FXTMvs
Saxo BankForex Broker Comparison
FXTM and Saxo Bank face off on regulation, platform choice, and cost structures. The tension centers on accessibility for beginners vs depth of instruments and advanced trading tools.
Our Verdict
Saxo Bank winsby 0.5 pts
Saxo Bank edges FXTM on the overall editorial score due to stronger trust and regulation and deeper platform capabilities.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FXTM supports MT4/MT5; Saxo relies on a proprietary platform.
- 2Saxo offers about 71,000 instruments versus FXTM's 600.
- 3FXTM provides 24/5 live chat; Saxo Bank lacks 24/5 chat.
Who should choose FXTM vs Saxo Bank?
Find out which broker best suits your trader profile.
Choose FXTM if…
Choose FXTM if you want MT4/MT5 access and a low $10 minimum deposit to start trading right away.
Choose Saxo Bank if…
Choose FXTM if you value no inactivity fee and strong education through webinars, videos and market analysis. Choose Saxo Bank if you want a proprietary trading platform and deep multi-asset tools across Web and Mobile. Choose Saxo Bank if you need broad instrument coverage, extensive regulatory oversight, and tiered pricing for active traders.
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 0.60 pips vs 1.50 pips for FXTM, reducing trading costs.
Best for safety & regulation
FXTM 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 | 4.2 / 5 | 4.9 / 5▲ |
FXTM vs Saxo Bank Forex Broker Pros & Cons
Pros
Low $10 minimum deposit on Micro accounts
Strong copy trading via FXTM Invest platform
Extensive education, webinars, video courses, and market analysis
Multilingual support in 20+ languages
Regulated by top-tier authorities (FCA, ASIC, CySEC)
FXTM vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
4
FXTM
criteria wins
2
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXTM | 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 | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
FXTM vs Saxo Bank: Frequently Asked Questions
Saxo Bank rates 4.7/5 versus 4.2/5 for FXTM. Saxo Bank edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
Saxo Bank starts from 0.6 pips, tighter than FXTM's 1.5 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Saxo Bank has no minimum deposit, while FXTM requires at least $10. This makes Saxo Bank more accessible for traders with limited starting capital.
Both FXTM 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.
FXTM lists maximum leverage of 1000:1, 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.
FXTM supports MetaTrader 5, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. FXTM has exclusive access to MetaTrader 5 and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO and Proprietary Web/Mobile.
