Best Saxo Bank Alternatives
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 |
WARNING
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
WARNING
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.
About the Author
Anthony Gallagher
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
