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eToro vs Saxo Bank: Comparison and Analysis

Trying to figure out whether to use eToro or Saxo Bank? This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.

We’ve compared more than 100 variables and features so you can see the pros and cons of eToro and Saxo Bank side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.

Scroll the whole post below, or use the quick menu to jump to the relevant section.

Open Account
76% of retail CFD accounts lose money
eToro review
Open Account
72% of retail investor accounts lose money
Saxo Bank review

Overall Ratings


Rated
77
Rated
81

General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.

  • eToro
  • Saxo Bank

Security 95
Security 95

Cost 70
Cost 67

Trading 67
Trading 75

Education 64
Education 76

Company Info


Foundation
2007
1992
Is it Regulated?
Is it Publicly Traded?
Is it a Bank?
Segregated Clients Funds ?
No-ESMA Branches? ?
Accepts EU Clients?
Accepts US Clients?
Accepts Canadian Clients?
Website Languages
en, ar, chi(t/s), cz, dan, de, es, fi, fr, ne, nor, pol, rom, ru, swe, thai, viet, mal, it
en, ar, chi(t/s), dan, fr, hu, ne, nor, pol, ru, slo, it, swi, sg

Leverage


Non-EU Leverage ?
30:1
400:1
European Leverage ?
30:1
30:1
Australian Leverage ?
30:1
30:1
US Leverage ?
1:1
0
Canadian Leverage ?
N/A
400:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
CIRO ?
SFC ?

Tier 2 Regulation


FMA ?
CBR ?
FSCA ?
SEC ?
DFSA ?
CBRC ?
CySEC ?
ISA ?

Tier 3 Regulation


Offshore ?
MMA (Maldives) ?
EDR ?
FSA (Seychelles) ?
SCB (Bahamas) ?
FSC (Mauritius) ?
VFSC (Vanuatu) ?
IFSC (Belize) ?
CIMA (Cayman Islands) ?
SVG (Saint Vincent and the Grenadines) ?
FSRC (St. Kitts & Nevis) ?
BMA (Bermuda) ?
BVI (British Virgin Islands) ?

Brand Power


SimilarWeb - Website Ranking
5529
1601127
SimilarWeb - Total Visits
22900
Facebook Likes
4691
179040
Twitter Likes
120000
30500
Instagram Likes
88000
2911

Deposit and Withdrawal


Minimum Deposit ?
2000 USD
Minimum Withdraw ?
30
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Rapid Transfer
Maestro, Carte Bleue, Dankort
Deposit Waiting Time ?
up to 5 business days
1-2 business days
Withdraw Waiting Time ?
up to 5 business days
1-2 business days
Bonus Program ?

Costs and Fees


Deposit Fees ?
Withdrawal Commissions ?
Overnight/Swap Fee ?
Inactivity Fee ?
Conversion Fee ?

Account Types


Demo Account ?
Demo Account Expiration ?
Account Currencies ?
USD
EUR, USD
Standard Account ?
Micro Account ?
Low-cost Account ?
Variable Spread Account ?
Fixed Spread Account ?
Zero Spread Account ?
ECN Account ?
Swap Free Account ?
Islamic Account ?
Professional Traders Account ?
Active Trader Program ?

Commodities


Crude Oil ?
5.0
Natural Gas ?
15.0
Silver ?
5.0
13.0
Platinum ?
35.0
Copper ?
4.0
Soybeans ?
50
Corn ?
130
Gold ?
45.0
12.0

Forex Fixed Spreads


EUR/GBP Spread
EUR/USD Spread
USD/JPY Spread
GBP/USD Spread
USD/CHF Spread
AUD/USD Spread
USD/CAD Spread
NZD/USD Spread

Forex Variable Spreads


EUR/USD Average Spread
1
0.6
USD/JPY Average Spread
1
0.6
USD/CHF Average Spread
1.5
0.7
GBP/USD Average Spread
2
0.7
USD/CAD Average Spread
1.5
2.3
AUD/USD Average Spread
1.0
1.0
NZD/USD Average Spread
2.5
1.7
EUR/GBP Average Spread
2
1.8

Fees on Stocks


Apple
0.0
3.0
Facebook
0.0
3.0
Alphabet
0.0
3.0
Snapchat
0.0
3.0
BP
0.0
5.00
Tesco
0.0
5.00
Barclays
0.0
5.00
Lloyds
0.0
5.00

Fees on Indices


FTSE100
1.5
S&P500
0.75
Dow Jones
Nasdaq
2.4
CAC40
1
DAX30
2
Nikkei 225
10
Euro Stoxx 50
3

Fees on Cryptocurrencies


Bitcoin
1,00%
0
Ethereum
1,00%
0
Ripple
1,00%
0
Litecoin
1,00%
0
Bitcoin Cash
1,00%
0
Dash
1,00%
0
Monero
1,00%
0
Neo
1,00%
0

Platforms


cTrader Desktop
cTrader Web
Mirror Trader
ZuluTrade ?
MT4 Dekstop
MT4 Web
MT5 Desktop
MT5 Web
Proprietary Desktop Platform
Proprietary Web Platform
MAC Platforms
Sirix

Mobile Trading


Android ?
iOS ?
Windows ?
Trading Signals on Mobile ?
Smart Watch App ?
Forex Trading ?
CFD Trading ?
Alerts ?
Chartings-Drawing Tools ?
Mobile Available Language ?
en, de, es, fr, it
en, ar, cz, de, es, fi, fr, hu, ne, nor, pol, ru, slo, it, chi
Watchlist Mobile ?

