Written by ForexBrokers.com
In this head to head comparison of Saxo vs Xtrade, 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 and Xtrade are both recognized online brokers, yet they have distinct differences in their regulatory standings. Founded in 1992, Saxo has established itself as a significant player in the online brokerage industry. It operates as a bank and boasts seven Tier-1 licenses, which are considered highly trusted by ForexBrokers.com. This strong regulatory footing contributes to Saxo's impressive Trust Score of 99 out of 99, indicating a high level of reliability.
In contrast, Xtrade, which commenced operations in 2003, does not have banking status and holds only one Tier-1 license, alongside one Tier-2 license. With a Trust Score of 74 out of 99, Xtrade is classified as average risk according to ForexBrokers.com. Both brokers are privately held and not publicly traded, offering different levels of security and regulatory reassurance to potential investors. Saxo's higher trust score and greater number of high-trust licenses distinguish it as a safer choice for users prioritizing regulatory confidence.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Year Founded | 1992 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Saxo offers excellent all-around pricing, especially for active and high-volume traders. For those who can maintain large account balances, Saxo's costs are among the lowest in the industry. As of November 2023, the average spread for EUR/USD pairs is 1.1 pips for the Classic account, dropping to 1.0 and 0.9 pips for the Platinum and VIP accounts, respectively. The Classic account's spreads are slightly above the industry average, while the Platinum and VIP accounts offer more competitive rates. Notably, Saxo does not charge a commission on forex trades, earning instead from the spread, though a $3 fee applies to those trading less than 50,000 units per month. Saxo earns a 5-star rating in this category and ranks #9 out of 62 brokers according to ForexBrokers.com.
Xtrade, on the other hand, does not provide detailed average spread data, making a direct comparison more challenging. However, based on available information, Xtrade's commission and fee structure paints a less favorable picture than Saxo's. Earning only a 2.5-star rating and ranking last at #62 among 62 brokers reviewed by ForexBrokers.com, Xtrade falls behind Saxo in terms of pricing competitiveness, which might be a vital consideration for traders prioritizing low-cost trading environments.
In summary, while Saxo stands out as a cost-effective choice for those with larger trading volumes or account balances, Xtrade may not offer the same value in terms of commissions and fees, as reflected in its lower ratings and ranking. Saxo's structured account options also provide flexibility for traders looking to minimize costs through loyalty programs and account upgrades, a feature that appears to be less emphasized by Xtrade.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| 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 | 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.
When comparing the range of investments offered by Saxo and Xtrade, Saxo emerges as a more versatile platform for traders. Saxo provides access to forex trading as both CFDs and spot contracts, with an impressive offering of 70,000 tradeable symbols and 190 forex pairs. In contrast, Xtrade also offers forex trading via CFDs but has only 482 tradeable symbols and 56 forex pairs. Furthermore, Saxo allows clients to invest directly in U.S. and international exchange-traded securities, such as Apple shares on NASDAQ and Vodafone shares on the London Stock Exchange, whereas Xtrade does not provide this option, limiting its offerings to CFDs.
Both Saxo and Xtrade offer cryptocurrency derivatives without the option to buy actual cryptocurrencies. While Xtrade does not support copy trading, Saxo includes this feature in its suite of options. Due to its extensive range and flexibility, Saxo has earned a 5-star rating and ranks 3rd out of 62 brokers in the Range of Investments category according to ForexBrokers.com. Xtrade, on the other hand, is rated 3.5 stars and ranks 49th in the same category, highlighting its more limited investment offerings. Saxo, therefore, presents a more comprehensive platform for investors seeking diverse trading opportunities.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 482 |
| Forex Pairs (Total) | 190 | 56 |
| 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 Saxo and Xtrade, both platforms offer traders the opportunity for simulated trading through free virtual demo accounts. They each have developed their own proprietary platforms, catering to users looking for in-house solutions. Saxo provides a more versatile trading environment with options for a Windows-based desktop download, unlike Xtrade, which concentrates on its web-based platform. While neither broker supports MetaTrader 4 or 5, Saxo distinguishes itself with copy trading capabilities, a feature Xtrade lacks entirely.
