Best Saxo Bank Alternatives

filippo ucchino Filippo Ucchino calendar Last Updated: March 2022 timer 4 min read

Saxo Bank is a Danish investment bank that was created in 1992 and offers online trading and investment services.

Saxo Capital Markets, which has been operating in the UK since 2006, is a forex and CFD trading broker that provides traders with access to major markets such as currencies, indices, commodities, and equities.

Saxo Capital Markets provides trading and investment solutions to more than 300 banks, brokers, and financial service providers worldwide.

You can learn more about the broker in our Saxo Bank review.

Brokers differ in a variety of ways, which implies that they may be appropriate for various persons. Therefore, you many look for Saxo Bank alternatives in your quest for forex broker.

Here you can look at why we have chosen such brokers as an alternative to Saxo Bank:

Saxo Bank Alternatives Alternative for: Minimum Deposit
IG Markets Total number of assets, Unlimited demo account $250
CMC Markets Total number of assets, Unlimited demo account $0
Plus500 Total number of assets, Unlimited demo account $100
AvaTrade Fixed spreads, Spread Betting account $100
eToro Real Crypto&Stock trading, Social-Copy trading $200
Pepperstone Low spread, Scalping $0
Degiro Real Stocks&ETFs trading $0.01
Admiral Markets Low spread, Total number of assets $1
Axi Low Spread, Spread Betting $0
EasyMarkets Deal cancellation, Fixed spread $25


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Table of contents

Saxo Bank Unlimited Demo Account Alternatives

Saxo Bank has a lot to offer if you wish to increase your financial knowledge, such as a demo account.

You can use a demo account to familiarize yourself with Saxo’s trading platform works.

You can also checkout the top 10 best forex demo account.

Broker Demo Trial Minimum Deposit
IG Markets unlimited $250
CMC Markets unlimited $0
Plus500 unlimited $100
eToro unlimited $200
EasyMarkets unlimited $25

Saxo Bank Low Spread Alternatives

Saxo Bank provides both fixed and variable spreads. Variable spreads are constrained by their very nature. These will be around 0.5 pips, but fixed spreads on the USD or EUR are regularly up to 2 pips.

You may also checkout the top 10 lowest spread forex brokers.

Broker Minimum Deposit Avg. Spread EUR/USD
IG Markets $250 0.6 pips
CMC Markets $0 0.7 pips
Plus500 $100 0.6 pips
Pepperstone $0 0.09 pips
Admiral Markets $1 0.5 pips
Axi $0 0.2 pips

Saxo Bank Stock Trading Alternatives

Saxo Bank offers over 19000 stocks from the globe, providing you with the investment portfolio diversiication. However, it comes with a high cost.

Below you can check best brokers for stock trading.

Broker Real Shares Number of Shares Commissions
IG Markets No More than 12.000 From $3
CMC Markets Yes (Australian traders only) More than 4.900 Low costs
eToro Yes More than 950 Free
Degiro Yes More than 50 stock exchanges Free
Admiral Markets Yes (not to Australian traders) More than 4.500 From $0.02 per share

Choosing a Saxo Bank Alternative: main perks and characteristics

Saxo Capital Markets is a great choice for advanced traders and professionals with well-funded accounts.

Stocks, funds, CFDs, futures, bonds, and spreads are among the instruments offered by the company. With branches in 13 countries and its headquarters in Copenhagen, the investment bank has established a presence in 180 countries.

Saxo’s commitment to providing clients with high-quality research is admirable. It is the gold standard in the world of online FX brokerage.

Saxo designed its trading platforms, SaxoTraderPRO and SaxoTraderGO, with traders requirements in mind, giving significant improvements over industry standard MT4 and competitor products.

Besides, the broker offers competive forex spreads starting from 0.2 on EUR/USD.

Take a look at our detailed Saxo Bank review for more information

What is Saxo Bank missing?

Saxo Capital Markets isn’t flawless, and neither is any other broker. While they have a lot of advantages, there are a lot of reasons why you might want to look for an alternative to Saxo Capital Markets.

You can check our list of top 10 best forex brokers to know what are the best brokers in the world.

Here’s what Saxo Bank is missing:

Saxo Bank Alternatives Comparison


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Feature Minimum Deposit Proprietary Platform Fixed Spreads Execution Real assets
Saxo Bank $500 Yes No STP/Market Maker Yes
IG Markets $250 Yes No Market Maker No
CMC Markets $0 Yes No DMA Yes (Australia only)
Plus500 $100 Yes No Market Maker No
AvaTrade $100 Yes Yes Market Maker No
eToro $200 Yes No STP Yes
Pepperstone $0 No No STP/ECN No
Degiro $0.01 Yes No ECN Yes
Admiral Markets $1 No No STP Yes
Axi $0 No No ECN No
EasyMarkets $25 Yes Yes Market Maker No

Saxo Bank Alternatives FAQ

What is Saxo Bank’s best alternative?

IG Markets is the best alternative to Saxo Bank. Down to specific matters, IG Markets is best for an unlimited demo account while Pepperstone is better for low spreads. On the other hand, stock broking is better with Degiro having the greatest pool and also real assets.

74-89% of retail CFD accounts lose money

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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