Saxo Bank vs Vantage - Fees Review included
Which broker is better Saxo Bank or Vantage? 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 6.97 out of 10. Vantage is one of the top brokers in the financial market with the TU Overall Score of 8.25 out of 10. Find out more about TU Overall Score.
| Feature | Saxo Bank | Vantage |
|---|---|---|
Overall |
4.5 |
4.4 |
4.8 |
4.2 |
|
4.6 |
4.6 |
|
5 |
4.4 |
|
Investment Instruments |
4.2 |
4.6 |
Platforms and Charting Tools |
4.6 |
4.5 |
Deposit and Withdrawal |
4.0 |
4.4 |
Research |
5 |
3.9 |
Education |
3.6 |
4.7 |
Support |
4.4 |
4.1 |
Bonuses |
3.6 |
4.4 |
|
|
|
Saxo Bank vs Vantage: 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.
Vantage FX is an STP broker that has been operating since 2009. Traders can find Forex currency pairs on the company's website, as well as CFDs on American, Australian, and European stocks, commodities, and indices. The company operates under the licenses of four regulators — the UK (FCA), Australia (ASIC), Vanuatu (VFSC), and the Cayman Islands (CIMA). Since its creation, Vantage FX has received 11 prestigious awards.
| Saxo Bank | Vantage | |
|---|---|---|
| Overall Pros | favorable trading terms for professional traders with at least 1 year of experience | The broker has licenses from four reputable regulators |
| over 71 thousand instruments for trading | Free trading signals for traders, regardless of the type of trading account | |
| the opportunity to invest in ready-to-use long-term portfolios managed by professionals | Fantabulous bonus policy and terms of its affiliate program | |
| 3 copy trading platforms support | ||
| Overall Cons | Cent accounts are not available | Customers from most countries are forced to cooperate with a branch that has an offshore license |
| a ban on algorithmic trading for traders from abroad | Limited education and a lack of information on Forex trading | |
| 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). | Snail-paced withdrawal of funds with the requirement to comply with special conditions |
Saxo Bank vs Vantage: Safety and Regulation
| Saxo Bank | Vantage | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 CHF 100,000 |
€20,000 £85,000 |
FCA UK Regulation |
Yes |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
Yes |
CFTC (U.S) |
No |
No |
MAS |
Yes |
No |
FSCA SA |
No |
Yes |
BVI FSC |
No |
No |
VFSC |
No |
Yes |
FSA (Seychelles) |
No |
No |
Saxo Bank vs Vantage: Trading Conditions
| Trading Conditions | Saxo Bank | Vantage |
|---|---|---|
Minimum Deposit |
$0 |
$200 |
Trading Platforms |
SaxoTraderGo, SaxoTraderPro |
Vantage FX app, МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), WebTrader |
Max Leverage (Futures) |
1-30 |
1-500 |
Supported Markets |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Currency pairs (44), CFDs on stocks (226), indices (16), and commodities (19) |
Trading assets |
71000+ |
400+ |
Trading Accounts |
Classic, Platinum, VIP, Professional |
Demo, Standard STP, Pro ECN, RAW ECN |
Base Account Currencies |
USD, EUR |
AUD, USD, GBP, EUR, SGD, and CAD |
Saxo Bank vs Vantage: Fees
| Saxo Bank | Vantage | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,2 |
0,3 |
Standard acc. spread EUR/USD, max pips |
0,9 |
1,4 |
ECN Commission |
3 |
|
ECN Spread EUR/USD |
0,3 |
|
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
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 Vantage: Trading Assets
| Asset Name | Saxo Bank | Vantage |
|---|---|---|
Overall |
71000+ |
400+ |
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 |
No |
Binary Options |
No |
No |
Saxo Bank or Vantage: Investment Programs
| Asset Name | Saxo Bank | Vantage |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: Vantage or Saxo Bank
| Saxo Bank | Vantage | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
SaxoTraderGo, SaxoTrader Pro |
Vantage FX |
Others |
No |
No |
|
|
|
Saxo Bank vs Vantage: Deposit and Withdrawal Methods
| Saxo Bank | Vantage | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
No |
No |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
Saxo Bank vs Vantage: Research
| Research Type | Saxo Bank | Vantage |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Saxo Bank vs Vantage: Education
| Education Type | Saxo Bank | Vantage |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
Vantage vs Saxo Bank: Support
| Support Features | Saxo Bank | Vantage |
|---|---|---|
Working Days |
24/5 |
24/5 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Saxo Bank vs Vantage: Forex Bonuses and Promo
| Promo | Saxo Bank | Vantage |
|---|---|---|
Forex Bonus |
No |
Initial deposit bonus Clients of the broker can receive a bonus upon the first deposit of 50% of the deposit amount. The maximum bonus amount is 20,000 USD. Funds are accrued in the form of trade credits that can be used to conduct transactions, increase margins, etc. |
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 |
CPA affiliate program (CellXpert). This affiliate program provides a reward for traders who promote the broker's services. The size of the bonus differs depending on the country from which new traders come. The remuneration levels are as follows: 600 USD for clients from Germany, Denmark, Switzerland, UK, Norway, France, the Netherlands, Sweden, Austria, Ireland, and New Zealand; 400 USD for customers from Hong Kong, Finland, Italy, Portugal, UAE, Kuwait, Qatar, Saudi Arabia, Malaysia, Israel; 300 USD for clients from the Czech Republic, Slovak Republic, Poland, Taiwan, Colombia, Thailand, Mexico, Greece, South Africa; 100 USD for clients from other countries. The referred client is registered in the partner group if two conditions are met: Account replenishment for 500 USD; The trading turnover is at least two trading lots in the first month after registration. |
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. |
Vantage FX encourages active traders by returning them some of the commissions in the form of cashback or rebate. Clients who fund their account in the amount of 10,000 USD and maintain the amount at this level can earn commissions up to 8 USD per lot traded. In addition, such customers can receive gifts from the broker, such as a gift card or iPhone. |
|
|
|
Top 5 Reviews on Vantage
-
Comment
Regarding security, Vantage Markets provides basic measures: it works with 15 major liquidity banks, including J.P. Morgan and Citibank, and also supports data encryption. The minimum order size is 0.01 lots, margin call occurs when margin falls to 50%, and stop-out at 20%. This is a standard setup for ECN brokers. However, the lack of a comprehensive training center and limited Forex information on the platform were somewhat disappointing.
