Saxo Bank and CMC Markets are top online brokers with excellent trading experiences. Saxo Bank offers premium services and trading platforms. It has transparent fees and top-tier trading tools. Saxo Bank has licenses from the ASIC, FSA, SFC, MAS, FCA, and FINMA. It is a top choice for active traders of all levels of experience.
| Broker Name | Saxo Bank | CMC Markets |
| Year Founded | 1992 | 1989 |
| Regulation | FCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan) | FCA, FSCS |
| Tradable Assets | 40,000 instruments, forex, spot FX, FX options, NDFs) CFDs, stocks, stock options, ETFs, ETNs, futures, and 33,000 bonds (available only via phone) | Forex, CFD |
| Min Deposit | $10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts | $0 |
| Min Trade | $0 | $0 |
| Platforms | SaxoTraderGO | Next Generation (desktop), Mobile |
| Deposit | Free of charge | Free of charge |
| Withdrawals | Free of charge | Free of charge |
CMC Markets is an online forex broker with licenses from the IIROC, MAS, FCA, and ASIC. It offers an active trader discount to professional traders. CMC Markets is a good fit for new traders as it has powerful learning tools.
Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and CMC Markets.
Top findings from the Saxo Bank vs. CMC Markets review:
- Saxo Bank provides premium trading services with professional platforms and social trading tools.
- CMC Markets has a versatile assets portfolio and a reliable learning center for beginners.
- Both brokers offer a virtual trading account and 9,000+ CFDs.
We recommend Saxo Bank for experienced investors because of its premium services. CMC Markets is the better choice for new traders, as it has comprehensive learning and research tools.
Overall Rating
Level of experience
Professional traders choose Saxo Bank as it has premium trading platforms and tools. It offers professional trading videos and advanced research tools. Saxo Bank has some beginner-friendly tools, including forex education and training videos.
CMC Markets has market data from third-party sources, including Morningstar. It has in-house analysts who provide insights through its web interface. CMC Markets is a top choice for new traders. It has many learning tools, including real-time news, webinars, and forex education.
Fees
Saxo Bank has a minimum initial deposit of US$10,000, while CMC Markets doesn’t charge an initial deposit fee. The average EUR/USD spread at Saxo Bank is 0.8, while at CMC Markets is 0.74.
Assets
Saxo Bank has 170 forex currency pairs, while CMC Markets has 158 available pairs. CMC Markets offers 9852 CFDs, while Saxo Bank has 9000 available CFDs.
Trading platform
Saxo Bank has an impressive portfolio with premium desktop, web, and mobile trading platforms. It has a demo account and excellent research tools. Saxo Bank is a popular broker because of its impressive social trading services. We recommend it for active traders of all levels of experience.
CMC Markets offers a proprietary trading platform, Next Generation, and MetaTrader4. Its proprietary platforms are user-friendly and secure. Beginners receive news and research integration. CMC Markets provides many learning tools, including beginner tutorials and forex education.
Banking services
Banking services are essential for an excellent online trading experience. Saxo Bank offers bank wire and credit/debit card funding options. CMC Markets offers bank wire, credit/debit cards, and PayPal.
Final verdict
Saxo Bank and CMC Markets are the top online brokers. Both have advantages and disadvantages depending on your trading experience and style. We recommend Saxo Bank to active traders looking for premium services and discounts. CMC Markets is a better choice for new traders, as it has many learning and research tools.
Saxo Bank compared to other brokers:
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- Saxo Bank vs CMC Markets
- Saxo Bank vs Tickmill
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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.
