Home Brokers comparison Saxo Bank vs. Swissquote

Saxo Bank vs. Swissquote

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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 NameSaxo Bank Swissquote
Year Founded19921996
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)SFC (Hong Kong), MAS (Singapore), FINMA (Suisse), FCA (UK)
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)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
Min Trade$0$0
PlatformsSaxoTraderGOAdvanced Trader (proprietary), MT4 suite, MT5 trading suite
DepositFree of charge$1,000
WithdrawalsFree 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:  

  1. Saxo Bank has premium services and social trading features. 
  1. Swissquote has different account tiers and learning materials. 
  1. 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. 

Overall Rating

FeatureSaxo BankSwissquote
Overall54
Commissions & Fees53.5
Offering of Investments54.5
Platforms & Tools54
Mobile Trading54
Research54
Education43.5
Trust Score9999
WinnerYES
66% of retail CFD accounts lose money79% 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. 

Fees  

Saxo Bank has an initial deposit fee of US$10,000, while Swissquote charges $1,000. Both brokers offer an active trader discount. 

Assets  

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. 

Trading platform  

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  

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. 

Final verdict  

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. 


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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