FP Markets vs Saxo Bank 2026: Which Broker is Better?

Regulation & Safety

FP Markets is a well-established broker, founded in 2005 and based in Sydney, Australia. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a robust legal framework and stringent compliance measures. The broker offers client fund protection through segregated accounts, which adds a layer of security for traders.

In contrast, Saxo Bank, founded in 1992 with headquarters in Copenhagen, Denmark, is regulated by multiple top-tier authorities, including the Financial Conduct Authority (FCA) in the UK, the Monetary Authority of Singapore (MAS), and ASIC. Saxo Bank's regulatory oversight is extensive, providing clients with a high level of safety and trust. It also offers segregated accounts and investor protection schemes, a testament to its commitment to safeguarding client funds.

Fees & Spreads

FP Markets is known for its competitive fee structure, particularly on its Raw account where spreads start from 0.0 pips. The commission is set at $3 per side, which is attractive for high-volume traders. The minimum deposit is low at $100, making it accessible for beginners. However, traders should be aware of potential overnight fees, which can impact long-term positions.

Saxo Bank offers a different pricing model with spreads starting at 0.4 pips and a commission of 0.08%. While its spreads are slightly higher than FP Markets, Saxo Bank provides access to over 40,000 instruments, including real stocks and bonds. The minimum deposit is significantly higher at $2,000, potentially deterring new traders. Additionally, Saxo Bank imposes higher fees on smaller accounts, making it less cost-effective for traders with limited capital.

Trading Platforms

FP Markets offers a range of platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and a proprietary mobile app. These platforms are particularly strong in technical analysis and automated trading capabilities. Saxo Bank, on the other hand, provides its proprietary SaxoTraderGO and SaxoTraderPRO platforms, known for their professional-grade tools and extensive market access. Saxo Bank's platforms are ideal for experienced traders seeking advanced charting and analysis features.

Who Should Choose FP Markets?

• Traders seeking low spreads and commissions.
• Beginners who prefer a low minimum deposit.
• Traders who utilise TradingView for analysis.
• Those wanting high leverage options (up to 1:500).

Who Should Choose Saxo Bank?

• Professional traders needing access to a wide range of instruments.
• Investors interested in trading real stocks and bonds.
• Experienced traders requiring advanced research tools and analysis.
• Traders with substantial capital, given the $2,000 minimum deposit.

Our Verdict

For beginners, FP Markets is the preferred choice due to its lower minimum deposit and competitive spreads. Professional traders may find Saxo Bank more appealing for its broader range of instruments and advanced trading platforms. In terms of fees, FP Markets offers a cost-effective solution for those seeking low spreads and commissions.