Saxo Markets
scotia itrade
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Saxo Markets was founded in 2012 and is headquartered in Denmark, while scotia itrade was established in 2012 and is based in UK. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. Saxo Markets serves 10,000+ clients worldwide; scotia itrade has 10,000+. The minimum deposit is $6500 at Saxo Markets and $250 at scotia itrade.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| Min. Deposit | $6500 | $250 |
| Regulation | Financial Conduct Authority (FCA) | 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-F303 |
| Founded | 2012 | 2012 |
| Country | Denmark | UK |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Saxo Markets and scotia itrade, directly affecting your bottom line as a trader. scotia itrade has a lower barrier to entry with a minimum deposit of $250 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while scotia itrade does not, a notable advantage for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; scotia itrade does not. Overall, scotia itrade scores higher on fees in our assessment.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| Min. Deposit | $6500 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Saxo Markets offers MT4, MT5, cTrader, while scotia itrade supports 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. Saxo Markets edges ahead on platform breadth and functionality in our scoring.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Saxo Markets and scotia itrade compare. scotia itrade runs regular live webinars; Saxo Markets does not. Both provide video tutorials. scotia itrade publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. scotia itrade maintains an archive of past webinars for on-demand viewing. scotia itrade scores higher overall in education and research.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Saxo Markets accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while scotia itrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). scotia itrade uniquely supports PayPal and Skrill and Neteller among the two brokers. scotia itrade scores higher on deposit and withdrawal flexibility.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Saxo Markets and scotia itrade offer live chat support. Both provide phone support. Email support is available at both brokers. Saxo Markets supports 2 languages and scotia itrade supports 8, giving scotia itrade broader global reach. Both brokers are comparable on support quality.
| Feature | Saxo Markets | scotia itrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |