Quick Facts
- Established Year: Saxo Bank (1992) vs Alpari (1998)
- Regulation: Saxo Bank (FCA, ASIC, FINMA) vs Alpari (FCA, NFA, LFSA)
- Leverage: Saxo Bank (up to 1:100) vs Alpari (up to 1:1000)
- Minimum Deposit: Saxo Bank ($2000) vs Alpari ($100)
- Platforms: Saxo Bank (SaxoTrader, SaxoTraderGO) vs Alpari (MetaTrader 4/5, Alpari Direct)
- Execution: Saxo Bank (ECN, STP, Market Maker) vs Alpari (ECN, STP, Market Maker)
- Instrument Options: Saxo Bank (Forex, CFDs, Stocks, Futures) vs Alpari (Forex, CFDs, Metals, Indices)
- Commissions: Saxo Bank (variable spreads) vs Alpari (variable spreads and commissions)
- Client Support: Saxo Bank (24/5 support) vs Alpari (24/7 support)
- Awards: Saxo Bank (Won multiple awards for Best Online FX Provider) vs Alpari (Won multiple awards for Best Forex Broker)
Compare Forex Broker Saxo Bank vs Alpari: Which is the Best for You?
When it comes to choosing a reliable forex broker, there are numerous options available in the market. Two of the most popular forex brokers are Saxo Bank and Alpari. Both brokers have been in the industry for a long time and offer a range of services to their clients. However, there are some key differences between them that can help you decide which one is the best for your forex trading needs.
About Saxo Bank
Saxo Bank is a Danish-based online trading company that was founded in 1992. It is a fully licensed and regulated bank that offers a range of financial products and services, including forex, CFDs, stocks, and commodities. Saxo Bank is known for its innovative trading platforms and competitive pricing. It has a strong presence in Europe and Asia, with offices in over 15 countries.
About Alpari
Alpari is a Russian-based online forex broker that was founded in 1998. It is one of the largest and most popular forex brokers in the world, with over 1 million registered clients. Alpari offers a range of financial products and services, including forex, CFDs, metals, and indices. It is known for its low trading costs, high leverage options, and advanced trading platforms.
Comparison of Saxo Bank and Alpari
Trading Platforms
Both Saxo Bank and Alpari offer advanced trading platforms that cater to different types of traders. Saxo Bank offers the SaxoTraderGO platform, which is a user-friendly platform that offers a range of tools and features, including charting, technical analysis, and risk management. Alpari offers the MetaTrader 4 and MetaTrader 5 platforms, which are popular among forex traders.
| Platform | Saxo Bank | Alpari |
|---|---|---|
| Web-based | SaxoTraderGO | MetaTrader 4 and 5 |
| Mobile | SaxoTraderGO | MetaTrader 4 and 5 |
| Desktop | SaxoTraderGO | MetaTrader 4 and 5 |
Trading Conditions
Both Saxo Bank and Alpari offer competitive trading conditions, including tight spreads, low commissions, and high leverage options. Saxo Bank offers a minimum lot size of 0.01 lots, while Alpari offers a minimum lot size of 0.1 lots.
| Trading Condition | Saxo Bank | Alpari |
|---|---|---|
| Minimum Lot Size | 0.01 lots | 0.1 lots |
| Maximum Leverage | 1:200 | 1:1000 |
| Commissions | 0.01 USD per share | No commissions for forex and CFDs |
Deposit and Withdrawal Methods
Both Saxo Bank and Alpari offer a range of deposit and withdrawal methods, including credit/debit cards, bank wires, and e-wallets. Saxo Bank offers faster withdrawal times, with most withdrawals processed within 24 hours. Alpari also offers flexible withdrawal options, with no fees for withdrawals via credit/debit cards and e-wallets.
| Deposit Method | Saxo Bank | Alpari |
|---|---|---|
| Credit/Debit Cards | Available | Available |
| Bank Wires | Available | Available |
| E-wallets | Available | Available |
Recommendation
Based on our analysis, we recommend Saxo Bank for beginner traders who want to start with a broker that offers a user-friendly trading platform and competitive pricing. We also recommend Alpari for experienced traders who want to take advantage of low trading costs, high leverage options, and advanced trading platforms.
