CMC Marketsvs
Saxo BankForex Broker Comparison
Two regulated retail FX brokers, CMC Markets and Saxo Bank, face off on regulation, pricing and platform depth. The axis of tension centers on safety, cost, and platform power.
Our Verdict
Saxo Bank winsby 0.2 pts
Saxo Bank edges ahead of CMC Markets with an editorial score of 4.7 vs 4.5, supported by stronger trust/regulation and platforms.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Saxo Bank offers 71,000+ instruments vs 12,000 for CMC Markets.
- 2CMC Markets provides MT4/MT5 support; Saxo Bank does not.
- 3CMC offers 24/5 live chat; Saxo Bank does not.
Who should choose CMC Markets vs Saxo Bank?
Find out which broker best suits your trader profile.
Choose CMC Markets if…
Choose CMC Markets if you want MT4/MT5 support and 24/5 live chat for assistance.
Choose Saxo Bank if…
Choose Saxo Bank if you want 71,000+ instruments and premium SaxoTraderGO/PRO platforms.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
Saxo Bank offers tighter spreads from 0.60 pips vs 0.70 pips for CMC Markets, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
CMC Markets vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.5/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5 | 4.9 / 5▲ |
CMC Markets vs Saxo Bank Forex Broker Pros & Cons
Pros
FCA-regulated, LSE-listed
Excellent proprietary platform
MT4 also available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
CMC Markets vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
CMC Markets
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | CMC Markets | Saxo Bank |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
CMC Markets vs Saxo Bank: Frequently Asked Questions
The scores are close: CMC Markets rates 4.5/5 and Saxo Bank rates 4.7/5. Saxo Bank has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Saxo Bank starts from 0.6 pips, tighter than CMC Markets's 0.7 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither CMC Markets nor Saxo Bank requires a minimum deposit, making both accessible regardless of starting capital.
Both CMC Markets and Saxo Bank hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, both brokers provide negative balance protection. Also compare demo account availability and educational resources on each broker's site before deciding.
CMC Markets lists maximum leverage of 30:1, while Saxo Bank lists up to 30:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
CMC Markets supports ProRealTime, Proprietary Web/Mobile, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. CMC Markets has exclusive access to ProRealTime and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO.
