Updated September 29, 2026 · BrokerCue Editorial Team
FXCM vs Saxo
What sets them apart
| Compare |  FXCM |  Saxo |
|---|---|---|
| Minimum deposit | $50 | CHF 0 |
| Markets | Forex, CFDs, Crypto | Stocks, ETFs, Forex, CFDs, Options, Futures, Bonds, Funds |
| Regulators | FCA | Danish Financial Supervisory Authority (FSA), Financial Conduct Authority (FCA)Covers more |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Retail accounts that lose money | 63% | 64% |
| Stock trade fee | Not confirmed | $1 |
| Account fee | Not confirmed | €0 |
| Inactivity fee | Not confirmed | €0 |
| Currency conversion fee | Not confirmed | 0.25% |
| Options contract fee | Not confirmed | $2 |
| Deposit and withdrawal fees | Not confirmed | Free deposits and withdrawals |
| Platforms | Not confirmed | SaxoInvestor, SaxoTrader |
| Account types | Not confirmed | Joint, Corporate |
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Key differences
- Saxo scores higher overall: 9.3 vs 8.7.
- Regulators: only Saxo offers Danish Financial Supervisory Authority (FSA).
- Saxo is licensed in 1 more country.
- Markets: only FXCM offers Crypto.
- Markets: only Saxo offers Stocks, ETFs, Options.
Our verdict on each
FXCM
FXCM suits UK traders who want a single regulated account for forex, CFDs and crypto, opening from a minimum deposit of $50 with client money covered by FSCS up to GBP 85,000. The licence is a known name, which matters more than a bargain headline, since 63% of retail accounts lose money.
Saxo
Saxo suits investors who want a Danish bank with no account or inactivity charge and a wide market list, but the stock trade fee is $1 and the FX fee is 0.25%. Costs stay predictable for long holders, less so for frequent traders.
Score breakdown
| Area | FXCM | Saxo |
|---|---|---|
| Cost | 8.7Entry starts at $50 against a €4.64 site median, with dealing limited to forex, cfds and crypto. | 9.1HigherAccount fee and inactivity fee are both €0 and €0, and the minimum deposit is CHF 0. Stock trades cost $1. |
| Offer | 8.8 | 9.3Higher |
| Trust | 8.6 | 9.5Higher |
Availability and regulation
| Country | FXCM | Saxo |
|---|---|---|
| United Kingdom | FCA 217689 | |
| Denmark | Not confirmed |
How they place
| Ranking | FXCM | Saxo |
|---|---|---|
| Forex brokers | 83 of 147 | 33 of 147 |
| Low-spread forex brokers | 81 of 145 | 31 of 145 |
| CFD brokers | 69 of 122 | 25 of 122 |
Every fact side by side
| Fact | FXCM | Saxo |
|---|---|---|
| Features | Not confirmed | Demo account, Fractional shares, Mobile app |
| Pricing model | Not confirmed | Low fees |
| Legal entity | Stratos Markets Limited | Saxo Bank A/S |
| Headquarters | Not confirmed | Denmark |
| Founded | Not confirmed | 1992 |
Where each stands against the rest
| Fact | FXCM | Saxo | Median |
|---|---|---|---|
| Stock trade fee | Not confirmed | $1highest quarter | $0 |
| Account fee | Not confirmed | €0at the median | €0 |
| Inactivity fee | Not confirmed | €0below the median | €2.45 |
| Retail accounts that lose money | 63%lowest quarter | 64%lowest quarter | 72.05% |
| Currency conversion fee | Not confirmed | 0.25%below the median | 0.45% |
| Options contract fee | Not confirmed | $2highest quarter | $0.625 |
Median across 91 listed brokers.
Pros and cons
FXCM
Pros
- FCA regulation with FSCS up to GBP 85,000 protection standing behind client money.
- forex, cfds and crypto markets sit in the same account, so CFD and crypto trades stay under the same licence.
- A named UK operator, Stratos Markets Limited, sits behind the brand and the FCA licence 217689.
Cons
- The $50 minimum deposit is higher than CFI at $0 and Vantage at $5.
- The market list stops at forex, cfds and crypto, so no shares, ETFs or futures dealing sits alongside currency and crypto.
Saxo
Pros
- Account fee and inactivity fee are both €0 and €0
- Minimum deposit is CHF 0 and deposits and withdrawals carry no charge
- Regulated in Denmark by the Danish Financial Supervisory Authority and in the UK by the Financial Conduct Authority
Cons
- Stock trade fee of $1 sits well above the site median of €0
- FX fee of 0.25% applies on top of trading costs
- Investor protection is limited to the EU scheme at EU ICS up to EUR 20,000
Who each suits
FXCM
Who it suits
- UK retail traders who want forex, CFDs and crypto under a single FCA licence rather than several brokers.
- Traders who check the operator before depositing: Stratos Markets Limited and licence 217689.
- Anyone prepared for leverage, with 63% of retail accounts losing money.
Who should look elsewhere
- eToro, if you also want shares, ETFs and futures, since it lists stocks, etfs and forex.
- CFI, if you want to start without committing cash, since its minimum deposit is $0.
- Vantage, if a smaller starting deposit matters, since Vantage asks $5.
Saxo
Who it suits
- Investors holding stocks and ETFs long term who want no account or inactivity charge
- Traders who need forex, options, futures and CFDs on one account
- Joint and corporate account holders
Who should look elsewhere
- Beginners wanting commission-free share dealing, where eToro charges $0 per trade
- Small-balance traders unwilling to meet the Vantage minimum deposit of $5
- Frequent currency converters put off by the 0.25% FX fee
Questions about each
FXCM
What do I need to deposit to open an FXCM account?+
The published minimum deposit is $50, higher than the €4.64 median across brokers on the site. For comparison, CFI lists a minimum deposit of $0 and Vantage $5. Beyond that floor the account size is yours to set, and it shapes position sizing rather than the trading fee.
Who regulates FXCM in the UK?+
FXCM is regulated in the UK by the FCA, the sole regulator listed for the brand, and the FCA licence number is 217689. UK clients therefore sit inside the UK regulatory perimeter, with rules on how the firm holds money and treats clients. Anyone outside the UK would need to check their own regulator before opening.
Saxo
What does Saxo charge to hold an account?+
The account fee is €0 and the inactivity fee is €0, so there is no annual or dormancy charge. Saxo ranks 1 of 138 on account fee and 1 of 56 on inactivity fee. That makes it a straightforward choice for long-term holdings.
How much does it cost to buy a stock?+
Stock trades cost $1 through Saxo. That places it at 107 of 161 on this measure, and above the site median of €0. Active share traders should weigh that before opening.
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