Saxo Markets
TopForex
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Overview
Saxo Markets was founded in 2012 and is headquartered in Denmark, while TopForex was established in 2009 and is based in Cyprus. Saxo Markets holds licences including Financial Conduct Authority (FCA), while TopForex is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Saxo Markets serves 10,000+ clients worldwide; TopForex has 10,000+. The minimum deposit is $6500 at Saxo Markets and $100 at TopForex.
| Feature | Saxo Markets | TopForex |
|---|---|---|
| Min. Deposit | $6500 | $100 |
| Regulation | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2012 | 2009 |
| Country | Denmark | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Saxo Markets and TopForex, directly affecting your bottom line as a trader. TopForex has a lower barrier to entry with a minimum deposit of $100 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Saxo Markets applies inactivity fees on dormant accounts; TopForex does not. Overall, TopForex scores higher on fees in our assessment.
| Feature | Saxo Markets | TopForex |
|---|---|---|
| Min. Deposit | $6500 | $100 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Saxo Markets offers MT4, MT5, cTrader, while TopForex 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 | Saxo Markets | TopForex |
|---|---|---|
| MT4 | Yes | Yes |
| 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, Web Trader, 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 TopForex compare. TopForex runs regular live webinars; Saxo Markets does not. Both provide video tutorials. TopForex publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. TopForex maintains an archive of past webinars for on-demand viewing. TopForex scores higher overall in education and research.
| Feature | Saxo Markets | TopForex |
|---|---|---|
| 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 TopForex supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Saxo Markets | TopForex |
|---|---|---|
| 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 Saxo Markets and TopForex 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 | Saxo Markets | TopForex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |