FXNet
Saxo Markets
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Overview
FXNet was founded in 2012 and is headquartered in Cyprus, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. FXNet serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $50 at FXNet and $6500 at Saxo Markets.
| Feature | FXNet | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) |
| Founded | 2012 | 2012 |
| Country | Cyprus | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXNet and Saxo Markets, directly affecting your bottom line as a trader. FXNet has a lower barrier to entry with a minimum deposit of $50 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while FXNet does not, giving FXNet an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; FXNet does not. Overall, FXNet scores higher on fees in our assessment.
| Feature | FXNet | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXNet 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 | FXNet | 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, Web Trader, 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 FXNet and Saxo Markets compare. FXNet runs regular live webinars; Saxo Markets does not. Both provide video tutorials. FXNet publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. FXNet maintains an archive of past webinars for on-demand viewing. FXNet scores higher overall in education and research.
| Feature | FXNet | 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. FXNet 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 | FXNet | 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 FXNet 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 | FXNet | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |