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 Name||Saxo Bank||TD Ameritrade|
|Regulation||FCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)||SEC, CFTC, FINRA|
|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)||Futures, Bond, Fund, Forex, Stock, ETF, Options|
|Min Deposit||$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts||$0|
|Platforms||SaxoTraderGO||iOS and Android|
|Deposit||Free of charge||Free for US residents, wire transfer for non US|
|Withdrawals||Free of charge||Free 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:
- Saxo Bank is a safe, professional broker with a premium trading experience.
- TD Ameritrade is a top-tier online broker with an impressive learning center.
- 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.
|Feature||Saxo Bank||TD Ameritrade|
|Commissions & Fees||5||3.5|
|Offering of Investments||5||4.5|
|Platforms & Tools||5||4.5|
|66% of retail CFD accounts lose money||N/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.
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.
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.
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 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.
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.
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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.