GOMarkets vs Saxo Bank: Which One is Better for You?


GOMarkets vs Saxo Bank, 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 GOMarkets vs Saxo Bank, here is the direct comparison:

Feature
Go to GOMarkets

Go to Saxo Bank

Rating

General Rating 4.12/5
3.86/5
Trustpilot 4.6/5

rated by 36 users
2.1/5

rated by 1 users

General Information

Office(s) Australia and Netherlands China, Greece, India, Italy, Netherlands, Spain, United Arab Emirates and United Kingdom
Regulation ASIC ACN081864039
CySEC, 322/17
DMCC (Dubai), 18.07.2020
ASIC, 109605610
Banque de France, 483632501
CySEC 163/12
FCA (UK), FC026688
FSA (Denmark), 1149
SFC (Hong Kong), 1395901
Established 2008 1992
Minimum Deposit $200 $10000
Maximum Leverage 1:500 1:200
Spread Variable Fixed
Commissions $3
Minimum Position 0.001 lot 0.05 lot
Payment BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill and Wire transfer Credit/debit cards and Wire transfer
Official Website Visit GOMarkets Visit Saxo Bank

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Chinese, English Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hebrew, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, Spanish
Email Support
Call Support
Chat Support

Reviews

General Review Read GOMarkets Review Read Saxo Bank Review
User Reviews -

Thomas

Sep 17 2020

Customer service simply does not exist. Forget them. They have a great affiliate marketing to convince people to join but that is all.


Terajuana

Sep 16 2020

started the online application process but midway through i checked this site for their reviews and seen how bad they are. I stopped the process but my details were saved on their system. They have tried to call me 3 times every day for the last 2 weeks and no signs of them stopping. Why do they need to do this and it is a major red flag. avoid


Faughan

Sep 15 2020

They seriously need to learn how to communicate to new clients. Impossible to open a Corporate Ltd account, sent all required info and they don’t bother to even confirm receipt or if in the process, I’ve been calling them for 9 days since submitting and they pass you around to someone else who says they are not dealing with it. I would hate to think how stressful it would be if I had to call them to try resolve a trading issue.


Kuangfui321

Sep 14 2020

After 2 years of being there as a trader and investor, I’m very satisfied with the platform. It’s intuitive, genuine and fast process of withdrawal. Look forward more improvement from Saxo!


Farhang

Sep 13 2020

Saxo says no withdrawal fee, but actually withdrawal has a fee under the name of intermediary charges, funny enough that there is no other bank involved in the withdrawal transaction.


Start Trading

Open Real Account Open GOMarkets Real Account Open Saxo Bank Real Account




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, GOMarkets provides their pricing with Variable while Saxo Bank offers Fixed.



GOMarkets vs Saxo Bank: 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, GOMarkets enables trading with MetaTrader 4 (Limited with 30 days), MetaTrader 5 (Limited with 30 days). The offer is supported with Mobile trading, One-click trading, Trailing stop, Pending orders. In comparison, Saxo Bank provides trading with SaxoTraderPRO (Limited with 20 days), SaxoWebTrader (Limited with 20 days), SaxoTraderGO (Limited with 20 days) with the support of Mobile trading, Browser-based platform, One-click trading, Trailing stop, Pending orders.



Is GOMarkets or Saxo Bank 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, GOMarkets supports trading with Forex, Gold & silver, Cryptocurrencies, while Saxo Bank presents the ability of trading with Forex, Gold & silver, CFD, Spread betting, Cryptocurrencies.

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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