fxcl markets
Saxo Markets
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Overview
fxcl markets was founded in 2006 and is headquartered in Cayman Islands, while Saxo Markets was established in 2012 and is based in Denmark. fxcl markets holds licences including Financial Services Authority (FSA) number 1637, while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. fxcl markets serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $250 at fxcl markets and $6500 at Saxo Markets.
| Feature | fxcl markets | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Regulation | Financial Services Authority (FSA) number 1637 | Financial Conduct Authority (FCA) |
| Founded | 2006 | 2012 |
| Country | Cayman Islands | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fxcl markets and Saxo Markets, directly affecting your bottom line as a trader. fxcl markets has a lower barrier to entry with a minimum deposit of $250 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while fxcl markets does not, giving fxcl markets an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; fxcl markets does not. Overall, fxcl markets scores higher on fees in our assessment.
| Feature | fxcl markets | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fxcl markets offers MT4, MT5, cTrader, 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. The two brokers are closely matched on platform offering.
| Feature | fxcl markets | 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 fxcl markets and Saxo Markets compare. fxcl markets runs regular live webinars; Saxo Markets does not. Both provide video tutorials. fxcl markets publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. fxcl markets maintains an archive of past webinars for on-demand viewing. fxcl markets scores higher overall in education and research.
| Feature | fxcl markets | 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. fxcl markets 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). fxcl markets uniquely supports PayPal and Skrill and Neteller among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | fxcl markets | 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 fxcl markets and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. fxcl markets supports 8 languages and Saxo Markets supports 2, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | fxcl markets | 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 |