questrade
Saxo Markets
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Overview
questrade was founded in 2019 and is headquartered in New Zealand, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. questrade serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $250 at questrade and $6500 at Saxo Markets.
| Feature | questrade | 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-F298 | Financial Conduct Authority (FCA) |
| Founded | 2019 | 2012 |
| Country | New Zealand | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between questrade and Saxo Markets, directly affecting your bottom line as a trader. questrade has a lower barrier to entry with a minimum deposit of $250 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while questrade does not, giving questrade an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; questrade does not. Overall, questrade scores higher on fees in our assessment.
| Feature | questrade | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
questrade 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 | questrade | 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 questrade and Saxo Markets compare. questrade runs regular live webinars; Saxo Markets does not. Both provide video tutorials. questrade publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. questrade maintains an archive of past webinars for on-demand viewing. questrade scores higher overall in education and research.
| Feature | questrade | 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. questrade 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). questrade uniquely supports PayPal and Skrill and Neteller among the two brokers. questrade scores higher on deposit and withdrawal flexibility.
| Feature | questrade | 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 questrade and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. questrade supports 8 languages and Saxo Markets supports 2, giving questrade broader global reach. Both brokers are comparable on support quality.
| Feature | questrade | 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 |