OANDA vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of OANDA and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
NFA- and FCA-regulated with strong US/UK coverage, transparent historical pricing, and excellent research.
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 winsby 0.1 pts
Saxo Bank edges ahead with a score of 4.7/5 vs OANDA's 4.6/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
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 0.6 pips vs 1 pips for OANDA, 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 active traders
Recommended
Saxo Bank has a cost edge: tighter spreads from 0.6 pips.
Best for platform choice
Recommended
OANDA offers more exclusive platform options: MetaTrader 4, MetaTrader 5, TradingView, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out OANDA with a higher editorial score (4.7/5 vs 4.6/5), indicating a stronger overall experience for new traders.
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▲ |
Fees & Spreads 30% weight | 4.5 / 5▲ | 4.4 / 5 |
Platforms & Tools 20% weight | 4.6 / 5 | 4.8 / 5▲ |
Customer Support 10% weight | 4.3 / 5 | 4.6 / 5▲ |
| Founded | 1996 | 1992 |
| Headquarters | New York, United States | Copenhagen, Denmark |
| Min deposit | No minimum | No minimum |
| Spreads from | 1 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 50:1 | 30:1 |
| Withdrawal fee | Free for ACH | Free |
| Regulators | FCA CMF ASIC NFA CBI | FCA ASIC JFSA SFC MAS ACPR CNMV DFSA FINMA Finansinspektionen Finanstilsynet FSC CBI KNF Finanstilsynet MFSA CMA |
| Platforms | MetaTrader 4 MetaTrader 5 Proprietary Web/Mobile TradingView | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit OANDA | Visit Saxo Bank |
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
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app 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
Spreads slightly wider than ECN-style brokers
No copy trading
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
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
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4.6/5 for OANDA. The best choice still depends on your individual trading needs; OANDA and Saxo Bank may each suit different trader profiles.
Saxo Bank offers tighter spreads starting from 0.6 pips, compared to OANDA's spreads from 1 pips. Tighter spreads lower the cost per trade, particularly valuable 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. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
OANDA offers maximum leverage of 50:1, 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.
OANDA supports MetaTrader 4, MetaTrader 5, Proprietary Web/Mobile, TradingView and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; OANDA exclusively offers MetaTrader 4, MetaTrader 5, TradingView; Saxo Bank exclusively offers SaxoTraderGO.
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Score 4.6 / 5
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