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InvestinGoal » CMC Markets vs Saxo Bank: Comparison and Analysis

CMC Markets vs Saxo Bank: Comparison and Analysis

Written by Filippo Ucchino Publication Date Last Updated
Our verdict · CFD trading

Saxo is better than CMC Markets for CFD trading in the UK by a small margin, because it gives access to more tradable symbols (71,000 against 12,000), allows expert advisors, high-frequency strategies, VPS hosting and API access, and offers conditions built for high volumes. CMC Markets runs MetaTrader 4, MetaTrader 5 and TradingView next to its own platform, executes orders faster (9 ms against 12 ms), allows hedging and works as a copy and social trading service. CMC Markets and Saxo are both regulated in the UK by the FCA. Both charge 7.00 USD per lot to trade EUR/USD, ask for no minimum deposit and allow scalping. They also offer a demo account and corporate accounts, hold the account in 2 currencies and settle deposits and withdrawals in 2 days.

Our verdict · Real stock investing

Saxo is better than CMC Markets for real stock investing in the UK, because it lets you own bonds and funds outright next to ETFs and shares, adds options and futures trading and offers more tradable symbols (71,000 against 12,000). Saxo charges 0.02 USD on US stocks. CMC Markets offers MetaTrader 4, MetaTrader 5 and TradingView alongside a proprietary trading platform, and works as a copy and social trading service. Saxo and CMC Markets are both regulated in the UK by the FCA. Both let you own ETFs and shares outright, ask for no minimum deposit, offer a demo account, hold the account in 2 currencies and settle deposits and withdrawals in 2 days.

Scores, winners and data below compare these brokers as CFD brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.

CMC Markets

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. StocksStocks This broker lets you buy real assets that you own outright. Switch the comparison to Stocks to rate it on that. Regulated in your country CMC Markets holds a licence from the regulator of the country this site is for, so local investor protections apply.
CMC Markets review ›
84CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above. 78StocksOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

78% of retail investor accounts lose money when trading CFDs with this provider.

Best overall Best overall

Saxo

CFDCFD This broker offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD to rate it on that. StocksStocks This broker lets you buy real assets that you own outright. Switch the comparison to Stocks to rate it on that. Regulated in your country Saxo holds a licence from the regulator of the country this site is for, so local investor protections apply.
Saxo review ›
89CFDOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above. 89StocksOverall score InvestinGoal score from 0 to 100, calculated from the data in this comparison across 12 areas (regulation, safety, costs, platforms and more). CFD and stock trading are scored separately: the number follows the side selected above.
Open Account

65% of retail investor accounts lose money when trading CFDs with this provider.

Best for

What we compare A comparison of the kinds of traders CMC Markets and Saxo are best suited to, based on what each one actually offers in United Kingdom.
1 / 12

Saxo is better than CMC Markets for day traders, futures traders and options traders. Both are a good fit for long-term investors, high-volume traders and scalpers.

Best for
Overall score CMC Markets 84 -5 78 -11 Saxo 89 Best 89 Best
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise CMC Markets and the ones that supervise Saxo.
2 / 12

CMC Markets and Saxo are both regulated in the UK, by the FCA.

Regulation
Section score CMC Markets 100 100 Saxo 100 100
Tier-1 regulators
ESMA (European Union) i
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that CMC Markets and Saxo have in place to protect your money in United Kingdom.
3 / 12

Both CMC Markets and Saxo offer segregated client funds and an investor compensation scheme. Saxo is also a licensed bank.

Safety
Section score CMC Markets 95 95 Saxo 93 -2 93 -2
Company info
Is it publicly traded i
Is it a bank i
Year founded i 1989 1992
Parent company i CMC Markets plc Saxo Bank A/S
CEO i Peter Cruddas Kim Fournais
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i NatWest, Barclays, Lloyds Citibank
Brand power
Number of customers worldwide i 1,000,000 1,200,000
Annual revenue i USD 324,700,000 USD 727,595,340
Monthly website search traffic i 10.5M monthly visits 1.7M monthly visits

Costs

What we compare A comparison of what it costs to trade with CMC Markets and with Saxo in United Kingdom, both on each trade and on holding the account.
4 / 12

Saxo is better than CMC Markets for CFD costs, since Saxo does not charge forex commissions (against CMC Markets' 5 USD per lot), and does not charge inactivity fees, unlike CMC Markets. Neither CMC Markets nor Saxo charges account maintenance fees or deposit fees.

