fx open
Saxo Markets
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. fx open serves 60,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $250 at fx open and $6500 at Saxo Markets.
| Feature | fx open | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Regulation | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F238 | Financial Conduct Authority (FCA) |
| Founded | 2019 | 2012 |
| Country | Puerto Rico | Denmark |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx open and Saxo Markets, directly affecting your bottom line as a trader. fx open has a lower barrier to entry with a minimum deposit of $250 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while fx open does not, giving fx open an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; fx open does not. Overall, fx open scores higher on fees in our assessment.
| Feature | fx open | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fx open 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 fx open does not offer. The two brokers are closely matched on platform offering.
| Feature | fx open | 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, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | 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 fx open and Saxo Markets compare. fx open runs regular live webinars; Saxo Markets does not. Both provide video tutorials. fx open publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | fx open | Saxo Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fx open accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Saxo Markets supports 2 (bank transfer, credit/debit card). fx open uniquely supports PayPal and Skrill and Neteller among the two brokers. fx open scores higher on deposit and withdrawal flexibility.
| Feature | fx open | Saxo Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fx open and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. fx open supports 8 languages and Saxo Markets supports 2, giving fx open broader global reach. Both brokers are comparable on support quality.
| Feature | fx open | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, and Chinese |