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Saxo Bank vs easyMarkets 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between Saxo Bank and easyMarkets? 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 easyMarkets.

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 Rating expand_moreexpand_less Saxo Bank easyMarkets IG
Overall Rating 9.5 / 10 7.3 / 10 9.7 / 10
Account Type expand_moreexpand_less Saxo Bank easyMarkets IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account No Yes No
Copy Trading expand_moreexpand_less Saxo Bank easyMarkets IG
Social Trading / Copy Trading Yes Yes Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less Saxo Bank easyMarkets IG
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less Saxo Bank easyMarkets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less Saxo Bank easyMarkets IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less Saxo Bank easyMarkets IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No Yes
Social Trading / Copy Trading Yes Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes Yes Yes
ETF Yes No Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less Saxo Bank easyMarkets IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) No No No
Regulatory Licenses expand_moreexpand_less Saxo Bank easyMarkets IG
Tier-1 Licenses 6 1 7
ASIC Authorised (Australia) Yes Yes Yes
IIROC Authorised (Canada) No No No
FCA Authorised (U.K.) Yes No Yes
SFC Authorised (Hong Kong) Yes No No
MAS Authorised (Singapore) Yes No Yes
FINMA Authorised (Switzerland) Yes No Yes
CFTC Registered (USA) No No Yes
Tier-2 Licenses 1 1 2
Tier-3 Licenses 0 1 1
Research, Education expand_moreexpand_less Saxo Bank easyMarkets IG
Trading Central (Recognia) No Yes No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist Yes No Yes
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes No Yes
Client Webinars (Archived) Yes No Yes
Trading Costs expand_moreexpand_less Saxo Bank easyMarkets IG
Minimum Initial Deposit $2,000 $100 £250.00
Average Spread EUR/USD - Standard 0.8 (August 2020) 0.9 (as of Mar 2020) 0.828 (September 2021)
All-in Cost EUR/USD - Active 0.6 (August 2020) 0.9 (as of Mar 2020) 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes No Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) No No Yes
Trading Tools expand_moreexpand_less Saxo Bank easyMarkets IG
Watchlists - Total Fields 62 6 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 62 (default MT4) 32
Mobile Charting - Indicators / Studies 62 81 32
Trust Factors expand_moreexpand_less Saxo Bank easyMarkets IG
Year Founded 1992 2001 1974
Publicly Traded (Listed) No No Yes
Bank Yes No Yes
Authorised in European Union Yes Yes Yes
Trust Score 99 84 99
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Saxo Bank vs easyMarkets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 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 easyMarkets.

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 easyMarkets?

easyMarkets has a trust score of 84, 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 easyMarkets a good broker?

easyMarkets provides a trading platform suite that is optimized for ease of use, and features a variety of trading and risk-management tools which are especially helpful for beginners. That said, easyMarkets' pricing is higher than the industry average, and its research materials and range of available symbols are limited compared to 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 ASIC Authorised (Australia), SFC Authorised (Hong Kong), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.), while easyMarkets is ASIC Authorised (Australia)., 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 easyMarkets is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE 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 easyMarkets is FSC Authorised (British Virgin Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both Saxo Bank and easyMarkets offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does Saxo Bank offer MetaTrader? Does easyMarkets offer MetaTrader?

Both Saxo Bank and easyMarkets offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4., neither have MetaTrader 5 (MT5)

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

Saxo Bank requires a minimum deposit of $2,000, while easyMarkets requires a minimum deposit of $100. From our testing we found Saxo Bank offers spreads of 0.8 (August 2020), while easyMarkets offers spreads of 0.9 (as of Mar 2020). Saxo Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where easyMarkets supports Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

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

Saxo Bank offers a more diverse selection of investment options than easyMarkets allowing you to trade Forex Trading, Trading - Forex 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 40000, compared to 199 from easyMarkets.

Can I trade cryptocurrency with Saxo Bank or easyMarkets?

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 easyMarkets allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo Bank or easyMarkets?

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 easyMarkets 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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