Saxo Bank
Phillip Nova
VS
Higher Rated
Saxo Bank
Capital at risk · T&Cs apply
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
WinnerPhillip Nova
Saxo Bank
Phillip Nova
Saxo Bank holds licences from FCA, MAS, ASIC. Phillip Nova is regulated by MAS.
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. Saxo Bank additionally covers Stocks. Phillip Nova adds Crypto.
On spreads, Saxo Bank is more competitive with EUR/USD spreads from 0.4 pips, compared to 0.6 pips at Phillip Nova.
Saxo Bank supports Proprietary Web, Proprietary Mobile. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Web, Proprietary Mobile.
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.
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.
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
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.
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.
Saxo Bank requires a minimum deposit of $2000. Phillip Nova requires $0.
Saxo Bank is regulated by FCA, MAS, ASIC, while Phillip Nova holds licences from MAS.
Saxo Bank supports Proprietary Web, Proprietary Mobile. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across 345 brokers
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.