Forex.com vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of Forex.com and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
One of very few brokers accepting US retail forex clients, with deep research tools and competitive raw spreads for professional accounts.
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 Forex.com'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 Forex.com, 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
It's a tie
Both equally suited
Both brokers offer equivalent trading costs across spreads, commissions, and account types.
Best for platform choice
Recommended
Forex.com offers more exclusive platform options: MetaTrader 4, MetaTrader 5, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out Forex.com with a higher editorial score (4.7/5 vs 4.2/5), indicating a stronger overall experience for new traders.
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▲ |
Fees & Spreads 30% weight | 4.2 / 5 | 4.4 / 5▲ |
Platforms & Tools 20% weight | 4.1 / 5 | 4.8 / 5▲ |
Customer Support 10% weight | 4.0 / 5 | 4.6 / 5▲ |
| Founded | 1999 | 1992 |
| Headquarters | Bedminster, New Jersey, USA | Copenhagen, Denmark |
| Min deposit | $100 | No minimum |
| Spreads from | 1 pips | 0.6 pips |
| Commission / lot | $7/lot | N/A |
| Max leverage | 50:1 | 30:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC CFTC MAS NFA IIROC | FCA ASIC JFSA MAS SFC DFSA ACPR CNMV FINMA Finansinspektionen Finanstilsynet CMA FSC CBI KNF Finanstilsynet MFSA |
| Platforms | MetaTrader 4 MetaTrader 5 Proprietary Web/Mobile | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit Forex.com | Visit Saxo Bank |
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)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
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
$100 minimum deposit is higher than some peers
US clients restricted to 50:1 leverage on major pairs
Raw account pricing not available in all jurisdictions
Inactivity fee applies
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
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
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4.2/5 for Forex.com. The best choice still depends on your individual trading needs; Forex.com and Saxo Bank may each suit different trader profiles.
Saxo Bank offers tighter spreads starting from 0.6 pips, compared to Forex.com'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 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. 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.
Forex.com offers maximum leverage of 50:1, 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.
Forex.com charges $7 per lot on commission-based accounts. Commission details for the other broker are not currently available. Check their website for up-to-date pricing.
Forex.com supports MetaTrader 4, MetaTrader 5, Proprietary Web/Mobile and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; Forex.com exclusively offers MetaTrader 4, MetaTrader 5; Saxo Bank exclusively offers SaxoTraderGO.
Ready to get started?
Open an account directly with the broker that suits you best.
Score 4.2 / 5
More Broker Comparisons
More Forex.com comparisons
More Saxo Bank comparisons
Personalised recommendation
Not sure which broker is right for you?
Answer 6 quick questions and we'll match you with the brokers that best fit your trading style, experience level, and country.
Find my broker