Saxo Bank vs Phillip Nova 2026: Which Broker is Better?
Choosing between Saxo Bank and Phillip Nova depends on your trading style, preferred markets, and budget. Saxo Bank is headquartered in Copenhagen, Denmark, while Phillip Nova operates from Singapore. Saxo Bank has the longer track record, established in 1992, compared to Phillip Nova which was founded in 2005. 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
Phillip Nova
| Saxo Bank | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 4.0/5 ✓ | 3.4/5 |
| Min. Deposit | $2000 | $0 ✓ |
| Spread from | 0.4 pips ✓ | 0.6 pips |
| Max Leverage | 1:200 ✓ | 1:20 |
| Regulation | FCA, MAS, ASIC ✓ | MAS |
| Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, POEMS |
Saxo Bank is the better choice overall, scoring 4.0/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Saxo Bank offers lower spreads (0.4 pips).
See full side-by-side comparison belowSaxo Bank vs Phillip Nova: Key Differences
Saxo Bank
WinnerPhillip Nova
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Fees Comparison
Saxo Bank
Phillip Nova
Regulation & Trust
Saxo Bank holds licences from FCA, MAS, ASIC. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. Saxo Bank additionally covers Stocks. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, Saxo Bank is more competitive with EUR/USD spreads from 0.4 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
Saxo Bank supports Proprietary Web, Proprietary Mobile. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
Saxo Bank requires a minimum deposit of $2,000, while Phillip Nova sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores Saxo Bank at 4.00/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Saxo Bank leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
- Higher overall rating (4.0/5)
- Tighter spreads (from 0.4 pips)
- Higher leverage (up to 1:200)
- More regulatory licences (3)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No per-trade commission
- No minimum deposit
- More platforms (3 supported)
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 & Phillip Nova are available in
Frequently Asked Questions
1Is Saxo Bank better than Phillip Nova?
Saxo Bank scores higher overall on our independent rating system. Saxo Bank holds a 4.0/5 rating vs Phillip Nova's 3.4/5. 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 Phillip Nova?
Saxo Bank offers spreads from 0.4 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Saxo Bank vs Phillip Nova?
Saxo Bank requires a minimum deposit of $2000. Phillip Nova requires $0.
4Which broker is safer, Saxo Bank or Phillip Nova?
Saxo Bank is regulated by FCA, MAS, ASIC, while Phillip Nova holds licences from MAS.
5What trading platforms do Saxo Bank and Phillip Nova support?
Saxo Bank supports Proprietary Web, Proprietary Mobile. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both Saxo Bank and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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