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Saxo Bank vs Admirals Forex Broker Comparison Review and Ratings
Quick Facts
Regulation: Saxo Bank is regulated by multiple top-tier regulators, including the Danish FSA, Swiss FINMA, and UK FCA, while Admirals is also regulated by the UK FCA, Australian ASIC, and Estonian FSA, as well as multiple EU regulators via MiFID.
Minimum Deposit: Saxo Bank requires a minimum deposit of $10,000 (or equivalent) for its account types, whereas Admirals has a lower minimum deposit requirement of $100.
Leverage: Saxo Bank offers up to 200:1 leverage, while Admirals offers up to 500:1 leverage for professional traders.
Platforms: Saxo Bank has its own proprietary platforms SaxoTraderGO, and SaxoTraderPRO, while Admirals clients have access to MetaTrader 4 and MetaTrader 5, as well as the MetaTrader Supreme Edition extension.
Assets Offered: Saxo Bank offers more than 40,000 financial products to trade, including CFDs, ETFS, ETCs, futures, options, and physical stocks, while Admirals has over 8,000 tradable assets, including currencies, commodities, stocks, and bonds.
Fees: Saxo Bank charges a flat trading commission, while Admirals charges competitive spreads (starting at 0.1 pips for major currency pairs).
Account Types: Saxo Bank offers three main account types: Classic, Platinum, and VIP, whereas Admirals offers three main account types, Micro, Premium, and Invest
Islamic Accounts: Both Saxo Bank and Admirals offer Islamic or swap-free accounts for their clients.
Customer Service: Saxo Bank has 24/5 support with extensive educational content and customer care team, while Admirals offers 24/5 multilingual client support, customer care team as well as extensive educational material.
Education and Research: Saxo Bank offers vast market analysis and detailed trade ideas through Saxo’s Market Analysis and Trade Ideas, whereas Admirals provides trading tips, analytics as well as training through the trading Academy.
Forex Broker Comparison: Saxo Bank vs Admirals
Forex Trading Brokers: Choosing the Best for Your Needs
As the world of Forex trading continues to grow, so does the number of Forex brokers vying for your business. Choosing the right broker can be a daunting task, with so many factors to consider, from trading platforms and fees to regulation and customer support. In this article, we compare two well-established Forex brokers, Saxo Bank and Admirals, to help you make an informed decision about which broker is best for your needs.
About Saxo Bank
Saxo Bank is a Danish investment bank that specializes in online trading services. Founded in 1992, Saxo Bank is one of the oldest and most respected Forex brokers in the industry. With over 850,000 clients and $71 billion in assets under management, Saxo Bank is a major player in the world of Forex trading. Saxo Bank offers a wide range of trading platforms, including its proprietary SaxoTraderGo platform and the popular MetaTrader 4 platform.
About Admirals
Admirals, formerly known as Admiral Markets, is a Forex broker that was founded in 2001. With over 150,000 clients and $150 million in revenue, Admirals is a well-established and respected broker. Admirals offers a range of trading platforms, including MetaTrader 4 and MetaTrader 5, as well as its proprietary Admirals Trader Suite.
Trading Platforms: Saxo Bank vs Admirals
Both Saxo Bank and Admirals offer a range of trading platforms, but Saxo Bank’s proprietary SaxoTraderGo platform stands out as one of the best in the industry. SaxoTraderGo offers advanced features such as algorithmic trading, sentiment analysis, and robust charting tools.
Admirals, on the other hand, relies on the popular MetaTrader 4 and MetaTrader 5 platforms. While these platforms are well-respected and widely used, they may not offer the same level of advanced features as SaxoTraderGo.
Feature
Saxo Bank
Admirals
Trading Platforms
SaxoTraderGo, MetaTrader 4
MetaTrader 4, MetaTrader 5
Algorithmic Trading
Yes
Yes
Sentiment Analysis
Yes
No
Charting Tools
Advanced
Basic
Fees and Commissions: Saxo Bank vs Admirals
Both Saxo Bank and Admirals charge fees and commissions on trades, but the rates vary. Saxo Bank charges a spread-based commission on Forex trades, while Admirals charges a commission on certain types of trades, such as futures and options.
