Side-by-Side Comparison Independent Updated Jun 6, 2026
Saxo Bank vs OANDA 2026: Which Broker is Better?
Compare Saxo Bank and OANDA side by side on fees, regulation, platforms and our expert ratings. Find out which broker suits your needs.
Saxo Bank
OANDA
VS
| Saxo Bank | OANDA | |
|---|---|---|
| BrokerRank Score | 4.0/5 | 4.1/5 ✓ |
| Min. Deposit | $2000 | $0 ✓ |
| Spread from | 0.4 pips ✓ | 0.6 pips |
| Max Leverage | 1:200 ✓ | 1:50 |
| Regulation | FCA, MAS, ASIC | FCA, CFTC, ASIC ✓ |
| Platforms | Proprietary Web, Proprietary Mobile | MT4, Proprietary Web, Proprietary Mobile |
Quick VerdictBrokerRank recommends
Best for Beginners
OANDASaxo Bank
Best for Low Fees
Saxo BankOANDA
Best for Regulation
OANDASaxo Bank
Best Overall
OANDASaxo Bank
Quick Answer
OANDA is the better choice overall, scoring 4.1/5 vs 4.0/5 on BrokerRank's independent rating. On fees, Saxo Bank offers lower spreads (0.4 pips).
See full side-by-side comparison belowSaxo Bank vs OANDA: Key Differences
Feature
Saxo Bank
OANDA
WinnerOur Rating
4.0 / 5
4.1 / 5
Min. Deposit
$2000
$0
Spread From
0.4 pips
0.6 pips
Commission
$0.08/lot
None
Platforms
Proprietary Web, Proprietary Mobile
MT4, Proprietary Web, Proprietary Mobile
Markets
Stocks, Forex, Cfd, Indices, Commodities
Forex, Cfd, Indices, Commodities
Founded
1992
1996
Headquarters
Copenhagen, Denmark
New York, USA
Score
1 / 5
4 / 5
Fees Comparison
Fee
Saxo Bank
OANDA
Spread From
0.4 pips
0.6 pips
Commission
$0.08/lot
None
Deposit Fee
None
None
Withdrawal Fee
None
None
BrokerRank Verdict
Saxo Bank scores 4.00/5 while OANDA scores 4.09/5 in our independent rating.
OANDA edges ahead overall, but Saxo Bank may suit traders who prioritise different features. Read our full reviews for a detailed breakdown. Scores are based on our transparent methodology.
Who Should Choose Which?
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
- Tighter spreads (from 0.4 pips)
- Higher leverage (up to 1:200)
- More market types (5)
- More established (est. 1992)
OANDA
4.1/5
Choose OANDA if you want…
- Higher overall rating (4.1/5)
- No per-trade commission
- No minimum deposit
- More regulatory licences (4)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Saxo Bank & OANDA are available in
Frequently Asked Questions
1Is Saxo Bank better than OANDA?
OANDA scores higher overall on our independent rating system. Saxo Bank holds a 4.0/5 rating vs OANDA's 4.1/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, Saxo Bank or OANDA?
Saxo Bank offers spreads from 0.4 pips, while OANDA starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Saxo Bank vs OANDA?
Saxo Bank requires a minimum deposit of $2000. OANDA requires $0.
4Which broker is safer, Saxo Bank or OANDA?
Saxo Bank is regulated by FCA, MAS, ASIC, while OANDA holds licences from FCA, CFTC, ASIC, MAS.
5What trading platforms do Saxo Bank and OANDA support?
Saxo Bank supports Proprietary Web, Proprietary Mobile. OANDA supports MT4, Proprietary Web, Proprietary Mobile.
6Can I use both Saxo Bank and OANDA?
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.
Higher Rated
OANDA
Capital at risk · T&Cs apply