Available Markets


Forex Pairs ?
47
180
Crypto ?
47
180
Commodities ?
47
70
Stocks ?
957
19000
Indices ?
13
ETF ?
145
3000
Futures ?
10
Options ?
Bonds ?
5000
Metal ?
4
4
Agricultural ?
3
Energies ?
2
2
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
19
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?
Crypto, ETF, Stocks

Trading Execution


Direct Market Access (DMA) ?
Straigh Through Processing (STP) ?
Electronic Communication Network (ECN) ?
Market Maker ?
Non Dealing Desk (NDD) ?
FIFO Applies? ?
4 Digits Decimal Pricing ?
5 Digits Decimal Pricing ?

Risk Management


Stop Losses ?
Take Profits ?
Limit Orders ?
Trailing Stop ?
Margin Call ?
OCO Orders ?
Guaranteed Stop Loss ?
Negative Balance Protection ?
Minimum Trade Size ?
10$
0.001 lots
Maximum Trade Size ?
20% of the equity
100 lots

Special Trading Conditions


MAM ?
PAMM ?
Social Trading ?
Copy Trading ?
LAMM ?

Available Trading Techniques


Scalping ?
Hedging ?
Spread Betting ?
Expert Advisor (EA) ?
Virtual Private Server ?
API ?

Trading Tools


One-Click Trading ?
Signal Trading ?
Price Alerts ?
Number Chart Indicators ?
67
47
Number Chart Drawing Tools ?
14
17
Trade Directly From Chart ?
Watchlist ?

Education


Education Center ?
Webinars
Platform Tutorial Video ?
Video on Trading for Beginners ?
Video on Trading for Experts ?
Tutorial Guide
Glossary

Customer Support


Call Back Request ?
Email Support
Phone Support
Live Chat
Support Language Available
en, ru
en, ar, cz, de, es, fi, fr, hu, ne, nor, pol, ru, slo, it, chi

Research


Professional Reports
Social Trading Features - Social Feeds ?
Economic Calendar
Daily Email With Trading Ideas
Analysis From Trading Central (Recognia)
Analysis From Delkos Research
AutoChartist
Traders Sentiment ?
News via Twitter
News via FaceBook
Daily Market Commentary

eToro vs Saxo Bank: A Comparison Summary

When it comes to online brokers, two well-known names that often come up are eToro and Saxo Bank. While both have their own unique strengths and weaknesses, a comparison of the two can help investors decide which platform may be better suited to their needs. Here is a comparison summary of eToro vs Saxo Bank.

Security and Regulations

Saxo Bank is regulated by multiple top-tier financial authorities, including the FCA, ASIC, MAS, FINMA, JFSA, and HKSFC, and has a security rating of 95. Similarly, eToro is regulated by CySEC, ASIC, and FCA and has a security rating of 95. Both brokers adhere to strict security protocols to protect their clients’ funds.

Demo Account

Saxo Bank offers a demo account with a duration of 20 days and virtual funds of $100,000. However, the virtual funds cannot be restored once they are lost. On the other hand, eToro’s demo account is unlimited, and virtual funds of $100,000 can be restored by contacting customer support.

Account Opening

Saxo Bank requires a minimum deposit of $500, which may vary depending on the country and account type selected. They offer over 20 account currencies, and clients can deposit via bank transfer, credit/debit cards, and e-wallets. Similarly, eToro requires a minimum deposit of $200, and they accept wire transfers, credit/debit cards, and eWallets as payment methods. However, eToro only accepts USD as the account currency, which may not be ideal for clients depositing in other currencies.

Social-Copy Trading

eToro is renowned for its social-copy trading feature, which allows traders to copy the trades of successful investors. They provide this service via their proprietary platform, which is highly user-friendly and specialised in copy and social trading. Saxo Bank does not offer a copy-social trading feature.

Markets

Saxo Bank offers a broad range of CFD assets, including forex, commodities, indices, stocks, ETFs, futures, and bonds. However, they do not offer any crypto assets, which may be a disadvantage for traders interested in trading cryptocurrencies. In contrast, eToro offers a range of CFD assets and real assets, including forex, commodities, indices, stocks, ETFs, futures, options, and about 80 cryptocurrencies. This makes eToro an excellent option for both short-term and long-term investments.

Trading Fees

Saxo Bank’s spreads are variable, and their forex spreads start from 0.3 pips, which is relatively low compared to the market average. Similarly, eToro’s spreads are variable, and their forex spreads start from 1 pip, which is slightly above the market average. However, eToro offers zero-commission real stocks and ETFs for traders regulated by CySEC, FCA, and ASIC, with a minimum investment of just $10 (other commissions may apply on trading though).

Platforms

Saxo Bank offers two proprietary trading platforms: SaxoTraderGO and SaxoTraderPRO. SaxoTraderPRO is an advanced trading platform that can be connected with APIs and algo trading, and is suitable for multi-screen trading. eToro, on the other hand, offers a user-friendly proprietary platform that is specialised in copy and social trading.

Education/Customer Care

Both eToro and Saxo Bank offer high-quality educational resources, including webinars, articles, videos, trading guides, and trading academies. They also have dedicated account managers for high-net-worth clients. However, eToro’s customer care is easy to contact via email and live chat, while Saxo Bank offers customer care options via email, phone, and live chat.

Conclusion

In summary, both eToro and Saxo Bank are reputable online brokers with their own unique strengths and weaknesses. Saxo Bank may be a better option for traders interested in CFD assets, while eToro offers a wider range of assets, including real stocks, ETFs, and over 174 cryptocurrencies. eToro’s social-copy trading feature is also a standout feature, making it an excellent choice for those interested in following the trades of successful investors. Additionally, eToro’s unlimited demo account and lower minimum deposit requirement may be more attractive to beginner traders. Ultimately, the choice between the two platforms will depend on the individual needs and preferences of the investor.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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2FC Financial Srl
Via Filippo Argelati, 10,
Milan, Italy
20143

VAT No. IT10004450960
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