Saxo Bank vs Trade Nation - Fees Review included
Which broker is better Saxo Bank or Trade Nation? Our expert assessment conducted according to TU’s own methodology showed that Saxo Bank is one of the top brokers in the financial market with the TU Overall Score of 7.04 out of 10. Trade Nation is one of the top brokers in the financial market with the TU Overall Score of 7.34 out of 10. Find out more about TU Overall Score.
Feature | Saxo Bank | Trade Nation |
---|---|---|
Overall |
4.5 |
2.8 |
4.8 |
3.8 |
|
4.6 |
3.2 |
|
5 |
3.6 |
|
Investment Instruments |
4.2 |
1.7 |
Platforms and Charting Tools |
4.6 |
1.9 |
Deposit and Withdrawal |
4.0 |
2.4 |
Research |
5 |
3.6 |
Education |
3.6 |
1.5 |
Support |
4.4 |
2.3 |
Bonuses |
3.6 |
3.9 |
|
|
Saxo Bank vs Trade Nation: Pros and Cons
The SaxoBank brokerage company was founded in 1992 under the original name Midas. In 2001, the broker was licensed by the FSA, a Danish Financial Supervisory Authority. After that, the company changed its name to SaxoBank. Today the broker provides online access to various financial markets to clients from 170 countries. The broker's divisions also have licenses from FCA (UK), ASIC (Australia), and licenses from other regulators.
Trade Nation is an STP broker with its head office in London. It works with traders of the European and Asian regions. The company belongs to the classical medium-tier brokers with a standard set of trading assets and instruments. Its regulators are: FCA (UK), ASIC (Australia), FSCA (South Africa), and SCB (Bahamas).
Saxo Bank | Trade Nation | |
---|---|---|
Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | Availability of licenses from four regulators. This indicates that the broker is subject to constant review by auditors with diverse requirements. |
over 71 thousand instruments for trading | Segregation of client accounts. Traders' money is deposited into separate accounts at Barclays bank. | |
the opportunity to invest in ready-to-use long-term portfolios managed by professionals | Relatively narrow fixed spreads. | |
Proprietary trading platform that complements MT4. | ||
There's an online Trade Nation community of traders that shares information, knowledge, and trading strategies, all of which raise members’ professional trading skills. | ||
Overall Cons | Cent accounts are not available | A small selection of payment systems. The broker works mainly through the banks. |
a ban on algorithmic trading for traders from abroad | There is a minimum withdrawal amount. | |
you cannot contact support in the online chat on the company's website (The chat is available only after full registration on the broker’s website and passing KYC). | Support service in the chat and via email is unprofessionally slow in responding to your inquiries. |
Saxo Bank vs Trade Nation: Safety and Regulation
Regulated By: | Saxo Bank | Trade Nation |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
DFSA (Denmark) , and other European regulators |
FSCA (South Africa), SCB (Bahamas). |
Saxo Bank vs Trade Nation: Trading Conditions
Trading Conditions | Saxo Bank | Trade Nation |
---|---|---|
Minimum Deposit |
$0 |
$1 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
МТ4, Trade Nation proprietary terminal |
Max Leverage (Futures) |
1-30 |
1-200 |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Currency pairs, commodities, and stock markets assets |
Trading assets |
71000+ |
2090+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Standard Account, Low Leverage, High Leverage, Islamic Account, and Demo Account. |
Base Account Currencies |
USD, EUR |
GBP, USD, EUR, AUD, ZAR, DKK, NOK, and SEK |
Saxo Bank vs Trade Nation: Fees
Forex Trading Fees
Fee | Saxo Bank | Trade Nation |
---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
0.6 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
Fee | Saxo Bank | Trade Nation |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating and fixed spreads |
Non-Trading Fees
Fee | Saxo Bank | Trade Nation |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Saxo Bank vs Trade Nation: Trading Assets
Asset Name | Saxo Bank | Trade Nation |
---|---|---|
Overall |
71000+ |
2090+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
No |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes |
Yes |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
No |
Saxo Bank or Trade Nation: Investment Programs
Asset Name | Saxo Bank | Trade Nation |
---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: Trade Nation or Saxo Bank
Saxo Bank | Trade Nation | |
---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
Trade Nation |
Others |
No |
No |
|
|
Saxo Bank vs Trade Nation: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Saxo Bank | Trade Nation |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
No |
Saxo Bank vs Trade Nation: Research
Research Type | Saxo Bank | Trade Nation |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Saxo Bank vs Trade Nation: Education
Education Type | Saxo Bank | Trade Nation |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
No |
Yes |
Videos |
No |
No |
Cent account |
No |
No |
Trade Nation vs Saxo Bank: Support
Support Features | Saxo Bank | Trade Nation |
---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
Saxo Bank vs Trade Nation: Forex Bonuses and Promo
Promo | Saxo Bank | Trade Nation |
---|---|---|
Forex Bonus |
No |
The Trade Nation loyalty program awards points for every trade executed. In the future, the points can be exchanged for compensation of trading expenses up to 20%. Also, the broker gives 1,000 points to everyone who opens a real account and gets verified. Due to regulatory restrictions, the loyalty program does not work for traders from the UK and Australia. |
Affiliate Program |
“Member gets member” represents a remuneration accrual for attracting new clients who have replenished a trading deposit at least once. When replenishing from $10,000, the partner gets $500; from $200,000 - $1,000; from $1,000,000 - $3,000 |
The variants of partnership programs include: Revenue share plan. The partner receives a percentage of the income that referrals receive at the expense of the spread paid by them; CPA plan. A partner gets a fixed payment for each attracted client following verification; Hybrid plan. This program combines the advantages of both variants and allows you to receive a certain percentage of interest and a fixed fee based on the trades of the referee. |
Other Promos |
Accrual of points for account replenishment and qualified transactions. Once you have collected enough points, you will be promoted to a higher account level, allowing you to improve your trading conditions. |
|
|
|
Top 5 Reviews on Trade Nation
-
Comment
Payments at Trade Nation are exact. I have withdrawn a couple of times. Of course, the amounts were small, but I didn’t hear any complaints about large ones either. So I recommend the broker.
