform. This broker facilitates experienced traders with options like copy trading and the ability to trade directly from stock charts. Additionally, Saxo impresses with a robust array of customization features, offering 60 columns for watch lists and 20 drawing tools for chart analysis.
Spreadex, on the other hand, offers a friendly user experience with its proprietary web-based platform, though it lacks a Windows-based desktop application. With a four-star rating and positioned at 46th by ForexBrokers.com, this broker may appeal to those seeking simplicity and ease of use. Spreadex provides a free virtual demo account for practice, similar to Saxo, but does not support copy trading. While its charting tools include 11 drawing options, Spreadex supports trading directly from stock charts, which can be appealing for many investors. Watch lists in Spreadex offer eight columns for data tracking, providing a solid, if less expansive, choice for traders.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| 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 | 58 |
| Charting - Drawing Tools (Total) | 20 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between Saxo and Spreadex for mobile trading, both platforms offer apps for iPhone and Android users. Both apps provide stock or forex price alerts to keep you informed on market movements. However, Saxo stands out with its ability to sync watchlists between the mobile app and the online account, a feature absent in Spreadex. Additionally, Saxo offers 64 technical studies for in-depth chart analysis, while Spreadex does not provide specific information on this. Both apps allow users to draw trendlines and view different time frames on stock or forex charts. Nonetheless, only Saxo saves these drawings automatically, offering more convenience for its users.
Saxo's mobile app is also notable for allowing the creation of watchlists with real-time quotes, a feature mirrored by Spreadex. However, the Saxo mobile trading app has achieved a top rating of 5 stars and ranks 2nd out of 62 brokers, according to ForexBrokers.com. In contrast, Spreadex's app holds a 4-star rating and ranks 46th. Saxo's more comprehensive features and higher ratings make it a preferred choice for users seeking a comprehensive and seamless mobile trading experience.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| 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 features of Saxo and Spreadex, both platforms offer daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Additionally, they each provide technical analysis tools from Autochartist and sentiment-based trading tools that reflect market positions. Both brokers lack research tools from Trading Central, TipRanks, and Acuity Trading, but they do offer economic calendars to keep traders informed of global news events.
Saxo edges out Spreadex in market research, earning a perfect 5-star rating while Spreadex follows with 4 stars. Saxo's market research capabilities place it at the top of ForexBrokers.com's rankings as the number one broker out of 62 contenders, whereas Spreadex ranks at #31. This makes Saxo a strong choice for those prioritizing comprehensive market research tools.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| 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 offered by Saxo and Spreadex for trading beginners, both brokers provide a solid foundation with a variety of educational pieces focused on forex and CFDs. Saxo excels with over 10 beginner-focused educational videos, regular monthly webinars, and a searchable archive of previously recorded sessions. Their educational offerings extend to advanced topics, making them a comprehensive resource for both new and experienced traders. Additionally, Saxo includes an investor dictionary with definitions for over 50 investing terms, ensuring users have a thorough understanding of trading terminology.
Spreadex, while offering a strong selection of beginner educational videos similar to Saxo, falls short in providing regular webinars or a searchable archive of these sessions. They focus more on foundational trading education and provide an investor dictionary that aligns with the needs of beginners. Rated 4 stars for education and ranked #45 out of 62 brokers, Spreadex offers a commendable educational package, yet Saxo's broader and deeper resources, alongside a 5-star rating, place it higher at #13 in the education rankings by ForexBrokers.com.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Spreadex. Saxo finished with an overall rank of #3, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Saxo and Spreadex do not offer the option to buy actual delivered cryptocurrency, but they do provide the ability to purchase cryptocurrency derivatives.
Both Saxo and Spreadex do not offer ACH, SEPA, PayPal, or Skrill for account transactions, but they do support Visa, Mastercard, and bank wires for deposits and withdrawals.
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 | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
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| Regulation | Saxo | Spreadex | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1992 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Saxo | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 10000 | |
| Forex Pairs (Total) | 190 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | Saxo | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 58 | |
| Charting - Drawing Tools (Total) | 20 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| 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 | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | Saxo | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
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