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Saxo Bank vs XTB

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Saxo Bank and XTB are the leading online brokers. Saxo Bank offers premium services, trading platforms, and educational materials. It has a transparent fee structure, and it provides active trading discounts. Saxo Bank is highly regulated, with ASIC, SFC, FSA, MAS, FINMA, and FCA. It is a good choice for traders of all levels of experience. 

Broker NameSaxo Bank XTB
Year Founded19922002
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)FCA, KNF, BaFIN, CNMV, AMF, CySEC, and FSC
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 on 3900 stocks and ETFs, 22 commodities, 42 indices, 25 cryptocurrencies, 49 forex pairs, 7800 cash equities (i.e., non-leveraged), 150 ETFs
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts250 ($, £, €)
Min Trade$00
PlatformsSaxoTraderGOxStation 5 (proprietary), MT4 (Higher spread)
DepositFree of charge100 ($, £, €) – free
WithdrawalsFree of charge100 ($, £, €) – free

XTB is the leading beginner-friendly online broker with an FCA license. It has a transparent withdrawing and depositing funds process. XTB has a straightforward trading platform and many educational tools. It is a good choice for beginner traders. 

Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and XTB. 

Top findings from the Saxo Bank vs. XTB review:  

  1. Saxo Bank has premium trading platforms with educational tools and social trading features. 
  1. XTB has useful research and educational data for inexperienced traders. 
  1. Both brokers have a demo account and active trading discounts. 

We recommend Saxo Bank for traders of all levels of experience because of its social trading tools. XTB is the best choice for beginner traders looking for a simple-to-understand trading platform. 

Overall Rating

FeatureSaxo BankXTB
Overall54.5
Commissions & Fees54
Offering of Investments55
Platforms & Tools54.5
Mobile Trading54
Research54.5
Education44
Trust Score9992
WinnerYES
66% of retail CFD accounts lose money77% of retail CFD accounts lose money

Level of experience  

Professional traders prefer Saxo Bank because of its premium account tiers and trading tools. It has advanced trading videos for experienced traders. Saxo Bank has beginner-friendly tools, including training videos, webinars, and forex education. 

XTB is the first choice of beginner traders because of its simple-to-understand platform. It has user-friendly tools, useful educational materials, and research features. 

Fees  

Saxo Bank has one of the highest minimum deposit fees of US$10,000. XTB doesn’t charge an initial deposit for opening an account. Both brokers have a transparent fee structure and offer discounts for active traders. 

Assets  

Saxo Bank has an excellent portfolio with CFD, cryptocurrency CFD, stocks, bonds, and 170 forex pairs. XTB has a limited portfolio and offers 49 forex pairs. Both brokers offer social trading tools and have an average spread for EUR/USD of 0.8. 

Trading platform 

Saxo Bank has a comprehensive portfolio with desktop, web, and mobile trading platforms. It offers a virtual trading account, premium research, and educational tools. Saxo Bank has impressive social trading services and access to MetaTrader4. We recommend it for traders of all levels of experience. 

XTB has a beginner-friendly proprietary platform, desktop, web, and mobile app. It offers access to MetaTrader 4 and social trading. Its demo account allows new traders to test its offering with virtual money. 

Banking services  

Banking services are an essential component of online trading. Saxo Bank offers bank transfers and credit/debit card funding. XTB has a comprehensive offer with bank transfers, credit/debit cards, PayPal, and Skrill. 

Final verdict  

Saxo Bank and XTB are the leading online brokers. Both have advantages and disadvantages, depending on your needs and trading experience. We recommend Saxo Bank to active traders of all levels of experience. XTB is a better fit for new traders looking for a straightforward trading platform and 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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