Saxo Bank Fees and Commissions:
Forex: 0.5-1.5 pips per trade (depending on the currency pair)
CFDs: $1-5 per trade (depending on the instrument)
Futures and Options: $5-10 per trade (depending on the instrument)
Admirals Fees and Commissions:
Forex: 0.5-2 pips per trade (depending on the currency pair)
CFDs: $1-5 per trade (depending on the instrument)
Futures and Options: $10-20 per trade (depending on the instrument)
Tradable Instruments: Saxo Bank vs Admirals
Both Saxo Bank and Admirals offer a wide range of tradable instruments, including Forex, CFDs, futures, and options. However, Saxo Bank’s range of tradable instruments is significantly larger, with over 40,000 instruments available.
Feature
Saxo Bank
Admirals
Tradable Instruments
40,000+
10,000+
Forex
170+ currency pairs
100+ currency pairs
CFDs
5,000+
3,000+
Futures and Options
15,000+
5,000+
Regulation and Safety: Saxo Bank vs Admirals
Both Saxo Bank and Admirals are well-regulated, with licenses from top regulatory bodies such as the Danish Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC). Saxo Bank is also a member of the Investment Industry Regulatory Organization of Canada (IIROC).
Saxo Bank Regulation:
Danish Financial Supervisory Authority (FSA)
Australian Securities and Investments Commission (ASIC)
Investment Industry Regulatory Organization of Canada (IIROC)
Admirals Regulation:
Estonian Financial Supervision Authority (EFSA)
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
Customer Support: Saxo Bank vs Admirals
Both Saxo Bank and Admirals offer multi-lingual customer support, with a range of contact options including phone, email, and live chat.
Saxo Bank Customer Support:
Phone: 24/5 support
Email: 24/5 support
Live Chat: 24/5 support
Admirals Customer Support:
Phone: 24/5 support
Email: 24/5 support
Live Chat: 24/5 support
Frequently Asked Questions:
Overview
When it comes to choosing a forex broker, it’s essential to compare the features, fees, and services offered by different providers. In this FAQ, we’ll compare two popular brokers: Saxo Bank and Admirals.
Q1: What are the key similarities between Saxo Bank and Admirals?
Both Saxo Bank and Admirals offer online trading services in forex, CFDs, and other financial instruments. Both brokers have a strong international presence, with offices in multiple countries. Both offer a range of trading platforms, including MetaTrader and proprietary platforms.
Feature
Saxo Bank
Admirals
Fully licensed
Multi-asset trading
Q2: What are the key differences between Saxo Bank and Admirals?
Saxo Bank offers a more comprehensive range of trading instruments, including futures and options. Admirals offers a more user-friendly trading platform, with a more intuitive interface. Saxo Bank has a more extensive research and analysis section, with more in-depth market insights.
Feature
Saxo Bank
Admirals
Trading instruments
Forex, CFDs, futures, options
Forex, CFDs, indices, cryptocurrencies
Trading platforms
SaxoTrader, MetaTrader
MetaTrader, Admirals WebTrader
Minimum deposit
$10,000
$100
Q3: Which broker has lower fees and spreads?
Saxo Bank has lower fees for some trading instruments, such as futures and options. Admirals has lower spreads for some forex pairs, especially for major pairs like EUR/USD. Both brokers offer competitive pricing, but Saxo Bank’s fees can be higher for some instruments.
Instrument
Saxo Bank spread
Admirals spread
EUR/USD
0.8 pips
0.6 pips
GBP/USD
1.2 pips
1.0 pip
Q4: Which broker has better customer support?
Saxo Bank offers 24/5 customer support via phone, email, and live chat. Admirals offers 24/7 customer support via phone, email, and live chat. Both brokers have a comprehensive FAQ section and online resources, but Admirals’ support is available 24/7.
Broker
Support hours
Contact methods
Saxo Bank
24/5
Phone, email, live chat
Admirals
24/7
Phone, email, live chat
Q5: Which broker is more reliable and secure?
Both Saxo Bank and Admirals are fully licensed and regulated by reputable authorities. Saxo Bank is regulated by the Danish Financial Services Authority, while Admirals is regulated by the UK Financial Conduct Authority. Both brokers have a strong reputation for security and reliability, but Saxo Bank has a longer history of operation.
