Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

Saxo Capital Markets
8.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT SAXO CAPITAL MARKETS
FxNet
9.6 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FXNET
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

Saxo Capital Markets is regulated by the Financial Conduct Authority. Saxo Capital Markets have provided Forex, CFD, Binary options, Indices, CFDs, ETF & ETCs, Bonds and Stocks trading services since 2012.

FxNet is regulated by CySEC. FxNet have provided Forex, Spread betting, CFD, stocks, indices trading services since 2012.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters London, UK Limassol, Cyprus Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 180 48
Commodities Offered 70 21
Stocks Offered 19000 1606
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs Yes No Yes
IPO No No Yes
See all instruments

69% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

76% of retail CFD accounts lose money.

See all instruments

76% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No No
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms SaxoTrader No Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish

Arabic, Chinese, Croatian, Czech, English, Greek, Hungarian, Japanese, Persian, Polish, Romanian, Russian, Slovak, Spanish,and Vietnamese

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

69% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

76% of retail CFD accounts lose money.

See platform & features

76% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Saxo Capital Markets and FxNet

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes Yes No
Islamic account No Yes Yes
Zero spread account No Yes No
VIP account No Yes Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

69% of retail investor accounts lose money when trading CFDs with this provider.

See account options

76% of retail CFD accounts lose money.

See account options

76% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging No Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access No Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None None 100 Lot
Min deposit 6,500 $50 $1

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading No No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No Yes Yes
Skrill No No Yes
Payment processing time Varies 1-3 business days Same day if requested before 1PM
Withdrawal processing time Varies 1-3 business days Same day if requested before 1PM
See all funding options

69% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

76% of retail CFD accounts lose money.

See all funding options

76% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries CO, JP, Quebec, Saskatchewan, US CO, JP, Quebec, Saskatchewan, US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number No 357 25 108 111 44 2036953085
Live Chat No Yes Yes
Website http://uk.saxomarkets.com/ https://www.fxnet.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 0.2 pips + $2.00 Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) 0.2 pips + $2.00 Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) 0.2 pips + $2.00 Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) 0.4 pips + $2.00 Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) 0.8 pips + $2.00 Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) 0.8 pips + $2.00 Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) 0.8 pips + $2.00 Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) 0.6 pips + $2.00 Not offered 0.1 pips
View all spreads

69% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

76% of retail CFD accounts lose money.

View all spreads

76% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission Yes Yes Yes
Deposit Fee No Yes No
Withdrawal Fee No Yes No
View All Fees

69% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

76% of retail CFD accounts lose money.

View All Fees

76% of retail investor accounts lose money when trading CFDs with this provider.

Featured In Best Brokers For Indices
Best FTSE100 Brokers
Best Dow Jones Brokers
Best DAX Brokers
Best FCA Regulated Brokers
Best Brokers For Expert Advisors
Best 5 Digit Brokers
Best Brokers For Indices
Best FCA Regulated Brokers
Best CySEC Regulated Brokers
Best Brokers That Accept PayPal
Best Forex Islamic Accounts
Best Litecoin Brokers
Best Brokers For Gold
Best Brokers For Copper
Last update

All information collected from http://uk.saxomarkets.com/. Last updated on 01/10/2019.

All information collected from https://www.fxnet.com/. Last updated on 01/10/2019.

All information collected from www.xtb.com. Last updated on 01/10/2019.

Company

Saxo Capital Markets provides both retail and institutional traders access to FX, CFDs, ETFs, Stocks, Futures and Options markets using their award winning SaxoTrader platform providing traders the speed and performance you need. They are a trusted broker regulated by the Financial Conduct Authority in the UK. Saxo Capital Markets has access to over 30, 000 assets including over 19, 000 stocks and 9000 CFDs. With over 20 years in electronic trading, Saxo Capital Markets is a broker you can trust.

For more information about trading with Saxo Capital Markets, we have put together an indepth Saxo Capital Markets review with some of the pros and cons about this broker.

FxNet is an online forex trading service provider who are regulated by CySEC, Bafin, FCA. To open an account with FxNet, minimum deposits start from $50.

With FxNet you can trade Forex, commodities, CFDs on Shares, and equity indices. If you like to trade on the go, FxNet have iphone and android apps so you can trade from anywhere on your phone.

FxNet offer MAM, MT4 Desktop, MT4 iPhone/IPad, MT4 Android, MT4 Multiterminal, MT4 Mac OS Tutorial platforms to make your trades and support 8 different languages.

The spreads offered by FxNet for the most popular instruments are:
2.3 EUR/USD, 2.0 FTSE 100, 40 GOLD,
2.4 GBP/USD, 5.0 DOW/JONES, 50 Crude Oil,
see all the spreads here.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

Popular comparisons

Popular comparisons feat. Saxo Capital Markets

Saxo Capital Markets Alternatives

ETX Capital vs Saxo Capital Markets
Core Spreads vs Saxo Capital Markets
Plus500 vs Saxo Capital Markets
IG vs Saxo Capital Markets
Avatrade vs Saxo Capital Markets

Popular comparisons feat. FxNet

FxNet Alternatives

ETX Capital vs FxNet
Core Spreads vs FxNet
Plus500 vs XM
IG vs FxNet
GKFX vs FxNet

Popular comparisons feat. XTB

XTB Alternatives

XTB vs IG
XTB vs Plus500
XTB vs eToro
XTB vs Interactive Brokers
XTB vs XM

Saxo Capital Markets or FxNet?

A wide range of instruments or low spreads?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, Saxo Capital Markets is likely the better option out of these brokers. However, if you want a broker with lower spreads on currency pairs like EUR/USD, FxNet may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Saxo Capital Markets and FxNet to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Saxo Capital Markets is regulated by Financial Conduct Authority, while FxNet is regulated by Financial Conduct Authority, CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Saxo Capital Markets and FxNet will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Saxo Capital Markets has been around for 7 years, while FxNet have been around for 7 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Saxo Capital Markets and FxNet use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Saxo Capital Markets or FxNet in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Saxo Capital Markets is a publicly listed company, while on the other hand FxNet is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Saxo Capital Markets are based in London, UK, while FxNet are based in Limassol, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Saxo Capital Markets and FxNet offer forex trading. Saxo Capital Markets have a slightly larger variety of currency pairs with 180 pairs, compared to offered by FxNet. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, Saxo Capital Markets may be a better fit as FxNet does not offer commodity trading.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. FxNet, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Saxo Capital Markets does allow scalping but doesn't allow hedging. While FxNet also allows scalping and hedging. You can trade with EAs (expert advisors) on both Saxo Capital Markets and FxNet.

In terms of risk management tools, Saxo Capital Markets doesn't offer negative balance protection, but FxNet does. Negative balance protection prevents you owing your broker more than you’ve deposited.

Saxo Capital Markets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Saxo Capital Markets accept Payoneer while FxNet accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Saxo Capital Markets charges 0.10 points, while FxNet charges 2.30 points. Therefore, Saxo Capital Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Saxo Capital Markets or FxNet?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FxNet is more reliable based on our criteria above. Saxo Capital Markets has a wider range of instruments to trade. Saxo Capital Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.