image Saxo Capital Markets VISIT SAXO CAPITAL MARKETS image Swissquote VISIT SWISSQUOTE image City Index VISIT CITY INDEX
About

Saxo Capital Markets is regulated by the Financial Conduct Authority. Saxo Capital Markets have provided Forex, CFD, Binary options, Indices, CFDs, ETF & ETCs, Bonds and Stocks trading services since 2012.

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK Chemin de la Cretaux 33, 1196 Gland, Switzerland London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 180 138 84
Commodities Offered 70 7 26
Stocks Offered 19000 0 4500
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs Yes No Yes
IPO No No No
See all instruments

69% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

69% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

69% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No Yes No
MT4 Mac Yes No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No No Yes
Custom Platforms SaxoTrader eTrading AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

69% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Saxo Capital Markets and Swissquote

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account No No No
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

69% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging No Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access No No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot Varies 1 Lot
Max trade None Varies Varies
Min deposit 6,500 1,000 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller No No No
Skrill No No No
Payment processing time Varies 1 business day 2-3 business days
Withdrawal processing time Varies 1 business day 2-3 business days
See all funding options

69% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number No 41 22 999 94 11 0845 355 0801
Live Chat No Yes Yes
Website http://uk.saxomarkets.com/ http://en.swissquote.com/ www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 0.2 pips + $2.00 1.0 pips 0.5 pips
GBP/USD (Average: 1.1 pips) 0.2 pips + $2.00 1.1 pips 0.5 pips
USD/JPY (Average: 1.1 pips) 0.2 pips + $2.00 1.3 pips 1.6 pips
AUD/USD (Average: 0.8 pips) 0.4 pips + $2.00 1.0 pips 0.5 pips
USD/CHF (Average: 2.3 pips) 0.8 pips + $2.00 1.7 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 0.8 pips + $2.00 2.2 pips 0.5 pips
NZD/USD (Average: 3.6 pips) 0.8 pips + $2.00 1.5 pips 2.3 pips
EUR/GBP (Average: 2.4 pips) 0.6 pips + $2.00 1.3 pips 0.5 pips
View all spreads

69% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission Yes No 0.0015
Deposit Fee No No Varies
Withdrawal Fee No No Varies
View All Fees

69% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://uk.saxomarkets.com/. Last updated on 01/07/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

Saxo Capital Markets provides both retail and institutional traders access to FX, CFDs, ETFs, Stocks, Futures and Options markets using their award winning SaxoTrader platform providing traders the speed and performance you need. They are a trusted broker regulated by the Financial Conduct Authority in the UK. Saxo Capital Markets has access to over 30, 000 assets including over 19, 000 stocks and 9000 CFDs. With over 20 years in electronic trading, Saxo Capital Markets is a broker you can trust.

For more information about trading with Saxo Capital Markets, we have put together an indepth Saxo Capital Markets review with some of the pros and cons about this broker.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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Saxo Capital Markets or Swissquote?

ECN execution or low spreads?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), Saxo Capital Markets is likely the better choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Swissquote may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Saxo Capital Markets and Swissquote to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Saxo Capital Markets and Swissquote are both regulated by Financial Conduct Authority

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Saxo Capital Markets and Swissquote will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Saxo Capital Markets has been around for 7 years, while Swissquote have been around for 20 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Saxo Capital Markets and Swissquote use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Saxo Capital Markets or Swissquote in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Saxo Capital Markets is a publicly listed company, while on the other hand Swissquote is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Saxo Capital Markets are based in London, UK, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Saxo Capital Markets and Swissquote offer forex trading. Saxo Capital Markets have a slightly larger variety of currency pairs with 180 pairs, compared to 138 offered by Swissquote. Also, if you’re looking to trade cryptocurrencies,

Both Saxo Capital Markets and Swissquote allow you to trade commodities like gold, silver and crude oil.

Swissquote also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. City Index, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Saxo Capital Markets does allow scalping but doesn't allow hedging. While Swissquote also allows scalping and hedging. You can trade with EAs (expert advisors) on both Saxo Capital Markets and Swissquote.

In terms of risk management tools, neither Saxo Capital Markets or Swissquote offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Saxo Capital Markets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Saxo Capital Markets accept Payoneer while Swissquote accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Saxo Capital Markets charges 0.10 points, while Swissquote charges 0.80 points. Therefore, Saxo Capital Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Saxo Capital Markets or Swissquote?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Swissquote is more reliable based on our criteria above. Saxo Capital Markets has a wider range of instruments to trade. Saxo Capital Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.