Forex.comvs
Saxo BankForex Broker Comparison
Forex.com and Saxo Bank face off over regulation, pricing clarity, and platform depth. The focus is on cost structures and the breadth of tradable instruments.
Our Verdict
Saxo Bank winsby 0.5 pts
Saxo Bank is the overall winner on editorial score. It also demonstrates stronger regulation coverage than Forex.com.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Instrument count: 400 vs 71,000.
- 2Raw spreads: available on Forex.com; not offered by Saxo Bank.
- 3MT4/MT5 availability: Forex.com supports; Saxo Bank does not.
Who should choose Forex.com vs Saxo Bank?
Find out which broker best suits your trader profile.
Choose Forex.com if…
Choose Forex.com if you want access for US clients and solid macro research tools. It offers MT4, MT5 and a raw spread option with $7/lot.
Choose Saxo Bank if…
Choose Saxo Bank if you want a licensed Danish bank with a deep multi-asset platform. It provides SaxoTraderGO/PRO and tiered pricing for active traders.
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 1.00 pips for Forex.com, reducing trading costs.
Best for safety & regulation
Forex.com 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▲ |
Forex.com vs Saxo Bank Forex Broker Pros & Cons
Pros
One of the few brokers accepting US retail forex clients
Deep research tools including macro analysis
Raw spread account with competitive $7 round-turn commission
MT4, MT5 and proprietary platforms
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Forex.com vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
Forex.com
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Forex.com | 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 | Pass | 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 |
Forex.com vs Saxo Bank: Frequently Asked Questions
Saxo Bank rates 4.7/5 versus 4.2/5 for Forex.com. Saxo Bank edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
Saxo Bank starts from 0.6 pips, tighter than Forex.com's 1 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Saxo Bank has no minimum deposit, while Forex.com requires at least $100. This makes Saxo Bank more accessible for traders with limited starting capital.
Both Forex.com 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, two factors stand out: Saxo Bank has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
Forex.com lists maximum leverage of 50:1, 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.
Forex.com charges $7 per lot on commission-based accounts. Commission details for Saxo Bank are not currently available. Check their website for up-to-date pricing.
Forex.com supports MetaTrader 5, Proprietary Web/Mobile, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. Forex.com has exclusive access to MetaTrader 5 and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO.
