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.
Comparing online brokers Saxo and Spreadex: Saxo was founded in 1992 and operates as a bank, while Spreadex began in 1999 and is not a bank. Neither company is publicly traded.
Regulation and trust: Saxo holds 7 Tier-1 licenses and 1 Tier-2 license, earning a 99/99 Trust Score from ForexBrokers.com (90–99 = highly trusted). Spreadex holds 1 Tier-1 license and no Tier-2 licenses, with a Trust Score of 70/99 (70–79 = average risk). This points to broader regulatory oversight for Saxo compared with Spreadex.
| 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 |
Saxo and Spreadex both offer competitive pricing, but Saxo stands out overall for commissions and fees. Saxo is rated 5 out of 5 stars and ranks #8 out of 36 brokers for this category at ForexBrokers.com. For forex trading, Saxo is generally commission-free and earns money through the spread, although traders who trade fewer than 50,000 units per month pay a $3 ticket fee per side. Its average EUR/USD spread in November 2023 was 1.1 pips on the Classic account, 1.0 pips on Platinum, and 0.9 pips on VIP, with pricing improving as account balances and trading volume rise.
Spreadex is rated 4 out of 5 stars and ranks #25 out of 36 brokers for commissions and fees. In January 2024, its average EUR/USD spread was 0.81 pips, and the minimum spread of 0.6 pips was available 60% of the time during the month. That makes Spreadex a solid choice for spread-based forex pricing, but Saxo has the stronger overall result in this category, especially for active traders and clients who qualify for higher account tiers.
In short, Spreadex may show a lower average EUR/USD spread in the data provided, but Saxo offers better overall value across a wider range of traders, thanks to its tiered pricing, commission-free forex model, and extra savings for higher-balance and high-volume clients. Saxo also offers a $0 minimum deposit for new Classic accounts, while Platinum and VIP status require much larger balances or qualifying trade volume. For traders focused on long-term cost efficiency and upgrade potential, Saxo is the stronger pick on commissions and fees.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.0 | 0.81 |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and Spreadex both let you trade forex as either CFDs or spot contracts, and both offer cryptocurrency CFDs, but neither supports copy trading or the purchase of actual, delivered crypto. Where Saxo stands out is in size and choice: it lists about 71,000 tradeable symbols and 190 forex pairs, compared with Spreadex’s 10,000 symbols and 52 forex pairs. Saxo also gives clients access to exchange traded securities on both U.S. and international exchanges, so you can buy real shares such as Apple or Vodafone. Spreadex does not offer direct share dealing on these exchanges.
For range of investments, both brokers are rated 5 stars, but Saxo is ranked higher overall by ForexBrokers.com, coming in at #3 out of 36 brokers versus Spreadex at #13. If you want a wider mix of markets and more product choice, Saxo has the clear edge. Spreadex still covers the main bases for forex and CFDs, but its selection is much smaller.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 10000 |
| Forex Pairs (Total) | 190 | 52 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Saxo and Spreadex both give traders a free demo account, a built-in platform made by the broker, web-based trading, and the option to place trades directly from charts. Neither broker supports copy trading or MetaTrader 4 and MetaTrader 5, so if you want those third-party platforms, you will need to look elsewhere. Saxo also stands out by offering a Windows desktop trading platform, while Spreadex does not provide a desktop download.
When it comes to trading platforms and tools, Saxo has the edge overall. ForexBrokers.com rates Saxo 5 out of 5 stars and ranks it #3 out of 36 brokers in this category, while Spreadex scores 4 out of 5 stars and ranks #34. For traders comparing online brokers on platform quality and features, Saxo is the stronger choice, especially if a desktop platform matters to you.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 61 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Spreadex both offer mobile trading apps for iPhone and Android, and each includes price alerts plus the ability to draw trendlines on charts. For everyday mobile trading, that means both brokers cover the basics well. Saxo, however, goes further with watchlist syncing between its app and online account, so changes carry across devices, while Spreadex does not offer this feature.
When it comes to charting, Saxo stands out with 64 technical studies and auto-saving drawings, which can make chart analysis easier to manage on the go. Spreadex does not list a technical studies count and does not auto-save chart drawings in its app. These differences help explain why Saxo earns a 5-star mobile app rating and ranks #3 out of 36 brokers, while Spreadex is rated 4 stars and ranks #33.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Saxo and Spreadex both give traders a solid set of market research tools. Each one offers daily market commentary, forex news from major sources such as Bloomberg and Reuters, Autochartist tools, sentiment data showing long and short positions, and an economic calendar with global events. Neither broker includes Trading Central, TipRanks, or Acuity Trading, so their research lineups are fairly similar on the tools side.
The main difference is in overall research quality and industry ranking. Saxo is rated 5 out of 5 stars for Research and is ranked #1 out of 36 brokers by ForexBrokers.com, while Spreadex is rated 4 out of 5 stars and ranked #27. In simple terms, both brokers cover the basics well, but Saxo offers a stronger research experience overall.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for learning tools, Saxo has a clear edge over Spreadex. Saxo offers forex and CFD education, regular online client webinars at least once a month, and more than 10 beginner and advanced videos that cover trading topics in a step-by-step way. It is also rated 5 stars for Education and ranked #12 out of 36 brokers by ForexBrokers.com, which points to a stronger overall learning setup for new traders.
Spreadex still provides useful beginner video content, with at least 10 videos aimed at new traders, but it falls behind Saxo in several key areas. It does not offer monthly educational webinars, and it does not have at least 10 advanced trading videos or the same level of forex and CFD-focused education. Spreadex is rated 4 stars for Education and ranked #33 out of 36, so while it may suit beginners who want basic video lessons, Saxo offers the fuller educational experience.
| Feature |
Saxo
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 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 #32.
Saxo is a 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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Spreadex
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| Overall Rating |
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| Trust Score | 99 | 70 |
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Saxo vs Spreadex: neither broker allows purchases of actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading for exposure without owning the underlying asset.
Both Saxo and Spreadex support bank wire transfers for deposits and withdrawals, but neither offers ACH/SEPA, PayPal, or Skrill, and Visa/Mastercard availability is not specified.
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 | 70 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
| Broker Screenshots | Saxo | Spreadex | |
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| Regulation | Saxo | Spreadex | |
|---|---|---|---|
| Trust Score | 99 | 70 | |
| 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 (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 10000 | |
| Forex Pairs (Total) | 190 | 52 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.0 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | Saxo | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 58 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | Spreadex | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Saxo | Spreadex | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | Spreadex Review |
| Overall | Saxo | Spreadex | |
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| Trust Score | 99 | 70 | |
| Winner | check_circle | ||
| Review | Saxo Review | Spreadex Review |
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