Written by ForexBrokers.com
In this head to head comparison of Saxo vs TeleTrade, 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 Saxo and TeleTrade, both online brokers founded in 1992 and 1994 respectively, there are several key distinctions in terms of regulatory standing and trustworthiness. Saxo, which is also a bank, boasts an impressive regulatory portfolio with 7 Tier-1 licenses and 1 Tier-2 license, leading to a top Trust Score rating of 99 out of 99 as per ForexBrokers.com. This high score reflects Saxo's favorable regulatory environment and commitment to maintaining high standards in financial security and consumer trust.
On the other hand, TeleTrade, while a trusted name since 1994 and holding 1 Tier-1 license, does not operate as a bank and lacks any Tier-2 licenses. This positions it with a Trust Score of 71, indicating an average risk level. Both Saxo and TeleTrade are privately held entities, but Saxo's designation as a bank and its broader regulatory compliance contribute to a significantly higher trust perception when compared to TeleTrade.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| Year Founded | 1992 | 1994 |
| 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 TeleTrade, Saxo emerges as a leader in delivering competitive pricing, particularly for active and high-volume traders. Saxo offers different account tiers: Classic, Platinum, and VIP, each with varied pricing structures. As of November 2023, the average spread on EUR/USD for Saxo’s accounts stands at 1.1, 1.0, and 0.9 pips, respectively, with minimum spreads slightly lower than these averages. Saxo’s entry-level Classic account now requires no minimum deposit for new customers, making it accessible to more traders. In contrast, upgrading to a Platinum account requires a deposit of $200,000, or significant trading volume, while the exclusive VIP account necessitates a $1,000,000 deposit or extensive trading activity. Saxo shines with a commission-free structure for forex trading, except for traders with minimal monthly activity who face a small ticket fee.
TeleTrade lacks the detailed average spread data that Saxo provides, making a direct comparison challenging. Despite this, TeleTrade maintains a reasonable presence with a solid reputation in the industry. However, its ranking and rating indicate that it falls behind Saxo in terms of commissions and fees. While TeleTrade holds a four-star rating for fees, Saxo surpasses it with a five-star rating, offering enhanced affordability and benefits for their clients. Furthermore, Saxo is ranked 9th out of 62 brokers by ForexBrokers.com for commissions and fees, whereas TeleTrade ranks 46th. This highlights Saxo’s superior value in the competitive landscape of online trading platforms.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 comparing Saxo and TeleTrade on their range of investments, Saxo clearly stands out with its extensive offerings. Saxo provides access to 70,000 tradeable symbols, dwarfing TeleTrade's 500. Forex enthusiasts can choose from 190 forex pairs with Saxo, while TeleTrade offers 61 pairs. Saxo also allows clients to trade exchange-traded securities, including popular stocks like Apple on U.S. exchanges and international stocks like Vodafone on the London Stock Exchange. In contrast, TeleTrade does not provide the option to trade exchange-traded securities on these international markets.
Both brokers offer forex trading through CFDs or spot contracts and support copy trading. Additionally, they provide opportunities to trade cryptocurrency derivatives but do not offer direct cryptocurrency purchases. The distinct difference in investment range is reflected in their ratings, with Saxo earning five stars and ranking third out of 62 brokers in investment range according to ForexBrokers.com, while TeleTrade holds a rating of 3.5 stars and ranks 45th. This highlights Saxo's superior position for investors seeking a wider variety of tradeable options.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 500 |
| Forex Pairs (Total) | 190 | 61 |
| 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 the trading platforms and tools offered by Saxo and TeleTrade, several distinctions emerge that cater to different trader preferences. Both brokers provide the ability to experience simulated trading with free demo accounts, assisting beginners and professionals alike in honing their strategies risk-free. Saxo sets itself apart with its in-house developed platform, which contributes to its high ratings, whereas TeleTrade relies on third-party platforms such as MetaTrader 4 and 5, both favored by many traders for their advanced features. Both brokers offer downloadable desktop platforms for Windows and convenient web-based platforms, allowing traders flexible access. Additionally, copy trading is supported by both Saxo and TeleTrade, providing opportunities to follow successful trading strategies. However, TeleTrade extends its suite by offering ZuluTrade, a popular choice among traders seeking automated trading solutions.
