Forex.com
Saxo Bank
Forex.com vs Saxo Bank
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
Forex.com and Saxo Bank are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. Forex.com, founded in 2001 and headquartered in Warren, New Jersey, USA, is regulated by FCA, ASIC, CySEC and offers spreads starting from 0.0 pips with a minimum deposit of $100. Saxo Bank, established in 1992 in Copenhagen, Denmark, holds licenses from FCA, DFSA, MAS with spreads from 0.4 pips and a $2000 minimum deposit. In our hands-on testing across 8 scoring categories, Saxo Bank scored 9/10 overall compared to Forex.com's 8.5/10, making it the stronger pick for most traders. That said, Forex.com holds its own with lower trading costs and smoother deposits & withdrawals, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
Saxo Bank scores 9/10 overall vs 8.5/10 for Forex.com — a 0.5-point difference.
- 💵
Forex.com requires just $100 to start, while Saxo Bank needs $2000 — Forex.com is 20x more accessible.
- 📈
Saxo Bank offers 72,000+ instruments vs 5,000+ at Forex.com — a massive gap in market coverage.
- 🖥️
Forex.com runs on MT4, MT5, Forex.com Platform, while Saxo Bank uses SaxoTraderGO, SaxoTraderPRO — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Product Range: Saxo Bank scores 10.0 vs 8.5 for Forex.com — a 1.5-point difference.
Our Verdict
Forex.com
Score: 8.5/10 · Wins 2 categories- You want lower spreads and trading fees
- Fast and flexible deposits & withdrawals are important
- You prefer a low minimum deposit ($100)
Saxo Bank
Score: 9.0/10 · Wins 4 categories- You need advanced trading platforms and tools
- Responsive customer support matters to you
- You want access to a wider range of instruments
- You rely on in-depth research and analysis tools
Saxo Bank takes the lead with an overall score of 9/10 compared to 8.5/10, winning in 4 out of 8 scoring categories. Saxo Bank stands out for better trading platforms and better customer support, while Forex.com fights back with lower trading costs and smoother deposits & withdrawals.
Detailed Verdict
After testing both brokers with real accounts, Saxo Bank comes out ahead with a 9/10 overall rating, winning 4 out of 8 categories. Its strongest area is Product Range where it scores 10.0/10. Saxo Bank holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. Forex.com is not without merit — it scores 8.5/10 overall and excels in Regulation & Trust (9.5/10), winning 2 categories. Traders who value lower trading costs or smoother deposits & withdrawals may find Forex.com the better fit. For a complete breakdown, read our full Saxo Bank review and Forex.com review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
Forex.com wins by 0.5 points
Saxo Bank wins by 1.0 points
Saxo Bank wins by 0.5 points
Saxo Bank wins by 1.0 points
Forex.com wins by 0.5 points
Saxo Bank wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.5/10 | 9.0/10 ✓ |
| Min Deposit Lower is better | $100 ✓ | $2000 |
| Max Leverage | 1:200 | 1:200 |
| Spreads From | 0.0 pips | 0.4 pips |
| Platforms | MT4, MT5, Forex.com Platform | SaxoTraderGO, SaxoTraderPRO |
| Regulation | FCA, ASIC, CySEC | FCA, DFSA, MAS |
| Founded Older track record highlighted | 2001 | 1992 ✓ |
| Markets | 5,000+ | 72,000+ ✓ |
Fees & Costs
When it comes to trading costs, Forex.com has the edge with a score of 8/10 versus 7.5/10 for Saxo Bank. Forex.com offers spreads starting from 0.0 pips, while Saxo Bank starts from 0.4 pips. The minimum deposit at Forex.com is $100, compared to $2000 at Saxo Bank. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
Saxo Bank scores 9.5/10 for platforms compared to 8.5/10 for Forex.com. Forex.com provides MT4, MT5, Forex.com Platform, while Saxo Bank offers SaxoTraderGO, SaxoTraderPRO. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. Forex.com is regulated by FCA, ASIC, CySEC (Tier 1), while Saxo Bank holds licenses from FCA, DFSA, MAS (Tier 1). Forex.com scores 9.5/10 and Saxo Bank scores 9.5/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, Forex.com leads with 8/10 compared to 8/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. Forex.com and Saxo Bank both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
Forex.com offers 24/5 Live Chat, Email, Phone and scores 8/10, while Saxo Bank provides 24/5 Live Chat, Email, Phone with a score of 8.5/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
Forex.com scores 8/10 for deposits and withdrawals, while Saxo Bank scores 7.5/10. Forex.com accepts Bank Transfer, Credit Card, PayPal, Skrill, and Saxo Bank supports Bank Transfer, Credit Card. Processing times, fees, and available currencies vary. Forex.com requires a minimum deposit of $100 versus $2000 for Saxo Bank. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose Forex.com if you...
- You want lower spreads and trading fees
- Fast and flexible deposits & withdrawals are important
- You prefer a low minimum deposit ($100)
Choose Saxo Bank if you...
- You need advanced trading platforms and tools
- Responsive customer support matters to you
- You want access to a wider range of instruments
- You rely on in-depth research and analysis tools
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is Forex.com better than Saxo Bank?
Saxo Bank scores higher overall (9/10 vs 8.5/10), winning 4 of 8 categories. However, Forex.com is stronger in lower trading costs and smoother deposits & withdrawals. The best choice depends on what matters most to your trading style.
Which has lower fees, Forex.com or Saxo Bank?
Forex.com scores higher for trading costs. Forex.com offers spreads from 0.0 pips with a $100 minimum deposit, while Saxo Bank starts from 0.4 pips with $2000 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is Forex.com safe to trade with?
Forex.com is regulated by FCA, ASIC, CySEC and scores 9.5/10 for regulation. Saxo Bank is regulated by FCA, DFSA, MAS with a score of 9.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, Forex.com or Saxo Bank?
Saxo Bank scores 9.5/10 for platforms. Forex.com offers MT4, MT5, Forex.com Platform, while Saxo Bank provides SaxoTraderGO, SaxoTraderPRO. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for Forex.com vs Saxo Bank?
Forex.com requires a minimum deposit of $100, while Saxo Bank requires $2000. Forex.com has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.