Written by ForexBrokers.com
In this head to head comparison of Saxo vs XM Group, 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 considering online brokers, Saxo and XM Group stand out for their strong regulatory credentials, albeit with notable differences. Founded in 1992, Saxo operates as a bank, enhancing its credibility and trust in the financial markets. It holds an impressive seven Tier-1 licenses, which are highly valued for investor protection and regulatory compliance. This comprehensive regulatory framework contributes to Saxo's exceptional Trust Score of 99 out of 99, indicating the highest level of trustworthiness according to ForexBrokers.com.
In contrast, XM Group, founded in 2009, is not a bank, yet it maintains a solid regulatory foundation with four Tier-1 and one Tier-2 licenses. Although it is not on a stock exchange, much like Saxo, XM Group has a commendable Trust Score of 88 out of 99. This places it in the trusted category, reflecting a commitment to safety and regulation. While both brokers are not publicly traded, their regulatory standings offer potential investors a clear picture of their reliability and market position.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Year Founded | 1992 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online brokers Saxo and XM Group, Saxo stands out with its excellent pricing for all types of traders. Active and high-volume traders, as well as those maintaining substantial account balances, will find Saxo's pricing especially competitive, particularly in its Platinum and VIP accounts, where the average spreads for EUR/USD sit at 1.0 and 0.9 pips, respectively. The Classic account's spread is slightly higher with an average of 1.1 pips. Saxo also offers a zero minimum deposit for its Classic account, while substantial balances are required for its higher tiers. A unique feature is the waiver of custody fees for traders participating in securities lending, adding to its appeal for long-term investors. Notably, Saxo's commission-free model in forex trading—except for those trading under 50,000 units monthly—further highlights its cost-effective offerings. Saxo earns a stellar 5-star rating and ranks 9th out of 62 brokers according to ForexBrokers.com for its commissions and fees.
In contrast, XM Group presents higher costs, particularly with its Standard account where spreads are described as expensive. The lack of published average spreads for XM's Zero account makes it challenging to gauge precise pricing. However, it still secures a respectable 4-star rating, ranking 33rd in the commissions and fees category. While XM Group might not match Saxo's pricing strategy for frequent traders, it still offers competitive options for those less concerned with minimizing costs.
Overall, while both platforms provide distinct advantages, Saxo's lower spreads, and enticing loyalty upgrades make it an attractive choice for traders focused on pricing strategies, particularly those committing to higher account tiers. On the other hand, XM Group's offers can suit traders who prioritize other features over minimal pricing. Each broker caters to different trading styles and preferences, ensuring that investors can find a suitable match based on their individual trading activity and financial commitments.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.1 | 1.6 |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| 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.
Saxo and XM Group both offer an array of trading opportunities, but they differ significantly in the volume of available options. Saxo stands out with a vast selection of 70,000 tradeable symbols, including 190 forex pairs, making it a top choice for traders seeking variety. This extensive offering extends to exchange-traded securities, allowing clients to invest in both U.S. companies like Apple and international firms such as Vodafone. Additionally, Saxo supports both forex and cryptocurrency derivatives trading and offers copy trading features, securing its position as a highly-rated platform for a diverse range of investments.
Alternatively, XM Group provides a more streamlined selection with 1,394 tradeable symbols and 55 forex pairs. Despite the smaller range, XM still allows traders to engage with U.S. and international exchange-traded securities, mirroring Saxo’s capabilities in global trading markets. Similar to Saxo, XM offers CFD-based forex and cryptocurrency trading, as well as copy trading services. Although XM Group holds a commendable 4.5-star rating for its range of investments, it ranks 23rd among 62 brokers, highlighting the impressive breadth Saxo provides in comparison.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1394 |
| Forex Pairs (Total) | 190 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 Saxo and XM Group on their trading platforms and tools, both offer free demo accounts for practice trading. Saxo provides a unique trading experience with its own in-house platform, ensuring tailored services for its users, while XM Group relies on third-party platforms like MetaTrader 4 and 5. Both brokers support trading platforms available on Windows and web-based platforms, ensuring flexibility and convenience for traders. Interestingly, while both Saxo and XM Group provide copy trading options, Saxo takes the lead with direct trading from stock charts and an ample selection of 60 watch list columns compared to XM Group's 7 columns.
