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Oanda vs Saxo Bank: Comparison and Analysis

Trying to figure out whether to use Oanda 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 Oanda 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
CFDs are not available to residents in the United States
Oanda review
Open Account
72% of retail investor accounts lose money
Saxo Bank review

Overall Ratings


Rated
80
Rated
81

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

  • Oanda
  • Saxo Bank

Security 94
Security 95

Cost 73
Cost 67

Trading 71
Trading 75

Education 80
Education 76

Company Info


Foundation
1996
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, de, es, fr, ru, it, chi
en, ar, chi(t/s), dan, fr, hu, ne, nor, pol, ru, slo, it, swi, sg

Leverage


Non-EU Leverage ?
50:1
400:1
European Leverage ?
30:1
30:1
Australian Leverage ?
30:1
30:1
US Leverage ?
50:1
0
Canadian Leverage ?
50:1
400:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
IIROC ?
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
10515
1601127
SimilarWeb - Total Visits
8370000
Facebook Likes
66508
179040
Twitter Likes
18400
30500
Instagram Likes
562
2911

Deposit and Withdrawal


Minimum Deposit ?
2000 USD
Minimum Withdraw ?
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Maestro, Carte Bleue, Dankort
Deposit Waiting Time ?
1-2 business days
1-2 business days
Withdraw Waiting Time ?
1-2 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 ?
3.0
Natural Gas ?
0.6
Silver ?
277.0
13.0
Platinum ?
833.4
Copper ?
Soybeans ?
1.0
Corn ?
2.0
Gold ?
205.6
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
0.1
0.6
USD/JPY Average Spread
0.2
0.6
USD/CHF Average Spread
0.2
0.7
GBP/USD Average Spread
0.2
0.7
USD/CAD Average Spread
0.2
2.3
AUD/USD Average Spread
0.2
1.0
NZD/USD Average Spread
0.2
1.7
EUR/GBP Average Spread
0.2
1.8

Fees on Stocks


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

Fees on Indices


FTSE100
0.8
S&P500
0.3
Dow Jones
Nasdaq
0.5
CAC40
1.2
DAX30
0.9
Nikkei 225
Euro Stoxx 50
0.9

Fees on Cryptocurrencies


Bitcoin
0
0
Ethereum
0
0
Ripple
0
0
Litecoin
0
0
Bitcoin Cash
0
0
Dash
0
0
Monero
0
0
Neo
0
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, ru, ko, chi
en, ar, cz, de, es, fi, fr, hu, ne, nor, pol, ru, slo, it, chi
Watchlist Mobile ?

Available Markets


Forex Pairs ?
55
180
Crypto ?
55
180
Commodities ?
31
70
Stocks ?
19000
Indices ?
16
ETF ?
3000
Futures ?
10
Options ?
Bonds ?
6
5000
Metal ?
5
4
Agricultural ?
4
Energies ?
3
2
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?

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 ?
0.00001 lots
0.001 lots
Maximum Trade Size ?
100 lots
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 ?
51
47
Number Chart Drawing Tools ?
31
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, de, es, ru, chi
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

Oanda vs Saxo Bank: A Comprehensive Comparison

When it comes to selecting a broker, traders are always on the lookout for the best value proposition, including security, fees, markets, platforms, education, and customer care. In this article, we will compare two well-established and popular brokers, Oanda and Saxo Bank, on various parameters.

Security

Both Oanda and Saxo Bank are highly regulated brokers. Oanda is regulated by ASIC, MAS, FSA, FCA, NFA, IIROC, BVI, and the NFA in the USA, making it a suitable choice for US traders. On the other hand, Saxo Bank is regulated by FCA, ASIC, MAS, FINMA, JFSA, HKSFC. In terms of security rating, Saxo Bank slightly edges out Oanda, with a security rating of 95 compared to Oanda’s rating of 94.

Demo Accounts

Oanda offers unlimited demo accounts with $100,000 in virtual funds. The virtual funds can be restored by contacting customer support. Saxo Bank’s demo account has a 20-day duration, and traders can open multiple demo accounts with the same email. However, the virtual funds cannot be restored.

Account Opening

Oanda requires no minimum deposit, and traders can choose from seven account currencies. Payment methods include wire transfers, credit/debit cards, and eWallets. Oanda offers various account types, including Standard, Premium, Core, Spread Betting, and Professional for advanced traders. Saxo Bank, on the other hand, requires a minimum deposit of $500, with over 20 account currencies available. Payment methods include bank transfers, credit/debit cards, and e-wallets. Saxo Bank offers a range of accounts, including Classic, Platinum, VIP, and Corporate accounts.

Social-Copy Trading

Oanda offers social-copy trading, allowing traders to engage in social trading through third-party platforms like TradingView. Additionally, traders can use the EAs on the MT4 and MT5 platforms to engage in copy trading. Saxo Bank does not offer social-copy trading.

Markets

Oanda offers a decent range of markets, including Forex, Commodities, Indices, Crypto assets, Stocks, ETFs, and Bonds. In contrast, Saxo Bank offers a much broader range of markets, including Forex, Commodities, Indices, Bonds, Stocks, ETFs, and Futures. However, Saxo Bank offers only CFD assets, making it more suitable for short-term investing rather than long-term.

Trading Fees

Oanda’s spreads are variable, starting from 1.2 pips on Forex, which is above the market average. However, there are no commissions on stock trades for EUR accounts. Saxo Bank’s spreads are variable, starting from 0.3 pips on Forex, making it more competitive than Oanda.

Platforms

Oanda offers the Oanda Trade Platform, which is available via desktop, web, and mobile. It also offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Saxo Bank offers SaxoTraderGO, which is its standard proprietary trading platform, and SaxoTraderPRO, an advanced proprietary trading platform that can be connected with APIs and algo trading. Saxo Bank’s platforms are more advanced and cater to multi-screen trading.

Education and Customer Care

Oanda offers a range of educational materials, including technical and fundamental analysis tutorials, webinars, and events. Customer care is available via phone, email, and live chat.

Saxo Bank also provides clients access to webinars, articles, videos, trading guides, and a trading academy. Customer care is easy to contact via email, phone, and live chat, with dedicated account managers available for high-net-worth clients.

Conclusion

Overall, both Oanda and Saxo Bank are reputable brokers with a high level of regulation and security. Oanda is a suitable choice for beginner to intermediate traders with no minimum deposit requirement, unlimited demo accounts, and a decent range of markets. On the other hand, Saxo Bank caters more to advanced traders, with more sophisticated platforms, a broader range of markets, and a lower cost structure.

Better Informed
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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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