Saxo Bank vs FxPro 2023

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.

FxPro has a trust score of 90, giving it a "Highly Trusted" trust label.

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.

FxPro is a trusted brand that delivers access to a wide range of trading platforms, including cTrader, the full MetaTrader platform suite (including MetaTrader 5), and its proprietary FxPro Edge and BnkPro apps. Algorithmic traders will appreciate FxPro's execution methods and pricing options. That said, spreads and overall costs at FxPro are higher than what you'd find with the best forex brokers in the industry.

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 FxPro 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)

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 FxPro is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses Saxo Bank is none, while FxPro is Bahamas (SCB Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

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

For MetaTrader Saxo Bank provides neither of these, while FxPro 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.

Saxo Bank requires a minimum deposit of €2,000, while FxPro requires a minimum deposit of $100. From our testing we found Saxo Bank offers spreads of 0.9, while FxPro offers spreads of 1.51. Saxo Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where FxPro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Saxo Bank offers a more diverse selection of investment options than FxPro allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Saxo Bank has 70000, compared to 2249 from FxPro.

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 FxPro allow you to trade physical cryptocurrencies.

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 FxPro has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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