-
Comment
Traded with Trade Nation a few years ago. There is no decency here, guys. If you still decide to trade here, read the regulations very, very carefully. They can find a lot of violations in your trading and take your money. These are scammers.
-
Comment
In short, this is a scam company. We do. what do we want and what will you do for us? Due to a malfunction in the chart, I did not close a number of positions. Similar positions with two other brokers closed at the same time at the same time. This is a scam, I do not recommend!
-
Comment
People, do not even allow the thought to mess with these Fraudsters with a capital letter. Very cruel, psychologically trained nonhumans! By deceit they will pull everything to the penny, merge it! And you will be blamed for everything. I personally experienced all their psychological tricks.
-
Comment
As for me, it's nothing special. A typical broker with no deposit requirements who earns on spread markup. It does not charge any additional fees, including for making a deposit and withdrawing funds. Trade Nation has a loyalty program. According to its terms, for each closed transaction, the broker accrues some points, which can then partially cover trading commissions. If you wish, you can quickly get used to the author's Trade Nation terminal, because its interface is similar to MetaTrader. But the broker also offers MT4, so you can trade with it and not bother. Trade Nation is regulated in several jurisdictions, which is good, but it does not offer a choice of accounts, which is a minus.
Top 5 Reviews on Saxo Bank
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank is well-known due to its technological solutions for online trading. So I decided to try it. Its SaxoTraderGO platform offers a wide range of features, including charts and analytical instruments, fast order execution, and access to real-time market data. However, SaxoTradePRO was too complicated for me. The broker offers a wide range of financial instruments. And you can use one platform to work on global stock exchanges and to trade CFDs and Forex. The minimum fee for trading stocks is $1.
-
Comment
Saxo Bank provides a personalized approach to client services and offers a wide range of financial services that include asset management and consulting. Moreover, it provides high-quality educational materials and market research that help me make informed investment decisions. I participated in webinars several times and also listened to podcasts with Saxo Bank experts. I use SaxoTraderGO for trading and SaxoInvestor for long-term investment.
-
Comment
Saxo Bank is a broker with favorable conditions, offering over forty thousand trading instruments, ready-made portfolios, and a professional platform. However, for novice traders, the conditions of this broker may be challenging. Saxo Bank requires a high initial deposit, floating spreads, commissions depending on trading volumes, and maximum leverage up to 1:40. I think this broker is more suitable for experienced traders.
-
Comment
Being a licensed bank and broker, Saxo Bank complies with strict security and regulation standards. These include client data protection, transaction transparency, and compliance with financial rules. Money is transferred without delays or additional expenses, except for bank fees. Support in a live chat of the trading platform is prompt, and chat operators respond within 5 minutes. Personal consultations are available. Saxo Bank provides direct access to markets, therefore orders are always executed promptly.
- Quotex vs Saxo Bank
- Webull vs Saxo Bank
- eToro vs Saxo Bank
- Saxo Bank vs CMTrading
- Saxo Bank vs Eightcap
- Eightcap vs Saxo Bank
- Trading 212 vs Saxo Bank
- Pepperstone vs Saxo Bank
- Saxo Bank vs AMP Global
- Saxo Bank vs Spreadex
- Saxo Bank vs NinjaTrader
- Saxo Bank vs Fineco
- Saxo Bank vs Vantage
- Saxo Bank vs BlackBull Markets
- Saxo Bank vs Fullerton Markets
- Saxo Bank vs NAGA
- Saxo Bank vs City Index
- Saxo Bank vs Swissquote
- Saxo Bank vs IG
- Saxo Bank vs Dukascopy
- Saxo Bank vs CMC Markets
- Saxo Bank vs FP Markets
- Saxo Bank vs OctaFX
- Saxo Bank vs HotForex
- Saxo Bank vs TD Ameritrade
- Saxo Bank vs Fusion Markets
- Saxo Bank vs Plus500
- Saxo Bank vs Interactive Brokers
- Saxo Bank vs Forex.com
- Saxo Bank vs Kot4x
- Saxo Bank vs Libertex
- Saxo Bank vs RoboForex
- BDSwiss vs Saxo Bank
- XTB vs Saxo Bank
- Capital.com vs Saxo Bank
- FBS vs Saxo Bank
- AvaTrade vs Saxo Bank
- XM vs Saxo Bank
- IC Markets vs Saxo Bank
- Oanda vs Saxo Bank
- FxPro vs Saxo Bank
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.