FXOpen
ECN legacy broker ★ ★ ★ ★★ ★ 3.8
Needs fresh English review before stronger recommendation
FXOpen vs Saxo Bank
A side-by-side look at FXOpen and Saxo Bank — score, fees, platforms and who each one actually fits best.
Saxo Bank
Prestige multi-asset bank broker ★ ★ ★ ★ ★ 3.2
Licensed bank in 7 Tier-1 jurisdictions, Trust Score 99 from ForexBrokers.com. Premium positioning — verify affiliate terms before promoting, likely a higher bar for approval.
Quick verdict
FXOpen scores higher overall (3.8 vs 3.2), but a higher score doesn't automatically mean it's the right pick for you.
FXOpen is the stronger fit for eCN-style forex trading and older MetaTrader workflows, while Saxo Bank is built more around high-net-worth traders, multi-asset portfolios, premium research.
Regulation: FXOpen — FCA, CySEC (194/13) - operating since 2005; ASIC licence discontinued 2024. Saxo Bank — Danish FSA, FCA and 5 more Tier-1 regulators.
Minimum deposit: FXOpen — Depends on account type. Saxo Bank — From $2,000, varies by account tier.
Side by side
FXOpenSaxo Bank
Best forECN-style forex trading and older MetaTrader workflowsHigh-net-worth traders, multi-asset portfolios, premium research
PlatformsMT4, MT5, TickTraderSaxoTraderGO, SaxoTraderPRO
RegulationFCA, CySEC (194/13) - operating since 2005; ASIC licence discontinued 2024Danish FSA, FCA and 5 more Tier-1 regulators
Minimum depositDepends on account typeFrom $2,000, varies by account tier
FXOpen strengths
- Long-running brand
- ECN positioning
- Existing affiliate tracking
Saxo Bank strengths
- Licensed bank, not just a broker
- #1 research (ForexBrokers.com award)
- 7 Tier-1 regulators
Which one should you pick?
Pick FXOpen if you're mainly after eCN-style forex trading and older MetaTrader workflows. It stands out for long-running brand and eCN positioning.
Pick Saxo Bank if you're mainly after high-net-worth traders, multi-asset portfolios, premium research. It stands out for licensed bank, not just a broker and #1 research (ForexBrokers.com award).
Common questions
FXOpen vs Saxo Bank FAQ
Is FXOpen better than Saxo Bank?
FXOpen scores higher in our rating (3.8 vs 3.2), but Saxo Bank may still be the better fit if you specifically need high-net-worth traders, multi-asset portfolios, premium research.
What's the difference in regulation between FXOpen and Saxo Bank?
FXOpen: FCA, CySEC (194/13) - operating since 2005; ASIC licence discontinued 2024. Saxo Bank: Danish FSA, FCA and 5 more Tier-1 regulators.