XM vs Saxo Markets, Updated for 2024

Compare XM vs Saxo Markets

All trading platforms will have a few pros and cons, and a complete review of XM and Saxo Markets cannnot be regarded as thorough without having a fair assessment.

Examine XM and Saxo Markets to understand just how these platforms compare with each prior to you decide to open an account. A comprehensive comparison will place factors in perspective to ensure that you are aware of what to expect.

So you are looking for a reputable broker and are choosing between XM or Saxo Markets. Which one is best in 2024?

Our XM vs Saxo Markets comparison contains the most recent information so you can easily compare Saxo Markets against XM.

If you're a new entrant in the realm of trading and brokers, so many facts will be confusing for you. Getting into the world of trading demands expert analyzing skills and thorough understanding. You will acquire adept at all of the concepts of brokerage as you keep trading. For starters, you need to choose the ideal broker who will be clear with you always.

In this fast-paced world of stock markets and trading, you'll need guidance to make proper decisions. A professionally lead investment program has the potential to create hefty returns. XM and Saxo Markets are two such platforms that will take you and your investment to great heights. It's important that you compare XM vs Saxo Markets before you trust them with your cash.

Our XM vs Saxo Markets comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust XM and Saxo Markets side by side.

Our entire XM vs Saxo Markets Review covers everything you will need to know about trading with either XM or Saxo Markets. A good agent can multiply your initial investments and provide you favorable profits. If you want to make profits, you should trade with a broker service that contrasts with your investment objectives.

There is no sure-fire way to guarantee profits; therefore, you must carefully assess your broker before you select them. It is a common misconception that all agents will be exactly the same, but that's not true. Wrong judgment, initially, can put your investments at risk.

XM and Saxo Markets are both brokers that have paved their way successfully into the brokerage world. Within this review, we've attempted to collate a number of the vital facets of both XM and Saxo Markets. This review will allow you to understand whether either Saxo Markets or XM is a fantastic match for your own investments or not. We've tried to breakdown all of the features and fees for your convenience.

Benefits of XM and Saxo Markets Compared

XM has a minimum deposit of $5 while Saxo Markets offers a $6500 minimum deposit.

Why smaller minimum deposits are good and how XM and Saxo Markets compare

The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.

XM has around 100 financial instruments whilst Saxo Markets allows you to trade around 100 available.

The more instruments you can trade on the XM and Saxo Markets trading platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you never want to miss out on a trading opportunity due to the limitations of XM or Saxo Markets.

XM and Saxo Markets Contact Details

Being able to contact a broker simply is a sign of a professional broker. XM and Saxo Markets have the following contact details and social medias that you can use.

Saxo Markets and XM Mobile App Comparison

As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.

This part of comparing XM and Saxo Markets will examine whether their mobile app meets all our requirements.

Overall, we rate the user-friendliness of the apps as better than average.

It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.

Search Functions

While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?

XM vs Saxo Markets - Awards

XM vs Saxo Markets - Frequently Asked Questions

XM vs Saxo Markets - Headquarters And Year Of Founding

XM was founded in 2009 and has its headquaters in Cyprus.

Saxo Markets was founded in 2012 and has its head office in Denmark.

What is the minimum deposit for Saxo Markets or XM

The minimum deposit for XM is $5.

The minimum deposit for Saxo Markets is $6500.

Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both XM and Saxo Markets are a good choice.

XM vs Saxo Markets - Regulation And Licencing In More Detail

XM is regulated by International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC).

Saxo Markets is regulated by Financial Conduct Authority (FCA).

Both XM and Saxo Markets have a powerful set of rules for ensuring fair trading on their platforms. For data encryption functions, they provide industry-standard secure socket layers (SSL).

As per their privacy policies, customer information is never to be shared with any other institutions or individuals. This includes credit history and other financial details.

Compare XM vs Saxo Markets Commission And Fees

XM and Saxo Markets are online broker platforms, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the businesses of online brokerages are scaled better. In other words, an internet broker is not necessarily affected by the number of customers they have.

But this doesn't necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for various services to make money. There are primarily three different types of fees for this purpose.

The first kind of fees to look out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In these instances, you're paying a spread, funding rate, or even a commission. The sorts of trading fees and the rates vary from broker to broker.

Commissions could be fixed or dependent on the traded quantity. On the other hand, a spread denotes the difference between the buying and selling cost. Financing or overnight rates are people who are billed when you maintain a leveraged position for longer than a day.

Aside from trading fees, online brokers also bill non-trading fees. These are determined by the actions you undertake in your account. They are billed for surgeries like depositing cash, not trading for long periods, or withdrawals.

Generally, neither XM or Saxo Markets charge high fees compared to other online agents. For operations other brokers charge for, they do not charge a brokerage fee, or they charge a smaller amount. This is beneficial for people who regularly trade, for example weekly or daily trading.

However, non-trading fees charged by XM and Saxo Markets are relatively greater. Consequently, you're billed more for non-trading actions on your trading account, like withdrawal and deposits. These are not about the purchase and sale of assets.

This XM vs Saxo Markets review for 2024 breaks down every one of the applicable non-trading fees for you in detail.

Compare Broker Fees For XM And Saxo Markets

What Languages Do XM And Saxo Markets Support?

Being able to communicate completely with your online broker is a key element when comparing online brokers to find your perfect trading partner. Not only for support but to be sure you understand everything on their site and inside their application as it is a key factor to success when trading forex.

Below you can find the languages that both XM and Saxo Markets offer communication in.

How Many Clients Do XM and Saxo Markets Have?

Both XM and Saxo Markets are well known and trusted. It is really important to work with an online broker that is reputable and one of the most simple ways of establishing this is by knowing how many clients are using their services.

Below you will find details of how many clients XM and Saxo Markets are active on their platform

What Payment Methods Do XM and Saxo Markets Accept?

XM and Saxo Markets both offer a wide range of payment options which is vital when you have a global customer base.

Below you will find details of all the payment options available at XM and Saxo Markets

What Can You Trade With XM and Saxo Markets?

XM offers 100 trading instruments and Saxo Markets offers 100.

Below you will find a full breakdown of what both XM and Saxo Markets offer.