-
Comment
Vantage Markets offers a well-developed CPA partnership program, where you can earn between $100 and $600 depending on the client’s country. The broker also provides a commission discount of up to $8 per lot and a deposit bonus of up to 50%. These are attractive terms, especially for IB partners. However, it’s important to note that bonus withdrawals require a specific trading volume, and the withdrawal process itself can take time — in some cases, special conditions must be met.
-
Comment
The trading conditions at Vantage Markets are ideal for those who value a wide range of instruments. The platform offers access to over 1,000 assets, including 70 currency pairs, 881 stock CFDs, 30 indices, 16 commodities, and 57 cryptocurrencies. All major platforms are supported — MetaTrader 4/5, TradingView, and mobile apps.
-
Comment
Vantage Markets caught my attention because it has been operating since 2009 and holds licenses from four regulators: FCA, ASIC, VFSC, and CIMA — a rarity among STP brokers. The minimum deposit of $50 makes the platform accessible even for traders with limited budgets. It’s also great that leverage can go up to 1:1000 for currency pairs and 1:500 for oil and gold, allowing for active trading in high-volatility markets. However, on standard STP accounts, spreads start from 1.1 pips — not the most competitive compared to some rivals.
-
Comment
Verifying an account on Vantage is straightforward and traders must verify their account before they can make deposits and withdraw from their accounts. On the vantage app if you have not verified, click on the verification button when you log in. You will need a national identity card or passport to pass the verification process. The maximum size of photo to upload must not exceed 5mb and documents must have your photo. Ensure to this is followed to avoid delay in verifying your account
Top 5 Reviews on Saxo Bank
-
Comment
For a passive investor, Saxo Bank can be attractive due to the absence of a lock-in period in its SaxoSelect portfolios—funds can be withdrawn at any time. Investors can choose from portfolios with varying risk levels, from moderate to aggressive. However, the minimum entry threshold is $10,000 or the equivalent in euros. The broker operates in 170 countries, offers support in 20 languages, and emphasizes high liquidity, which is especially important for traders making multi-million dollar transactions.
-
Comment
Saxo Bank is regulated by several reputable authorities, including the FCA and the Danish FSA, and it partners with over 50 major liquidity providers — among them HSBC, JP Morgan, and NASDAQ OMX. The minimum lot size is 0.05, and the trading conditions are clearly tailored for high-net-worth individuals. One standout feature is the SaxoSelect portfolio management service, which offers clients access to ready-made investment strategies starting from €10,000, with a transparent fee structure — 0.5% management fee and up to 20% performance fee.
-
Comment
Saxo Bank is more suitable for experienced traders with a deposit starting from $10,000. The entry threshold is quite high, but in return, the platform offers access to over 40,000 trading instruments, including bonds, ETFs, listed options, and even investment portfolios via SaxoSelect. Spreads start from 0.7 pips, with leverage up to 1:30. The SaxoTraderGO and SaxoTraderPRO terminals have a professional look and feel, though the absence of the familiar MT4/MT5 platforms may be inconvenient for some users. It’s also worth noting that customer support does not offer live chat.
-
Comment
Saxo Bank is more suitable for experienced traders with a deposit starting from $10,000. The entry threshold is quite high, but in return, the platform offers access to over 40,000 trading instruments, including bonds, ETFs, listed options, and even investment portfolios via SaxoSelect. Spreads start from 0.7 pips, with leverage up to 1:30. The SaxoTraderGO and SaxoTraderPRO terminals have a professional look and feel, though the absence of the familiar MT4/MT5 platforms may be inconvenient for some users. It’s also worth noting that customer support does not offer live chat.
-
Comment
Saxo's customer service is pretty solid. I had an issue with verifying my account during the sign-up process, but the support team was quick to respond through live chat, and everything was resolved in less than a day. The two-step login feature makes me feel more secure, especially since I trade with higher volumes. Plus, having access to their news feed and analysis directly on the platform helps me stay up to date without needing external sources.
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.