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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #4 · Editorial rating 10 / 10 · Founded 1992
Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a…
Read the Saxo Bank review
Trust rank #24 · Editorial rating 9 / 10 · Founded 1982
TradeStation forex broker offers forex trading on a well-regarded platform with advanced charting, customizable order tools, and API-driven automation. Users can analyze currency pairs, execute trades, and streamline workflows within a technology-focused…
Read the TradeStation reviewSaxo Bank (Denmark, founded 1992) holds 6 regulatory licences (ASIC, DFSA, FCA, FINMA, MAS…), 5 of them tier-1, offers Proprietary, TradingView and sits in our low-fee bracket. TradeStation (United States, founded 1982) holds 3 regulatory licences (CFTC, FCA, NFA), 3 of them tier-1, offers Proprietary and sits in our low-fee bracket. The two overlap in 41 countries; Saxo Bank is available in 1 countries where TradeStation is not, and TradeStation in 192 where Saxo Bank is not.
Scored on 9 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | Saxo Bank | TradeStation |
|---|---|---|
| Editorial rating | 10 / 10 | 9 / 10 |
| Trust rank | #4 | #24 |
| Founded | 1992 | 1982 |
| Headquarters | Denmark | United States |
| Regulators | ASIC, DFSA, FCA, FINMA, MAS, SFC | CFTC, FCA, NFA |
| Broker type | DMA, STP | Market Maker |
| Platforms | Proprietary, TradingView | Proprietary |
| Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals | Forex |
| Countries accepted | 42 countries | 233 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | Spot Trading |
| Best-for use cases | Professional Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (41): Australia, Austria, Belgium, Croatia, Czechia, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Greece, Greenland, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Thailand, United Arab Emirates and 1 more.
Only Saxo Bank (1): Japan.
Only TradeStation (192): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana and 167 more.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
Saxo Bank holds more regulatory licences: Saxo Bank (ASIC, DFSA, FCA, FINMA, MAS, SFC) versus TradeStation (CFTC, FCA, NFA). Tier-1 licences: Saxo Bank 5, TradeStation 3.
Saxo Bank offers Proprietary, TradingView; TradeStation offers Proprietary.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
TradeStation is the older of the two, founded in 1982; Saxo Bank was founded in 1992.
They overlap in 41 countries. Saxo Bank is additionally available in 1 countries (Japan) and TradeStation in 192 countries (Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola and 186 more).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.