Saxo Bank and FP Markets are leading online brokers with top-tier licenses. Saxo Bank offers an impressive trading platform and market analysis. It has a transparent fee policy and active trading discounts. Saxo Bank is a safe broker with six top-tier licenses from the ASIC, FCA, SFC, FSA, MAS, and FINMA. We recommend it for active traders searching for premium services.
| Broker Name | Saxo Bank | FP Markets |
| Year Founded | 1992 | 2015 |
| Regulation | FCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan) | ASIC |
| 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, CFDs |
| Min Deposit | $10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts | AUD 100 |
| Min Trade | $0 | $0 |
| Platforms | SaxoTraderGO | Iress, MT4, MT5 |
| Deposit | Free of charge | Free of charge |
| Withdrawals | Free of charge | Free of charge |
FP Markets is a MetaTrader broker with competitive fees. It has one top-tier license from the ASIC and is not on a stock exchange. FP Markets has many educational tools, including beginner trading videos. We recommend it for beginning traders who want to improve their trading knowledge.
Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and FP Markets.
Top findings from the Saxo Bank vs. FP Markets review:
- Saxo Bank offers VIP services, tools, and trading platforms.
- FP Markets has competitive spreads and valuable educational tools.
- Both online brokers provide a virtual trading account for traders to test their offering.
Saxo Bank is a good choice for professional traders, as it has limited educational tools. We recommend FP Markets to all traders hat want access to useful trading information.
Overall Rating
Level of experience
Saxo Bank offers excellent professional tools and some educational data. It has webinars, tutorials, professional consultation, and advanced research data. Saxo Bank is a top choice for experienced traders.
FP Markets offers versatile tools for both beginner and experienced traders. It has access to the MetaTrader suite and a virtual trading account. FP Markets has a dedicated learning center with forex education and beginner trading videos.
Fees
Saxo Bank has a high minimum initial deposit of US$10,000, while FP Markets charges $100 AUD. The average EUR/USD spread at Saxo Bank is 0.8, while at FP Markets is 1.14.
Assets
Saxo Bank has 170 forex currency pairs, while FP Markets has 61 available pairs. Saxo Bank provides access to 9000 CFDs, while FP Markets has 8908 available CFDs.
Trading platform
Saxo Bank has a comprehensive offer with desktop, web, and mobile trading platforms. These come with a demo account, charting tools, and watch lists. Saxo Bank offers social trading and MetaTrader4. We recommend it for active traders of all levels of experience.
FP Markets uses the entire MetaTrader suite. It offers competitive pricing and reliable learning tools. FP Markets is a top choice for both new traders and professional investors. It has many training tools, including charting and advanced trading videos.
Banking services
Banking services are essential for an excellent online trading experience. Saxo Bank offers bank wire and credit/debit card funding options. FP Markets has bank wire, credit/debit cards, PayPal and Skrill.
Final verdict
Saxo Bank and FP Markets are leading online brokers. Both have advantages and disadvantages, depending on your trading skills and needs. We recommend Saxo Bank for professional investors, as it has excellent tools and limited educational materials. FP Markets is a better choice for traders looking to improve their trading knowledge.
Saxo Bank compared to other brokers:
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- Saxo Bank vs IC Markets
- Saxo Bank vs TD Ameritrade
- Saxo Bank vs CMC Markets
- Saxo Bank vs Tickmill
- Saxo Bank vs IG
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- Saxo Bank vs Swissquote
- Saxo Bank vs Fp Markets
- Saxo Bank vs Fx Pro
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- Saxo Bank App
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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.
