Saxo Bank vs XTB: Comparison and Analysis

Saxo Bank vs XTB: A Comprehensive Comparison Summary

Security

When it comes to security, both brokers prioritize the safety of client funds and are regulated by reputable authorities. Saxo Bank is regulated by FCA, ASIC, MAS, FINMA, JFSA, and HKSFC, while XTB is regulated by CySEC, FCA, KNF, IFSC, DFSA, and FSCA. Both brokers have a security rating of 95.

Winner: Tie

Demo Accounts

For traders who want to test the platforms before committing real funds, both brokers offer demo accounts. Saxo Bank provides a demo account with a duration of 20 days and virtual funds of $100,000. While the funds cannot be restored, you can open multiple Saxo Bank demo accounts with the same email.

XTB offers a demo account with a duration of 30 days and virtual funds of $100,000. The virtual funds for the XTB demo account can be restored by contacting customer support, as well as renewed indefinitely.

Winner: XTB

Account Opening

When it comes to account opening, Saxo Bank requires a minimum deposit of $500, which can vary depending on the country and account type chosen. Saxo Bank offers over 20 account currencies, including EUR, USD, GBP, and AUD. Payment methods accepted by Saxo Bank include bank transfer, credit/debit cards, and e-wallets. Saxo Bank offers a variety of accounts, including Classic, Platinum, VIP, and Corporate accounts.

XTB, on the other hand, does not require a minimum deposit to open an account. Account currency options include GBP, EUR, and USD. XTB accepts wire transfers, credit/debit cards, and e-wallets as payment methods. XTB offers Standard, Islamic, and Professional accounts for advanced traders.

Winner: XTB

Social-Copy Trading

If you are interested in social or copy trading features, Saxo Bank does not offer social-copy trading functionalities. XTB also does not provide any kind of social and copy trading features.

Winner: Tie

Markets

In terms of available markets, Saxo Bank offers a wide range of options. Saxo Bank provides access to 180 forex pairs, 70 commodities, 37 indices, 0 crypto assets, over 5,000 bonds, more than 19,000 stocks, 3,000+ ETFs, and 10 futures. Saxo Bank offers only CFD assets, making it more suitable for short-term investing.

XTB offers 57 forex pairs, 27 commodities, 30 indices, 46 crypto assets, over 5,000 stocks, and 500+ ETFs. Every XTB asset is offered as a CFD, but XTB also offers real stocks and ETFs for EU clients.

Winner: Saxo Bank

Trading Fees

Both Saxo Bank and XTB have variable spreads. Saxo Bank offers spreads from 0.3 pips on forex, while XTB provides spreads from 0.3 pip on forex, which is below the market average. Saxo Bank charges commissions for stock trading, with commissions starting from 0.1% for EU stocks. XTB offers zero-commission real stocks and ETFs for European traders on a monthly volume of up to EUR 100,000, with a commission of 0.2% (10 EUR minimum) for amounts above that.

Winner: XTB

Platforms

Saxo Bank provides two proprietary trading platforms: SaxoTraderGO, a standard platform, and SaxoTraderPRO, an advanced platform with API connectivity and multi-screen trading capabilities. Both platforms are available for desktop and mobile devices.

XTB offers the xStation proprietary platform, which is accessible via web and mobile devices. The xStation platform is user-friendly and intuitive.

Winner: Saxo Bank

Education/Customer Care

Both brokers offer educational resources and customer care support. Saxo Bank provides clients with access to webinars, articles, videos, trading guides, and a trading academy. Customer care is easily accessible via email, phone, and live chat, with dedicated account managers available for high-net-worth clients.

XTB is well-equipped with educational materials, including FAQs, blog articles, ebooks, trading videos, and seminars. Customer care is easily accessible via phone, email, and live chat.

Winner: Tie

Conclusion

In conclusion, Saxo Bank and XTB have their respective strengths and weaknesses. Saxo Bank offers a wide range of markets and trading platforms, making it suitable for experienced traders. On the other hand, XTB provides a commission-free offering for real stocks and ETFs, a no minimum deposit requirement, and an extended demo account duration.

Winner: XTB