Saxo Bank vs Spreadex - Fees Review included
Which broker is better Saxo Bank or Spreadex? 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. Spreadex is one of the top brokers in the financial market with the TU Overall Score of 4.45 out of 10. Find out more about TU Overall Score.
| Feature | Saxo Bank | Spreadex |
|---|---|---|
Overall |
4.5 |
2.8 |
4.8 |
3.8 |
|
4.6 |
3.1 |
|
5 |
3.8 |
|
Investment Instruments |
4.2 |
1 |
Platforms and Charting Tools |
4.6 |
3.3 |
Deposit and Withdrawal |
4.0 |
3 |
Research |
5 |
3.1 |
Education |
3.6 |
3 |
Support |
4.4 |
3.2 |
Bonuses |
3.6 |
2 |
|
|
Saxo Bank vs Spreadex: 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.
Spreadex is a CFD and Forex broker that has been operating since 1999. The platform offers clients access to six classes of trading instruments. Here you can trade currency pairs (Forex) and contracts for difference (CFDs) on stocks, bonds, indices, commodities, and ETFs. Spreadex is headquartered in the UK and is regulated by the UK Financial Conduct Authority (FCA). Betting on sports is a secondary activity of the company.
| Saxo Bank | Spreadex | |
|---|---|---|
| Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | Tight spreads (from 0.6 pips for EUR/USD). |
| over 71 thousand instruments for trading | Withdrawal fee - 0%. | |
| the opportunity to invest in ready-to-use long-term portfolios managed by professionals | Free broker analytics. | |
| 3,500+ trading instruments | ||
| Minimum deposit from USD 2. | ||
| Overall Cons | Cent accounts are not available | There are no investment instruments. |
| a ban on algorithmic trading for traders from abroad | Support is not 24/7. | |
| 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). |
Saxo Bank vs Spreadex: Safety and Regulation
| Regulated By: | Saxo Bank | Spreadex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
DFSA (Denmark) , and other European regulators |
No |
Saxo Bank vs Spreadex: Trading Conditions
| Trading Conditions | Saxo Bank | Spreadex |
|---|---|---|
Minimum Deposit |
$0 |
$2 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
Spreadex (desktop, Android, iOS, Webtrader) |
Max Leverage (Futures) |
1-30 |
1-30 |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Currency pairs, CFDs on stocks, indices, commodities, bonds, ETFs |
Trading assets |
71000+ |
3500+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Standard |
Base Account Currencies |
USD, EUR |
USD, EUR, GBP |
Saxo Bank vs Spreadex: Fees
Forex Trading Fees
| Fee | Saxo Bank | Spreadex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.7 pips |
1.15 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 | Spreadex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Saxo Bank | Spreadex |
|---|---|---|
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 Spreadex: Trading Assets
| Asset Name | Saxo Bank | Spreadex |
|---|---|---|
Overall |
71000+ |
3500+ |
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 |
Yes (CFD) |
Bonds |
Yes |
Yes (CFD) |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Saxo Bank or Spreadex: Investment Programs
| Asset Name | Saxo Bank | Spreadex |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: Spreadex or Saxo Bank
| Saxo Bank | Spreadex | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
Spreadex |
Others |
No |
No |
|
|
Saxo Bank vs Spreadex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Saxo Bank | Spreadex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
No |
Crypto |
No |
No |
Saxo Bank vs Spreadex: Research
| Research Type | Saxo Bank | Spreadex |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Saxo Bank vs Spreadex: Education
| Education Type | Saxo Bank | Spreadex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
Yes |
No |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Spreadex vs Saxo Bank: Support
| Support Features | Saxo Bank | Spreadex |
|---|---|---|
Working Days |
24/5 |
8/7 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Saxo Bank vs Spreadex: Forex Bonuses and Promo
| Promo | Saxo Bank | Spreadex |
|---|---|---|
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 Spreadex
-
Comment
Spreadex is not bad, but it is not suitable for scalping or robot trading. Spreads are high, execution is not very good, and there are still many restrictions. Well, at least there is regulation, and that’s good, but I think that the company is not suitable for large amounts.
-
Comment
- you put it in growth, it immediately falls, creeps down, put it down - immediately turn and in growth! So guys, draw your own conclusions...
-
Comment
The broker's employees are not the most pleasant impression. Whatever question you ask, they don't know. They report in a pattern. It seems to me that in order for me to trust a company, I should not have distrust of its employees. And it has arisen.
-
Comment
The lack of a demo upset me, because I wanted to test the author's Spreadex platform before opening a real account. Unfortunately, you can't bargain for cents either. But I decided to take the risk anyway to work with an FCA regulated broker. There are no deposit requirements - just $ 2 is needed. 30x leverage is enough for me, but it's the maximum if it's important to someone. Now about commissions. I don't trust brokers who promise spreads up to 1 pip without extra. boards. As I expected, Spreadex also indicated the minimum values on its website - 0.6 points was not even in the best scenario. The real spread for the Eurodollar is 1.5-2.5 points. The broker does not charge a commission for withdrawal.
-
Comment
The FCA license gives Spreadex substantial weight, and its longevity as a brokerage company further increases its rating. I have about $35,000 on my account here, I'm not afraid that the broker will throw me off. I trade mainly through a mobile application, I carry out technical analysis on a different platform. All payments go through the bank, and the broker does not take a very large commission. I think it is possible to cooperate with Spreadex.
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 Trade Nation
- 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 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.