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Saxo Bank vs Vantage 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Saxo Bank and Vantage? Weโ€™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 Vantage.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingSaxo BankVantage
Overall Rating 9.7 / 10 7.7 / 10
Account TypeSaxo BankVantage
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No Yes
Copy TradingSaxo BankVantage
Social Trading / Copy Trading Yes Yes
DupliTrade No Yes
ZuluTrade No Yes
CryptocurrencySaxo BankVantage
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)Saxo BankVantage
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)Saxo BankVantage
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsSaxo BankVantage
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No Yes
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes Yes
ETF Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsSaxo BankVantage
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No Yes
Regulatory LicensesSaxo BankVantage
Tier-1 Licenses 6 2
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
CFTC Registered (USA) No No
Tier-2 Licenses 1 0
Tier-3 Licenses 0 2
Research, EducationSaxo BankVantage
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes No
Trading CostsSaxo BankVantage
Minimum Initial Deposit โ‚ฌ2,000 $50
Average Spread EUR/USD - Standard 0.9 (September 2022) 1.22 (August 2021)
All-in Cost EUR/USD - Active 0.7 (September 2022) 0.75 (August 2021)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsSaxo BankVantage
Watchlists - Total Fields 62 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 62 30
Mobile Charting - Indicators / Studies 62 30
Trust FactorsSaxo BankVantage
Year Founded 1992 2009
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union Yes info Yes info
Trust Score 99 83
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Saxo Bank vs Vantage 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 Vantage.

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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust Vantage?

Vantage has a trust score of 83, giving it a "Trusted" trust label.

Is Saxo Bank a good broker?

Saxo Bank is a highly-trusted broker that ranks near the top in practically every category. It provides traders and investors with an incredible platform experience (including on mobile) alongside powerful research and a vast selection of more than 40,000 symbols to trade across multiple asset classes.

Is Vantage a good broker?

Vantage is a trusted brand that offers a growing range of markets along with support for the MetaTrader platform suite, social copy-trading platforms, full integration with TradingView, and a proprietary mobile app. That said, its educational content and market research materials can't compete with the best forex 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 ASIC Authorised (Australia), SFC Authorised (Hong Kong), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.), while Vantage is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), CBI Authorised (Ireland), FMA Authorised (New Zealand) and CFTC Registered (USA)

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

Which broker offers more trading platforms?

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

Does Saxo Bank offer MetaTrader? Does Vantage offer MetaTrader?

For MetaTrader Saxo Bank provides neither of these, while Vantage 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 Vantage differ in terms of minimum deposit? What about average spreads and funding options?

Saxo Bank requires a minimum deposit of โ‚ฌ2,000, while Vantage requires a minimum deposit of $50. From our testing we found Saxo Bank offers spreads of 0.9 (September 2022), while Vantage offers spreads of 1.22 (August 2021). Saxo Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where Vantage supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, Saxo Bank or Vantage?

Saxo Bank offers a more diverse selection of investment options than Vantage 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 60000, compared to 1000 from Vantage.

Can I trade cryptocurrency with Saxo Bank or Vantage?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither Saxo Bank nor Vantage allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo Bank or Vantage?

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 Vantage 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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