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Swissquote vs Saxo Bank
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Compare Swissquote vs Saxo Bank Side by Side
Trying to choose between Swissquote vs Saxo Bank, but can’t decide which Broker is better Broker for your trading strategy? We made a detailed comparison between Swissquote Review and Saxo Bank Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Website | //www.swissquote.com | //www.home.saxo |
| Founded year | 1996 | 1992 |
| Headquarter | Switzerland | Denmark |
| Licenses | Switzerland, UK, Luxembourg, UAE, Hong Kong, Singapore, Malta | Denmark, Australia, UK, Singapore, UAE, Japan, Hong Kong |
| Minimum Deposit | 1,000 US$ | 2000 US$ |
| Trading Platforms | MT4, MT5, eTrading, Swiss DOTS, Advanced Trader | SaxoTraderGO, SaxoTraderPRO, MT4 |
| Eurusd avg Spread | 1.3 pips | 0.8 pips |
Licenses
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Licenses Countries Info (short) |
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Swissquote alike Saxo Bank are both highly regarded forex brokers, each holding regulatory approvals in various countries including the UK, EU, Japan, Hong Kong, Singapore, and several other nations. They prioritize transparency and customer protection, adhering to the regulatory framework established by MiFID, ensuring a secure trading environment for their clients. Additionally, both brokers are licensed as banks and are capable of offering banking services.
Broker Types
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Broker types |
|
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Saxo Bank primarily functions as a Market Maker, actively participating in trading by providing liquidity and depth to the market. In doing so, it takes the opposite side of trades, ultimately generating profits from the bid-ask spread differential. On the other hand, Swissquote operates as a versatile brokerage firm, acting both as a Market Maker and an STP Broker. This dual role allows Swissquote to offer traders different execution options, depending on their preferences and needs.
Trading Conditions
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Trading Conditions |
|
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Both brokers provide favorable trading conditions, featuring low spreads and zero commissions. Additionally, they offer a wide range of technical indicators to enrich the trading experience, coupled with user-friendly interfaces. Importantly, there are no restrictions on trading strategies, making both platforms equally suitable for both novice traders and experts, ensuring ample opportunities for all.
Fees & Commissions
| Fees & Commissions | Swissquote | Saxo Bank |
|---|---|---|
| Inactivity Feemonth | $10 | up to 150 $ |
| Deposit fee | $0 | 0 $ |
| Withdrawal fee | $0 | 0 $ |
| Rollover fee eurusd buy 1 lot | 0.79 | -0.60% |
| Rollover fee eurusd sell 1 lot | -4.05 | +0.60% |
| Avg Eurusd standard acc | 1.3 pips | 0.8 pips |
| Gold | 28.6 | 27 |
| Brent oil | 5 | 5 |
| Bitcoin | 1% | 115 |
When it comes to fees, Saxo Bank stands out by providing more favorable terms. Their spreads for EUR/USD are notably lower than the industry average. Additionally, Saxo Bank typically doesn’t charge commissions, except for inactivity fees. In contrast, Swissquote tends to have higher spreads, and their commissions for account inactivity can escalate to as much as $150.
Account Types
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Account types |
|
|
Swissquote provides a range of tailored trading accounts, catering to various trader types, including both private individuals and B2B clients. Among the private accounts, you’ll find Trading, Forex, Robo-Advisory, and Crypto-Assets accounts, with options like the swap-free account available.
In contrast, Saxo Bank offers three distinct account types, each equipped with the same technical capabilities and company support. The key differences between these accounts lie in their pricing structures and the level of support offered by the company. Both brokers additionally provide banking accounts.
Markets & Instruments
| Markets & Instruments | Swissquote | Saxo Bank |
|---|---|---|
| Forex | 80 | 180+ |
| Indices | 45 | 29 |
| Commodities | 23 | 19 |
| Cryptocurrencies | 27 | 2 |
| Shares | 2000+ | 9,000+ |
| Bonds | ❌ | 40,000+ |
| Options | ✔️ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | 10 | ❌ |
| Etfs | 1200+ | 3,000+ |
Both brokers have a largely similar range of trading instruments, but there are some distinctions. Swissquote offers Options and Futures, while Saxo Bank excels in its extensive offerings of Bonds, and it surpasses Swissquote in the variety of Shares and ETFs available for trading.
Trading Platforms
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Platforms |
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Swissquote stands out by offering a wide array of trading platforms, which includes its proprietary platform in addition to the full suite of MetaTrader platforms, encompassing both MT4 and MT5. On the other hand, Saxo Bank takes a different approach, concentrating solely on its proprietary trading platform. This distinction provides traders with diverse options to suit their specific preferences and trading styles when choosing Swissquote.
Deposit & Withdrawal Methods
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Payment methods |
|
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Both firms offer a restricted selection of funding methods, primarily limited to credit/debit card transactions and bank wire transfers.
Others
| Feature | Swissquote | Saxo Bank |
|---|---|---|
| Others |
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Swissquote and Saxo Bank both excel in providing prime customer support through a variety of communication channels, including telephone support, live chat, and email. When it comes to educational resources, both brokers shine with robust offerings, encompassing professional interactive education, comprehensive trading courses, informative webinars, and a wealth of educational materials.
Conclusion on Saxo Bank vs Swissquote
In conclusion, our comparison of Swissquote vs Saxo Bank reveals two reputable and trustworthy brokers, both boasting solid international presence and robust regulatory compliance. They both offer enticing trading conditions and an impressive array of trading instruments. However, Saxo Bank enjoys certain advantages, including lower spreads, a wider range of trading instruments, and diverse account types tailored to various trader preferences. On the other hand, for Muslim traders seeking Islamic Accounts, Swissquote is the preferred choice, making it a suitable option. Here is our final recommendation:
- Swissquote – 🥇 Best for International clients providing services designed for retail or independent asset managers or corporate customers.
- Saxo Bank – 🥇 Best for Professional trading providing advanced proposals and technological solutions tailored to experienced and demanding traders.
