Saxo vs FlowBank 2024

Saxo is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Saxo is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

FlowBank operates a regulated Swiss bank, and is authorised by one Tier-1 regulator (high trust): the Swiss Financial Market Supervisory Authority (FINMA).

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.

As a relative newcomer to the Swiss online brokerage scene, FlowBank already has a lot to offer its customers. FlowBank clients benefit from the advantages that come with holding a Swiss bank account, and its brokerage services provide access to more advertised symbols than any online broker that we’ve reviewed thus far.

To open a trading account with Saxo, you'll need to make an initial minimum deposit of $0.

FlowBank requires a minimum deposit of $0 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both Saxo and FlowBank offer Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo holds 7 global Tier-1 licenses, while FlowBank holds 1. Saxo holds 1 global Tier-2 licenses, while FlowBank holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo (99) earned a higher Trust Score than FlowBank (80).

To compare the trading platforms of both Saxo and FlowBank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo offers a better experience. With research, Saxo offers superior market research. Finally, we found Saxo to provide better mobile trading apps.

Here’s what trading platforms are available at Saxo:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at FlowBank:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FlowBank offers MetaTrader 4 (MT4), while Saxo does not. Forex traders also appreciate the ability to engage in social copy trading. Saxo and FlowBank both offer copy trading.

Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to FlowBank's 52 available pairs. If you are interested in trading CFDs, FlowBank offers traders access to 408600 CFDs, while Saxo offers access to 70000 CFDs; so FlowBank offers 338600 more CFDs than Saxo.

We found in our testing that Saxo offers a more diverse selection of investment options than FlowBank, allowing you to trade both brokers allow traders to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.