Saxo is better than CMC Markets for real stock costs, given that Saxo does not charge inactivity fees, unlike CMC Markets. Neither CMC Markets nor Saxo charges account maintenance fees or deposit fees.

Costs
Section score CMC Markets 73 -8 44 -27 Saxo 81 Best 71 Best
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i USD 5 Free
EUR/USD average standard spread i
0.7 pips
0.7 pips
EUR/USD average raw spread i
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 7 USD 7
S&P 500 fees (CFD) i 0.5 points 0.5 points
Gold fees (CFD) i 0.2 points 0.25 points
Bitcoin fees (CFD) i
US stocks fees (CFD) i USD 0.02 USD 0.02
Fees on stocks
Stock fee type i Commission, Percentage
US stocks fees (real) i USD 0.02
ETF fees (real) i USD 0.02
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i USD 3
Platform fees i
Fees on options
Options fees per contract i Free USD 2
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with CMC Markets and with Saxo in United Kingdom, and of how many instruments each one gives access to.
5 / 12

Saxo is better than CMC Markets for CFD markets, given that Saxo gives access to 71,000 tradable symbols (against CMC Markets' 12,000), lets you own bonds and funds outright, which CMC Markets does not, and offers futures on commodities, forex and indices, which CMC Markets does not. Both CMC Markets and Saxo offer CFDs on commodities, crypto, forex, indices and stocks, and let you own ETFs and stocks outright.

Saxo is better than CMC Markets for real stock markets, given that Saxo lets you own bonds and funds outright, which CMC Markets does not, gives access to 71,000 tradable symbols (against CMC Markets' 12,000), and offers futures on commodities, forex and indices, which CMC Markets does not. Both CMC Markets and Saxo let you own ETFs and stocks outright, and offer CFDs on commodities, crypto, forex, indices and stocks.

Available markets
Section score CMC Markets 75 -25 30 -70 Saxo 100 Best 100 Best
Total tradable symbols i 12,000 71,000
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, Forex, Indices, Stocks Commodities, Crypto, Forex, Indices, Stocks
Futures i Commodities, Forex, Indices
Options i Commodities, Forex, Indices
Assets you can own i ETF, Stocks Bonds, ETF, Funds, Stocks

Platform

What we compare A comparison of the trading platforms that CMC Markets and Saxo make available to their clients in United Kingdom.
6 / 12

CMC Markets is better than Saxo for platforms, given that CMC Markets offers MetaTrader 5, MetaTrader 4 and copy trading, which Saxo does not. CMC Markets and Saxo both offer a proprietary platform and social trading.

Platform
Section score CMC Markets 97 Best 97 Best Saxo 86 -11 86 -11
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of CMC Markets and Saxo in United Kingdom, and of what each one lets you do from your phone.
7 / 12

Saxo is better than CMC Markets for mobile trading, as Saxo offers mobile trading signals, mobile charting tools and mobile drawing tools, which CMC Markets does not. CMC Markets and Saxo both offer a proprietary mobile app and mobile price alerts.

Mobile
Section score CMC Markets 73 -14 73 -14 Saxo 87 Best 87 Best
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that CMC Markets and Saxo allow on their platforms in United Kingdom.
8 / 12

Saxo is better than CMC Markets for CFD trading features, as Saxo offers tier-1 liquidity providers, VPS hosting and API access, which CMC Markets does not. Both CMC Markets and Saxo offer negative balance protection and trailing stops.

Saxo is better than CMC Markets for real stock trading features, because Saxo offers tier-1 liquidity providers and API access, which CMC Markets does not. CMC Markets and Saxo both offer trailing stops.

