Saxo vs FXCC

Saxo or FXCC – which is better for UK traders 2024? Compare Saxo and FXCC in this detailed breakdown of their platforms, features and fees.

Saxo vs FXCC Comparison Table 2024
Saxo FXCC
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4
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4.5
Saxo is ranked #76 among CFD brokers. FXCC is ranked #4 among CFD brokers.
Review
Review
Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC. FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
66% of retail accounts lose money.
Pros
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
  • Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
  • As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
  • The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
  • There are no deposit fees except industry-standard mining charges on cryptos, which is advantageous for active traders
  • FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
  • There are no restrictions on short-term trading strategies like trading and scalping
Cons
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
  • Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
  • There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
Awards
  • Best STP Broker 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) 2019 - World Finance Magazine Awards
  • Best Trading Account (XL Account) Europe 2018 - Global Banking & Finance Awards
  • Best STP Broker Europe 2018 - Global Banking & Finance Awards
  • Best Trading Account (XL Account) 2018 - JFEX Awards
  • Best MT4 Broker 2018 - JFEX Awards
  • Best Islamic Forex Broker (XL Account) 2018 - MENA Forex Show Awards
  • Best STP/ECN Forex Broker 2018 - MENA Forex Show Awards
  • Best Forex Trading Account 2017 - UK Forex Awards
FCA Regulated
Yes No

List of FCA Regulated Brokers

Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs CFDs, Forex, Indices, Commodities, Crypto
Demo Account
Yes Yes
Minimum Deposit
£500 $0
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC, FINMA, AMF, CONSOB CySEC
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) iOS & Android
Trading App

FXCC elevates mobile trading with the MT4 app on iPhone, iPad, and Android, perfect for traders with its reliable, advanced charting featuring 30 indicators, 9 timeframes and 3 chart types. It’s incredibly easy to dive into trading on the MT4 app through an FXCC account, with just 3 simple steps. The app offers the flexibility to trade a great selection of over 70 currency pairs and other popular markets on the go.
iOS App Rating
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4.8
Android App Rating
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4.4
Margin Trading
No Yes
MetaTrader 4
No Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No Yes
ECN Account
Yes Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
  • USD
  • EUR
  • GBP
Commodities
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
  • Gold
  • Silver
  • Precious Metals
  • Platinum
  • Palladium
  • Oil
CFD
Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals. FXCC offers a narrow range of CFDs beyond forex with a limited selection of metals, energies, indices and cryptos. However, it stands out with its high leverage up to 1:500, which will serve experienced traders looking to maximize their buying power while speculating on rising and falling prices.
Leverage
1:30 1:500
FTSE Spread
1.2 pts (Variable) Variable
GBPUSD Spread<
0.7 (var) 1.0
Oil Spread
0.03 0.03
Stocks Spread
0.10% (subject to min commission) NA
Forex
Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips. FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.
Assets
40+ 70+
GBPUSD Spread
0.7 (varies by region) 1.0
EURUSD Spread
0.2 (varies by region) 0.2
EURGBP Spread
0.6 (varies by region) 0.5
Cryptocurrency
Trade cryptos against major fiat currencies or take a longer-term view with ETNs. FXCC offers 8 of the most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. High leverage up to 1:10 is available on BTC and 1:5 on other cryptos. There are no restrictions on crypto trading strategies with Expert Advisors (EAs) also permitted.
Spread
Variable Variable
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • XTZ
  • SOL
  • ADA
  • DOT
  • BTC
  • BCH
  • ETH
  • LTC
  • XMR
  • ZEC
  • DAS
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Saxo FXCC
Review
Review
66% of retail accounts lose money.
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