Saxo Markets
Velocity Trade
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Overview
Saxo Markets was founded in 2012 and is headquartered in Denmark, while Velocity Trade was established in 2007 and is based in Australia. Saxo Markets holds licences including Financial Conduct Authority (FCA), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. Saxo Markets serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $6500 at Saxo Markets and $1 at Velocity Trade.
| Feature | Saxo Markets | Velocity Trade |
|---|---|---|
| Min. Deposit | $6500 | $1 |
| Regulation | Financial Conduct Authority (FCA) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2012 | 2007 |
| Country | Denmark | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Saxo Markets and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while Velocity Trade does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | Saxo Markets | Velocity Trade |
|---|---|---|
| Min. Deposit | $6500 | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Saxo Markets offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. Saxo Markets supports social and copy trading features, which Velocity Trade does not offer. Saxo Markets edges ahead on platform breadth and functionality in our scoring.
| Feature | Saxo Markets | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Mac, Web Trader, Tablet & Mobile apps | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Saxo Markets and Velocity Trade compare. Velocity Trade runs regular live webinars; Saxo Markets does not. Both provide video tutorials. Velocity Trade publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. Velocity Trade maintains an archive of past webinars for on-demand viewing. Velocity Trade scores higher overall in education and research.
| Feature | Saxo Markets | Velocity Trade |
|---|---|---|
| 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 Velocity Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Saxo Markets | Velocity Trade |
|---|---|---|
| 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 Velocity Trade 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 | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |