Home Brokers comparison Saxo Bank vs AvaTrade

Saxo Bank vs AvaTrade

63
0
Regal Wallet Banner

Saxo Bank and AvaTrade are the leading online brokers. Saxo Bank has premium services, trading platforms, and research materials. It offers a transparent fee structure and top-tier trading tools. Saxo Bank is highly regulated with licenses from the ASIC, SFC, FSA, MAS, FINMA, and FCA. It is a top choice for active traders of all levels of experience. 

Broker NameSaxo Bank AvaTrade
Year Founded19922006
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)ASIC, ADGM, CySEC, ISA
Tradable Assets40,000 instruments, forex, spot FX, FX options, NDFs) CFDs, stocks, stock options, ETFs, ETNs, futures, and 33,000 bonds (available only via phone)Stock CFDs, Forex, Indices CFDs, ETF CFDs, Commodities, Crypto
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$100
Min Trade$0$100
PlatformsSaxoTraderGOiOS, Android, Windows, and MacOS
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge

AvaTrade has the best overall offer with low spreads and trading fees. It offers a comprehensive educational and research site with free courses, videos, and market data. AvaTrade has top-tier licenses from ASIC, IIROC, and FSA. It is a good choice for beginner traders because of its user-friendly platforms and fee structure. 

Both online brokers have advantages and disadvantages. This article discusses the differences between Saxo Bank and AvaTrade. 

Top findings from the Saxo Bank vs. AvaTrade review:  

  1. Saxo Bank offers premium trading services with excellent platforms, educational tools, and social trading features. 
  1. AvaTrade has impressive learning tools and easy-to-understand platforms. 
  1. Both brokers offer demo accounts and active trading discounts. 

We recommend Saxo Bank for experienced traders because of its excellent social trading tools and premium services. AvaTrade is the better choice for inexperienced traders because of its comprehensive learning site. 

Overall Rating

FeatureSaxo BankAvaTrade
Overall54
Commissions & Fees54.5
Offering of Investments54
Platforms & Tools54
Mobile Trading54
Research53.5
Education44.5
Trust Score9993
WinnerYES
66% of retail CFD accounts lose money73% of retail CFD accounts lose money

Level of experience  

Professional traders prefer Saxo Bank because of its premium trading platforms and tools. It offers advanced trading videos and many research tools. Saxo Bank has beginner-friendly tools, including webinars, forex education, and training videos. 

AvaTrade has many trading platforms aimed at traders of all levels of trading experience and skills. It has a straightforward proprietary platform with useful learning tools. It is the preferred choice for beginner traders. 

Fees  

Saxo Bank has a high minimum deposit fee of US$10,000, while AvaTrade has an initial deposit of US$100. Both brokers offer discounts for active traders and follow a transparent fee policy. 

Assets  

Saxo Bank has a comprehensive portfolio including stocks, bonds, options, futures, CFDs, and 170 forex pairs. AvaTrade offers cryptocurrencies, options, and 55 forex pairs. The average EUR/USD spread at Saxo Bank is 0.8, while at AvaTrade is 0.91. 

Trading platform  

Saxo Bank has an impressive portfolio with premium desktop, web, and mobile trading platforms. It offers a demo account, excellent research, and educational tools. Saxo Bank is popular because of its impressive social trading services and access to MetaTrader4. We recommend it for active traders of all levels of experience. 

AvaTrade has a straightforward desktop, web, and mobile platform. It offers both MetaTrader4 and 5 and social trading services. Each platform comes with reliable research, education, and market data. We recommend it for inexperienced traders. 

Banking services 

Banking services are an important component of online trading experiences. Saxo Bank offers credit/debit cards and bank transfers. AvaTrade has bank wire, credit/debit card, PayPal, and Skrill funding solutions. 

Final verdict  

Saxo Bank and AvaTrade are leading online brokers. Both have strengths and weaknesses, depending on your trading experience. We recommend Saxo Bank to active traders looking for premium trading solutions. AvaTrade is a better fit for new traders because of its user-friendly platform, quality learning tools, and low minimum deposit. 

Saxo Bank compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleSaxo Bank vs. Vantage FX
Next articleSaxo Bank vs Pepperstone
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here