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|
|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|
|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.
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.
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.
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.
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 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.
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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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.