Saxo Bank vs. FXCM

Page Summary

Saxo Bank and FXCM are leading forex brokers. Saxo Bank has excellent premium services and trading platforms. It has a transparent fee structure and top-tier tools. Saxo Bank is a safe broker with licenses from the FSA, ASIC, SFC, MAS, FCA, and FINMA. It is a top choice for active traders of all levels of experience. 

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Compare brokers
Saxo

Saxo Bank

Open account Read review

69% of retail investor accounts lose money when trading CFDs with this provider.

FXCM logo

FXCM

Open account Read review

63% or 74% of retail CFD accounts lose money

BROKER COMPARISON

Saxo
FXCM logo

Overall rating

4,9/5

4,0/5

Overall rating

4,9/5

4,0/5

Trading Platform & Tools

4.9

4.7

See details
Automated Trading
Charting Tools
Conditional Orders
cTrader
Demo Account
Desktop Platform
Max Leverage 1:20 1:400
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Mobile Version
Mutual Fund Management
Proprietary Platform
Social/Copy Trading
Trading Alerts
Trading signals
Watchlist
Web Version

Fees

4.7

3.4

See details
Withdrawal Fee 0 $40
Deposit Fee 0 0
Inactivity Fee $100 / 6months $50 per year after 12 months
Cost Per Trade 0 0
Cost Per Month 0 0
Forex (EUR/USD) 1 0.2 pips
Stocks & ETF $1 0
CFD (Gold) $0.60 0.5 pips
Crypto 0 0
Options $1.25 0
Conversion Fees 0,75% 0
Misc. Fees 0 0
Overnight Fees

Mobile Trading

5.0

5.0

See details
Android
Apple
Watchlist
Econ. Calendar
Charting Tools

Deposit & Withdrawal

4.7

2.5

See details
Minimum deposit (in UAE) $2000 $300
Bank Wire
Credit/Debit Card
Cash
Check
Islamic Account Transfer
E-payments
Paypal
Skrill
Neteller

Assets

4.9

2.0

See details
Shares 30.000 0
ETF & Funds 5.800 0
Crypto 9 0
Commodities 0 0
Indices 0 0
Options 3.000 0
Futures 300 0
Bonds 4.200 0
Forex 200 45
CFD Indices & Funds 50 15
CFD Stocks 19.000 219
CFD Commodities 50 12
CFD Crypto 0 7
CFD Bonds 0 1
Binary Options 0 0
SWAPS 0 0
Saving Plans 0 0

Regulation

5.0

5.0

See details
Tier 1 License
Tier 2 License
Tier 3 License

Research & Education

4.8

5.0

See details
Webinars
Educational Resources
Daily News Updates
Market Indepth Analysis
Pers. Training & Room
Market Research

Customer Support

4.9

4.5

See details
Email
Phone
Live Chat
24/7 support
Multilingual
Personal Account Manager

Winner

FXCM is one of the leading forex brokers with professional trading tools. This broker has a reliable education portal with tutorials and forex education topics. FXCM has professional research tools and access to MT4. It has top-tier licenses from the ASIC, IIROC, and FCA. We recommend it for both beginner and experienced traders as it has a versatile portfolio. 

Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and FXCM. 

Top findings from the Saxo Bank vs. FXCM review:  

  1. Saxo Bank offers a premium trading experience with professional platforms and social trading tools. 
  2. FXCM offers multiple desktop interfaces, APIs, and social trading features. 
  3. Both brokers offer an active trader discount and a demo account. 

Saxo Bank is a top choice for experienced traders, as it has limited learning tools. We recommend FXCM to traders of all levels of experience, as it has reliable research and educational tools. 

Level of experience  

Professional traders choose Saxo Bank as it offers top-tier tools and platforms. It has access to professional trading videos and advanced research. Saxo Bank has some beginner-friendly tools, including forex education. 

FXCM has many platform choices created to match different trading styles. It has an educational portal for new traders and some research tools. FXCM offers forex education, webinars, and beginner and advanced trading videos. It is a top choice for beginners and forex traders. 

Fees  

Saxo Bank has a minimum deposit fee of $10,000, while FXCM starts from $50-£300. The average EUR/USD spread at Saxo Bank is 0.8, while at FXCM is 1.4. 

Assets  

Saxo Bank has 170 forex currency pairs, while FXCM has 39 available pairs. Saxo Bank provides access to 9000 CFDs, while FXCM has 82 available CFDs. 

Trading platform  

Saxo Bank offers premium web, desktop, and mobile trading platforms. It has a virtual trading account and reliable research tools. Saxo Bank is a top choice for active traders looking for social trading services. This broker offers research tools, including social sentiment. 

FXCM offers a proprietary platform, Trading Station, and MetaTrader4. It offers technical indicators and advanced tools. FXCM is a top choice for new traders, as it has a dedicated learning center. It offers access to third-party market data and daily technical levels. 

Banking services  

Banking services contribute to an excellent online trading experience. Saxo Bank offers bank wire and credit/debit cards as funding options. FXCM has bank wire, credit/debit cards, and Skrill. 

Final verdict  

Saxo Bank and FXCM are leading forex brokers. Both have advantages and disadvantages depending on your trading style and experience. Saxo Bank is a good fit for active traders, as it has professional tools and platforms. We recommend FXCM for new traders because of its research and learning tools. 

Saxo Bank compared to other brokers:

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