Saxo Bank vs FXOpen

Saxo or FXOpen – which is better for UK traders 2025? Compare Saxo and FXOpen in this detailed breakdown of their platforms, features and fees.

Saxo vs FXOpen Comparison Table 2025
Saxo FXOpen
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4
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3.7
Saxo is ranked #65 among CFD brokers. FXOpen is ranked #63 among CFD brokers.
Review
Review
Saxo Markets is a renowned trading brokerage, investment firm, and regulated bank. Featuring over 72,000 trading instruments, alongside investment products and managed portfolios, it provides abundant opportunities for clients. This reputable brand ensures transparent pricing and is protected by top-tier regulations from more than ten agencies, including FINMA, FCA, and ASIC. Founded in 2005, FXOpen is a well-regulated broker that has drawn over one million traders. Tailored for active trading, it offers a diverse range of over 700 markets. The platform facilitates high-frequency trading, scalping, and various algorithmic strategies through the use of expert advisors (EAs).
66% of retail accounts lose money.
Pros
  • Advanced proprietary trading platforms featuring extensive charting options and sophisticated analysis tools.
  • Elite research centre offering specialised market analysis and exclusive forecasts, including 'Outrageous Predictions'.
  • Outstanding educational materials are available, such as podcasts, webinars, and expert-led videos.
  • Access to advanced external analysis tools, such as TradingView and Updata, is available.
  • The ISA account offers easy access and flexibility, as it incurs neither entry nor exit fees.
  • A well-regulated and reputable firm located in Switzerland.
  • Reduced fees with advanced account levels.
  • FXOpen integrated TradingView in 2022 and enhanced its TickTrader platform in 2024. This upgrade delivers Level 2 pricing, over 1,200 trading instruments, and sophisticated order options. The platform appeals to both seasoned and high-frequency traders.
  • FXOpen significantly cut FX spreads by over 40% in 2022. In 2023, they launched commission-free index trading. These changes make trading more economical for traders.
  • In 2024, FXOpen simplified its account options. Traders now benefit from ECN accounts with raw spreads starting at 0.0 pips. The platform offers rapid execution and reduced commissions for those with high trading volumes, enhancing user experience.
Cons
  • Trading accounts require substantial financial investment.
  • A subscription is necessary to access Level 2 pricing.
  • Clients from certain regions, such as the US and Belgium, are not accepted.
  • Though FXOpen remains a trusted broker with authorizations from the FCA and CySEC, it lost its ASIC license in 2024 due to 'serious concerns.' Consequently, it no longer accepts traders from Australia.
  • FXOpen's educational resources are quite limited, with a scarcity of courses and webinars commonly available at brokers such as IG. This deficiency may deter novice traders looking to enhance their understanding.
  • Even with an expanded asset portfolio, FXOpen provides a more limited selection of global stocks, commodities, and cryptocurrencies compared to the leading firm BlackBull. This results in fewer diverse trading opportunities for traders.
Awards
  • Best ECN Broker 2012 - Masterforex-V
  • Best Forex Broker in Australasia 2011 - World Finance Magazine
  • Best Islamic Forex Broker 2011 - IB Times Trading Awards
  • Best South-East Asia Forex Broker and Best ECN Forex Broker 2011 - IB Times Trading Awards
  • Best Trading Platform 2010 - Falcon Awards
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs
Demo Account
Yes Yes
Minimum Deposit
£500 $100
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC, FINMA, AMF, CONSOB FCA, CySEC, FC
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) iOS & Android
Trading App

The FXOpen Trading App is a user-friendly mobile app for trading 700+ global markets. With real-time data, level 2 pricing, live charts, and financial news, it’s been refined over the years to deliver one of the highest Android app store ratings we’ve seen – a testament to its top-notch user experience.
iOS App Rating
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4.6
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5
Android App Rating
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4.6
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5
Margin Trading
No Yes
MetaTrader 4
No Yes
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes Yes
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No Yes
ECN Account
Yes Yes
DMA Account
No Yes
MAM Account
No No
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
FXOpen's PAMM Copy Trading service enables investors to replicate the strategies of seasoned traders. It offers a clear, performance-focused system with flexibility, automated profit-sharing, and thorough account management.
Social Trading
No No
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
No Yes
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • CHF
  • SGD
  • RUB
Commodities
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
  • Gold
  • Silver
  • Oil
  • Natural Gas
CFD
Trade over 8,900 CFDs, including forex, stocks, indices, commodities, options, and bonds. Utilise advanced tools and signals to enhance your trading experience. FXOpen offers an impressive array of CFDs, including over 700 assets like stocks, indices, currencies, commodities, cryptocurrencies, and a wider selection of ETFs. Since 2022, the inclusion of TradingView and enhancements to the TickTrader platform have equipped traders with superior tools. FXOpen thus delivers a comprehensive trading experience.
Leverage
1:30 1:30 (EU, UK), 1:1000 (Global)
FTSE Spread
1.2 pts (Variable) 0.7
GBPUSD Spread<
0.7 (var) 0.4
Oil Spread
0.03 0.04
Stocks Spread
0.10% (subject to min commission) 0.40 (Apple)
Forex
Access top-tier liquidity across an extensive selection of 189 currency pairs and spot metals, as well as 130 forwards, with spreads starting as low as 0.4 pips.
Assets
40+ 50+
GBPUSD Spread
0.7 (varies by region) 0.4
EURUSD Spread
0.2 (varies by region) 0.2
EURGBP Spread
0.6 (varies by region) 0.5
Cryptocurrency
Engage in trading cryptocurrencies against leading fiat currencies, or adopt a longer-term strategy through ETNs. FXOpen provides more than 40 cryptocurrency CFDs, featuring both crypto-only pairs and those paired with traditional currencies like GBP, USD, and JPY. Traders can leverage their crypto CFD trades at a ratio of 1:2. There are three types of orders available: market, limit, and stop, and scripts are on hand for automated trading.
Spread
Variable 9.0 (BTC)
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • XTZ
  • SOL
  • ADA
  • DOT
  • BTC
  • BCH
  • ETH
  • LTC
  • ETC
  • EOS
  • DSH
  • XRP
  • IOT
  • XMR
  • NEO
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Saxo FXOpen
Review
Review
66% of retail accounts lose money.
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