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Saxo Bank vs Exness 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Saxo Bank and Exness? 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 Bank ranks more highly than Exness.

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Compare

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Overall Rating Saxo Bank Exness
Overall Rating 9.7 / 10 7.2 / 10
Account Type Saxo Bank Exness
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 Yes
Copy Trading Saxo Bank Exness
Social Trading / Copy Trading info Yes No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Saxo Bank Exness
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes No
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) Saxo Bank Exness
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Saxo Bank Exness
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 Bank Exness
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info Yes No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Saxo Bank Exness
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses Saxo Bank Exness
Tier-1 Licenses info 7 2
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
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 No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Research, Education Saxo Bank Exness
Trading Central (Recognia) info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes No
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Saxo Bank Exness
Minimum Deposit info €2,000 $1
Average Spread EUR/USD - Standard info 0.9 info 0.9 info
All-in Cost EUR/USD - Active info 0.7 info N/A
Active Trader or VIP Discounts info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No No
Trading Tools Saxo Bank Exness
Watchlists - Total Fields info 60 (default Metatrader)
Mobile Watchlist info Yes No
Charting - Indicators / Studies (Total) info 64 (default Metatrader)
Mobile Charting - Indicators / Studies info 64 (default Metatrader)
Trust Factors Saxo Bank Exness
Year Founded info 1992 2008
Publicly Traded (Listed) info No No
Bank info Yes No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 99 68
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Saxo Bank vs Exness Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs Exness.

Can I trust Saxo Bank?

Saxo Bank has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust Exness?

Exness has a trust score of 68, giving it a "High Risk" trust label.

Is Saxo Bank a good broker?

Saxo Bank 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 Bank ranks at – or near – the top of practically every category. Traders and investors at Saxo Bank 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 Bank 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 Exness a good broker?

Founded in 2008, Exness is a MetaTrader broker that offers both MT4 and MT5 platforms, alongside its proprietary client portal Terminal and the Exness Social Trading app for social copy trading. Exness also offers competitive spreads on its commission-based and Pro accounts. That said, the broker's lack of significant regulatory licenses weighs down its Trust Score, and its research and educational offerings trail behind the best brokers.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Saxo Bank is Australia (ASIC Authorised), Hong Kong (SFC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised), while Exness is United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (CIRO Authorised), CBI Authorised (Ireland), New Zealand (FMA Authorised), 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, Saxo Bank is UAE (DFSA/Central Bank Authorised), while Exness is Cyprus (CySEC Authorised).. Neither have China (CBRC 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 Bank nor Exness 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?

For trading platforms Saxo Bank supports a Proprietary Platform and Desktop Platform (Windows), whereas Exness supports a Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does Saxo Bank offer MetaTrader? Does Exness offer MetaTrader?

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

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

Saxo Bank requires a minimum deposit of €2,000, while Exness requires a minimum deposit of $1. From our testing we found Saxo Bank offers spreads of 0.9, while Exness offers spreads of 0.9 . Saxo Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where Exness supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).. Neither have PayPal (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Saxo Bank or Exness?

Saxo Bank offers a more diverse selection of investment options than Exness allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, Saxo Bank has 70000, compared to 112 from Exness.

Can I trade cryptocurrency with Saxo Bank or Exness?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Saxo Bank nor Exness allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo Bank or Exness?

In terms of research and research tools Saxo Bank gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison Exness has the tools listed here: Forex News (Top-Tier Sources) and Trading Central (Recognia).

Broker Reviews

Still looking for more information, read our broker reviews.

Saxo Bank Review

Exness Review

Overall winner: Saxo Bank

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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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