FXFlat vs Saxo Bank
Side-by-side comparison of regulation, trading costs, platforms, and account types for FXFlat and Saxo Bank.
German BaFin-licensed broker founded in 1997 — one of the oldest fully-domestic Germany-regulated forex brokers still operating. Niche EU-only player with broad platform support including AgenaTrader and Interactive Brokers' TWS.
Established Danish investment bank offering one of the broadest product ranges in retail trading: forex, CFDs, stocks, ETFs, bonds, futures, and options across 50+ markets. Multi-regulated under FINMA, FCA, ASIC, MAS, JFSA. Premium platform (SaxoTraderGO/PRO) suits experienced and institutional traders. Important note: 2025 was a difficult regulatory year for Saxo - Danish FSA imposed an approximately USD 46M AML fine in January 2025 (white-label oversight 2021-2023), AMF France issued EUR 300,000 fine in July 2025, and Hong Kong SFC issued a USD 4M fine. In February 2025, Saxo agreed to sell 80.1% of Saxo Australia to DMA (Johannesburg fintech) - existing AU clients should verify their current entity. Saxo Bank itself remains operating across its other regulated entities.
Quick verdict
- Trust: Saxo Bank has the higher trust score.
- EUR/USD spread: Saxo Bank is tighter on EUR/USD.
Side-by-side comparison
| Feature | FXFlat | Saxo Bank |
|---|---|---|
| Trust score | 8.7 | 9.4 |
| Regulators | BaFin | DFSA, FCA, ASIC, MAS, JFSA, FINMA |
| Headquarters | Ratingen, Germany | — |
| Founded | 1997 | — |
| Min deposit | $200 | $0.00 |
| Max leverage | 1:30 | 1:200 |
| EUR/USD spread | 0.80 pips | 0.40 pips |
| Commission per lot | $5 | $0.00 |
| Raw spread account | ||
| Standard account | ||
| Swap-free account | ||
| cTrader | ||
| MT4 | ||
| MT5 | ||
| TradingView | ||
| Scalping allowed | ||
| EAs / algo allowed | ||
| Hedging allowed | ||
| Copy trading | ||
| Deposit methods | Bank Wire, Credit/Debit Card, PayPal | — |
| Withdrawal methods | Bank Wire | — |
| Withdrawal speed | 48h | — |
| Base currencies | USD, EUR, GBP, CHF | — |