Home page -> Comparison -> Formax vs Saxo Markets | Broker Comparison

Title Formax vs Saxo Markets | Broker Comparison

Basic Information

Year Founded

First broker:

Second broker:

UK since 2006

Headquarters Location

First broker:

Second broker:

Denmark, UK subsidiary

Publicly Traded (Entity or Parent)

First broker:

Second broker:

YES

Regulated?

First broker:

Second broker:

YES

Primary Regulator

First broker:

Second broker:

FCA

Minimum Deposit

First broker:

Second broker:

$2000

Fixed Spreads?

First broker:

Second broker:

NO

Trading Type

First broker:

Second broker:

Dealing Desk, Mkt Mak, STP

Commissions on Trades

First broker:

Second broker:

YES

CFD Loss Rate

First broker:

Second broker:

72% loss rate on CFDs

Maximum Leverage

First broker:

Second broker:

1:30

Currency Pairs Offered

First broker:

Second broker:

182

General Average Rating - 3 scale

First broker:

Second broker:

1,95

Background

Value

Score

Value

Score

Year Founded

First broker:

Second broker:

UK since 2006

2,5

Headquarters location + Offices

First broker:

Second broker:

Denmark, UK subsidiary

2,0

Publicly traded?

First broker:

Second broker:

YES

3,0

Size Measure

First broker:

Second broker:

Annual Revs > $100 million

3,0

Summary Score

First broker:

Second broker:

2,63

Regulatory Compliance

Value

Score

Value

Score

Regulated or unregulated?

First broker:

Second broker:

YES

3,0

Primary regulator

First broker:

Second broker:

FCA

3,0

Multiple compliance

First broker:

Second broker:

ESMA

2,0

Safety of Deposits

First broker:

Second broker:

Very Secure

3,0

Summary Score

First broker:

Second broker:

2,75

Fees & Charges

Value

Score

Value

Score

Commissions, Fees & Charges

First broker:

Second broker:

Comm + spread on trades

1,0

General

First broker:

Second broker:

Confusing fee schedules

1,0

Spreads

First broker:

Second broker:

Competitive

1,0

Summary Score

First broker:

Second broker:

1,50

Investment Products

Value

Score

Value

Score

Stocks - Breadth

First broker:

Second broker:

Expansive - 35,000 items

3,0

Forex - Breadth

First broker:

Second broker:

Major, minor, and exotic

3,0

Other: Comm, Crypto, Spread, CFD?

First broker:

Second broker:

No Spread Betting, No Crypto

1,5

Summary Score

First broker:

Second broker:

2,50

Platform experience

Value

Score

Value

Score

MT4 or equivalant

First broker:

Second broker:

Limited access thru API

1,5

Proprietary options

First broker:

Second broker:

Advanced proprietary platform

2,0

Special Advanced?

First broker:

Second broker:

Mobile apps low security

1,5

Summary Score

First broker:

Second broker:

1,67

Special Features

Value

Score

Value

Score

Feature A

First broker:

Second broker:

Fee discounts at high levels

1,5

Feature B

First broker:

Second broker:

High acct open fee, inactivity fees

1,5

Feature C

First broker:

Second broker:

High-end institutional support

2,5

Summary Score

First broker:

Second broker:

1,83

Research Tools/Guidance

Value

Score

Value

Score

Financial Commentary

First broker:

Second broker:

Top line analyst commentary

2,5

Technical Anlaysis

First broker:

Second broker:

Archive search needs work

2,5

Other Guidance

First broker:

Second broker:

No social trading for small accts

1,0

Summary Score

First broker:

Second broker:

1,67

Education Support

Value

Score

Value

Score

Basic Library

First broker:

Second broker:

Not focused on small client

1,5

Webinars/Support

First broker:

Second broker:

Basic webinars

1,5

General

First broker:

Second broker:

72% loss rate on CFDs

1,5

Summary Score

First broker:

Second broker:

1,50

Customer Support

Value

Score

Value

Score

Live Chat, Web, Tele, Offices

First broker:

Second broker:

No live chat small accts

1,5

Responsiveness

First broker:

Second broker:

Better than Average

2,5

FAQs? Quality?

First broker:

Second broker:

Support delays

1,5

Summary Score

First broker:

Second broker:

1,83

General Pros & Cons

Value

Score

Value

Score

Pro #1

First broker:

Second broker:

Advanced charting tools

2,0

Pro #2

First broker:

Second broker:

News and research integrated

2,5

Pro #3

First broker:

Second broker:

Customizable Desktop

2,5

Con #1

First broker:

Second broker:

Lack of Security features

1,0

Con #2

First broker:

Second broker:

Focus on large clients

1,0

Con #3

First broker:

Second broker:

No Stop Loss guarantee

1,0

Summary Score

First broker:

Second broker:

1,67

General Average Rating - 3 scale

General Average Rating - 3 scale

First broker:

Second broker:

1,95

Broker links

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