Compare forex brokers FP Markets VS Saxo Bank

If you're choosing between FP Markets 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 FP Markets 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.

FP MARKETS VS SAXO BANK

FP Markets
FP Markets Overview

FP Markets is an Australian online brokerage firm that is regulated by ASIC. FP Markets offers clients with true ECN spreads on its sophisticated platforms.

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 FP MARKETS 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 FP Markets 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. FP Markets offers Online Financial Trading and Investment Services Such as IRESS DMA Equities 10,000+, 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. FP Markets is ECN, STP, 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. FP Markets recommended minimum capital is 100, 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. FP Markets is regulated by ASIC, 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. FP Markets offers USD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD 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. FP Markets offers English, Spanish, Italian, Portuguese, German, Fre, 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. FP Markets offers Bank Wire Transfer, Credit/Debit Cards, Debit Card, Skrill, Netell 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, FP Markets makes MT4, MT5, WebTrader and IRESS available to clients, while Saxo Bank offers SaxoTrader, TradeMaker.

The Verdict: FP Markets 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 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 Don’t Like on FP Markets

The stock CFD fees are quite high. The product portfolio is limited, only CFD, forex, crypto, and stocks on the ASX are offered. With FP Markets you will not have any investor and negative balance protection.

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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