Saxo Bank vs Tickmill

Detailed Analysis

Saxo Bank and Tickmill 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 Tickmill at 1.66 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.

Saxo Bank offers From 0.2 pips, while Tickmill 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

Saxo Bank is regulated by FCA, FINMA. Tickmill holds licences under FCA, CySEC, FSA. Both hold legitimate regulatory oversight, though the specific strength varies by jurisdiction. Check the broker's account-opening documentation to identify which legal entity will hold your funds — this determines which compensation scheme, if any, applies. For most retail traders, both brokers provide adequate protection; the question is whether you need specific regulator coverage (FCA for UK, ASIC for Australia, etc.) based on where you live.

Trading Platforms

Saxo Bank supports SaxoTrader, MetaTrader 4, TradingView. Tickmill supports MetaTrader 4, MetaTrader 5, WebTrader. Both support MetaTrader, but only Saxo Bank 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

Saxo Bank requires a $10000 minimum deposit, while Tickmill requires $100. Tickmill offers a significantly lower barrier to entry at $100, 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, Tickmill 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