Saxo Bank vs XM
Side-by-side comparison of regulation, trading costs, platforms, and account types for Saxo Bank and XM.
Saxo BankTrust 9.4/10
DFSA
FCA
ASIC
MAS
Danish investment bank, premium broker for serious traders. SaxoTraderGO and SaxoTraderPRO platforms. Access to 70,000+ instruments across forex, stocks, bonds, options.
XMTrust 8.4/10
ASIC
CySEC
DFSA
FSCA
Long-established multi-asset broker with a $5 minimum deposit and four-jurisdiction regulation including ASIC and DFSA. Strong educational resources and a copy-trading marketplace make it a popular pick for newer traders.
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 | Saxo Bank | XM |
|---|---|---|
| Trust score | 9.4 | 8.4 |
| Regulators | DFSA, FCA, ASIC, MAS, JFSA, FINMA | ASIC, CySEC, DFSA, FSCA, FSC-Belize |
| Headquarters | — | Cyprus |
| Founded | — | 2009 |
| Min deposit | $0.00 | $5 |
| Max leverage | 1:200 | 1:1000 |
| EUR/USD spread | 0.40 pips | 0.70 pips |
| Commission per lot | $0.00 | $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, Skrill, Neteller |
| Withdrawal methods | — | Bank Wire, Credit/Debit Card, Skrill, Neteller |
| Withdrawal speed | — | 24h |
| Base currencies | — | USD, EUR, GBP, AUD, JPY, SGD |
Saxo Bank is best for
Sophisticated traders
Multi-asset investors
High-net-worth clients
XM is best for
Beginners
Day traders
Copy traders