eToro vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of eToro and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
Best-in-class social and copy trading on a clean proprietary web/mobile platform. FCA / CySEC / ASIC regulated.
VS
Danish-licensed bank with the deepest multi-asset coverage we cover, premium SaxoTraderGO/PRO platforms, and tiered pricing for active traders.
Our Verdict
Saxo Bank winsby 0.5 pts
Saxo Bank edges ahead with a score of 4.7/5 vs eToro's 4.2/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
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 0.6 pips vs 1 pips for eToro, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for active traders
Recommended
Saxo Bank has a cost edge: tighter spreads from 0.6 pips.
Best for platform choice
Recommended
Saxo Bank offers more exclusive platform options: SaxoTraderGO, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out eToro with a higher editorial score (4.7/5 vs 4.2/5), indicating a stronger overall experience for new traders.
eToro vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.2/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.3 / 5 | 4.9 / 5▲ |
Fees & Spreads 30% weight | 3.9 / 5 | 4.4 / 5▲ |
Platforms & Tools 20% weight | 4.4 / 5 | 4.8 / 5▲ |
Customer Support 10% weight | 4.2 / 5 | 4.6 / 5▲ |
| Founded | 2007 | 1992 |
| Headquarters | Tel Aviv, Israel | Copenhagen, Denmark |
| Min deposit | $50 | No minimum |
| Spreads from | 1 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 30:1 |
| Withdrawal fee | USD 5 per withdrawal | Free |
| Regulators | FCA ASIC AMF CySEC FSRA CMVM Finansinspektionen Finanstilsynet ASF FSC CNB MNB KNF Finanstilsynet HCMC MFSA CMA FSA Seychelles | FCA ASIC JFSA SFC MAS ACPR CNMV DFSA FINMA Finansinspektionen Finanstilsynet FSC CBI KNF Finanstilsynet MFSA CMA |
| Platforms | Proprietary Web/Mobile | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit eToro | Visit Saxo Bank |
eToro vs Saxo Bank Forex Broker Pros & Cons
Pros
Social and copy trading leader
Multi-asset (stocks, crypto, FX)
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
Mobile trading app available
Proprietary trading platform available
24/5 live chat support
Multilingual customer support
Pros
Licensed bank (Denmark)
Best-in-class multi-asset platform
Tiered active-trader pricing
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
Phone support available
Multilingual customer support
Cons
Wider FX spreads
Withdrawal fee
No raw spread account option
Inactivity fee applies
No MetaTrader support
Limited charting capabilities
Pricing transparency could be improved
No phone support
Cons
Higher minimums on classic accounts than ECN brokers
No MT4 / MT5
No raw spread account option
Inactivity fee applies
No MetaTrader support
No 24/5 live chat
eToro vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
eToro
criteria win
3
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | eToro | 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 | Fail | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Fail | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Fail | Pass |
| Multilingual support | Pass | Pass |
eToro vs Saxo Bank: Frequently Asked Questions
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4.2/5 for eToro. The best choice still depends on your individual trading needs; eToro and Saxo Bank may each suit different trader profiles.
Saxo Bank offers tighter spreads starting from 0.6 pips, compared to eToro's spreads from 1 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
Saxo Bank has a lower minimum deposit of no minimum required, while eToro requires at least $50. This makes Saxo Bank more accessible for traders with limited starting capital.
Both eToro and Saxo Bank hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: Saxo Bank has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
eToro offers maximum leverage of 30:1, while Saxo Bank offers up to 30:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
eToro supports Proprietary Web/Mobile and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; Saxo Bank exclusively offers SaxoTraderGO.
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