How do Saxo and Exness stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Saxo and Exness, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Saxo or Exness have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Saxo holds five Tier 1 and one Tier 2 licences, and Exness holds no Tier 1 and no Tier 2 licences.

 

Is Saxo financially regulated?

Yes Saxo was founded in 1992 and is regulated by ASIC, AMF, CONSOB, FCA, MAS and FINMA.

 

Is Exness financially regulated?

Yes Exness was founded in 2008 and is regulated by B.V.I FSC, CMA, FSC, FSCA and FSA-Seychelles.

 

Based on these findings, Saxo earned a higher trust rating than Exness.

Does Saxo or Exness have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Exness has overall lower trading costs than Saxo. 

 

Does Saxo or Exness offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Exness offers support for and Saxo offers support for . 

Do the brokers offer copy trading?

In this case both Exness and Saxo offer copy trading.

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Saxo offers a greater range and depth of instruments to trade than Exness. Saxo offers 190 Forex pairs to trade and Exness offers 100 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, Exness offers 34 cryptocurrencies while Saxo offers 9 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Exness.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Exness nor Saxo charges a withdrawal fee. Overall, Exness has better deposit and withdrawal processes than Saxo. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

Saxo has better educational support than Exness. Both Exness and Saxo offer educational support for more experienced traders.

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that Saxo offers better research analysis than Exness and that both Exness and Saxo offer frequent webinars.

 

Our overall Verdict on Saxo

An excellent all-round broker, Saxo Bank is a well-regulated investment bank and brokerage with two top-end trading platforms and an outstanding selection of financial instruments. 

Geared towards more experienced traders, Saxo Bank’s ongoing trading fees are lower than average across all three account options, with spreads that average between 0.4 pips and 0.8 pips (EUR/USD), but it has a high minimum deposit of 500 GBP on its entry-level account and a whopping 1,000,000 GBP on its VIP Account. Experienced traders will also be satisfied with the number of financial instruments on offer, which includes no less than 190 Forex pairs. 

Saxo Bank’s platforms are some of the best in the industry, and although MT4 and MT5 are not available, it supports algorithmic trading. We were also impressed at the quality and frequency of market research available at the brokerage, which is on par with some of the biggest players in the industry. 

Our overall Verdict on Exness

NOTE:  Currently, Exness does not accept traders from the UK.  As a replacement we recommend Pepperstone as a well-regulated broker.

Exness is a popular global broker with nine different trading accounts and one of the lowest-cost Cent Accounts in the industry. Exness also has 100+ Forex pairs to trade, many more than most other brokers, and a great range of trading platforms and tools.

Exness offers support for MT4, MT5, and its user-friendly proprietary platform, Exness Terminal, available as a desktop and mobile app. In addition to fundamental and technical market analysis tools, including FXStreet News and Trading Central, Exness also hosts expert-led educational seminars in various regions as well as live webinars.

Exness will be a difficult choice for some traders. While it has low trading costs and minimum deposits on a range of trading accounts, excellent trading tools, and a range of trading platforms, the lack of FCA protection may be a concern.

Which broker has the highest overall rating?

Saxo has an overall rating of 4.36 and Exness has an overall rating of 4.32. For more detail please read our reviews of Saxo and Exness.