Saxo Bank vs Skilling Forex Broker Comparison
A head-to-head comparison of Saxo Bank and Skilling across regulation, trading costs, platforms, and editorial scoring.
Danish-licensed bank with the deepest multi-asset coverage we cover, premium SaxoTraderGO/PRO platforms, and tiered pricing for active traders.
VS
Modern Swedish-founded broker with CySEC and FCA regulation, a visually polished proprietary platform, and cTrader for advanced traders - well-positioned for EU retail clients seeking a contemporary alternative to legacy MetaTrader brokers.
Our Verdict
Saxo Bank winsClear Winner
Saxo Bank comes out ahead with an editorial score of 4.7/5 compared to Skilling's 4.1/5.
Saxo Bank
4.7/5
Skilling
4.1/5
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
Recommended
Saxo Bank offers tighter spreads from 0.6 pips vs 0.7 pips for Skilling, 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
It's a tie
Both equally suited
Both brokers offer equivalent trading costs across spreads, commissions, and account types.
Best for platform choice
Recommended
Skilling offers more exclusive platform options: MetaTrader 4, cTrader, Skilling Trader, a proprietary platform.
Best for beginners
Recommended
Saxo Bank edges out Skilling with a higher editorial score (4.7/5 vs 4.1/5), indicating a stronger overall experience for new traders.
Saxo Bank vs Skilling: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 4.1/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.9 / 5▲ | 4.3 / 5 |
Fees & Spreads 30% weight | 4.4 / 5▲ | 4.2 / 5 |
Platforms & Tools 20% weight | 4.8 / 5▲ | 4.3 / 5 |
Customer Support 10% weight | 4.6 / 5▲ | 4.1 / 5 |
| Founded | 1992 | 2016 |
| Headquarters | Copenhagen, Denmark | Valletta, Malta |
| Min deposit | No minimum | $100 |
| Spreads from | 0.6 pips | 0.7 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC JFSA MAS SFC DFSA ACPR CNMV FINMA Finansinspektionen Finanstilsynet CMA FSC CBI KNF Finanstilsynet MFSA | FCA FSCA CySEC |
| Platforms | Proprietary Web/Mobile SaxoTraderGO | MetaTrader 4 cTrader Skilling Trader |
| Active bonuses | ||
| Visit broker | Visit Saxo Bank | Visit Skilling |
Saxo Bank vs Skilling Forex Broker Pros & Cons
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
Pros
Clean modern Skilling Trader platform - excellent UX for new-to-intermediate traders
cTrader available with raw spreads from 0.0 pips
CySEC and FCA regulation with EU and UK investor protections
Growing Latin American presence with local-language support
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Multilingual customer 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
Cons
$100 minimum deposit on standard accounts
Newer broker - less track record than IG or Pepperstone
Product range narrower than multi-asset brokers
No phone support
Saxo Bank vs Skilling: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
Saxo Bank
criteria win
4
Skilling
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Saxo Bank | Skilling |
|---|---|---|
| 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 | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Fail | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Fail | Pass |
| Phone support | Pass | Fail |
| Multilingual support | Pass | Pass |
Saxo Bank vs Skilling: Frequently Asked Questions
Based on our independent editorial scoring, Saxo Bank ranks higher with a score of 4.7/5 vs 4.1/5 for Skilling. The best choice still depends on your individual trading needs; Saxo Bank and Skilling may each suit different trader profiles.
Saxo Bank offers tighter spreads starting from 0.6 pips, compared to Skilling's spreads from 0.7 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
Saxo Bank has a lower minimum deposit of no minimum required, while Skilling requires at least $100. This makes Saxo Bank more accessible for traders with limited starting capital.
Both Saxo Bank and Skilling 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.
Saxo Bank offers maximum leverage of 30:1, while Skilling offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Saxo Bank supports Proprietary Web/Mobile, SaxoTraderGO and Skilling offers MetaTrader 4, cTrader, Skilling Trader; Saxo Bank exclusively offers Proprietary Web/Mobile, SaxoTraderGO; Skilling exclusively offers MetaTrader 4, cTrader, Skilling Trader.
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Score 4.1 / 5
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