Exness vs SaxoBank Comparison & Reviews

Feature
Exness
Saxo Bank
Founded
2008
1992
Regulation
FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles)
FCA (UK), FINMA (Switzerland), ASIC (Australia), MAS (Singapore), JFSA (Japan)
Headquarters
Cyprus, Seychelles
Denmark
Minimum Deposit
$1 for Standard accounts, higher for certain account types
Typically $500 for Classic account, $10,000 for Platinum, $200,000 for VIP
Account Types
Standard, Pro, Zero, Raw Spread
Classic, Platinum, VIP
Trading Platforms
MetaTrader 4, MetaTrader 5, Exness Terminal
SaxoTraderGO, SaxoTraderPRO
Available Markets
Forex, Metals, Cryptocurrencies, Energies, Stocks, Indices, Commodities
Forex, Stocks, ETFs, Bonds, Options, CFDs, Futures, Cryptocurrencies, Commodities, Indices
Spread Type
Floating spreads, Zero and Raw Spread accounts offer near-zero spreads
Floating and fixed spreads, with competitive spreads for high-volume accounts
Typical Spreads
From 0.3 pips on Standard accounts, from 0 pips on Zero accounts
0.4 pips for major Forex pairs (for Platinum accounts), lower spreads for VIP accounts
Commission Fees
No commission on Standard accounts, commissions on Raw Spread and Zero accounts
Commissions on CFDs and options, variable fees based on account type
Leverage
Up to 1:2000 (varies by account type and asset)
Up to 1:100 (varies by jurisdiction and asset)
Education Resources
Video tutorials, webinars, trading guides
Extensive research tools, market analysis, webinars, trading insights
Research Tools
Basic market news, economic calendar, trading signals
Comprehensive analysis, advanced charting tools, market research reports
Deposit/Withdrawal Methods
Bank transfer, credit/debit card, Skrill, Neteller, WebMoney, cryptocurrency
Bank transfer, credit/debit card, PayPal, Skrill, Neteller
Deposit/Withdrawal Fees
No deposit or withdrawal fees for most methods
No deposit fees, withdrawal fees vary by method and jurisdiction
Customer Support
24/7 support via live chat, email, phone
Support available via phone, email, live chat (varies by country)
Languages Supported
15+ languages including English, Arabic, Chinese, Spanish
30+ languages including English, Chinese, Japanese, French, German
Demo Account
Yes, free demo account
Yes, free demo account
Social Trading
Yes, via Exness Social Trading app
No dedicated social trading platform
Copy Trading
Yes
No
Islamic Account
Yes, available
Yes, available
Negative Balance Protection
Yes
Yes, but varies by region
Overall Suitability
Suited for beginner and experienced traders, high leverage for smaller account sizes
Best suited for professional and institutional traders, advanced tools for experienced users
Order Execution Speed
Fast execution with less than 0.01-second latency for most accounts
Slightly longer execution time due to more advanced systems, suitable for institutional-grade execution
Asset Coverage in Forex
Over 100 currency pairs
Around 182 currency pairs, including exotic options
CFD Availability
Available on Forex, indices, commodities, metals, cryptocurrencies
Wide selection across multiple asset classes including Forex, commodities, stocks, ETFs, and indices
Trading Hours
24/5 for Forex, specific hours for commodities and other instruments
24/5 for Forex, extended hours for global markets covering Asia, Europe, and the U.S.
Platform Customization
Basic customization on MetaTrader 4 and 5
Advanced customization available on SaxoTraderGO and SaxoTraderPRO
Trading Algorithms
Supports algorithmic trading via MT4/MT5
Extensive algorithmic trading with API and FIX API for professionals
Order Types
Market, Limit, Stop, Trailing Stop, OCO
Market, Limit, Stop, Trailing Stop, OCO, Conditional Orders
Hedging and Scalping
Both are allowed
Both are allowed
Trading Signals
Integrated trading signals on MT4/MT5
Advanced research and signal tools provided via TradingFloor.com
Charting Tools
Basic to intermediate level, integrated within MT4/MT5
Advanced tools with multiple indicators, drawing tools, and chart types
Mobile Trading App
Exness Trader, MetaTrader 4, MetaTrader 5
SaxoTraderGO mobile app
Account Currencies Supported
Over 80 different account currencies
Around 20 account currencies including USD, EUR, GBP, SGD, and more
VIP Services
None
Dedicated VIP account services, including priority support and lower fees
Deposit Processing Time
Instant with most e-wallets, 24-48 hours for bank transfers
1-5 business days, depending on the bank
Withdrawal Processing Time
Instant to a few hours for most methods, up to 24 hours for bank transfers
1-5 business days depending on the withdrawal method
Fees Transparency
Transparent with minimal fees on common accounts, some fees on specific accounts
Detailed fee structure with discounts for higher-tier accounts (Platinum, VIP)
API Access
Limited API capabilities for algorithmic traders via MT5
Extensive API access, including OpenAPI and FIX API for high-frequency trading
Market Data Fees
Free for most instruments
Free for most instruments, additional charges for premium data feeds
Security of Funds
Segregated client funds, additional protection through multiple regulatory bodies
Segregated client funds, extensive insurance coverage for funds held
Affiliate Program
Yes, with competitive revenue-sharing models
Yes, primarily aimed at institutional affiliates
Promotions/Bonuses
Occasional promotions and bonuses based on jurisdiction
Rarely offers promotions, focus on professional services
Advanced Risk Management
