Compare forex brokers BCS Forex VS Saxo Bank

If you're choosing between BCS Forex and Saxo Bank forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is BCS Forex better than Saxo Bank? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

BCS FOREX VS SAXO BANK

BCS Forex
BCS Forex Overview

BCS Forex was founded in December of 2004. The project presumed wide range of professional services to provide access to online trading in the international Forex market. BCS Forex clients have access to trading with the most marketable financial instruments (currencies, stock assets and indices) using a single trading account.

Saxo Bank
Saxo Bank Overview

Saxo Bank is a Danish investment bank that specializes in providing its clients with online trading services for various types of financial instruments including CFD’s, Bonds, Equities, Forex and Futures.

# Broker's Features BCS FOREX Availability SAXO BANK Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare BCS Forex vs Saxo Bank.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. BCS Forex offers Online Financial Trading and Investment Services Such as CFD (US Stocks, RU Stocks, Indexes, Energy), CRYPT, while Saxo Bank offers Currencies, Commodities, Indices, Stocks, Bonds, Futures.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. BCS Forex is Broker, while Saxo Bank is Dealing Desk, Market Maker, STP.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. BCS Forex recommended minimum capital is N/A, while Saxo Bank has a Minimum Deposit Requirement of .

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. BCS Forex is regulated by N/A, while Saxo Bank regulated by ASIC, DFSA, FCA, FSA, FSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. BCS Forex offers USD, EUR, RUB different account currencies for each account types, while Saxo Bank offers account currencies.

Languages Available: Next lets have a look at each broker's different Language options. BCS Forex offers English, Russian, while Saxo Bank offers Arabic, Chinese, Czech, Danish, Dutch, English, French, German, Greek, Hebrew Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. BCS Forex offers Plastic cards, Bank transfers, Electronic wallets different payment methods for each account types, while Saxo Bank offers Credit/Debit Cards, Bank Wire Transfer payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, BCS Forex makes MT4, MT5 available to clients, while Saxo Bank offers SaxoTrader, TradeMaker.

The Verdict: BCS Forex or Saxo Bank?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Saxo Bank is more reliable based on our criteria above. Saxo Bank has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Saxo Bank broker is regulated in more major hubs. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Saxo Bank has a wider range of languages in which customer service is offered making the broker more accessible. As Saxo Bank offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, Saxo Bank may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

What We Really Like on Saxo Bank

Saxo has a great research service, its proprietary research team constantly feeds trade ideas. The Saxo trading experience is driven by a great, and well-designed Saxo trading platform to execute the trades. Saxo's product portfolio is wide, can serve even heavy traders.

What We’d Like More on Saxo Bank

Saxo's forex, bond, options, and futures trading fees are high. The account opening is slow as it can take more than 3 days. Its live chat customer support is missing.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.

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