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Saxo Bank vs Pepperstone

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Saxo Bank and Pepperstone are leading online brokers with top-tier licenses. Saxo Bank has an impressive trading platform and market research data. It offers a transparent fee structure and active trading discounts. Saxo Bank has licenses from ASIC, SFC, FSA, MAS, FINMA, and FCA. We recommend it for traders of all levels of experience. 

Broker NameSaxo Bank Pepperstone
Year Founded19922010
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)ASIC, FCA, DFSA
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)Indices, Shares Forex, Commodities, cryptocurrencies, CFDs
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accountsAUD $200
Min Trade$0AUD $1
PlatformsSaxoTraderGOiOS, Android, Windows and MacOS
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge

Pepperstone is a trustworthy forex and CFD broker with great customer support and account opening processes. It has licenses from the FCA, ASIC, and DFSA. We recommend it for traders at all levels, from casual to professional. 

Both online brokers have advantages and disadvantages. This article discusses the differences between Pepperstone and Robinhood. 

Top findings from the Saxo Bank vs. Pepperstone review:  

  1. Saxo Bank has competitive pricing and trading platforms with access to social trading features. 
  1. Pepperstone is a safe broker with many tradable assets and easy-to-understand platforms. 
  1. Both brokers offer a demo account and social trading features. 

We recommend Saxo Bank to all traders that want to access reliable trading information. However, Pepperstone is a better choice for beginner traders because of its several research and educational tools. 

Overall Rating

FeatureSaxo BankPepperstone
Overall54
Commissions & Fees54
Offering of Investments53.5
Platforms & Tools54
Mobile Trading54
Research54
Education44
Trust Score9992
WinnerYES
66% of retail CFD accounts lose moneyBetween 74-89% of retail CFD accounts lose money

Level of experience  

Both brokers offer useful tools for beginner traders. Saxo Bank has diverse educational and market data, which is why advanced traders prefer it. This broker offers webinars, tutorials, and advanced research data. 

Pepperstone is a leading provider of educational features and materials, including trading guides and videos. Its platforms are simple to understand, which is why it’s a good choice for inexperienced traders. 

Fees  

Saxo Bank has a minimum deposit fee of US$10,000, while Pepperstone charges only US$200. The average EUR/USD spread with Saxo Bank is 0.8 pips, while with Pepperstone is 0.75 pips. Both brokers offer active trading discounts. 

Assets  

Saxo Bank offers 170 currency pairs, while Pepperstone has 61 available pairs. Saxo Bank has 9000 CFDs, while Pepperstone has 127. Saxo Bank has a limited asset offering. Pepperstone has a comprehensive portfolio, including indices, shares, forex, mutual funds, cryptocurrencies, commodities, and CFDs. 

Trading platform  

Saxo Bank offers access to desktop, web, and mobile trading platforms. These come with a virtual trading account, watch lists, and charting tools. Saxo Bank has MetaTrader4 and social trading. It is a good choice for both experienced and beginner traders. 

Pepperstone offers a broad range of desktop and web trading platforms, including the MetaTrader suite. These come with excellent learning tools, including copy trading and cTrader. It is an excellent choice for beginner traders. 

Banking services  

Banking services are useful to traders of all levels of experience. Saxo Bank offers bank transfers and credit/debit cards. Pepperstone has a comprehensive offer with bank transfers, credit/debit, PayPal, and Skrill. 

Final verdict  

Saxo Bank and Pepperstone are the leading online brokers. Both have strengths and weaknesses depending on your trading experience and needs. We recommend Saxo Bank to active traders who want to use professional tools and receive VIP service. Pepperstone is a good fit for beginner traders because of its research and learning tools. 

Saxo Bank compared to other brokers:


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.

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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.

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