Saxo Bank vs ThinkMarkets 2026: Which Broker is Better?

Regulation & Safety

Saxo Bank, established in 1992 and headquartered in Copenhagen, Denmark, is regulated by prominent authorities including the Financial Conduct Authority (FCA) in the UK, the Monetary Authority of Singapore (MAS), and the Australian Securities and Investments Commission (ASIC). These regulatory bodies ensure Saxo Bank adheres to stringent financial standards, providing clients with a robust level of safety and security. Additionally, Saxo Bank participates in fund protection schemes, such as the Financial Services Compensation Scheme (FSCS) in the UK, which enhances client confidence.

ThinkMarkets, founded in 2010 with its headquarters in London, UK, is also regulated by the FCA and ASIC. These regulatory bodies are known for their rigorous oversight, ensuring that ThinkMarkets maintains high standards of financial integrity. The broker offers additional security through its participation in compensation schemes like the FSCS, providing an extra layer of protection for client funds.

Fees & Spreads

Saxo Bank offers spreads starting from 0.4 pips, with commissions set at 0.08%, making it competitive for high-volume traders who can offset the initial high minimum deposit of $2,000. However, small account holders may find the fees relatively high. Overnight fees apply, which can affect profitability in leveraged positions, especially given the maximum leverage of 1:200. Saxo Bank's fee structure may not be ideal for beginners due to the high entry costs.

In contrast, ThinkMarkets offers a more flexible fee structure with spreads starting from 0 pips, albeit with a commission of $3.5 per lot on ThinkZero accounts. The broker has no minimum deposit requirement, making it accessible to new traders. With a higher maximum leverage of 1:500, ThinkMarkets provides opportunities for traders aiming to maximise their potential returns. While commissions exist, the absence of entry barriers makes it a cost-effective choice for traders of varying experience levels.

Trading Platforms

Saxo Bank provides its proprietary platforms, SaxoTraderGO and SaxoTraderPRO, which are known for their advanced tools and professional-grade features, catering to experienced traders. On the other hand, ThinkMarkets offers a diverse range of platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary ThinkTrader. ThinkTrader is particularly noted for its advanced tools and user-friendly mobile application, making it suitable for traders who require flexibility and mobility.

Who Should Choose Saxo Bank?

• Professional traders seeking access to a wide range of instruments.
• Investors interested in trading real stocks and bonds, not just CFDs.
• Traders who value comprehensive research and analysis tools.
• High-volume traders looking for competitive commission rates.

Who Should Choose ThinkMarkets?

• Beginner traders looking to start without a minimum deposit.
• Traders who prefer using MT4 or MT5 platforms.
• Mobile traders who need a robust and intuitive mobile trading app.
• Forex traders seeking low spreads starting from 0 pips.

Our Verdict

For beginners, ThinkMarkets is the better choice due to its no minimum deposit and user-friendly platforms. Professional traders may prefer Saxo Bank for its extensive range of instruments and professional-grade tools. In terms of fees, ThinkMarkets offers a more economical option for smaller accounts and those starting out in trading.