Saxo Bank
Monex
VS
Higher Rated
Saxo Bank
Capital at risk · T&Cs apply
Choosing between Saxo Bank and Monex depends on your trading style, preferred markets, and budget. Saxo Bank is headquartered in Copenhagen, Denmark, while Monex operates from Tokyo, Japan. Saxo Bank has the longer track record, established in 1992, compared to Monex which was founded in 1999. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Saxo Bank
Monex
| Saxo Bank | Monex | |
|---|---|---|
| BrokerRank Score | 4.0/5 ✓ | 3.4/5 |
| Min. Deposit | $2000 | $0 ✓ |
| Spread from | 0.4 pips | 0 pips ✓ |
| Max Leverage | 1:200 ✓ | 1:3 |
| Regulation | FCA, MAS, ASIC ✓ | FSA, SEC |
| Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, TradeStation JP |
Saxo Bank is the better choice overall, scoring 4.0/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Monex offers lower spreads (0 pips).
See full side-by-side comparison belowSaxo Bank
WinnerMonex
Saxo Bank
Monex
Saxo Bank holds licences from FCA, MAS, ASIC. Monex is regulated by SEC, FSA.
Both brokers offer access to Stocks, Forex markets. Saxo Bank additionally covers Cfd, Indices, Commodities. Monex adds Etf, Crypto.
On spreads, Monex is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.4 pips at Saxo Bank.
Saxo Bank supports Proprietary Web, Proprietary Mobile. Monex offers Proprietary Web, Proprietary Mobile, TradeStation JP. Both brokers are available on Proprietary Web, Proprietary Mobile.
Saxo Bank requires a minimum deposit of $2,000, while Monex sets no minimum deposit. This makes Monex accessible to traders with any budget.
BrokerRank scores Saxo Bank at 4.00/5 and Monex at 3.42/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Saxo Bank leads overall with a clear advantage.
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
Monex
3.4/5
Choose Monex if you want…
Saxo Bank scores higher overall on our independent rating system. Saxo Bank holds a 4.0/5 rating vs Monex's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Saxo Bank offers spreads from 0.4 pips, while Monex starts at 0 pips. Check the fees section above for a full breakdown.
Saxo Bank requires a minimum deposit of $2000. Monex requires $0.
Saxo Bank is regulated by FCA, MAS, ASIC, while Monex holds licences from FSA, SEC.
Saxo Bank supports Proprietary Web, Proprietary Mobile. Monex supports Proprietary Web, Proprietary Mobile, TradeStation JP.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.