FXCM
Saxo Markets
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Overview
FXCM was founded in 1999 and is headquartered in United States, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. FXCM serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $1 at FXCM and $6500 at Saxo Markets.
| Feature | FXCM | Saxo Markets |
|---|---|---|
| Min. Deposit | $1 | $6500 |
| Regulation | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA) |
| Founded | 1999 | 2012 |
| Country | United States | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXCM and Saxo Markets, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while FXCM does not, giving FXCM an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; FXCM does not. Overall, FXCM scores higher on fees in our assessment.
| Feature | FXCM | Saxo Markets |
|---|---|---|
| Min. Deposit | $1 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXCM 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 FXCM does not offer. The two brokers are closely matched on platform offering.
| Feature | FXCM | 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, Mirror Trader, Web Trader, NinjaTrader, 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 FXCM and Saxo Markets compare. FXCM runs regular live webinars; Saxo Markets does not. Both provide video tutorials. FXCM publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. FXCM maintains an archive of past webinars for on-demand viewing. FXCM scores higher overall in education and research.
| Feature | FXCM | 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. FXCM 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 | FXCM | 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 FXCM 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 | FXCM | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |