Saxo Bank vs Swissquote 2023

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.

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

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

Traders at Swissquote gain access to a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader (both MT4 and MT5) and TradingView. Swissquote also delivers access to a staggering 3 million financial products, including stocks, options, futures, derivatives, ETFs, and structured products (though only a few hundred CFDs). With multiple Tier-1 regulatory licenses and a Trust Score rating of 99 (as well as the rare distinction of operating three banks), we consider Swissquote to be a highly trusted broker. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers, and its forex account offers far fewer markets than Swissquote's eTrading account for share dealing.

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 Bank 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). Swissquote, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Hong Kong (SFC Authorised), Singapore (MAS Authorised) and 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 Swissquote is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank 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 Swissquote 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).

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 Bank and Swissquote offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

For MetaTrader Saxo Bank provides neither of these, while Swissquote 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 0, while Swissquote requires a minimum deposit of $1000. 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 Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for funding and deposit methods, whereas Swissquote supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both Saxo Bank and Swissquote offer Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; Saxo Bank offers 70000, and Swissquote offers a total of 472 tradeable symbols.

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 Bank nor Swissquote allow you to trade physical cryptocurrencies.

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 Bank delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Swissquote, 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

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