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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 #7 · Founded 2002
XTB is a forex and CFD broker offering a proprietary platform, broad instrument coverage, and integrated research and education. It is regulated in multiple jurisdictions.
Read the XTB 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. XTB (Poland, founded 2002) holds 5 regulatory licences (DFSA, FCA, FSCA, IFSC, KNF), 1 of them tier-1, offers Proprietary and sits in our low-fee bracket. The two overlap in 29 countries; Saxo Bank is available in 13 countries where XTB is not, and XTB in 19 where Saxo Bank is not.
Scored on 8 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 | XTB |
|---|---|---|
| Editorial rating | 10 / 10 | Not verified |
| Trust rank | #4 | #7 |
| Founded | 1992 | 2002 |
| Headquarters | Denmark | Poland |
| Regulators | ASIC, DFSA, FCA, FINMA, MAS, SFC | DFSA, FCA, FSCA, IFSC, KNF |
| Broker type | DMA, STP | Market Maker |
| Platforms | Proprietary, TradingView | Proprietary |
| Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals | Commodities, Cryptocurrencies, Forex, Indices |
| Countries accepted | 42 countries | 48 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD 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 (29): Austria, Belgium, Croatia, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Thailand, United Arab Emirates, United Kingdom.
Only Saxo Bank (13): Australia, Faroe Islands, Greenland, Hong Kong, Iceland, Israel, Japan, Monaco, Norway, Qatar, Saudi Arabia, Singapore, Switzerland.
Only XTB (19): Angola, Bermuda, Bulgaria, Canada, Chile, Cyprus, Georgia, Indonesia, Mauritania, Moldova, Montenegro, North Macedonia, Philippines, Saint Kitts and Nevis, Serbia, South Africa, Trinidad and Tobago, Vietnam, Zambia.
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 XTB (DFSA, FCA, FSCA, IFSC, KNF). Tier-1 licences: Saxo Bank 5, XTB 1.
Saxo Bank offers Proprietary, TradingView; XTB offers Proprietary.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
Saxo Bank is the older of the two, founded in 1992; XTB was founded in 2002.
They overlap in 29 countries. Saxo Bank is additionally available in 13 countries (Australia, Faroe Islands, Greenland, Hong Kong, Iceland, Israel and 7 more) and XTB in 19 countries (Angola, Bermuda, Bulgaria, Canada, Chile, Cyprus and 13 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.