Saxo Bank and Swissquote are popular online brokers. Saxo Bank has premium trading platforms and research data. It follows a transparent fee structure and has top-tier trading tools. Saxo Bank has licenses from the ASIC, FSA, FINMA, MAS, SFC, and FCA. It is an excellent choice for traders of all levels of experience.
|Broker Name||Saxo Bank||Swissquote|
|Regulation||FCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)||SFC (Hong Kong), MAS (Singapore), FINMA (Suisse), FCA (UK)|
|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)||78 forex currency pairs, 17 CFD commodities, 1,500 CFD pairs, 60 CFD stock indices, and 55,000 bonds, 6 options and 6 features|
|Min Deposit||$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts||$1,000|
|Platforms||SaxoTraderGO||Advanced Trader (proprietary), MT4 suite, MT5 trading suite|
|Deposit||Free of charge||$1,000|
|Withdrawals||Free of charge||$0|
Swissquote is an online broker with a versatile portfolio. It offers many tradable assets, including cryptocurrency trading. Swissquote has a proprietary platform and access to the full MetaTrader suites. We recommend it for traders of all levels of experience as it has valuable trading tools.
Both online brokers have advantages and disadvantages. This article discusses the differences between Saxo Bank and Swissquote.
Top findings from the Saxo Bank vs. Swissquote review:
- Saxo Bank has premium services and social trading features.
- Swissquote has different account tiers and learning materials.
- Both brokers have a proprietary platform, a demo account, and active trading discounts.
We recommend Saxo Bank for experienced active traders as it has excellent social trading tools. Swissquote is a better fit for new traders because it has competitive prices and learning tools.
|Commissions & Fees||5||3.5|
|Offering of Investments||5||4.5|
|Platforms & Tools||5||4|
|66% of retail CFD accounts lose money||79% of retail CFD accounts lose money|
Level of experience
Saxo Bank has premium tools and trading platforms. It is a better choice for professionals, as it offers powerful research tools and advanced trading videos. Saxo Bank provides access to one-on-one consultation with company fund managers.
Swissquote is a top choice for inexperienced traders. It has a proprietary platform and virtual trading account. Swissquote offers an excellent trading experience for all traders.
Saxo Bank has an initial deposit fee of US$10,000, while Swissquote charges $1,000. Both brokers offer an active trader discount.
Saxo Bank has 170 forex currency pairs, while Swissquote has 78 available pairs. Saxo Bank provides access to 9000 CFDs, while Swissquote has 49 available CFDs.
Saxo Bank has a premium portfolio with a web, desktop, and mobile platform. It offers a demo account and useful research tools. Saxo Bank is a popular broker because of its social trading services. We recommend it for experienced active traders.
Swissquote has a proprietary web and desktop platform. It offers useful services, including access to the MetaTrader suite. Swissquote has valuable learning and research tools. It is a good choice for both professional and beginner traders.
Banking services contribute to an impressive online trading experience. Both brokers are listed as a bank and offer many funding options. Saxo Bank has bank transfers and credit/debit cards as its funding options. Swissquote offers bank transfers, credit/debit cards, PayPal, and Skrill.
Saxo Bank and Swissquote are popular online brokers. Both have strengths and weaknesses, depending on your trading experience. We recommend Saxo Bank to professional traders, as it has limited learning tools. Swissquote is a good choice for traders of all levels of experience.
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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.