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Compare Forex Brokers Oanda And Saxo Bank


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Subjective Ratings

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Oanda

Saxo Bank

Charting: Two star Charting Rating Five star Charting Rating
Execution: Four star Execution Rating Four and Half star Execution Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating Four star Transaction Costs (spreads) Rating
User-friendliness: Three and Half star User-friendliness Rating Five star User-friendliness Rating
Platform Functionality: Four star Platform Functionality Rating Five star Platform Functionality Rating
Platform Reliability: Three star Platform Reliability Rating Five star Platform Reliability Rating
Customer support: Three star Customer Support Rating Five star Customer Support Rating
Rollover interest rates: Five star Rollover interest rates Rating Four star Rollover interest rates Rating
Withdrawal processing: Four and Half star Withdrawal processing Rating Three and Half star Withdrawal processing Rating
Average rating: Three and Half star Average Rating Four and Half star Average Rating

Visit Oanda Visit Saxo Bank

Business Details

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Oanda

Saxo Bank

 
Registered Business Name: Oanda Corporation Saxo Bank
Broker Headquarters: Toronto, Canada Copenhagen, Denmark
Also has offices in: Virtual offices in New York and Hong Kong London, Singapore, Tokyo
Regulated By: NFA (0325821)
FCM registered with CFTC
Saxo Bank is a fully regulated bank in Denmark.
In business since year: 2002 1992
Broker Capital as of 11-2008 $170,799,434 Unknown
Client Account Segregation: No No
Collect Taxes on Earnings: No No
Prohibit clients from: Yes Yes
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Check (US clients) $0 $0
PayPal $0 $0
Wire Transfer $0 $0
MethodDeposit FeeWithdrawal Fee
Credit Card 1.8% - 2.5% 1.8% - 2.5%
Debit Card $0 $0
Wire Transfer Bank Fees Bank Fees
Main liquidity providers: P Morgan Chase, Citibank, UBS, Deutsche Bank and Royal Bank of Canada Top tier-1 banks

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Trading Details

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Oanda

Saxo Bank

 
Browser platform: FXTrade (proprietary) - MAC compatible Saxo WebTrader
Downloadable platform: No Saxo Trader
Mobile platform: FXTrade (proprietary) - MAC compatible Saxo WebTrader
Phone dealing: No Yes
Order processing: Market Maker Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Standard Account 50:1* No mininum or maximum requirem 1/10,000,000
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Saxo Premium 200:1* $100,000/unlimited 1,000/unlimited
Saxo 200:1* $10,000/unlimited 1,000/unlimited
Swap-free accounts   No swap-free accounts available   No swap-free accounts available
Tradeable Instruments: 39    8   
No Dealing Desk Execution: Yes Not available
Typical spread on EUR/USD: 0.9 pips (0.00009) 2 pips (0.0002)
Fixed spreads: No No
Guaranteed stop losses? No All orders are executed at best available price.
Trailing Stops: Server-side Server-side
OCO orders available: Yes Yes
If/then orders available: Yes Yes
Hedging capability: No Yes - used margin is cleverly cancelled on hedged positions
Automated Trading: No No
Trading Hours:    
Timezone User-defined  
Scalping allowed: Yes Yes
Account currencies available: USD AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, SGD, USD
Platform languages: Chinese, English, German, Japanese, Spanish English
Support languages: English English
Demo account: Unlimited 20 days
Live chat support: Yes Available to real account holders.
Interest on Margin: Yes No, On Net Free Equity
Promotions & tournaments: None None

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