In terms of charting tools, Xtrade offers a broad range with 100 drawing tools, overshadowing Saxo's 20. Yet, Saxo's platform allows for more comprehensive monitoring with watch lists comprised of up to 60 columns compared to Xtrade's 9. Both brokers facilitate trading directly from stock charts, enhancing user experience. Ultimately, Saxo is highly acclaimed with a 5-star rating for its trading platforms and tools, earning the top rank among 62 brokers on ForexBrokers.com. Meanwhile, Xtrade scores 3.5 stars, placing it towards the bottom of the list at #58, indicating Saxo as the preferred choice for those prioritizing advanced trading tools and features.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| 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 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Saxo and Xtrade offer options for iOS and Android users. However, Saxo takes the lead with several advanced features that enhance the trading experience. Saxo’s app provides stock and forex price alerts, which are not available with Xtrade. Additionally, Saxo supports watchlist symbol syncing, meaning any changes made in your watchlist on the app will sync seamlessly with your online account. In contrast, Xtrade does not offer this functionality.
Saxo also excels in charting capabilities, offering 64 technical studies and features like drawing trendlines, multiple time frame views, and auto-saving of drawings. Xtrade, on the other hand, lacks these functionalities. Furthermore, Saxo allows users to create watchlists with real-time quotes, a feature absent in Xtrade's app. These comprehensive capabilities contribute to Saxo's 5-star rating for mobile trading apps, ranking it 2nd out of 62 brokers according to ForexBrokers.com. Xtrade, while providing basic app functionalities, holds a 4-star rating and ranks at 53, making Saxo the preferred choice for traders seeking a feature-rich mobile trading experience.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When evaluating Saxo and Xtrade for market research capabilities, both platforms provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. While they are similar in these aspects, Saxo stands out by offering additional research tools, including technical analysis from Autochartist and sentiment-based trading insights. In contrast, Xtrade does not offer these features. Both lack tools from Trading Central and Acuity Trading, as well as market research from TipRanks. However, each provides an economic calendar to keep users informed of global economic events.
Saxo's comprehensive offering earns it a full 5-star rating for research, ranking it first among 62 brokers, according to ForexBrokers.com. Meanwhile, Xtrade receives a 3.5-star rating, placing it at number 52. This difference highlights Saxo's superior market research tools and capabilities, making it a more prominent choice for traders prioritizing high-quality market insights and analysis.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| 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 offers an impressive array of options designed to help new traders learn about forex and CFDs. They provide over ten educational pieces that include articles, videos, and archived webinars. Saxo also offers monthly online educational webinars and maintains a searchable archive for past webinars, making it easy for traders to revisit topics of interest. Additionally, they have at least ten beginner-friendly videos and ten advanced videos for those looking to deepen their knowledge. To further aid beginners, Saxo offers an investor dictionary with over 50 investing terms. With these resources, Saxo earns a 5-star rating for education and ranks 13th out of 62 brokers in this category according to ForexBrokers.com.
In contrast, Xtrade also provides more than ten educational pieces focusing on forex and CFDs, but does not offer monthly webinars or a searchable archive of past webinars, which limits ongoing engagement opportunities for learners. Their resources for beginners are not as extensive, lacking the ten educational videos specifically designed for newcomers. However, they do offer an investor dictionary similar to Saxo's, with definitions of over 50 investing terms. With these offerings, Xtrade receives a 3.5-star rating for education and ranks 46th out of 62 brokers, as per ForexBrokers.com. Overall, while Xtrade provides some valuable educational content, Saxo stands out for its comprehensive approach to equipping new traders with the knowledge they need.
| Feature |
Saxo
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 | 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 Xtrade. Saxo finished with an overall rank of #3, while Xtrade finished with an overall rank of #59.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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Both Saxo and Xtrade do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
When comparing online brokers Saxo and Xtrade, it's noteworthy that neither offers ACH or SEPA transfers nor PayPal for transactions, but both facilitate Visa, Mastercard, and bank wire deposits and withdrawals, with Xtrade additionally supporting Skrill.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
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| Regulation | Saxo | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1992 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 482 | |
| Forex Pairs (Total) | 190 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 60 | 9 | |
| Charting - Indicators / Studies (Total) | 64 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Saxo | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Saxo | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Yes |
| Major Forex Pairs | Saxo | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Saxo | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Saxo Review | Xtrade Review |
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