FXCM vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of FXCM and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
Veteran FCA-regulated broker with strong API support, MT4, and the proprietary Trading Station platform.
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 winsClear Winner
Saxo Bank comes out ahead with an editorial score of 4.7/5 compared to FXCM's 4.1/5.
Saxo Bank
4.7/5
FXCM
4.1/5
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 0.4 pips vs 0.6 pips for Saxo Bank, 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 platform choice
Recommended
FXCM offers more exclusive platform options: MetaTrader 4, NinjaTrader, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out FXCM with a higher editorial score (4.7/5 vs 4.1/5), indicating a stronger overall experience for new traders.
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▲ |
Fees & Spreads 30% weight | 4.2 / 5 | 4.4 / 5▲ |
Platforms & Tools 20% weight | 4.2 / 5 | 4.8 / 5▲ |
Customer Support 10% weight | 4.0 / 5 | 4.6 / 5▲ |
| Founded | 1999 | 1992 |
| Headquarters | London, United Kingdom | Copenhagen, Denmark |
| Min deposit | $50 | No minimum |
| Spreads from | 0.4 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 400:1 | 30:1 |
| Withdrawal fee | Free for first per month | Free |
| Regulators | FCA ASIC | FCA ASIC JFSA MAS SFC DFSA ACPR CNMV FINMA Finansinspektionen Finanstilsynet CMA FSC CBI KNF Finanstilsynet MFSA |
| Platforms | MetaTrader 4 Proprietary Web/Mobile NinjaTrader | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit FXCM | Visit Saxo Bank |
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
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform 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
Withdrew from US market in 2017
No raw spread account option
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
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
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4.1/5 for FXCM. The best choice still depends on your individual trading needs; FXCM and Saxo Bank may each suit different trader profiles.
FXCM offers tighter spreads starting from 0.4 pips, compared to Saxo Bank's spreads from 0.6 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 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. 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.
FXCM offers maximum leverage of 400:1, 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.
FXCM supports MetaTrader 4, Proprietary Web/Mobile, NinjaTrader and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; FXCM exclusively offers MetaTrader 4, NinjaTrader; Saxo Bank exclusively offers SaxoTraderGO.
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Score 4.1 / 5
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