Saxo Bank vs AMP Global - Fees Review included
Which broker is better Saxo Bank or AMP Global? 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. AMP Global is one of the top brokers in the financial market with the TU Overall Score of 5.18 out of 10. Find out more about TU Overall Score.
| Feature | Saxo Bank | AMP Global |
|---|---|---|
Overall |
4.5 |
4.2 |
4.8 |
4.8 |
|
4.6 |
4.4 |
|
5 |
4.3 |
|
Investment Instruments |
4.2 |
1 |
Platforms and Charting Tools |
4.6 |
4.6 |
Deposit and Withdrawal |
4.0 |
4.1 |
Research |
5 |
3.6 |
Education |
3.6 |
4.3 |
Support |
4.4 |
3.5 |
Bonuses |
3.6 |
2 |
|
|
Saxo Bank vs AMP Global: 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.
AMP Global is part of the AMP Global Group holding (Chicago, USA). The European subsidiary was established in 2010 to provide services outside North America. The broker is registered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC). AMP Global is a member of the Investor Compensation Fund and pays great attention to the safety of clients' funds. Separate accounts in European banks are used for their storage of deposits, which is completely separated from the authorized capital of the broker itself.
| Saxo Bank | AMP Global | |
|---|---|---|
| Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | Membership in the Investor Compensation Fund – acts as a guarantee to protect the client's interests in the event of a dispute; |
| over 71 thousand instruments for trading | US and EU Regulated broker | |
| the opportunity to invest in ready-to-use long-term portfolios managed by professionals | No restrictions on trading strategies | |
| Echange traded futures support, access to SME, EUREX, ICE and other exchanges | ||
| Low fees | ||
| Overall Cons | Cent accounts are not available | The minimum deposit is USD / EUR / GBP 100 |
| a ban on algorithmic trading for traders from abroad | No zero spreads | |
| 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). | There are no micro (cent) accounts | |
| No direct stock trading (Only CFDs) | ||
| Not a big choice of supported assets |
Saxo Bank vs AMP Global: Safety and Regulation
| Regulated By: | Saxo Bank | AMP Global |
|---|---|---|
US Regulation |
No |
Yes |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
DFSA (Denmark) , and other European regulators |
No |
Saxo Bank vs AMP Global: Trading Conditions
| Trading Conditions | Saxo Bank | AMP Global |
|---|---|---|
Minimum Deposit |
$0 |
$100 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
MT4, MT5, StereoTrader 2.5 based on MT5, web terminal |
Max Leverage (Futures) |
1-30 |
1-100 |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Currencies, cryptocurrencies, CFDs on indices, stocks, exchange futures, metals, energy |
Trading assets |
71000+ |
150+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Demo, Trading, Corporate, Islamic |
Base Account Currencies |
USD, EUR |
USD, EUR, GBP |
Saxo Bank vs AMP Global: Fees
Forex Trading Fees
| Fee | Saxo Bank | AMP Global |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
0.2 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 | AMP Global |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Saxo Bank | AMP Global |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$3 |
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 AMP Global: Trading Assets
| Asset Name | Saxo Bank | AMP Global |
|---|---|---|
Overall |
71000+ |
150+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes |
No |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
Yes |
Binary Options |
No |
No |
Saxo Bank or AMP Global: Investment Programs
| Asset Name | Saxo Bank | AMP Global |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: AMP Global or Saxo Bank
| Saxo Bank | AMP Global | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
StereoTrader 2.5 |
Others |
No |
No |
|
|
Saxo Bank vs AMP Global: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Saxo Bank | AMP Global |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
No |
Saxo Bank vs AMP Global: Research
| Research Type | Saxo Bank | AMP Global |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Saxo Bank vs AMP Global: Education
| Education Type | Saxo Bank | AMP Global |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
AMP Global vs Saxo Bank: Support
| Support Features | Saxo Bank | AMP Global |
|---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
Saxo Bank vs AMP Global: Forex Bonuses and Promo
| Promo | Saxo Bank | AMP Global |
|---|---|---|
Forex Bonus |
No |
No |
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 |
Yes |
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 AMP Global
-
Comment
Amp Global works stably and I haven’t noticed any major glitches. Support responds to requests, not instantly of course, but within a few hours. I deposited profits without problems during the day. There is a way to deposit and withdraw funds without fees. At the very beginning of my trading, I lost almost $800, but solely due to my stupidity. Now I’ve already restored everything, and even made a small profit. I recommend amp Global to everyone.
-
Comment
Previously, AMP Global worked fine. It was pleasant to collaborate with them, and trading was going smoothly. I don't know what happened, but now the broker has become downright awful. There are some new conditions where a seemingly successful trade can end up in a loss. Payment delays are becoming more frequent. And the support from AMP Global, that's a whole other problem. They may respond the next day or not respond at all. If six months ago I would have given them a solid four, now they wouldn't even get three points. I'm leaving the broker.
-
Comment
Everything was good, and there were no signs of trouble. I registered with AMP Global, the support was friendly and polite. However, when I started trading, I discovered many drawbacks. Firstly, there is a terrible quote divergence; it feels like they always change in the opposite direction as soon as I have a small profit. Also, it's hard not to notice the wide spreads, which can be as much as 20 points without any news releases. For a serious broker, this is very strange and suspicious.
-
Comment
I strongly advise against dealing with AMP Futures. Despite their claims to offer the best trading conditions in the financial markets, these statements are nothing but deception. Yes, AMP Futures is licensed by a regulator. Unfortunately, they professionally employ various manipulations to make traders lose their money during trading.
-
Comment
My attempts to make money with AMP Global ended in failure. I tried to trade honestly, but I found that constant interference in my trades made this impossible. AMP Global has a practice of canceling trades and adjusting quotes. Therefore, I would like to caution other traders and urge them to be careful when considering this company for financial trading.
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.
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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.