Compare Saxo Bank Vs ThinkMarkets: Which is the Better Forex Broker in 2024?
Saxo Bank Vs ThinkMarkets, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between Saxo Bank Vs ThinkMarkets, here is the direct comparison:
Feature | Saxo Bank | ThinkMarkets |
General Rating |
1.00/5 |
2.87/5 |
|
Score | 50 | 73 | |
Trustpilot |
3.7/5 5565 users |
4.3/5 79 users |
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💼 Regulation | |||
❗Info | |||
⌛ Established | 1992 | 2010 | |
💲 Min Deposit | $2000 | $0 | |
⚖ Max Leverage | 1:200 | 1:500 | |
🔢 Spread | Fixed | Variable | |
💸 Commissions | $3.50 | ||
💡 Min Position | 0.05 lot | 0.01 lot |
💳 Payment | Wire transfer and Credit/debit cards | Crypto, BPAY, Credit/debit cards, Ethereum, Neteller, PayPal, Skrill, Tether (USDT), Wire transfer and Perfect money | |
🏢 Office(s) |
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🧩 Demo Account | |||
📁 Segregated Account | |||
🕋 Islamic Account | |||
👨💻 PAMM Account | |||
📈 Managed Account | |||
LAMM Account | |||
MAM Account |
💱 Hedging | |||
🇺🇸 US traders | |||
📫 Requires sending documents via postal mail | |||
🕛 Swaps | |||
☎️ Trading by telephone |
🏆 Trading contests | |||
⚡ Automated trading | |||
💰 Bonus offers | |||
📖 Free education | |||
👔 Affiliate program |
1️⃣ One-click trading | |||
⏱ Trailing stop | |||
⏳ Pending orders |
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🗣 Website Languages | Arabic, Czech, Danish, German, Greek, English, Finnish, French, Hungarian, Italian, Hebrew, Dutch, Norwegian, Polish, Romanian, Russian, Slovenian, Chinese | Arabic, Chinese, Czech, English, German, Greek, Indonesian, Italian, Malay, Polish, Portuguese, Spanish, Thai, Vietnamese |
🚪 Trade Now | Open Saxo Bank | Open ThinkMarkets |
Testimonials
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Saxo Bank: Customer service simply does not exist. Forget them. They have...
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Saxo Bank: started the online application process but midway through i checked...
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Saxo Bank: They seriously need to learn how to communicate to new...
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Saxo Bank: After 2 years of being there as a trader and...
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Saxo Bank: Saxo says no withdrawal fee, but actually withdrawal has a...
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Saxo Bank: Customer service simply does not exist. Forget them. They have...
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Saxo Bank: started the online application process but midway through i checked...
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Saxo Bank: They seriously need to learn how to communicate to new...
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Saxo Bank: After 2 years of being there as a trader and...
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Saxo Bank: Saxo says no withdrawal fee, but actually withdrawal has a...
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ThinkMarkets: I've been trading there for the last six months. A...
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ThinkMarkets: Very high and frequent slippage at us30 and nas100, us30...
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ThinkMarkets: I've trade with Thinkmarkets for a year now. So far...
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ThinkMarkets: Thank you my friend recommend me ThinkMarkets. Their customer service...
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ThinkMarkets: No negative experience with Thinkmarkets. Funding process are easy, the...
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Saxo Bank: Customer service simply does not exist. Forget them. They have...
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See More Saxo Bank Testimonials
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See More ThinkMarkets Testimonials
News
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ThinkMarkets Expands Trading Options with NETH25 and SWI20 Indices
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Saxo Bank Wins Prime of Prime Award at FX Markets Asia Awards 2024
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ThinkMarkets Expands Trading Options with Spread Betting on ThinkTrader
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ThinkMarkets Now Licensed to Serve MENA Traders with DFSA Approval
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Charlie White-Thomson Steps Down as UK CEO of Saxo Bank Forex Broker
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Saxo Bank Sees 23% Drop in FX Volume for January
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ThinkMarkets Faces $4.28M Lawsuit: Must Return Client Funds
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Saxo Bank Implements Fee Reductions, Slashing Costs for Clients
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Saxo Bank Forex Broker Concludes 2023 with Impressive Trading Volumes
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Saxo Bank Forex Broker Unveils Saxo Options Talk Podcast
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Which one has the better spread?
Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, Saxo Bank provides their pricing with Fixed spread while ThinkMarkets offers Variable spread.
Saxo Bank vs ThinkMarkets: Who hosts the best trading platform?
The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
To support their clients, Saxo Bank enables trading with SaxoTraderPRO (Limited with 20 days), SaxoWebTrader (Limited with 20 days), SaxoTraderGO (Limited with 20 days). The offer is supported with One-click trading, Trailing stop, Pending orders. In comparison, ThinkMarkets provides trading with MetaTrader 4, MetaTrader 5, ThinkTrader, Social trading, Web with the support of One-click trading, Pending orders.
Is Saxo Bank or ThinkMarkets better in providing the trading instruments?
It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
In this case, Saxo Bank supports trading with Forex, Gold & silver, CFD, Spread betting, Crypto, while ThinkMarkets presents the ability of trading with Forex, Gold & silver, Stock CFD, Indexes, Crypto, Oil.
In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.
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