OANDAvs
Saxo BankForex Broker Comparison
Two established brokers face off on trust, pricing and platform options. Their regulatory parity contrasts with stark differences in platforms and instrument counts.
Our Verdict
Saxo Bank winsby 0.1 pts
OANDA and Saxo Bank are closely matched in overall scores. The clearest differentiator is instrument variety, with Saxo Bank offering 71,000 instruments versus OANDA's 70.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1OANDA offers MT4/MT5; Saxo Bank does not.
- 2OANDA provides 24/5 live chat; Saxo Bank does not.
- 3Saxo Bank lists 71,000 instruments vs OANDA's 70.
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 1.00 pips for OANDA, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
OANDA vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.6/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.8 / 5 | 4.9 / 5▲ |
OANDA vs Saxo Bank Forex Broker Pros & Cons
Pros
Available to US residents (NFA-registered)
Best-in-class research and economic data
No minimum deposit
MT4, MT5 and proprietary platforms
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
OANDA vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
OANDA
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | OANDA | 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 |
OANDA vs Saxo Bank: Frequently Asked Questions
The scores are close: OANDA rates 4.6/5 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.
Saxo Bank starts from 0.6 pips, tighter than OANDA's 1 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither OANDA nor Saxo Bank requires a minimum deposit, making both accessible regardless of starting capital.
Both OANDA 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, both brokers provide negative balance protection. Also compare demo account availability and educational resources on each broker's site before deciding.
OANDA lists maximum leverage of 50:1, 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.
OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. OANDA has exclusive access to MetaTrader 5 and TradingView and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO.
