Saxo Bank vs NinjaTrader - Fees Review included
Which broker is better Saxo Bank or NinjaTrader? 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. NinjaTrader is one of the top brokers in the financial market with the TU Overall Score of 7.03 out of 10. Find out more about TU Overall Score.
| Feature | Saxo Bank | NinjaTrader |
|---|---|---|
Overall |
4.5 |
3.9 |
4.8 |
4.3 |
|
4.6 |
4.4 |
|
5 |
4.2 |
|
Investment Instruments |
4.2 |
1 |
Platforms and Charting Tools |
4.6 |
4.3 |
Deposit and Withdrawal |
4.0 |
4.6 |
Research |
5 |
4.1 |
Education |
3.6 |
4.3 |
Support |
4.4 |
4.2 |
Bonuses |
3.6 |
1 |
|
|
Saxo Bank vs NinjaTrader: 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.
Ninja Trader is a Forex broker that has been providing brokerage services in the derivatives and foreign exchange markets since 2003. The main specialization of the company is in the futures and futures options markets. The broker is a licensed company with domicile in the United States. Ninja Trader also has offices in Germany and the Netherlands, but these are more representative functions.
| Saxo Bank | NinjaTrader | |
|---|---|---|
| Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | availability of algorithmic trading using proprietary systems; there are more than 850 |
| over 71 thousand instruments for trading | Proprietary trading platform, which is one of the best products for trading in the derivatives markets (like MetaTrader 4 for Forex) | |
| the opportunity to invest in ready-to-use long-term portfolios managed by professionals | 100+ indicators | |
| Advanced chartign software | ||
| Advanced historical tick data | ||
| Overall Cons | Cent accounts are not available | high trading costs. In addition to the commission for the contract, there are exchange and regulatory fees, a fee to the trade provider (intermediary broker) |
| a ban on algorithmic trading for traders from abroad | The initial deposit is from USD 400. But that amount has nothing to do with fees associated with the US stock market | |
| 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). | the broker is tailored exclusively for the US futures and options markets | |
| a deep understanding of the principles of the derivatives market and the rules for working with exchanges is required | ||
| Chat and phones contacts are missing |
Saxo Bank vs NinjaTrader: Safety and Regulation
| Regulated By: | Saxo Bank | NinjaTrader |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
DFSA (Denmark) , and other European regulators |
NFA |
Saxo Bank vs NinjaTrader: Trading Conditions
| Trading Conditions | Saxo Bank | NinjaTrader |
|---|---|---|
Minimum Deposit |
$0 |
For futures - $400, for Forex - $50 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
Ninjatrader |
Max Leverage (Futures) |
1-30 |
None |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Derivatives market - instruments of exchanges CME, CBOT, NYMEX, COMEX, NYBOT, ICE US, ICE UK, EUREX |
Trading assets |
71000+ |
100+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Futures account, Forex account, affiliates’ accounts |
Base Account Currencies |
USD, EUR |
EUR, USD |
Saxo Bank vs NinjaTrader: Fees
Forex Trading Fees
| Fee | Saxo Bank | NinjaTrader |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
1.4 pip |
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 | NinjaTrader |
|---|---|---|
CFD Trading Fee |
Floating spread |
Not supported |
Non-Trading Fees
| Fee | Saxo Bank | NinjaTrader |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
ACH: Free; Incoming Check or Wires; No fee; Bounced Check: $30 |
Withdrawal Fee |
No |
ACH: 2 free per month, $15 per additional monthly withdrawal; Check: $7; Domestic Wire Transfer: $30; International Wire Transfer: 50 units of originating currency |
Inactivity Fee |
No |
$25 after 1 month of inactivity |
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 NinjaTrader: Trading Assets
| Asset Name | Saxo Bank | NinjaTrader |
|---|---|---|
Overall |
71000+ |
100+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes |
No |
Cryptocurrencies |
Yes |
No |
Energy |
Yes |
No |
Indices |
Yes |
No |
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 NinjaTrader: Investment Programs
| Asset Name | Saxo Bank | NinjaTrader |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: NinjaTrader or Saxo Bank
| Saxo Bank | NinjaTrader | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
NinjaTrader |
Others |
No |
No |
|
|
Saxo Bank vs NinjaTrader: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Saxo Bank | NinjaTrader |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
No |
Saxo Bank vs NinjaTrader: Research
| Research Type | Saxo Bank | NinjaTrader |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Saxo Bank vs NinjaTrader: Education
| Education Type | Saxo Bank | NinjaTrader |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
No |
No |
Videos |
No |
Yes |
Cent account |
No |
No |
NinjaTrader vs Saxo Bank: Support
| Support Features | Saxo Bank | NinjaTrader |
|---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Saxo Bank vs NinjaTrader: Forex Bonuses and Promo
| Promo | Saxo Bank | NinjaTrader |
|---|---|---|
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 |
No |
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 NinjaTrader
-
Comment
I requested a withdrawal from Ninja Trader at the end of the day and received my funds quickly without any delay or problem. I was pleasantly surprised by the transaction speed, especially considering that some companies delay payments for several months. Moreover, I make good profits trading on the Ninja Trader platform, which works flawlessly if you have trading experience, of course.
-
Comment
Whether it is worth opening an account with Ninjatrader is a rhetorical question. Perhaps this makes sense for professional traders from the USA: the broker is regulated by the NFA, has been operating since 2003 and offers the use of ready-made trading systems, so for lovers of automatic trading, that’s it. There are no complaints about the functionality of the terminal. But at the same time, trading and non-trading costs ... To put it mildly, unprofitable. Not only is there a withdrawal fee, but taxes also need to be paid. For beginners and those who trade in small volumes, this is unprofitable. And finally: to trade futures in Ninjatrader, you need to deposit at least $400, for Forex - $50.
-
Comment
After a simple registration, I could choose a standard or demo trading account. By choosing a demo account, I received a deposit of 100,000 virtual dollars. So, you’ll be able to hone your trading skills and try out strategies without the risk of losing funds. Also, a demo account allows you to check the quality of services and the functionality of the platform. I have tried many brokers and Ninja Trader is the best so far. Execution is lightning-fast, there are no hidden fees, and they have unreal trading conditions. I need to have constant access to the trading platform. That is why a mobile application is a real catch. Thus, I can trade using my smartphone. At the moment, both versions for Android and iOS are available. The application allows you to see the activity feed of other traders in real-time, get acquainted with the cost of various financial instruments, track the status of a trading account and interact with other traders using a social network. I’m in the right frame of m
-
Comment
They have an affiliate program that has been developed for active traders like myself who want to receive passive income. Thus, the client can advertise the project and receive a monetary reward for it. I love it. When I was undecided, this broker allowed me to trade and earn money. It was a breaking point. The platform provides services for online transactions in commodities, currencies, stocks, and indices. Users receive a financial platform that is suitable for both the professional and the beginner. Each trader needs to read the rules before registering. Moreover, tons of instruments are provided for traders. Besides, I liked that Ninja Trader has a demo account. The advantage of a demo account is that the client can try his hand and trade without the risk of losing funds. Also, for the convenience of traders, a mobile application was created that provides access to the platform 24/7. Break a leg, guys.
-
Comment
I have experience working with various brokers, and in the end, for one reason or another, I felt blue. I switched to this broker on the advice of a friend. I started trading here several months ago. I now trade on a real account. I have no complaints and I do not plan to switch from Ninja Trader. This broker meets my main requirements. And the technical support is running savoir-faire. If I need their professional help and sound advice, they will solve my problems.
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.