Updated September 29, 2026 · BrokerCue Editorial Team
Saxo vs Swissquote
What sets them apart
| Compare |  Saxo |  Swissquote |
|---|---|---|
| Minimum deposit | CHF 0 | $1,000 |
| Stock trade fee | $1Lower | $20 |
| Inactivity fee | €0 | $10 |
| Markets | Stocks, ETFs, Forex, CFDs, Options, Futures, Bonds, Funds | Stocks, Forex, CFDs, Crypto |
| Regulators | Danish Financial Supervisory Authority (FSA), Financial Conduct Authority (FCA) | Commission de Surveillance du Secteur Financier (CSSF) |
| Account fee | €0 | Not confirmed |
| Retail accounts that lose money | 64% | Not confirmed |
| Currency conversion fee | 0.25% | Not confirmed |
| Options contract fee | $2 | Not confirmed |
| Deposit and withdrawal fees | Free deposits and withdrawals | Not confirmed |
| Platforms | SaxoInvestor, SaxoTrader | Not confirmed |
| Account types | Joint, Corporate | Not confirmed |
| Maximum retail leverage | Not confirmed | 1:100 |
Same on both: Investor protection (EU ICS up to EUR 20,000).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Saxo scores higher overall: 9.3 vs 8.8.
- Regulators: only Saxo offers Danish Financial Supervisory Authority (FSA), Financial Conduct Authority (FCA).
- Regulators: only Swissquote offers Commission de Surveillance du Secteur Financier (CSSF).
- Founded is lower at Saxo: 1992 vs 1996.
- Saxo is licensed in 1 more country.
- Stock trade fee is lower at Saxo: $1 vs $20.
- Markets: only Saxo offers ETFs, Options, Futures.
- Markets: only Swissquote offers Crypto.
- Features: only Saxo offers Fractional shares.
Our verdict on each
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.
Swissquote
Swissquote runs a Swiss bank entity under CSSF supervision with EU investor compensation, so it suits traders who want a bank behind the account. The trade-off is entry cost: a stock trade fee of $20 and a minimum deposit of $1,000 sit well above cheaper rivals.
Score breakdown
| Area | Saxo | Swissquote |
|---|---|---|
| Cost | 9.1HigherAccount fee and inactivity fee are both €0 and €0, and the minimum deposit is CHF 0. Stock trades cost $1. | 8.3Costs run high: stock trade fee $20, minimum deposit $1,000 and inactivity fee $10 sit above site medians. |
| Offer | 9.3Higher | 9.0 |
| Trust | 9.5Higher | 9.0 |
Where they rank in our lists
| Ranking | Saxo | Swissquote |
|---|---|---|
| Stock and ETF brokers | 78 of 471 | 187 of 471 |
| Forex brokers | 33 of 147 | 80 of 147 |
| Low-spread forex brokers | 31 of 145 | 78 of 145 |
| CFD brokers | 25 of 122 | 67 of 122 |
Side by side, item by item
| Markets | Saxo | Swissquote |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | No |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Options | Yes | No |
| Futures | Yes | No |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
Availability and regulation
| Country | Saxo | Swissquote |
|---|---|---|
| Denmark | Not confirmed | |
| Luxembourg | Not confirmed | Commission de Surveillance du Secteur Financier (CSSF) MiCA CASP 549300M2IHOB9P5WE714 |
| United Kingdom | Not confirmed |
If neither fits
ActivTrades has stock trade fee at $0, against $1 for Saxo and $20 for Swissquote.
ActivTrades reviewWhat we checked
Saxo
- home.saxo: 6 facts, checked September 26, 2026
- brokerchooser.com: 5 facts, checked September 26, 2026
- bestbrokers.com: 3 facts, checked September 26, 2026
- landofforex.com: 2 facts, checked September 26, 2026
- moneyland.ch: 1 fact, checked September 26, 2026
Swissquote
- swissquote.com: 7 facts, checked September 26, 2026
- esma.europa.eu: 4 facts, checked September 26, 2026
Every fact side by side
| Fact | Saxo | Swissquote |
|---|---|---|
| Features | Demo account, Fractional shares, Mobile appCovers more | Demo account, Mobile app |
| Pricing model | Low fees | Not confirmed |
| Legal entity | Saxo Bank A/S | Swissquote Bank Europe SA |
| Headquarters | Denmark | Luxembourg |
| Founded | 1992Lower | 1996 |
| Support channels | Not confirmed | Phone, Help centre |
Robo-advisors
| Fact | Saxo | Swissquote |
|---|---|---|
| Portfolio types | Not confirmed | ESG |
Where each stands against the rest
| Fact | Saxo | Swissquote | Median |
|---|---|---|---|
| Stock trade fee | $1highest quarter | $20highest quarter | $0 |
| Account fee | €0at the median | Not confirmed | €0 |
| Retail accounts that lose money | 64%lowest quarter | Not confirmed | 72.05% |
| Currency conversion fee | 0.25%below the median | Not confirmed | 0.45% |
| Options contract fee | $2highest quarter | Not confirmed | $0.625 |
Median across 91 listed brokers.
Pros and cons
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
Swissquote
Pros
- Regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, with the legal entity named as Swissquote Bank Europe SA.
- Covers stocks, forex, CFDs and crypto on a single account, with retail leverage of 1:100.
- A demo account and a mobile app are both listed features, so you can test before committing.
Cons
- Costs are high for a retail account: a stock trade fee of $20 against a site median of €0.
- The minimum deposit of $1,000 ranks 191 of 213, far above the site median of €4.64.
- An inactivity fee of $10 applies, where the site median is €0.
Who each suits
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
Swissquote
Who it suits
- Traders moving between forex, CFDs, crypto and shares on a single account
- Investors who put weight on a supervised bank entity and investor compensation
- People who want to practise on a demo account before risking money
Who should look elsewhere
- Newcomers with a small starting balance, since the minimum deposit is $1,000
- Share buyers focused on trading costs, given the stock trade fee of $20 against eToro at $0
- Passive long term investors, because the portfolio options listed are esg
Questions about each
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.
Swissquote
How much does it cost to trade shares with Swissquote?+
The stock trade fee is $20, which is well above the site median of €0. Swissquote ranks 161 of 161 on this measure, so share dealing here is costly. eToro, by contrast, charges $0 per trade.
What is the minimum deposit to open an account?+
The minimum deposit is $1,000, which is a high bar for a first account. On our data Swissquote ranks 191 of 213 on this measure, against a site median of €4.64. Vantage asks for $5 and CFI for $0.
Other options to compare
Other matchups
- Saxo vs Trading 212
- Saxo vs LYNX
- Saxo vs IG
- Saxo vs Vanguard
- Saxo vs BUX
- Saxo vs AJ Bell
- Saxo vs TradeZero
- Saxo vs Freedom24
- Saxo vs Capital.com
- Saxo vs Fineco Bank
- Saxo vs Fidelity
- Saxo vs EC Markets
- Saxo vs Moneybox
- Saxo vs Wealthify
- Saxo vs ActivTrades
- Saxo vs XTB
- Saxo vs NAGA
- Saxo vs eToro
- Swissquote vs Mintos
- Saxo vs Bitpanda
- Saxo vs Robinhood
- Saxo vs Empower Personal Dashboard
- Saxo vs EBC Financial Group
- Swissquote vs CapTrader
- Saxo vs Lightyear