FP Marketsvs
Saxo BankForex Broker Comparison
This comparison pits FP Markets against Saxo Bank in clash of platform breadth, regulation depth, and pricing. The outcome hinges on whether multi-platform access and stricter oversight trump raw spreads.
Our Verdict
Saxo Bank winsby 0.2 pts
Saxo Bank ends ahead of FP Markets overall, scoring higher for regulation breadth and platform depth.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FP Markets offers MT4/MT5 and cTrader, Saxo uses a proprietary platform.
- 2FP Markets offers raw spreads from 0 pips with $6/lot commission; Saxo lacks.
- 3Number of instruments: FP Markets 10,000; Saxo Bank 71,000.
Who should choose FP Markets vs Saxo Bank?
Find out which broker best suits your trader profile.
Choose FP Markets if…
Choose FP Markets if you want MT4/MT5 and cTrader access with raw spreads and high leverage.
Choose Saxo Bank if…
Choose Saxo Bank if you prefer a proprietary platform and broad multi-asset coverage.
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
FP Markets offers tighter spreads from 0.00 pips vs 0.60 pips for Saxo Bank, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
FP 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▲ |
FP Markets vs Saxo Bank Forex Broker Pros & Cons
Pros
True ECN pricing from 0.0 pips + $6 round-turn commission
Supports MT4, MT5, and cTrader, all three major platforms
IRESS platform for direct-access share CFD trading
Strong ASIC and CySEC regulation
Client funds held in segregated accounts
FP Markets vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
4
FP Markets
criteria wins
1
Saxo Bank
criteria win
Highlighted rows show where the two brokers differ
| Criteria | FP 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 | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Fail |
| Proprietary platform | Fail | 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 |
FP Markets vs Saxo Bank: Frequently Asked Questions
The scores are close: FP 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.
FP Markets starts from 0 pips, tighter than Saxo Bank's 0.6 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Saxo Bank has no minimum deposit, while FP Markets requires at least $100. This makes Saxo Bank more accessible for traders with limited starting capital.
Both FP 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, 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.
FP Markets lists maximum leverage of 500:1, 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.
FP Markets charges $6 per lot on commission-based accounts. Commission details for Saxo Bank are not currently available. Check their website for up-to-date pricing.
FP Markets supports cTrader, IRESS, MetaTrader 5, TradingView, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. FP Markets has exclusive access to cTrader and IRESS and MetaTrader 5 and TradingView and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO and Proprietary Web/Mobile.
