Finmax
Saxo Markets
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while Saxo Markets was established in 2012 and is based in Denmark. Finmax holds licences including Financial Services Authority (FSA), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $0 at Finmax and $6500 at Saxo Markets.
| Feature | Finmax | Saxo Markets |
|---|---|---|
| Min. Deposit | $0 | $6500 |
| Regulation | Financial Services Authority (FSA) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 2012 |
| Country | Bulgaria | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and Saxo Markets, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while Finmax does not, giving Finmax an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | Saxo Markets |
|---|---|---|
| Min. Deposit | $0 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Saxo Markets supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | 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 | MT4,MT5 | 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 Finmax and Saxo Markets compare. Saxo Markets has a video library; Finmax does not. Saxo Markets integrates third-party research tools (Autochartist); Finmax does not. Saxo Markets scores higher overall in education and research.
| Feature | Finmax | Saxo Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Finmax 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 | Finmax | 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 Finmax 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 | Finmax | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |