Home Brokers comparison Saxo Bank vs. TD Ameritrade

Saxo Bank vs. TD Ameritrade

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

Broker NameSaxo Bank TD Ameritrade
Year Founded19921975
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)SEC, CFTC, FINRA
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)Futures, Bond, Fund, Forex, Stock, ETF, Options
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$0
Min Trade$0Low
PlatformsSaxoTraderGOiOS and Android
DepositFree of chargeFree for US residents, wire transfer for non US
WithdrawalsFree of chargeFree for US residents, wire transfer for non US

TD Ameritrade is the leading US-based stockbroker with a user-friendly platform. It offers competitive prices, and it has a presence on a stock exchange. It is a top choice for both beginner and experienced traders, as it has powerful learning resources and professional tools. TD Ameritrade is only available to US citizens or permanent residents. 

Both brokerage firms have strengths and weaknesses. This article discusses the differences between Saxo Bank and TD Ameritrade. 

Top findings from the Saxo Bank vs. TD Ameritrade review:  

  1. Saxo Bank is a safe, professional broker with a premium trading experience. 
  1. TD Ameritrade is a top-tier online broker with an impressive learning center. 
  1. Both brokers offer an active trader discount and a demo account. 

Saxo Bank is a top choice for active traders of all levels of experience because of its resources. TD Ameritrade is a better choice for new traders based in the USA, as it offers reliable learning tools. 

Overall Rating

FeatureSaxo BankTD Ameritrade
Overall54.5
Commissions & Fees53.5
Offering of Investments54.5
Platforms & Tools54.5
Mobile Trading54.5
Research54.5
Education44
Trust Score9998
WinnerYES
66% of retail CFD accounts lose moneyN/A of retail CFD accounts lose money

Level of experience  

Saxo Bank offers a diverse range of professional and beginner-friendly tools. It offers forex and CFD education, trading videos, and webinars. Saxo Bank is a top choice for active traders for both beginner and experienced traders. 

TD Ameritrade offers many educational tools, including Paper Trading. It has well-designed platforms and premium trading tools. TD Ameritrade is only available to traders based in the USA. 

Fees  

Saxo Bank has an initial deposit fee of US$10,000, while new accounts are free at TD Ameritrade. The average EUR/USD spread at Saxo Bank is 0.8, while at TD Ameritrade is 1.06. Both brokers have a transparent fee structure. 

Assets  

Saxo Bank offers 170 forex currency pairs, while TD Ameritrade has 73 available pairs. Saxo Bank has 9000 CFDs, while TD Ameritrade has 0 available CFDs. 

Trading platform  

Saxo Bank has proprietary platforms for web, desktop, and mobile environments. It offers MT4 and social trading tools. Saxo Bank has a virtual trading account, watch lists, and charting tools. It is a good fit for traders looking for an excellent mobile trading experience. Saxo Bank has many charting tools and a forex calendar. 

TD Ameritrade is a top choice for beginner traders. It has excellent trading platforms with a focus on learning tools. TD Ameritrade offers an excellent experience with superior market data and trading ideas. This broker offers a virtual trading account and social trading tools.   

Banking services  

Banking services are useful for traders of all levels of experience. Saxo Bank is a fully licensed and regulated bank. It offers bank wire and credit/debit card funding. TD Ameritrade has a banking history and a presence on the NASDAQ stock exchange. It allows ACH bank transfers as its funding option. 

Final verdict  

Saxo Bank and TD Ameritrade are leading online brokers. Both have strengths and weaknesses depending on your trading style and experience. Saxo Bank is a top choice for active traders, as it offers premium trading tools and platforms. We recommend TD Ameritrade to US-based beginner traders because of its reliable educational 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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