Comparison of OANDA and Saxo
| Feature | OANDA | Saxo |
|---|---|---|
| Broker | ||
| Year Founded | 2001 | 1992 |
| Broker Type | STP | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF | Danish FSA, FCA, MAS, FINMA |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade | SaxoTraderGO, SaxoTraderPRO, TradingView |
| Spread | ⬊ Low | ⮕ Average |
| Maximum Leverage | 1:200 | 1:30 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, AUD, CHF, SGD, HKD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill | Bank Wire, Credit Card, Debit Card |
| Inactivity Fee | $10 per month after 12 months | ✖ |
| Interest on Margin | ✖ | ✔ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS) | Danish Guarantee Fund, UK FSCS |
| Protection Size | £85 000 | DKK 100 000 / £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✔ | ✖ |
| Copy Trading | ✖ | ✖ |
| VPS | ✔ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies |
| Review | OANDA Review | Saxo Review |
About OANDA
OANDA is a globally recognized forex broker with a solid reputation for providing robust trading platforms and tools tailored to both beginner and professional traders. Established in 2001, OANDA has consistently positioned itself as a trusted broker, offering a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. The broker is known for its user-friendly interface, competitive spreads, and advanced analytical tools, making it a popular choice among traders seeking reliable market access. OANDA is regulated by top-tier authorities like the CFTC, FCA, and ASIC, ensuring a high level of trust and transparency in its operations.
Pros
- Regulated by top-tier authorities (CFTC, FCA, ASIC)
- Competitive spreads and reliable pricing
- Access to both MetaTrader 4 (MT4) and a proprietary platform
- User-friendly trading interface suitable for beginners
- Comprehensive educational resources and market analysis tools
- A wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- No minimum deposit requirement for most accounts
- Strong focus on transparency and customer support
Cons
- Limited account types compared to some competitors
- Some advanced tools may require additional subscriptions
About Saxo
Saxo is a Danish multi-asset broker and fully licensed bank offering Direct Market Access across more than 190 FX pairs, 19 000+ equities and thousands of other instruments. Regulated by the Danish FSA, FCA, MAS and FINMA, Saxo provides the award-winning SaxoTraderGO/PRO platforms plus TradingView connectivity. Its Classic account has no minimum deposit, floating FX spreads from 0.9 pips and leverage up to 1:30, while Platinum and VIP tiers unlock tighter pricing and premium service. Traders benefit from segregated client funds, negative-balance protection in the EU, rich analytics and extensive education.
Pros
- Bank-grade regulation (DK FSA, FCA, MAS, FINMA)
- No-minimum Classic account; tight DMA pricing
- 190+ FX pairs and 40 000+ instruments overall
- SaxoTraderGO/PRO plus TradingView integration
- Tiered positive-balance interest on cash
- Extensive research, webinars and market tools
Cons
- High deposits (USD 200k / 1 M) for better Platinum / VIP pricing
- No MetaTrader support
- Islamic swap-free accounts not available
OANDA & Saxo Regulation
| Feature | OANDA | Saxo |
|---|---|---|
Companies | OANDA Corporation, OANDA Australia Pty Ltd, OANDA (Canada) Corporation ULC, OANDA Europe Limited, OANDA Japan Co., Ltd, OANDA Global Markets Ltd, OANDA Asia Pacific Pte Ltd, OANDA TMS Brokers S.A. | Saxo Bank A/S |
Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France |
Regulators | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF | Danish FSA, FCA, MAS, FINMA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS) | Danish Guarantee Fund, UK FSCS |
Investor Protection Size | £85 000 | DKK 100 000 / £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | OANDA | Saxo |
|---|---|---|
STP Account | ||
| Account Name | Standard | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0.5 | — |
| Fee | No | — |
| Max Leverage | 1:200 | — |
| Stop Out | 50% | — |
| Margin Call | 100% | — |
DMA Account | ||
| Account Name | — | Classic |
| Min Deposit | — | $1 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0.9 |
| Fee | — | No |
| Max Leverage | — | 1:30 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | OANDA | Saxo |
|---|---|---|
Base currencies | USD, EUR, AUD, CHF, SGD, HKD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill | Bank Wire, Credit Card, Debit Card |
Inactivity fee | $10 per month after 12 months | |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | OANDA | Saxo |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade | SaxoTraderGO, SaxoTraderPRO, TradingView |
Execution Speed | 12 ms | 9 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | average |
Trading Assets
| Asset | OANDA | Saxo |
|---|---|---|
Currencies | 48 | 190 |
Indices | 18 | 29 |
Stocks | 1607 | 19000 |
Cryptocurrencies | 18 | 20 |
Bonds | 0 | 5000 |
Metals | 3 | 4 |
Energies | 3 | 5 |
Soft Commodities | 4 | 8 |
ETFs | 0 | 3000 |
Education and Analytics
| Feature | OANDA | Saxo |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | OANDA | Saxo |
|---|---|---|
Email | frontdesk@oanda.com | salesCEE@saxobank.com |
Phone | +442031512050 | +4539774113 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | — |
Instagram | — | |
Twitter |
Which Broker is Better?
After comparing OANDA and Saxo, OANDA comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.