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Saxo Bank vs Markets.com 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Saxo Bank and Markets.com? 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 Markets.com.

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 BankMarkets.comIG
Overall Rating9.7 / 108.2 / 109.9 / 10
Account TypeSaxo BankMarkets.comIG
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoNoNo
Copy TradingSaxo BankMarkets.comIG
Social Trading / Copy TradingYesYesYes
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencySaxo BankMarkets.comIG
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)Saxo BankMarkets.comIG
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesNoYes
Indices (Index CFDs)Saxo BankMarkets.comIG
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsSaxo BankMarkets.comIG
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoYes
Social Trading / Copy TradingYesYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesYesYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformsSaxo BankMarkets.comIG
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesNo
Regulatory LicensesSaxo BankMarkets.comIG
Tier-1 Licenses627
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)NoNoNo
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)YesNoNo
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
CFTC Registered (USA)NoNoYes
Tier-2 Licenses122
Tier-3 Licenses011
Research, EducationSaxo BankMarkets.comIG
Trading Central (Recognia)NoNoNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesNoYes
Investor Dictionary (Glossary)YesNoYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesNoYes
Trading CostsSaxo BankMarkets.comIG
Minimum Initial Deposit€2,000$100£250.00
Average Spread EUR/USD - Standard0.9 (September 2022)1.9 (as of Oct 2019)0.86 (September 2022)
All-in Cost EUR/USD - Active0.7 (September 2022)1.9 (as of May 2019)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)NoNoYes
Trading ToolsSaxo BankMarkets.comIG
Watchlists - Total Fields62614
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)628933
Mobile Charting - Indicators / Studies62(default on MT4, none on Markets app)33
Trust FactorsSaxo BankMarkets.comIG
Year Founded199219991974
Publicly Traded (Listed)NoYesYes
BankYesNoYes
Authorised in European UnionYesYesYes
Trust Score999899
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Saxo Bank vs Markets.com 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 Markets.com.

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 Markets.com?

Markets.com has a trust score of 98, giving it a "Highly 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 Markets.com a good broker?

Markets.com may be an expensive option, but its trading platforms are easy to use, and traders gain access to a wide range of forex and CFD symbols.

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 Markets.com 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 Markets.com is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses Saxo Bank is none, while Markets.com 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 Markets.com offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does Saxo Bank offer MetaTrader? Does Markets.com offer MetaTrader?

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

Saxo Bank requires a minimum deposit of €2,000, while Markets.com requires a minimum deposit of $100. From our testing we found Saxo Bank offers spreads of 0.9 (September 2022), while Markets.com offers spreads of 1.9 (as of Oct 2019). Saxo Bank supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit) for popular funding options, where Markets.com 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 Markets.com?

Both Saxo Bank and Markets.com allow you to trade Forex Trading (Spot 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 60000, compared to 2179 from Markets.com.

Can I trade cryptocurrency with Saxo Bank or Markets.com?

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 Markets.com allow you to trade physical cryptocurrencies.

Who offers more research tools, Saxo Bank or Markets.com?

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 Markets.com has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)

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