Charting and customization options also vary between the two brokers. Saxo impresses with a robust set of 20 drawing tools and allows up to 60 fields for watch lists, enhancing the ability to tailor and track market information according to individual needs. In contrast, TeleTrade offers 15 drawing tools and seven fields for watch lists, which might be sufficient for traders who prefer a simpler overview. Furthermore, both brokers enable trading directly from stock charts, streamlining the trading process. These features contribute to Saxo receiving the highest rating for trading platforms and tools with a perfect five-star score, ranking it first out of 62 brokers according to ForexBrokers.com. Meanwhile, TeleTrade holds a respectable four-star rating, occupying the 51st position in the same category.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 64 | 35 |
| 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.
Both Saxo and TeleTrade offer mobile trading apps for iPhone and Android users, providing a wide range of features for traders on-the-go. Users of both platforms can receive stock or forex price alerts and create watchlists with real-time quotes. While both apps allow users to draw trendlines and view charts in multiple time frames, Saxo offers a more comprehensive charting experience with 64 technical studies compared to TeleTrade's 35. Additionally, Saxo ensures watchlist symbol syncing, enabling seamless synchronization between the mobile app and the online account—a feature not available with TeleTrade.
In terms of user ratings, Saxo shines with a perfect 5-star score for its mobile trading apps, ranking 2nd out of 62 brokers according to ForexBrokers.com. On the other hand, TeleTrade holds a respectable 4-star rating, placing it at 25th in the same category. Overall, both apps cater well to trader needs, but Saxo seems to provide an enhanced experience with its additional features and higher user satisfaction.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 35 |
| 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 TeleTrade provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters. However, Saxo stands out by offering Autochartist tools for technical analysis or fundamental research, a feature that TeleTrade doesn’t provide. Both brokers lack tools from Trading Central and Acuity Trading, and neither incorporates market research from TipRanks. Yet, Saxo distinguishes itself with a sentiment-based trading tool, while TeleTrade does not. Both platforms include an economic calendar for tracking global news events.
In terms of overall research quality, Saxo receives a higher rating, earning five stars and ranking first among 62 brokers according to ForexBrokers.com. In contrast, TeleTrade is rated at 3.5 stars and ranks 38th. Saxo’s higher rating and ranking reflect its superior research tools and offerings, making it a more attractive choice for those prioritizing comprehensive market insights.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Saxo stands out compared to TeleTrade. Saxo provides a comprehensive educational package that includes more than ten pieces of material focused on forex and CFDs, supplemented by regular monthly webinars. These resources are easily accessible through a searchable archive. Saxo also offers both beginner and advanced educational videos, ensuring that every trader, regardless of their experience level, can find valuable insights. Additionally, Saxo provides an investor dictionary that defines over 50 essential investing terms, helping newcomers to familiarize themselves with trading terminology. As a result of these offerings, Saxo has been awarded a five-star rating for education and is proudly ranked 13th out of 62 brokers in this category by ForexBrokers.com.
In contrast, TeleTrade's educational resources appear limited. Unlike Saxo, TeleTrade does not provide the minimum of ten educational pieces focused on forex and CFDs, nor do they offer monthly webinars or an archive of past webinars. This limitation extends to their video resources too, as they lack sufficient content aimed at either beginner or advanced traders. Furthermore, the absence of a comprehensive investor dictionary makes it harder for novices to get acquainted with trading terms. This shortfall in educational offerings reflects in their 3.5-star education rating and rank of 61st out of 62 brokers according to ForexBrokers.com, positioning them significantly behind Saxo in terms of educational resources for beginners.
| Feature |
Saxo
|
TeleTrade
|
|---|---|---|
| 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 TeleTrade. Saxo finished with an overall rank of #3, while TeleTrade finished with an overall rank of #50.
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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TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Saxo and TeleTrade do not provide the option to purchase actual delivered cryptocurrency, yet they each offer the opportunity to invest in cryptocurrency derivatives.
While both Saxo and TeleTrade lack options like ACH, SEPA, and PayPal for depositing or withdrawing funds, TeleTrade distinguishes itself by supporting Skrill, whereas both brokers provide the convenience of Visa, Mastercard, and bank wire transfers for financial transactions.
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 | TeleTrade | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review |
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| Regulation | Saxo | TeleTrade | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1992 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 500 | |
| Forex Pairs (Total) | 190 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | Saxo | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 35 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 |
| Overall | Saxo | TeleTrade | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Saxo Review |
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