In terms of charting tools, Saxo surpasses XM Group with 20 drawing tools, allowing more detailed analyses. Despite both not offering third-party social trading platforms like DupliTrade or ZuluTrade, Saxo stands out with its exceptionally high rating — 5 out of 5 stars for its trading platforms and tools, ranked #1 out of 62 brokers by ForexBrokers.com. In contrast, XM Group receives a respectable 4-star rating but trails behind at #30 in the same category. These distinctions highlight Saxo's premium and intuitive trading environment, setting a high bar for traders in search of diverse and effective trading capabilities.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| 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 it comes to mobile trading apps, both Saxo and XM Group offer comprehensive solutions for traders using either iPhone or Android devices. Both brokers provide essential features such as stock or forex price alerts and watchlist symbol syncing, allowing for seamless updates between the app and online accounts. However, Saxo seems to have an edge in charting capabilities with 64 technical studies available compared to XM Group's 30. Both platforms support drawing trendlines and viewing multiple time frames on charts, but Saxo enhances user experience by offering auto-save functionality for chart drawings, which XM Group does not.
Creating watchlists with real-time quotes is possible with both Saxo and XM Group, ensuring traders have up-to-date information at their fingertips. In terms of user satisfaction, Saxo achieves a perfect rating with five stars for its mobile trading apps, whereas XM Group follows closely with four stars. Moreover, Saxo is ranked higher at #2 in the Mobile Trading Apps category by ForexBrokers.com, compared to XM Group's position at #27 out of 62 brokers. This suggests that for those prioritizing advanced charting tools and overall app performance, Saxo might be the preferred choice.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 the market research offerings of Saxo and XM Group, both brokers provide valuable resources to assist their clients. Saxo and XM Group offer daily market commentary, keeping clients informed with timely insights. For forex news, both brokers provide updates from leading sources such as Bloomberg and Reuters, ensuring access to high-quality information. However, Saxo distinguishes itself by offering tools from Autochartist, a well-known provider of technical and fundamental analysis tools, which XM Group does not. On the other hand, XM Group provides tools from Trading Central, including Technical Analytics, which Saxo does not offer. Both brokers include economic calendars to track global news events and sentiment-based trading tools that present the ratio of long and short positions on various instruments.
Though neither Saxo nor XM Group incorporates market research from TipRanks or Acuity Trading's Signal Centre, both are highly rated for their research services, each earning 5 stars from ForexBrokers.com. However, Saxo leads in the Research category, ranked 1st among 62 brokers, while XM Group secures the 8th position. This ranking highlights Saxo's strength in market research, making it a strong contender for those prioritizing comprehensive analysis tools and industry news.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| 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 | Yes |
| 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, both Saxo and XM Group stand out with a wide array of offerings aimed at helping new traders get started in forex and CFDs. Both brokers provide a wealth of educational content, including more than 10 pieces such as articles, videos, and archived webinars focused on forex and CFDs. You can expect regular online educational webinars, with at least one session held every month. Additionally, both Saxo and XM Group offer easily searchable archives of past webinars to ensure beginners have access to a variety of learning materials at their convenience.
For those just starting out, Saxo and XM Group each offer over 10 dedicated beginner educational videos, demystifying trading topics in an easy-to-understand manner. Advanced traders are not left out, with both brokers providing over 10 in-depth videos for those with more experience. While both have similar offerings, Saxo adds an extra advantage with an investor dictionary covering over 50 investing terms, which is not available with XM Group. Despite this, both brokers earn a five-star rating for education, although XM Group ranks slightly higher at #7 compared to Saxo's #13 in the education category according to ForexBrokers.com. This close comparison shows that new traders can find substantial learning support with either Saxo or XM Group.
| Feature |
Saxo
|
XM Group
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 XM Group. Saxo finished with an overall rank of #3, while XM Group finished with an overall rank of #17.
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
|
XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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While neither Saxo nor XM Group allows investors to purchase actual, delivered cryptocurrency, both brokers provide the option to trade cryptocurrency derivatives.
When comparing the online brokers Saxo and XM Group, neither offers ACH or SEPA transfers or PayPal for fund transactions, while only XM Group supports Skrill, and both provide options for Visa, Mastercard, and bank wire transfers.
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 | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
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| Regulation | Saxo | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| 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 | 4 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 1394 | |
| Forex Pairs (Total) | 190 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | XM Group | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Saxo | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | Saxo | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Saxo Review | XM Group Review |
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