We hope this review has helped you make an informed decision about which forex broker is best for you. Remember to always do your own research and compare different brokers before making a final decision.
Saxo Bank Details:
- Web: saxobank.com
- Headquarters: Kongens Nytorv 6, 1090 København K, Denmark
- Founded: 1992
- Licence: Saxo Bank is a fully licensed and regulated bank
Alpari Details:
- Web: alpari.com
- Headquarters: Magnolia Centre, Unit 3 & 4, 1st Floor, P.O.Box 173, Road Town, Tortola, BVI
- Founded: 1998
- Licence: Alpari is a registered company in the British Virgin Islands
Disclaimer:
The information provided on this website is for general guidance only and is not intended as investment advice. Trading in the financial markets carries risks and may result in loss of some or all of your investment. All traders should do their own research and consider seeking financial advice before opening an account with any online broker.
Frequently Asked Questions:
Overview
When it comes to choosing a reliable Forex broker, two popular options are Saxo Bank and Alpari. Both brokers have their strengths and weaknesses, and in this FAQ, we’ll compare and contrast their features, fees, and services to help you make an informed decision.
Frequently Asked Questions
Q: What is the minimum deposit required to open an account with Saxo Bank and Alpari?
A: Saxo Bank: The minimum deposit required to open a Classic account with Saxo Bank is $2,000 for non-US clients and $10,000 for US clients. Alpari: The minimum deposit required to open a Standard account with Alpari is $/€5.
Q: Which broker offers more currency pairs?
A: Saxo Bank: Saxo Bank offers over 170 currency pairs, including major, minor, and exotic pairs. Alpari: Alpari offers over 60 currency pairs, including major, minor, and some exotic pairs.
Q: What is the leverage offered by Saxo Bank and Alpari?
A: Saxo Bank: Saxo Bank offers leverage up to 1:200 for non-US clients and 1:50 for US clients. Alpari: Alpari offers leverage up to 1:1000.
Q: Which broker has better spreads?
A: Saxo Bank: Saxo Bank’s average spread on EUR/USD is around 0.8-1.5 pips. Alpari: Alpari’s average spread on EUR/USD is around 1.0-2.0 pips.
Q: Does Saxo Bank and Alpari offer MT4 and MT5 platforms?
A: Saxo Bank: Saxo Bank offers its proprietary SaxoTrader platform, as well as MT4 for some account types. Alpari: Alpari offers MT4, MT5, and its proprietary Alpari Direct platform.
Q: What customer support options are available with Saxo Bank and Alpari?
A: Saxo Bank: Saxo Bank offers 24/5 phone support, email support, and live chat support. Alpari: Alpari offers 24/5 phone support, email support, and live chat support.
Q: Is Saxo Bank and Alpari regulated?
A: Saxo Bank: Saxo Bank is regulated by the UK Financial Conduct Authority (FCA), the Danish Financial Supervisory Authority (FSA), and the US Securities and Exchange Commission (SEC). Alpari: Alpari is regulated by the UK Financial Conduct Authority (FCA), the Belize International Financial Services Commission (IFSC), and the Russian Federal Financial Markets Service (FFMS).
Conclusion
Both Saxo Bank and Alpari are reputable Forex brokers with their own strengths and weaknesses. Saxo Bank is known for its wide range of currency pairs, low spreads, and robust platform, while Alpari offers competitive spreads, high leverage, and a user-friendly interface. Ultimately, the choice between Saxo Bank and Alpari depends on your individual trading needs and preferences.
Rating
Saxo Bank: 4.5/5
Alpari: 4.2/5
