4.5
4.5
6 pts
Head to head
Winners by category
Full comparison table
Rating
Saxo Bank
4.5
XM
4.5
Model score
Saxo Bank
80
XM
86
Regulation
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).
XM
ASIC (Australia), CySEC (Cyprus), DFSA (Dubai), FSC (Belize)
Spreads
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.
XM
Spreads start from 0.6 pips on XM Ultra Low accounts. 99.35% of orders executed in under 1 second with no requotes or order rejections.
Fees
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.
XM
XM Ultra Low Account: Spread-only pricing from 0.6 pips with zero commissions. Standard & Micro Accounts: Spreads start from 1.0 pips with no commission. Shares Account: Commission-based equity trading.
Platforms
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).
XM
MetaTrader 4 (MT4), MetaTrader 5 (MT5), XM App
Account types
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.
XM
Micro, Standard, XM Ultra Low, Shares Account, Swap-Free (Islamic), Demo
Min deposit
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).
XM
$5
| Topic | Saxo Bank | XM |
|---|---|---|
| Rating | 4.5 | 4.5 |
| Model score | 80 | 86 |
| Regulation | 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). | ASIC (Australia), CySEC (Cyprus), DFSA (Dubai), FSC (Belize) |
| Spreads | 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. | Spreads start from 0.6 pips on XM Ultra Low accounts. 99.35% of orders executed in under 1 second with no requotes or order rejections. |
| Fees | 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. | XM Ultra Low Account: Spread-only pricing from 0.6 pips with zero commissions. Standard & Micro Accounts: Spreads start from 1.0 pips with no commission. Shares Account: Commission-based equity trading. |
| Platforms | 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). | MetaTrader 4 (MT4), MetaTrader 5 (MT5), XM App |
| Account types | 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. | Micro, Standard, XM Ultra Low, Shares Account, Swap-Free (Islamic), Demo |
| Min deposit | $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). | $5 |