Plus500 vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of Plus500 and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
LSE-listed with zero commission, intuitive proprietary platform, and negative balance protection - though limited research and no MT4.
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 Plus500's 4/5.
Saxo Bank
4.7/5
Plus500
4/5
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
It's a tie
Both equally suited
Both brokers offer spreads from 0.6 pips.
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
Saxo Bank offers more exclusive platform options: SaxoTraderGO, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out Plus500 with a higher editorial score (4.7/5 vs 4/5), indicating a stronger overall experience for new traders.
Plus500 vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.0/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.2 / 5 | 4.9 / 5▲ |
Fees & Spreads 30% weight | 4.0 / 5 | 4.4 / 5▲ |
Platforms & Tools 20% weight | 3.7 / 5 | 4.8 / 5▲ |
Customer Support 10% weight | 3.9 / 5 | 4.6 / 5▲ |
| Founded | 2008 | 1992 |
| Headquarters | Haifa, Israel | Copenhagen, Denmark |
| Min deposit | $100 | No minimum |
| Spreads from | 0.6 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 30:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC MAS CySEC CMA | FCA ASIC JFSA MAS SFC DFSA ACPR CNMV FINMA Finansinspektionen Finanstilsynet CMA FSC CBI KNF Finanstilsynet MFSA |
| Platforms | Proprietary Web/Mobile | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit Plus500 | Visit Saxo Bank |
Plus500 vs Saxo Bank Forex Broker Pros & Cons
Pros
LSE-listed providing strong institutional credibility
Zero commission on all trades
Intuitive proprietary platform with a clean mobile app
Negative balance protection across all accounts
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Investor compensation scheme coverage
No deposit fees
Transparent pricing with clear cost disclosure
24/5 live chat support
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
No MT4 or MT5 support
Limited research tools and market analysis
US residents not accepted
No copy trading
No raw spread account option
Inactivity fee applies
No MetaTrader support
Limited charting capabilities
No phone support
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
Plus500 vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
Plus500
criteria win
2
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Plus500 | 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 | Fail | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Fail | Pass |
| Multilingual support | Pass | Pass |
Plus500 vs Saxo Bank: Frequently Asked Questions
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4/5 for Plus500. The best choice still depends on your individual trading needs; Plus500 and Saxo Bank may each suit different trader profiles.
Both Plus500 and Saxo Bank offer spreads starting from 0.6 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
Saxo Bank has a lower minimum deposit of no minimum required, while Plus500 requires at least $100. This makes Saxo Bank more accessible for traders with limited starting capital.
Both Plus500 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.
Plus500 offers maximum leverage of 30:1, 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.
Plus500 supports Proprietary Web/Mobile and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; Saxo Bank exclusively offers SaxoTraderGO.
Ready to get started?
Open an account directly with the broker that suits you best.
Score 4 / 5
More Broker Comparisons
More Plus500 comparisons
More Saxo Bank comparisons
Personalised recommendation
Not sure which broker is right for you?
Answer 6 quick questions and we'll match you with the brokers that best fit your trading style, experience level, and country.
Find my broker