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Saxo vs CMC Markets 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Saxo and CMC Markets? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Saxo ranks more highly than CMC Markets.

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Compare

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Overall Rating Saxo CMC Markets
Overall Rating 9.7 / 10 9.6 / 10
Offering of Investments 10 / 10 9.5 / 10
Commissions & Fees 9.5 / 10 10 / 10
Platform & Tools 10 / 10 9.5 / 10
Research 10 / 10 10 / 10
Mobile Trading 10 / 10 9.5 / 10
Education 8.0 / 10 8.5 / 10
Account Type Saxo CMC Markets
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No No
Copy Trading Saxo CMC Markets
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Saxo CMC Markets
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) Saxo CMC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Saxo CMC Markets
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments Saxo CMC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Saxo CMC Markets
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses Saxo CMC Markets
Tier-1 Licenses info 7 5
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Research, Education Saxo CMC Markets
Trading Central (Recognia) info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Saxo CMC Markets
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 1.1 info 0.61 info
All-in Cost EUR/USD - Active info 0.9 info 0.51 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
Trading Tools Saxo CMC Markets
Watchlists - Total Fields info 60 11
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 64 79
Mobile Charting - Indicators / Studies info 64 29
Trust Factors Saxo CMC Markets
Year Founded info 1992 1989
Publicly Traded (Listed) info No Yes
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 99 99
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Saxo vs CMC Markets Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between Saxo and CMC Markets? Our independent database powered by our unbiased research will help you compare Saxo vs CMC Markets side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust Saxo?

Saxo has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust CMC Markets?

CMC Markets has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Is Saxo a good broker?

Saxo is a highly trusted broker that operates multiple banks and holds regulatory licenses in a wide range of reputable international jurisdictions, earning it one of the highest Trust Score ratings in our database. Simply put, Saxo ranks at – or near – the top of practically every category. Traders and investors at Saxo gain access to an incredible platform experience (including on mobile) alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. Saxo also supports a variety of third-party platforms, including the immensely popular TradingView platform. That said, minimum deposits at Saxo are steep; minimum deposits start at €2,000 for the broker's entry-level account offering and go as high as €1,000,000 for a VIP account.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions, with an overall Trust Score rating of 99. CMC's powerful Next Generation proprietary trading platform (available for web and mobile) delivers a huge selection of tradeable markets wrapped in a fantastic user experience. Traders at CMC Markets also gain access to MetaTrader 4, and forex traders in Australia can use the CMC Markets Invest app for exchange-traded equities. CMC Markets is a great choice for traders looking for high-quality research, good educational content, powerful trading tools, and low-cost forex trading.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. Saxo holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Hong Kong (SFC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised). CMC Markets, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised). Neither have CBI Authorised (Ireland), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both Saxo and CMC Markets are UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Saxo nor CMC Markets are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both Saxo and CMC Markets offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Saxo offer MetaTrader? Does CMC Markets offer MetaTrader?

For MetaTrader Saxo provides neither of these, while CMC Markets provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)

How do Saxo and CMC Markets differ in terms of minimum deposit? What about average spreads and funding options?

Saxo requires a minimum deposit of $0, while CMC Markets requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Saxo supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for funding and deposit methods, whereas CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Saxo or CMC Markets?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that Saxo delivers a more diverse selection of investment options than CMC Markets, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; Saxo offers 70000, and CMC Markets offers a total of 12074 tradeable symbols.

Can I trade cryptocurrency with Saxo or CMC Markets?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither Saxo nor CMC Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo or CMC Markets?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. Saxo delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. CMC Markets, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

Saxo Review

CMC Markets Review

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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