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Saxo vs tastyfx 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Saxo and tastyfx? 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 tastyfx.

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Compare

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Overall Rating Saxo tastyfx
Overall Rating star 9.7 /10 star 9.9 /10
Offering of Investments star 10 /10 star 10 /10
Commissions & Fees star 9.5 /10 star 9.5 /10
Platform & Tools star 10 /10 star 10 /10
Research star 10 /10 star 10 /10
Mobile Trading star 10 /10 star 10 /10
Education star 8.0 /10 star 10 /10
Account Type Saxo tastyfx
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
Deposit/Withdrawal Options Saxo tastyfx
Minimum Deposit info $0 $250.00
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
ACH or SEPA Transfers info No Yes
Copy Trading Saxo tastyfx
Social Trading / Copy Trading info Yes No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Saxo tastyfx
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) Saxo tastyfx
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Saxo tastyfx
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 tastyfx
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info Yes No
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 tastyfx
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 tastyfx
Tier-1 Licenses info 7 8
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes Yes
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 Yes
New Zealand (FMA Authorised) info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses info 1 2
Tier-3 Licenses info 0 0
Research, Education Saxo tastyfx
Trading Central (Recognia) info No No
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 tastyfx
Minimum Deposit info $0 $250.00
Average Spread EUR/USD - Standard info 1.1 info 0.98
All-in Cost EUR/USD - Active info 0.9 info 0.82
Active Trader or VIP Discounts info Yes Yes
Trading Tools Saxo tastyfx
Watchlists - Total Fields info 60 5
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 64 33
Mobile Charting - Indicators / Studies info 64 33
Trust Factors Saxo tastyfx
Year Founded info 1992 1974
Publicly Traded (Listed) info No Yes
Bank info Yes Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Trust Score info 99 99
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Saxo vs tastyfx 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 tastyfx? Our independent database powered by our unbiased research will help you compare Saxo vs tastyfx 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 tastyfx?

tastyfx 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 tastyfx a good broker?

Tastyfx, IG’s new name for its US forex brand, delivers the same core experience that IG traders have grown to love. The name and logo have been refreshed, but this rebranded arm of IG’s forex business delivers the same platform experience, pricing structure, robust regulatory support, and powerful research. Simply put, tastyfx is an excellent choice for US-based forex traders seeking a trustworthy broker with a high-quality offering.

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). tastyfx, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). Neither have Canada (CIRO Authorised), CBI Authorised (Ireland) and Switzerland (FINMA Authorised)

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 is UAE (DFSA/Central Bank Authorised), while tastyfx is Cyprus (CySEC Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank 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 is none, while tastyfx is Bermuda (BMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and 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 tastyfx offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Saxo offer MetaTrader? Does tastyfx offer MetaTrader?

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

Saxo requires a minimum deposit of $0, while tastyfx requires a minimum deposit of $250.00. 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 tastyfx 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 tastyfx?

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 tastyfx, 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 tastyfx offers a total of 19537 tradeable symbols.

Can I trade cryptocurrency with Saxo or tastyfx?

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 tastyfx allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo or tastyfx?

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. tastyfx, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). Neither have Trading Central (Recognia)

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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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