CMC Markets vs Saxo Bank
Can't decide between CMC Markets and Saxo Bank? We've put both brokers head-to-head. Compare their spreads, regulation, platforms, and fees below.
Last updated: May 27, 2026
Executive Summary
CMC Markets and Saxo Bank are both well-established forex brokers, but they serve different types of traders. CMC Markets scores 94/100 in our TrustMetrics™ system, while Saxo Bank leads with 96/100.
On pricing, Saxo Bank offers tighter EUR/USD spreads (0.6 pips vs 0.7 pips). CMC Markets supports Next Generation, MT4 while Saxo Bank offers SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, giving Saxo Bank more platform options.
For regulation, CMC Markets holds licenses from FCA, ASIC, BaFin, MAS while Saxo Bank is regulated by DFSA, FCA, ASIC, MAS, JFSA. Both brokers offer segregated client funds and are considered safe for retail trading.
The Verdicts
Most Trusted
Saxo Bank scores higher in our TrustMetrics system (96/100) compared to CMC Markets (94/100), making it the safer choice.
Lowest Spreads
Saxo Bank offers better pricing with an average EUR/USD spread of 0.6 pips, beating the 0.7 pip average of its competitor.
Best for Beginners
Both brokers require a $0 minimum deposit, making them equally accessible.
Detailed Comparison
| Feature | CMC Markets | Saxo Bank |
|---|---|---|
| Trust Score | 94/100 | 96/100 |
| Spreads From | 0.7 pips | 0.4 pips |
| Avg EUR/USD Spread | 0.7 pips | 0.6 pips |
| Commission | $0 (spread only) | From $3/lot |
| Execution Speed | < 15ms | < 30ms |
| Max Leverage | 1:500 | 1:200 |
| Minimum Deposit | $0 | $0 |
| Instruments | 12,000+ | 71,000+ |
| Account Types | CFD Account, Spread Betting Account | Classic, Platinum, VIP |
| Platforms | Next Generation, MT4 | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor |
| Top Regulators | FCA, ASIC, BaFin, MAS | DFSA, FCA, ASIC, MAS, JFSA |
| Withdrawal Speed | 1-3 business days | 1-3 business days |
| Inactivity Fee | $10/month after 12 months | $0 (No inactivity fee) |
| Customer Support | 24/5 Live Chat, Email, Phone | 24/5 Live Chat, Email, Phone |
Which Broker Should You Choose?
Choose CMC Markets if...
- ✓You want to start with a very low minimum deposit
- ✓You need access to a massive range of instruments
- ✓Maximum regulatory protection is your top priority
Choose Saxo Bank if...
- ✓You want to start with a very low minimum deposit
- ✓You need access to a massive range of instruments
- ✓Maximum regulatory protection is your top priority
CMC Markets Pros & Cons
Pros
- ✓ Proprietary Next Generation platform with 115+ technical indicators and pattern recognition
- ✓ 12,000+ instruments including niche indices and treasuries
- ✓ Tax-free spread betting available for UK/Ireland clients
- ✓ Listed on London Stock Exchange (CMCX) — full transparency
- ✓ No minimum deposit requirement
Cons
- × Spreads are wider than raw/ECN competitors on forex
- × No cTrader or MT5 support
- × Limited educational content compared to XM or eToro
- × No copy/social trading features
Saxo Bank Pros & Cons
Pros
- ✓ 71,000+ instruments — one of the widest product ranges globally
- ✓ Regulated by 15+ Tier-1 authorities including FCA, ASIC, MAS, JFSA
- ✓ Award-winning SaxoTraderGO and SaxoTraderPRO platforms
- ✓ Exceptional research and analysis tools with integrated third-party content
- ✓ Listed on Nasdaq Copenhagen — fully transparent financials
Cons
- × Higher spreads on Classic account compared to ECN brokers
- × No MetaTrader 4 or MetaTrader 5 support
- × Limited payment options — no e-wallets like Skrill or Neteller
- × Customer support can be slow during off-peak hours
The Bottom Line: CMC Markets vs Saxo Bank
- ✓ Advanced Charting
- ✓ Spread Betting (UK)
- ✓ Pattern Recognition
- ✓ UK & European Traders
- ✓ Technical Analysis
- ✓ No minimum deposit
- ✓ Multi-Asset Investing
- ✓ Institutional Research
- ✓ Premium Platform
- ✓ Global Market Access
- ✓ Stock & ETF Ownership
- ✓ Tighter EUR/USD spreads (0.6 pips)
- ✓ No minimum deposit
Both brokers are featured in our top broker rankings. Your choice should depend on your specific trading style, preferred platform, and geographical location.
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