Saxo Markets
XM
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Overview
Saxo Markets was founded in 2012 and is headquartered in Denmark, while XM was established in 2009 and is based in Cyprus. Saxo Markets holds licences including Financial Conduct Authority (FCA), while XM is regulated by International Financial Services Commission(IFSC) among others. Saxo Markets serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $6500 at Saxo Markets and $5 at XM.
| Feature | Saxo Markets | XM |
|---|---|---|
| Min. Deposit | $6500 | $5 |
| Regulation | Financial Conduct Authority (FCA) | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2012 | 2009 |
| Country | Denmark | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Saxo Markets and XM, directly affecting your bottom line as a trader. XM has a lower barrier to entry with a minimum deposit of $5 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, XM scores higher on fees in our assessment.
| Feature | Saxo Markets | XM |
|---|---|---|
| Min. Deposit | $6500 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Saxo Markets offers MT4, MT5, cTrader, while XM 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 | XM |
|---|---|---|
| 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, MT5, 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 Saxo Markets and XM compare. XM runs regular live webinars; Saxo Markets does not. Both provide video tutorials. XM publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | Saxo Markets | XM |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | No |
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 XM supports 3 (bank transfer, credit/debit card, Neteller). XM uniquely supports Neteller among the two brokers. XM scores higher on deposit and withdrawal flexibility.
| Feature | Saxo Markets | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| 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 XM offer live chat support. Both provide phone support. Email support is available at both brokers. Saxo Markets supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Saxo Markets | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |