Home Brokers comparison Saxo Bank vs. FxPro

Saxo Bank vs. FxPro

34
0
Regal Wallet Banner

Saxo Bank and FxPro are leading online brokers with impressive online experiences. Saxo Bank has VIP services and tools. It offers a transparent fee structure and an active trader discount. Saxo Bank has licenses from the ASIC, FCA, SFC, FSA, MAS, and FINMA. It is a top choice for traders of all levels of experience. 

Broker NameSaxo Bank FxPro
Year Founded19922006
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)
DFSA, FSCA, SBC, FCA, and the CySEC
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)cryptocurrencies, futures, commodities, 70+ Forex pairs, 150+ equity shares, stock indices
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$100
Min Trade$0$1,000 (recommended) can fund $100 each time
PlatformsSaxoTraderGOFxPro Edge, (Proprietary), MetaTrader, cTrader
DepositFree of charge$100
WithdrawalsFree of charge$100

FxPro is a MetaTrader broker offering both MT4 and MT5 platforms. It has many account tiers, execution methods, and benefits. FxPro has an excellent learning center with written content and videos. It is an excellent fit for traders of all levels of experience who want to improve their trading knowledge. 

This article discusses the strengths and weaknesses of Saxo Bank and FxPro. 

Top findings from the Saxo Bank vs. FxPro review:  

  1. Saxo Bank is a safe online broker with social trading tools and professional services. 
  1. FxPro is a low-risk broker with access to the MetaTrader suite and a dedicated learning center. 
  1. Both brokers offer a demo account to test their offering. 

Saxo Bank is a top choice for active traders looking for premium tools and social trading. New traders choose FxPro because of its comprehensive learning materials. 

Overall Rating

FeatureSaxo BankFXPro
Overall54
Commissions & Fees53.5
Offering of Investments53.5
Platforms & Tools54
Mobile Trading54
Research53.5
Education44
Trust Score9989
WinnerYES
66% of retail CFD accounts lose money77.37% of retail CFD accounts lose money

Level of experience  

Expert traders opt for Saxo Bank as it has premium account tiers, powerful platforms, and advanced tools. It has expert trading videos for professional investors. Saxo Bank has beginner-friendly tools, including forex education. 

FxPro has a reliable learning center with beginner trading videos, forex education, and webinars. It offers insights from education leaders, including IG and FXCM. FxPro is an excellent choice for all traders who want to improve their trading skills and knowledge.   

Fees  

Saxo Bank has a minimum deposit fee of US$10,000, while FxPro charges $100. The average EUR/USD spread at Saxo Bank is 0.6, while at FxPro is 1.27. Both brokers offer an active trader discount. 

Assets  

Saxo Bank has 170 forex currency pairs, while FxPro has 70 available pairs. Saxo Bank provides 9000 CFDs, while FxPro has 187 available CFDs. 

Trading platform  

Saxo Bank has a premium portfolio with a web, desktop, and mobile trading platform. It offers a virtual trading account and professional research tools. Saxo Bank has social trading services and access to the MT4 suite. We recommend it for professional traders. 

FxPro has a proprietary web platform, FxPro Edge, and access to MetaTrader and cTrader. It offers a demo account, reliable social trading tools, and learning materials. FxPro is a good choice for both beginner and experienced traders. 

Banking services  

Banking services are important in online trading. Saxo Bank offers bank transfers and credit/debit cards as funding options. FxPro has bank transfers, credit/debit cards, PayPal, and Skrill. 

Final verdict  

Saxo Bank and FxPro are leading online brokers. Both have advantages and disadvantages depending on your trading style and experience. Saxo Bank is a better fit for professionals and active traders. We recommend FxPro to all traders as it has both professional and beginner-friendly tools. 


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. FXCM
Next articleSaxo Bank vs. FP Markets
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