FXCM vs Saxo Bank
FXCM Review 2023 | Saxo Bank Review 2023 |
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3.5
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4
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FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM is a popular choice. The broker is also FCA regulated and authorized in Australia and South Africa. |
Saxo is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC. |
66% of retail accounts lose money. | |
Comment by Reviewer | |
"FXCM is a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets." | "Saxo is best for active traders and advanced investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders." |
Pros | |
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Cons | |
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Instruments | |
Stocks, Spreadbetting, CFD, Forex, Crypto | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Futures, Options, Warrants, Crypto |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$50 | |
Trading Platforms | |
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Payment Methods | |
Minimum Trade | |
Variable | Variable |
Regulator | |
FCA, CySEC, ASIC. | FCA, DFSA, MAS, SFC |
Margin Trading | |
Yes | Yes |
STP Account | |
No | No |
ECN Account | |
No | Yes |
DMA Account | |
No | No |
MAM Account | |
Yes | No |
PAMM Account | |
No | No |
LAMM Account | |
No | No |
Demat Account | |
No | No |
AI / Machine Learning | |
No | No |
Robo Advisor | |
No | No |
Negative Balance Protection | |
Yes | No |
Market Maker | |
Yes | No |
P2P Trading | |
No | No |
Spot Trading | |
No | Yes |
Mobile Apps | |
iOS and Android | SaxoTraderGo (iOS, Android, Windows) |
Auto Trading | |
Excel Automation via OpenAPI | |
Copy Trading | |
Yes | No |
Copy Trading Platform | |
FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time. | |
Social Trading | |
Yes | No |
Trade Signals | |
Yes | |
VPS Hosting | |
No | No |
Tournaments | |
No | No |
Demo Competitions | |
Yes | No |
Ethical Investing | |
No | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
No | No |
Islamic Account | |
No | Yes |
Account Currencies | |
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Stock Exchanges | |
Commodities | |
CFD Trading | |
Trade a range of CFD instruments on one of FXCM's multi-asset platforms with fast execution and zero/positive slippage. Daily market analysis can also be used to inform trading decisions. | Saxo Bank offers a secure and reliable way to trade 8,800+ CFDs spanning forex, stocks, indices, commodities, options and bonds. The broker's extra features include a trading academy, powerful charting and analytical tools and trading signals, helping it stand out from many alternatives. |
Leverage | |
1:30 | 1:30 (Retail), 1:66 (Pro) |
FTSE Spread | |
1.18 pts var* | 1.2 pts (Variable) |
GBPUSD Spread | |
0.5 pips* | 0.7 (var) |
Oil Spread | |
0.05 (var)* | 0.03 |
Stocks Spread | |
0.2% Var* | 0.10% (subject to min commission) |
Forex Trading | |
Access over 40 currency pairs with no commissions and low spreads from 0.78 pips for EUR/USD. Forex can also be traded 24/5 on a choice of reliable platforms. | With around 190 forex pairs and spot metals, 140 forwards, top-tier liquidity, fast execution and spreads from near zero, Saxo Bank offers exceptional flexibility and value to forex traders. Advanced charting from TradingView is another plus for active forex traders. |
GBPUSD Spread | |
0.5 pips var* | 0.7 (varies by region) |
EURUSD Spread | |
0.2 pips var* | 0.2 (varies by region) |
EURGBP Spread | |
0.5 pips var* | 0.6 (varies by region) |
Assets | |
40 | 40+ |
Currency Indices | |
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Cryptocurrency | |
Trade some of world's most popular digital coins with zero commission and leverage up to 1:4. FXCM also stands out for its crypto major basket which offers exposure to Bitcoin, Ethereum, Litecoin and Bitcoin Cash in one trade. | Saxo Bank offers BTC, ETH and LTC in CFD pairs against USD, EUR and JPY for shorter-term trades, as well as 12 funds tracking popular cryptocurrency price movements for longer-term trades. |
Spread | |
Variable | Variable |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
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66% of retail accounts lose money. | |
More Comparisons | |
FXCM vs |
Saxo Bank vs |