FXCM vs Saxo Bank

FXCM vs Saxo Bank Comparison Table 2023
FXCM Review 2023	Saxo Bank Review 2023
Review 3.5	Review 4
Traders from US not accepted See available CFD brokers	Traders from US not accepted See available CFD brokers
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
A choice for 4 powerful platforms including MT4, Capitalise.AI and the broker's proprietary solution Premium support and custom solutions in the Active Trader professional account Excellent trading tools including a market scanner, forex signals and access to reputable research site, eFXplus Strong selection of educational materials including a new trader guide, market outlook reports and free webinars Impressive global regulatory status with 4 reputable licenses with the FCA, ASIC, CySEC and FSCA A range of funding methods including bank cards, Apple Pay and PayPal, with instant processing times	Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools High-level research hub with curated market reports, plus unique insights with 'Outrageous Predictions' Excellent educational resources including podcasts, webinars and expert-led video insights Access to comprehensive third-party analysis tools including TradingView and Updata Highly accessible and flexible ISA account with no entry or exit fees Heavily regulated and trustworthy brand based in Switzerland Low fees with premium account tiers
Cons
Live chat support is unreliable Not the widest range of assets or trading vehicles	High deposit requirements for trading accounts Access to Level 2 pricing requires a subscription Clients from some jurisdictions not accepted including the US and Belgium
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
MT4 TradingView eSignal	TradingView
Payment Methods
Apple Pay Credit Card Debit Card Google Wallet Klarna PayPal POLi Wire Transfer	Credit Card JCB Card Mastercard TransferWise Visa Wire Transfer
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
USD EUR GBP CAD AUD ZAR CHF	USD EUR GBP CAD AUD JPY SEK DKK CHF
Stock Exchanges
Euronext IBEX 35 Russell 2000	London Stock Exchange New York Stock Exchange S&P 500 Shenzhen Stock Exchange Toronto Stock Exchange
Commodities
Cannabis Gold Oil Silver	Copper Corn Gold Natural Gas Oil Silver
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
JPY
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
BTC ETH LTC BTC	BTC ETH LTC XRP XTZ SOL ADA DOT
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
	66% of retail accounts lose money.
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