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Saxo Bank vs Plus500 2021

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Saxo Bank and Plus500 are leading online brokers in 2021 with excellent trading experiences. Saxo Bank offers superior market research and a reliable mobile app. It has a transparent fee structure and provides VIP discounts. Saxo Bank has top-tier licenses from ASIC, SFC, FSA, MAS, FINMA, and FCA. We recommend it for traders of all levels of experience. 

Broker NameSaxo Bank Plus500
Year Founded19922008
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)FCA, ASIC, CySEC, FSCA, FMA, MAS, FSA
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)Forex, Commodities, Individual shares, ETFs, Options, Cryptocurrencies.
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$100
Min Trade$0$0
PlatformsSaxoTraderGOWeb, Mobile
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge

Plus500 offers several funding options and a minimum deposit fee of US$100. It has licenses from ASIC, MAS, and FCA. We recommend it for experienced traders because of its limited educational tools. 

Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and Plus500. 

Top findings from the Saxo Bank vs. Plus500 review:  

  1. Saxo Bank is a safe broker with several top-tier licenses and 170 currency pairs, and 9000 available CFDs. 
  1. Plus500 is a secure broker with a presence on a stock exchange and a transparent fee structure. 
  1. Both brokers offer access to virtual trading, a demo account to test their offering. 

We recommend Saxo Bank for experienced and inexperienced traders because of its resources. Plus500 is an excellent choice for experienced traders as it has limited educational and research tools. 

Level of experience  

Beginner traders prefer Saxo Bank over Plus500. Saxo Bank offers a diverse range of educational tools, including forex and CFD education. This broker has webinars, beginner trading videos, and advanced trading videos. Saxo Bank is a good choice for both beginners and experts because of the reliable investor dictionary. 

Plus500 offers no educational materials, being a better choice for experienced traders. It has an economic calendar and some mobile trading tools. 

Fees  

Saxo Bank has a high initial deposit of US$10,000, while Plus500 has a fee of US$100. Saxo Bank offers an active trader discount on trades, while Plus500 doesn’t. Both brokers have a transparent fee structure. 

Assets  

Both brokers have a comprehensive forex offering with access to major forex pairs, including GBP/USD and EUR/USD. Saxo Bank has 170 currency pairs, while Plus500 has 50. Saxo Bank offers 9000 CFDs, while Plus500 has 2033 available CFDs. 

Trading platform 

Saxo Bank has a proprietary platform, a desktop, and a web platform. It offers access to MetaTrader4 and social trading tools. This broker has a virtual trading account, charting tools, and watch lists. Saxo Bank is the better choice for traders searching for an excellent mobile trading experience. It offers watch list synchronization, many charting tools, and a forex calendar. Saxo Bank is an excellent choice for traders of all levels of experience. 

Plus500 has a proprietary platform, a desktop, and a web platform. It doesn’t offer social trading, and its tools are limited when compared to Saxo Bank. Plus500 has a reliable mobile app with standard alerts and watch lists. Its platforms are challenging for beginners. 

Banking services  

Banking services offer advantages to traders of all levels of experience. Saxo Bank is a fully licensed and regulated bank. It offers bank wire and credit/debit card funding options. Plus500 has a presence on London’s stock exchange. It offers several funding options, including bank transfers, credit/debit cards, PayPal, and Skrill. 

Final verdict  

Saxo Bank and Plus500 are the leading online brokers in 2021. Both have advantages and disadvantages depending on your trading experience. We recommend Saxo Bank to traders of all levels of experience because of its trustworthy platforms and professional tools. Plus500 is a better choice for professional traders because of its limited research and educational tools. 

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