Trading 212 vs Saxo Bank - Fees Review included
Which broker is better Trading 212 or Saxo Bank? Our expert assessment conducted according to TU’s own methodology showed that Trading 212 is one of the top brokers in the financial market with the TU Overall Score of 4.89 out of 10. Saxo Bank is one of the top brokers in the financial market with the TU Overall Score of 7.04 out of 10. Find out more about TU Overall Score.
Feature | Trading 212 | Saxo Bank |
---|---|---|
Overall |
3.9 |
4.5 |
4.5 |
4.8 |
|
3.5 |
4.6 |
|
4.7 |
5 |
|
Investment Instruments |
1 |
4.2 |
Platforms and Charting Tools |
2.8 |
4.6 |
Deposit and Withdrawal |
4.1 |
4.0 |
Research |
3.7 |
5 |
Education |
3.8 |
3.6 |
Support |
3.9 |
4.4 |
Bonuses |
1 |
3.6 |
|
Trading 212 vs Saxo Bank: Pros and Cons
The Trading 212 brokerage company (trading212.com) is registered to do business in London in 2006. Its specialization is the provision of services for investment and active trading in the foreign exchange and stock markets. The company is regulated and licensed by the UK Financial Conduct Authority (FCA) and by CySEC in Europe. The broker does not provide data on awards received during the work.
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.
Trading 212 | Saxo Bank | |
---|---|---|
Overall Pros | low level of the minimum deposit | favorable trading terms for professional traders with at least 1 year of experience |
a large selection of trading assets | over 71 thousand instruments for trading | |
Big choice of Stocks and ETFs | the opportunity to invest in ready-to-use long-term portfolios managed by professionals | |
UK and EU regulated broker | ||
Overall Cons | lack of investment programs | Cent accounts are not available |
a small number of ways to contact support | a ban on algorithmic trading for traders from abroad | |
the company does not hold contests for traders | 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). |
Trading 212 vs Saxo Bank: Safety and Regulation
Regulated By: | Trading 212 | Saxo Bank |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
No |
DFSA (Denmark) , and other European regulators |
Trading 212 vs Saxo Bank: Trading Conditions
Trading Conditions | Trading 212 | Saxo Bank |
---|---|---|
Minimum Deposit |
£1, €1 |
$0 |
Trading Platforms |
Web platform, a mobile app for iOS and Android |
SaxoTraderGo, SaxoTraderPro |
Max Leverage (Futures) |
1:30 (retail clients), 1:500 (Pro clients) |
1-30 |
Supported Markets |
Currency pairs, CFDs on stocks, indices, futures, commodities, ETFs |
Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, quoted options, Mutual Funds, Options |
Trading assets |
over 12,000 stocks and ETFs available in the Invest/ISA accounts and over 5,000 leveraged instruments in the CFD account |
71000+ |
Trading Accounts |
Trading 212 Invest, Trading 212 CFD, ISA (available for UK clients) |
Classic, Platinum, VIP, Professional |
Base Account Currencies |
GBP, EUR |
USD, EUR |
Trading 212 vs Saxo Bank: Fees
Forex Trading Fees
Fee | Trading 212 | Saxo Bank |
---|---|---|
Standard Account EURUSD Average Spread |
2.3 pips |
0.7 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 | Trading 212 | Saxo Bank |
---|---|---|
CFD Trading Fee |
Other fees |
Floating spread |
Non-Trading Fees
Fee | Trading 212 | Saxo Bank |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
0,7% if you deposit more than 2000 EUR with debit or credit card |
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.
Trading 212 vs Saxo Bank: Trading Assets
Asset Name | Trading 212 | Saxo Bank |
---|---|---|
Overall |
over 12000+ |
71000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes |
Yes |
Bonds |
Yes (CFD) |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
Yes (CFD) |
Yes |
Binary Options |
No |
No |
Trading 212 or Saxo Bank: Investment Programs
Asset Name | Trading 212 | Saxo Bank |
---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: Saxo Bank or Trading 212
Trading 212 | Saxo Bank | |
---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
Trading 212 |
SaxoTraderGo, SaxoTrader Pro |
Others |
No |
No |
|
Trading 212 vs Saxo Bank: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | Trading 212 | Saxo Bank |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
No |
Crypto |
No |
No |
Trading 212 vs Saxo Bank: Research
Research Type | Trading 212 | Saxo Bank |
---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
No |
Yes |
Trading 212 vs Saxo Bank: Education
Education Type | Trading 212 | Saxo Bank |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
No |
Videos |
Yes |
No |
Cent account |
No |
No |
Saxo Bank vs Trading 212: Support
Support Features | Trading 212 | Saxo Bank |
---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
No |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
feedback form |
No |
Trading 212 vs Saxo Bank: Forex Bonuses and Promo
Promo | Trading 212 | Saxo Bank |
---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
Promo offer. It works according to the principle of a standard referral program. A client of the company becomes a partner of a broker, receives an individual referral link and attracts new users to the company. The referrer gets a bonus for each new active trader. Trading 212 provides a tiered referral program that rewards every client and friend they refer with a free share (or a share of the whole share) up to €100/GBP. |
“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 |
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 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.
Top 5 Reviews on Trading 212
-
Comment
I haven’t traded or registered with Trading 212 yet, but I think I should try, since the company is interesting. I am currently studying reviews about this broker. So far nothing bad has happened.
-
Comment
I like trading with trading 212. The conditions are normal. The minimum deposit is really minimal - €1, but it is better to make a normal deposit, you understand. The platform works properly too. I checked the quotes, they correspond to the market. Sometimes, opening and closing of trades is not fast enough, but it is within reasonable time.
-
Comment
I have been trading with Trading 212 for almost 2 years. The broker is not bad and it withdraws money. However, there are some problems: there are requotes and the platform freezes sometimes. But the broker is regulated, which is a plus! I’m currently trading with another company, but I have this one in mind.
-
Comment
Withdrawals and execution are fine at Trading 212. Now I make a profit, but there were different situations. I decided to trade here, as they withdraw money without any problems.
-
Comment
I came to trading 212 a couple of years ago, it’s a worthy company. What I like most is the respectful attitude towards the trader. The support has helped me more than once; the operators regularly advise me on all issues that arise. This helps me a lot in trading.
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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.