Quick Comparison
| Feature | OANDA | Saxo Bank |
|---|---|---|
| Rating | ⭐ 4.6/5 | ⭐ 4.5/5 |
| EUR/USD all-in | 0.98 pips all-in | — |
| Regulation | CFTC, NFA, FCA, ASIC | FCA, FINMA |
| Min. Deposit | $0 | $10000 |
| Platforms | OANDA Platform, MetaTrader 4, TradingView | SaxoTrader, MetaTrader 4, TradingView |
Detailed Analysis
OANDA and Saxo Bank are both reviewed on PipsPal. This side-by-side looks at how they compare across the four factors that actually affect trading outcomes: spreads and trading costs, regulation and safety, platform choice, and minimum deposit requirements.
Spreads & Trading Costs
We have measured OANDA at 0.98 pips all-in on EUR/USD. We do not yet have an independent measurement for Saxo Bank, so we make no cost comparison here rather than repeating the figure it advertises.
OANDA offers From 0.1 pips, while Saxo Bank offers From 0.2 pips. Both use standard-account pricing with costs built into the spread rather than separate commissions. Direct spread comparison on EUR/USD during liquid sessions is the cleanest like-for-like measure — the numbers above reflect typical conditions, not minimum advertised. During news releases or low-liquidity periods, spreads widen on both, and the relative difference may narrow or flip.
Regulation & Safety
OANDA is regulated by CFTC, NFA, FCA, ASIC. Saxo Bank holds licences under FCA, FINMA. OANDA's regulatory footprint is noticeably broader, which matters most for traders who want jurisdictional optionality or are based in regions where one of these regulators operates directly. Broader tier-1 coverage typically means stronger compensation schemes, more rigorous capital requirements, and more established complaint resolution pathways.
Trading Platforms
OANDA supports OANDA Platform, MetaTrader 4, TradingView. Saxo Bank supports SaxoTrader, MetaTrader 4, TradingView. Both support MetaTrader, but only OANDA integrates TradingView for direct-from-chart execution. For traders who already use TradingView as their primary analysis environment, this integration saves the multi-window workflow of analysing on TradingView and executing on MT. If you don't use TradingView, this difference doesn't matter.
Minimum Deposit
OANDA requires a $0 minimum deposit, while Saxo Bank requires $10000. OANDA offers a significantly lower barrier to entry at $0, while Saxo Bank's higher $10000 minimum suggests it targets traders committing meaningful capital from the start. For testing the broker with a small deposit, OANDA is the clear choice. For a trader with sufficient starting capital, the minimum deposit difference is irrelevant — trading conditions and regulation matter more.
Our Verdict
The Bottom Line
OANDA edges ahead on broader tier-1 regulatory coverage, lower barrier to entry (no minimum vs Saxo Bank's $10000). Saxo Bank leads on both proprietary and MetaTrader options. For active forex traders who prioritise cost and speed, the choice tilts on which of those advantages matters most to your strategy. For traders still deciding, the PipsPal AI matching tool weighs all these factors against your specific profile and returns a personalised recommendation.
Read Full Reviews
OANDA
Full in-depth review with detailed analysis of features, fees, and trading conditions.
Read OANDA Review →Saxo Bank
Complete review covering regulation, platforms, costs, and our expert verdict.
Read Saxo Bank Review →Not Sure Which Broker Is Right for You?
Our AI analyses your trading profile to find the best match from every broker in our database — it might be one of these, or something different entirely.