FP Markets vs Saxo Bank
Side-by-side broker intelligence across regulation, spreads, fees, platforms, and overall model score. Category winners use transparent heuristics and should be treated as editorial guidance, not investment advice.
4.5
4.5
0 pts
Head to head
Winners by category
Full comparison table
Rating
FP Markets
4.5
Saxo Bank
4.5
Model score
FP Markets
80
Saxo Bank
80
Regulation
FP Markets
Authorized and regulated by multiple international bodies, including the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and Financial Sector Conduct Authority (FSCA, South Africa).
Saxo Bank
Highly secure and trusted, operating as a licensed bank. It is authorized by seven Tier-1 regulators globally, including the FCA (UK), FSA (Denmark), FINMA (Switzerland), ASIC (Australia), MAS (Singapore), and JFSA (Japan).
Spreads
FP Markets
True ECN liquidity aggregation with fast average execution times under 40 milliseconds. Spreads on EUR/USD and USD/JPY frequently hover at 0.0 to 0.1 pips during peak market liquidity.
Saxo Bank
Spreads vary significantly by account tier. Classic accounts have average industry spreads, while VIP accounts can see minimum spreads as low as 0.4 pips on major pairs like the EUR/USD. Saxo provides highly reliable, bank-grade execution liquidity.
Fees
FP Markets
Highly competitive pricing structure. The Raw Account charges a low $3.00 per lot per side ($6.00 round turn) with raw interbank spreads. The Standard Account is zero-commission with spreads starting from 1.0 pip. No deposit or withdrawal fees for most methods.
Saxo Bank
Forex trading is generally commission-free, with costs baked into the spread (except for trades under 50,000 units, which incur a small ticket fee). Custody fees and inactivity fees may apply depending on the region and account tier, though they are reduced or waived for higher-tier accounts.
Platforms
FP Markets
Comprehensive suite containing MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, Iress ViewPoint (for direct-market-access shares), and the FP Markets mobile app.
Saxo Bank
Saxo does not use MetaTrader. Instead, it offers its world-class proprietary suite: SaxoTraderGO (a highly intuitive web and mobile platform) and SaxoTraderPRO (an advanced, customizable desktop platform designed for active professionals).
Account types
FP Markets
Forex & CFD accounts: Standard (spread-only) and Raw (commission + raw spread). Separate Iress Accounts (Standard, Platinum, Premier) for DMA share trading. Islamic (swap-free) accounts are available upon request.
Saxo Bank
Offers three main tiers that determine pricing and perks: Classic, Platinum, and VIP. All accounts operate on the same platforms, but higher tiers unlock dedicated support, exclusive events, and lower spreads.
Min deposit
FP Markets
$100 AUD (or $100 USD equivalent) for Standard and Raw MT4/MT5/cTrader accounts.
Saxo Bank
$0 for the entry-level Classic account. (Note: Upgrading to Platinum requires a minimum of $200,000, and VIP requires $1,000,000, or equivalent high-volume trading points).
| Topic | FP Markets | Saxo Bank |
|---|---|---|
| Rating | 4.5 | 4.5 |
| Model score | 80 | 80 |
| Regulation | Authorized and regulated by multiple international bodies, including the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and Financial Sector Conduct Authority (FSCA, South Africa). | Highly secure and trusted, operating as a licensed bank. It is authorized by seven Tier-1 regulators globally, including the FCA (UK), FSA (Denmark), FINMA (Switzerland), ASIC (Australia), MAS (Singapore), and JFSA (Japan). |
| Spreads | True ECN liquidity aggregation with fast average execution times under 40 milliseconds. Spreads on EUR/USD and USD/JPY frequently hover at 0.0 to 0.1 pips during peak market liquidity. | Spreads vary significantly by account tier. Classic accounts have average industry spreads, while VIP accounts can see minimum spreads as low as 0.4 pips on major pairs like the EUR/USD. Saxo provides highly reliable, bank-grade execution liquidity. |
| Fees | Highly competitive pricing structure. The Raw Account charges a low $3.00 per lot per side ($6.00 round turn) with raw interbank spreads. The Standard Account is zero-commission with spreads starting from 1.0 pip. No deposit or withdrawal fees for most methods. | Forex trading is generally commission-free, with costs baked into the spread (except for trades under 50,000 units, which incur a small ticket fee). Custody fees and inactivity fees may apply depending on the region and account tier, though they are reduced or waived for higher-tier accounts. |
| Platforms | Comprehensive suite containing MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, Iress ViewPoint (for direct-market-access shares), and the FP Markets mobile app. | Saxo does not use MetaTrader. Instead, it offers its world-class proprietary suite: SaxoTraderGO (a highly intuitive web and mobile platform) and SaxoTraderPRO (an advanced, customizable desktop platform designed for active professionals). |
| Account types | Forex & CFD accounts: Standard (spread-only) and Raw (commission + raw spread). Separate Iress Accounts (Standard, Platinum, Premier) for DMA share trading. Islamic (swap-free) accounts are available upon request. | Offers three main tiers that determine pricing and perks: Classic, Platinum, and VIP. All accounts operate on the same platforms, but higher tiers unlock dedicated support, exclusive events, and lower spreads. |
| Min deposit | $100 AUD (or $100 USD equivalent) for Standard and Raw MT4/MT5/cTrader accounts. | $0 for the entry-level Classic account. (Note: Upgrading to Platinum requires a minimum of $200,000, and VIP requires $1,000,000, or equivalent high-volume trading points). |