Risk control through stop-loss, take-profit orders, trailing stops
Advanced risk management tools including guaranteed stops, margin alerts
Personalized Support
Available for Pro account users
Dedicated relationship manager for Platinum and VIP clients
Community/Forum
Limited community interaction
Active community and knowledge sharing on TradingFloor
Industry Awards
Recognized for low spreads and customer support
Multiple awards for trading platform innovation and service quality
User Interface
User-friendly, simple design, MT4/MT5 offer a familiar interface
Highly customizable, designed for professional use
Trading Bot Compatibility
Supported on MetaTrader 4 and 5, with compatibility for Expert Advisors (EAs)
Fully supported with OpenAPI, compatible with third-party trading bots and custom scripts
Market Depth
Basic market depth available for certain instruments
Full market depth available on SaxoTraderPRO, suitable for high-frequency traders
Pricing Model
Primarily spread-based with commissions on specific accounts
Spread-based and commission-based, lower spreads for higher-tier accounts
Investment Solutions
Limited to Forex and CFDs, no long-term investment products
Comprehensive offerings including managed portfolios, funds, bonds
Interest on Margin Accounts
Minimal interest charges on margin, depending on account and leverage
Competitive interest on margin, lower rates for Platinum and VIP accounts
Professional Accounts
Options available but mainly geared toward retail and semi-professional traders
Tailored services and higher leverage for professional and institutional traders
Retirement/Wealth Management
Not available
Yes, through SaxoSelect managed portfolios and wealth management services
Real-Time Market Data
Basic real-time data included
Full real-time data with premium packages available for advanced market analysis
Direct Market Access (DMA)
Limited to certain accounts
Full DMA available, especially on SaxoTraderPRO
Fractional Shares
Not available
Available, allowing traders to invest in fractions of high-priced stocks
Technical Analysis Tools
Basic charting indicators on MT4/MT5
Advanced technical analysis with multiple chart types, custom indicators
Social Media Integration
No direct integration
Integrated with TradingFloor.com, providing social insights and trends
Tax Documentation
Basic tax reporting features
Comprehensive tax reporting and portfolio summary for easy tax filing
Environmental, Social, and Governance (ESG) Investing
Not available
ESG-focused investments available through selected ETFs and portfolios
Options Trading
Not supported
Available for various assets, including stocks, indices, and commodities
Staking/Crypto Yield Options
Not available
Not supported; focuses on traditional asset classes
Screener Tools
Limited screening tools
Advanced screening tools with customizable filters for various asset classes
Portfolio Analysis
Limited portfolio tracking
In-depth portfolio analysis tools for active and long-term investment tracking
Historical Data Access
Basic historical data available
Extensive historical data across multiple assets for backtesting and analysis
Real-Time Alerts
Customizable price and news alerts via MT4/MT5
Advanced alert system with price, market news, and order triggers
Banking Services Integration
None, e-wallet and crypto withdrawal options
Integrated banking services, including margin loans and interest-bearing accounts
Dividend/Income Distribution
Not applicable for most CFDs and leveraged assets
Available on stocks and ETFs, with regular income distribution for income-focused traders
Leverage Customization
Allows leverage adjustments based on regulatory limits
Customizable leverage on request, within jurisdictional limits
Cross-Platform Compatibility
Available via MT4/MT5 across PC, mobile, and web
Cross-platform compatibility on SaxoTraderGO, SaxoTraderPRO, and web/mobile
Industry Recognition
Recognized for customer satisfaction and trading conditions
Widely acclaimed for innovative technology and service quality
White Label/Institutional Offerings
Not available for white labeling
Extensive white label solutions for banks and institutional clients
Negative Interest Rates on Cash Balances
None
Yes, applies on cash balances in certain currencies due to global negative interest rates
Account Funding Flexibility
Multiple e-wallet and crypto deposit options
Primarily bank transfers and cards, limited e-wallet options
Mobile App Analytics
Basic real-time analytics on mobile
Comprehensive analytics and charting tools on SaxoTraderGO mobile app
News Feed Providers
Dow Jones, Trading Central
Reuters, Bloomberg, Dow Jones, premium market news sources
User Reviews and Satisfaction
Highly rated for customer service and support
Highly rated for professional features and educational resources
Trading Community Engagement
Limited community engagement
Active community engagement through webinars, TradingFloor, and live events
Market Sentiment Tools
Sentiment indicators available on MT4/MT5
Advanced sentiment analysis integrated with SaxoTraderGO
Account Security Features
2FA, SSL encryption, regular audits
2FA, biometric login for mobile, SSL encryption, advanced cyber-security protocols
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Exness is tailored for retail and semi-pro traders, focusing on accessibility and high leverage, while Saxo Bank caters to professionals with advanced tools, broader asset classes, and institutional-grade features.