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 |
When comparing the commissions and fees of Saxo and Spreadex, Saxo stands out with competitive pricing, especially for active and high-volume traders who can maintain large account balances. As of November 2023, Saxo's EUR/USD average spreads were 1.1, 1.0, and 0.9 pips for their Classic, Platinum, and VIP accounts, respectively. Notably, while Saxo's Classic account pricing is above the industry average, their Platinum and VIP accounts are more aligned with typical market rates. Additionally, Saxo waives custody fees for share trading if traders opt into securities lending. The Classic account requires no minimum deposit, while the Platinum account needs $200,000. Saxo's VIP offerings demand a minimum of $1,000,000 or significant trade volume for eligibility, reflecting its award-winning client experience.
In contrast, Spreadex reported an average spread of 0.81 pips for EUR/USD as of January 2024, achieving a minimum spread of 0.6 pips about 60% of the time during that month. While Spreadex also charges no commission, its lesser rating reflects a more generalized service compared to Saxo’s tailored offerings. Saxo is especially attractive for forex traders seeking volume-based discounts and exclusive membership benefits, while Spreadex provides a straightforward and consistent pricing model without the complexities of tiered account levels.
In terms of ratings, Saxo received a 5-star rating for commissions and fees from ForexBrokers.com, ranking #9 out of 62 brokers. Spreadex, while still competitive, received a 4-star rating and was ranked #30. Saxo's superior ranking highlights its ability to deliver lower costs through strategic account structures and loyalty programs, setting it apart from Spreadex in a cost-conscious market.
| 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 comparing the online trading platforms of Saxo and Spreadex, several key differences come to light. Saxo offers a rich trading experience with its proprietary platform, which is available both as a downloadable Windows-based desktop platform and a versatile web-based platform. Additionally, Saxo supports virtual paper trading with a free demo account, allowing users to practice without financial risk. In contrast, Spreadex also has a proprietary platform but only offers it in a web-based format, with no option for paper trading. While both brokers allow trading directly from stock charts, Saxo provides a far more comprehensive set of drawing tools, boasting 20 compared to Spreadex’s 11. Furthermore, Saxo's watch lists offer significantly more customization with up to 60 columns, whereas Spreadex only allows for 8. This attention to detail is reflected in Saxo's top ranking and a 5-star rating in trading platforms and tools, compared to Spreadex's more modest 4-star rating and #46 ranking.
Both brokers do not support the popular MetaTrader platforms or social trading services like DupliTrade and ZuluTrade. However, Saxo expands its offerings with copy trading capabilities, giving users access to new trading strategies by following experienced traders. Despite both platforms allowing trading directly from the chart, the variety of technical tools and customizable features place Saxo ahead in providing a premium trading platform experience. This robust feature set contributes to Saxo being rated as the best among 62 brokers in the Trading Platforms and Tools category by ForexBrokers.com, underscoring the broker's commitment to delivering high-quality trading experiences. Spreadex, while a solid choice, ranks considerably lower, leaving it as a less comprehensive option for those who seek advanced trading features.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| 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 | 55 |
| 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.
Saxo and Spreadex both offer mobile trading apps compatible with iPhone and Android devices, providing features like stock and forex price alerts and the ability to draw trendlines on charts. However, Saxo edges out with more sophisticated options, including the syncing of watchlist symbols between the mobile app and the client's online account, which isn't available with Spreadex. Saxo users can benefit from Saxo’s offering of 64 technical studies for charting to aid in market analysis, an area where Spreadex doesn't disclose a comparable feature.
In terms of user ratings and rankings, Saxo takes the lead with five stars, placing second out of 62 brokers for mobile trading apps by ForexBrokers.com. Meanwhile, Spreadex holds a four-star rating and lands at #49 in the same ranking. Saxo’s app also auto-saves drawings on charts, adding a layer of convenience not found in Spreadex's offerings. Both platforms support multiple time frames and the creation of watchlists with real-time quotes, yet Saxo appears to deliver a more comprehensive and synchronized 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 evaluating online brokers for market research, Saxo and Spreadex both offer daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. However, Saxo distinguishes itself by providing advanced analysis tools from Autochartist, while Spreadex does not offer these specific tools. Both platforms include sentiment-based trading tools and provide an economic calendar showcasing essential global events. Importantly, neither broker offers research tools from companies like Trading Central or Acuity Trading, nor do they offer market insights from TipRanks.
In terms of overall research quality, Saxo excels with a perfect 5-star rating and holds the top spot out of 62 brokers according to ForexBrokers.com. Spreadex, while also competent, holds a 4-star rating and stands at the 31st position in the same category. This difference underscores Saxo's reputation as a leading choice for traders seeking comprehensive market research capabilities.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| 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 | No | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 8 | |
| Charting - Indicators / Studies (Total) | 64 | 55 | |
| 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 | No | |
| 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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