FXOpenvs
Saxo BankForex Broker Comparison
FXOpen and Saxo Bank face off across regulation, pricing and platform ecosystems. The tension centers on cost efficiency versus breadth of tools and asset coverage.
Our Verdict
Saxo Bank winsby 0.5 pts
Saxo Bank edges FXOpen with the higher editorial score and broader regulation.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FXOpen supports MT4/MT5 and cTrader; Saxo Bank does not offer MT4/MT5.
- 2FXOpen offers raw spreads; Saxo Bank does not provide raw spreads.
- 3Instruments: FXOpen about 700, Saxo Bank about 71,000.
Who should choose FXOpen 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
FXOpen offers tighter spreads from 0.00 pips vs 0.60 pips for Saxo Bank, reducing trading costs.
Best for safety & regulation
FXOpen 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 | 4.5 / 5 | 4.9 / 5▲ |
FXOpen vs Saxo Bank Forex Broker Pros & Cons
Pros
FCA, CySEC, and ASIC triple regulation
$3 round-turn ECN commission, one of the lowest in retail forex
Early cTrader adopter with mature integration
MT4, MT5, and cTrader all available
Client funds held in segregated accounts
FXOpen vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
4
FXOpen
criteria wins
2
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXOpen | 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 | Fail | Pass |
| Multilingual support | Pass | Pass |
FXOpen vs Saxo Bank: Frequently Asked Questions
Saxo Bank rates 4.7/5 versus 4.2/5 for FXOpen. Saxo Bank edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
FXOpen 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 FXOpen requires at least $100. This makes Saxo Bank more accessible for traders with limited starting capital.
Both FXOpen 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.
FXOpen 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.
FXOpen charges $3 per lot on commission-based accounts. Commission details for Saxo Bank are not currently available. Check their website for up-to-date pricing.
FXOpen supports cTrader, MetaTrader 5, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. FXOpen has exclusive access to cTrader and MetaTrader 5 and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO and Proprietary Web/Mobile.