Trading features
Section score CMC Markets 69 -16 71 -6 Saxo 85 Best 77 Best
Trade execution
Broker type i Agency NDD
Average execution time i 9 ms 12 ms
Slippage occurrence i 20.7%
Requotes occurrence i 0.08%
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1 30:1
Minor/Exotic FX pairs leverage i 20:1 20:1
Major indices leverage i 20:1 20:1
Minor indices leverage i 10:1 10:1
Gold leverage i 20:1 20:1
Commodities leverage i 10:1 10:1
Equities leverage i 5:1 5:1
Cryptocurrency leverage i
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at CMC Markets and at Saxo in United Kingdom, and of who each one is meant for.
9 / 12

CMC Markets and Saxo are equally good for CFD account types, since CMC Markets offers a professional traders account and an unlimited demo account while Saxo offers a managed account and a raw spread account. Both CMC Markets and Saxo offer a demo account and a corporate account.

Saxo is better than CMC Markets for real stock account types, as Saxo offers a stock investing account, a managed account and a savings account, which CMC Markets does not. CMC Markets and Saxo both offer a demo account and a corporate account.

Account types
Section score CMC Markets 48 45 -38 Saxo 46 -2 83 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with CMC Markets and with Saxo in United Kingdom.
10 / 12

CMC Markets and Saxo are equally good for account opening, as both offer credit cards and debit cards. Neither CMC Markets nor Saxo requires a minimum deposit.

Account opening
Section score CMC Markets 65 65 Saxo 65 65
Minimum deposit i USD 0 USD 0
Minimum withdrawal i USD 0 USD 0
Wire transfers i
Credit cards i
Debit cards i
eWallets i
Local payment methods i
Account base currencies i EUR, USD EUR, USD
Deposit waiting time i up to 2 business days up to 2 business days
Withdrawal waiting time i up to 2 business days up to 2 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of CMC Markets and Saxo in United Kingdom, in how it can be reached and how fast it answers.
11 / 12

Saxo is better than CMC Markets for customer care, as Saxo offers customer support in 15 languages (against CMC Markets' 9), and has a website in 12 languages (against CMC Markets' 9). CMC Markets and Saxo both offer a dedicated account manager and phone support.

Customer care
Section score CMC Markets 73 -14 73 -14 Saxo 87 Best 87 Best
Number of languages supported i 9 15
Website languages i German, English, French, Italian, Norwegian, Polish, Spanish, Swedish, Chinese Arabic, Danish, English, French, Hungarian, Italian, Dutch, Norwegian, Polish, Russian, Slovenian, Chinese
Website available in English i
Customer support languages i German, English, French, Italian, Norwegian, Polish, Spanish, Swedish, Chinese Arabic, Czech, German, English, Finnish, French, Hungarian, Italian, Dutch, Norwegian, Polish, Russian, Slovenian, Spanish, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that CMC Markets and Saxo provide to their clients in United Kingdom.
12 / 12

CMC Markets and Saxo are equally good for learning, as both offer education for advanced traders and webinars.

Learning
Section score CMC Markets 100 100 Saxo 100 100
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
CMC Markets
Open Account 78% of retail investor accounts lose money when trading CFDs with this provider.
Saxo
Open Account 65% of retail investor accounts lose money when trading CFDs with this provider.
Our verdict

CMC Markets vs Saxo: which one should you choose?

CMC Markets

CFD Choose CMC Markets if you want an online CFD broker with several trading platforms, fast execution and copy and social trading.

Stocks Choose CMC Markets if you want a stockbroker with a choice of trading platforms and copy and social trading.

Open Account 78% of retail investor accounts lose money when trading CFDs with this provider.
Saxo

CFD Choose Saxo if you want a CFD and forex broker with a wide choice of markets, room for automated strategies and conditions for high-volume trading.

Stocks Choose Saxo if you want a broker for securities investing with a wide choice of markets and options and futures trading.

Open Account 65% of retail investor accounts lose money when trading CFDs with this provider.

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