Quick Facts

1. Regulation:
   CMC Markets is regulated by FCA (UK), ASIC (Australia), and MAS (Singapore),
   while Saxo Bank is regulated by FCA (UK), ASIC (Australia), and FINMA (Switzerland).
2. Minimum Deposit:
   CMC Markets offers a minimum deposit of $0 for some accounts, but others may require $2000,
   while Saxo Bank requires a minimum deposit of $1000.
3. Trading Platforms:
   CMC Markets uses its proprietary Next Generation platform, while Saxo Bank offers SaxoTrader, SaxoTraderGO, and SaxoInvestor.
4. Markets Available:
   CMC Markets offers over 10,000 financial instruments,
   while Saxo Bank offers over 60,000 financial instruments.
5. Spreads:
   CMC Markets offers variable spreads, with EUR/USD starting from 0.7 pips,
   while Saxo Bank’s EUR/USD spread starts from 0.6 pips for classic accounts and 0.0 pips for Pro accounts.
6. Leverage:
   Both CMC Markets and Saxo Bank offer leverage, but Saxo Bank’s goes up to 400:1 for certain instruments.
7. Fees:
   Saxo Bank charges fees for certain services, while CMC Markets charges fees for inactivity.
8. Research and Education:
   Both brokers offer robust research and educational tools,
   but Saxo Bank’s SaxoStrats and Morningstar research stand out.
9. Mobile App:
   CMC Markets offers mobile apps for both iOS and Android,
   as does Saxo Bank with its SaxoTrader mobile app.
10. Customer Support:
    Both brokers offer 24/5 customer support,
    with multilingual support and multiple contact methods.

CMC Markets vs Saxo Bank: A Comprehensive Comparison of Two Forex Broker Giants

When it comes to forex trading, choosing the right broker is a crucial decision that can significantly impact your financial results. Two popular options among traders are CMC Markets and Saxo Bank, both of which offer a range of features and services. In this article, we will compare and contrast these two brokers to help you make an informed decision.

Company Overview

Both CMC Markets and Saxo Bank are well-established brokerages with a long history in the industry.

• CMC Markets: Founded in 1989 in London, CMC Markets is a leading provider of online trading services. The company has expanded its operations to over 100 countries and has won numerous awards for its trading platform and customer service.
• Saxo Bank: Founded in 1992 in Denmark, Saxo Bank is a leading online brokerage that offers a range of financial services. The company has become a major player in the industry, with over 100,000 clients in 170 countries.

Trading Platforms

Both brokers offer advanced trading platforms that cater to different types of traders.

• CMC Markets: CMC Markets offers a proprietary trading platform called Next Generation, which provides advanced charting tools, risk management features, and one-click trading. The platform is available on desktop, web, and mobile devices.
• Saxo Bank: Saxo Bank offers a range of trading platforms, including SaxoTraderGO, SaxoTraderPRO, and SaxoInvestor. These platforms offer advanced features such as risk management tools, charting, and automated trading.

Account Types

Both brokers offer different account types to cater to various trading styles and requirements.

• CMC Markets: CMC Markets offers a standard and professional account type, with the main difference being the spreads and leverage. Professional traders can access better spreads and higher leverage, but must also meet specific trading requirements.
• Saxo Bank: Saxo Bank offers a range of account types, including Classic, Platinum, and VIP. Each account type offers different features such as tighter spreads, higher leverage, and access to advanced trading tools.

Fees and Spreads

Both brokers charge fees and spreads on currency pairs, but the costs vary depending on the account type and market conditions.

• CMC Markets: CMC Markets charges spreads that range from 0.7 pips on major currency pairs and up to 20 pips on minor pairs. The broker also charges a commission on CFD trading, which ranges from 0.10% to 0.20%.
• Saxo Bank: Saxo Bank charges spreads that range from 0.6 pips on major currency pairs and up to 15 pips on minor pairs. The broker also charges a commission on CFD trading, which ranges from 0.10% to 0.20%.

Regulation and Security

Both brokers are regulated by reputable financial authorities, ensuring a safe and secure trading environment.

• CMC Markets: CMC Markets is regulated by the UK Financial Conduct Authority (FCA) and holds a license from the EU to operate as a MiFID-compliant broker.
• Saxo Bank: Saxo Bank is regulated by the Danish Financial Supervisory Authority (FSA) and holds a license from the EU to operate as a MiFID-compliant broker.

Educational Resources and Customer Support

Both brokers offer comprehensive educational resources and customer support to help traders navigate the markets.

• CMC Markets: CMC Markets offers a range of educational resources, including video tutorials, webinars, and market analysis. The broker also provides a 24/5 customer support service via phone, email, and live chat.
• Saxo Bank: Saxo Bank offers a comprehensive range of educational resources, including trading guides, webinars, and market analysis. The broker also provides a 24/5 customer support service via phone, email, and live chat.

Recommended Broker

Based on our research, we recommend Saxo Bank as the better option for traders. Saxo Bank offers a wider range of trading platforms, competitive spreads, and a comprehensive range of educational resources.

Disclaimer: The information provided in this article is for general information purposes only. It is not intended to be professional advice or specific investment advice.

Frequently Asked Questions:

Q: Which broker is more regulated?

A: Both CMC Markets and Saxo Bank are well-regulated, but Saxo Bank has more licenses from top-tier regulators.

Q: Which broker offers more trading platforms?

A: CMC Markets offers more trading platforms, including MetaTrader 4.

Q: Which broker has more account types?

A: Saxo Bank has more account types, but CMC Markets has more competitive spreads.