Binance
Saxo Markets
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Overview
Binance was founded in 2017 and is headquartered in Japan, while Saxo Markets was established in 2012 and is based in Denmark. Binance holds licences including Unregulated, while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. Binance serves 13500000 clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $100 at Binance and $6500 at Saxo Markets.
| Feature | Binance | Saxo Markets |
|---|---|---|
| Min. Deposit | $100 | $6500 |
| Regulation | Unregulated | Financial Conduct Authority (FCA) |
| Founded | 2017 | 2012 |
| Country | Japan | Denmark |
| Clients | 13500000 | 10,000+ |
Fees
Fees are a critical factor when choosing between Binance and Saxo Markets, directly affecting your bottom line as a trader. Binance has a lower barrier to entry with a minimum deposit of $100 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Saxo Markets applies inactivity fees on dormant accounts; Binance does not. Binance charges deposit fees; Saxo Markets does not. Overall, Binance scores higher on fees in our assessment.
| Feature | Binance | Saxo Markets |
|---|---|---|
| Min. Deposit | $100 | $6500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Binance edges ahead on platform breadth and functionality in our scoring.
| Feature | Binance | Saxo Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop, Android, iPhone/iPad, Mac | Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binance and Saxo Markets compare. Binance runs regular live webinars; Saxo Markets does not. Both provide video tutorials. Binance publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. Binance maintains an archive of past webinars for on-demand viewing. Binance scores higher overall in education and research.
| Feature | Binance | Saxo Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binance accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Saxo Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Binance | Saxo Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binance and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Binance | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |