FXCMvs
Saxo BankForex Broker Comparison
In a head-to-head between FXCM with MT4 and a proprietary platform and Saxo Bank with a premium multi-asset platform, the two brokers incline toward different risk and cost models.
Our Verdict
Saxo Bank winsClear Winner
Saxo Bank wins on editorial score (4.7 vs 4.1) and stronger trust/regulation and platform depth, compared with FXCM.
Saxo Bank
4.7/5
FXCM
4.1/5
Key Differences
- 1FXCM offers 24/5 live chat; Saxo Bank does not.
- 2FXCM provides MT4/MT5 support while Saxo Bank does not.
- 3FXCM lists 400 instruments vs Saxo’s 71,000.
Who should choose FXCM vs Saxo Bank?
Find out which broker best suits your trader profile.
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
FXCM offers tighter spreads from 0.40 pips vs 0.60 pips for Saxo Bank, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
FXCM vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.1/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.9 / 5▲ |
FXCM vs Saxo Bank Forex Broker Pros & Cons
Pros
Strong APIs (REST, FIX)
Trading Station + MT4
FCA regulated
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
FXCM vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FXCM
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXCM | 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 |
FXCM vs Saxo Bank: Frequently Asked Questions
Saxo Bank rates 4.7/5 versus 4.1/5 for FXCM. Saxo Bank edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
FXCM starts from 0.4 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 FXCM requires at least $50. This makes Saxo Bank more accessible for traders with limited starting capital.
Both FXCM 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.
FXCM lists maximum leverage of 400:1, 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.
FXCM supports ZuluTrade, Proprietary Web/Mobile, MetaTrader 4, NinjaTrader, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. FXCM has exclusive access to ZuluTrade and MetaTrader 4 and NinjaTrader. Saxo Bank has exclusive access to SaxoTraderGO.
