Home Brokers comparison Saxo Bank vs. Tickmill

Saxo Bank vs. Tickmill

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Saxo Bank and Tickmill are leading online brokers with outstanding online experiences. Saxo Bank offers premium services, tools, and trading platforms. It has a transparent fee structure and an active trader discount. Saxo Bank has top-tier licenses from the ASIC, SFC, FCA, FSA, MAS, and FINMA. It is a top choice for active traders of all levels of experience. 

Broker NameSaxo Bank Tickmill
Year Founded19922014
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)FCA, CySEC
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)CFDs, Forex
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$100
Min Trade$0$0
PlatformsSaxoTraderGOWeb, Mobile, Desktop
DepositFree of charge$100
WithdrawalsFree of charge$0

Tickmill is a MetaTrader broker with competitive prices for professionals and an FCA license. It has copy trading tools and excellent market data. Tickmill’s educational tools are better than the industry average. We recommend it for traders of all levels of experience. 

Both brokerage firms have advantages and disadvantages. This article discusses the differences between Saxo Bank and Tickmill. 

Top findings from the Saxo Bank vs. Tickmill review:  

  1. Saxo Bank is a leading online broker with premium services and social trading tools. 
  1. Tickmill is a leading MetaTrader-only broker popular with high-balance traders. 
  1. Both brokers offer an active trader discount and a demo account. 

Saxo Bank is a top choice for traders of all levels of experience as it has social trading and premium tools. New traders choose Tickmill because of its comprehensive learning materials. 

Overall Rating

FeatureSaxo BankTickmill
Overall54
Commissions & Fees55
Offering of Investments53
Platforms & Tools53
Mobile Trading53
Research54
Education44
Trust Score9981
WinnerYES
66% of retail CFD accounts lose money76% of retail CFD accounts lose money

Level of experience  

Professional traders choose Saxo Bank because of its premium account tiers and trading tools. It offers advanced trading videos for experienced investors. Saxo Bank has beginner-friendly tools, including webinars and forex education. Saxo Bank caters to high-end traders. 

Tickmill provides valuable educational data, including beginner trading videos and webinars. It has copy trading tools useful for traders of all levels of experience. Tickmill’s primary client base is beginner and intermediate traders. 

Fees  

The minimum initial deposit at Saxo Bank is US$10,000, while at Tickmill is $100. The average EUR/USD spread at Saxo Bank is 0.8, while at Tickmill is 0.53. 

Assets  

Saxo Bank offers 170 forex currency pairs, while Tickmill has 62 available pairs. Saxo Bank has 9000 CFDs, while Tickmill has 13 available CFDs. 

Trading platform  

Saxo Bank has an excellent portfolio with desktop, web, and mobile trading platforms. It has a virtual trading account and premium research tools. Saxo Bank has excellent social trading services and access to MT4. We recommend it for active traders of all levels of experience. 

Tickmill offers the MT4 suite with a desktop and web platform. It has copy trading tools, ZuluTrade, and many research tools. It is an excellent choice for beginners, as it has a wide range of educational resources and top-tier market data. 

Banking services  

Banking services contribute to a smooth online trading experience. Saxo Bank offers bank transfers and credit/debit card transfers. Tickmill has bank transfers, credit/debit cards, and Skrill funding. 

Final verdict  

Saxo Bank and Tickmill are leading online brokers with excellent services. Both have strengths and weaknesses, depending on your trading needs and experiences. Saxo Bank is a top choice for active traders looking for professional tools. We recommend Tickmill for new investors, as it has robust learning 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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