Which trading platform is best, CMC Markets or Saxo Markets?

CMC Markets is objectively a better trading platform than Saxo Markets when compared in our broker data matrix. CMC Markets has better customer reviews, has lower trading costs, is more established offers professional customers better leverage terms and provides more added value. Compare the features, prices, tools and platforms of these two top trading platforms, CMC Markets and Saxo Markets.

CMC Markets Key Features


Visit CMC Markets
67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
CMC Markets Reviews
Total Markets9300
Forex Pairs71
Commodities33
Indices22
UK Stocks629
US Stocks3441
Cryptocurrencies13
Broker specifics
2019 Revenue£130.800,000
Number Active Clients53,308
Minimum Deposit£100
Inactivity Fee£10 per month
Founded1989
FX Retails SpreadsCMC Markets
EUR/USD Euro vs US Dollar0.7
GBP/USD British pound vs US dollar0.9
USD/JPY US Dollar vs Japanese Yen0.7
EUR/GBP Euro vs British Pound0.11
AUD/USD Australian Dollar vs US Dollar0.14
USD/CAD US Dollar vs Canadian Dollar1.7
USD/CHF US Dollar vs Swiss Franc1
NZD/USD NZ Dollar vs US Dollar0.18
EUR/JPY Euro vs Japanese Yen0.15
EUR/AUD Euro vs Australian Dollar0.16
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CAD US Dollar vs Canadian Dollar30:01:00
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.3
Brent crude (oil)0.3
Natural Gas0.8
Gold0.3
Silver0.25
Copper (comex)0.3
Corn0.9
Wheat0.8
Soyabeans1.5
Gasoline RBOB80
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeans10:01
Gasoline RBOB10:01
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)2.4
Standard & Poor’s 500 (S&P 500)0.5
Nasdaq (Composite and Nasdaq 100)2
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)1
DAX (Germany 30)1
Euro Stoxx 50 (Euro 50)1.6
Japan 225 (Nikkei 225)15
Hong Kong (Hang Seng Index)5
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.10%
US Stock Spreads$0.02 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )0.00%
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry
Indices
UK Stocksinterbank rate +/-0.0082%
US Stocksinterbank rate +/-0.0082%
Compare AlternativesCMC Markets Versus IG
CMC Markets Versus Pepperstone
CMC Markets Versus City Index
CMC Markets Versus Spreadex
CMC Markets Versus Saxo Markets

Saxo Markets Key Features

saxo capital makets review
Visit Saxo
62% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Saxo Markets Reviews
Total Markets19000
Forex Pairs57
Commodities19
Indices23
UK Stocks?
US Stocks?
Broker specifics
2019 Revenue£316,000,000
Number Active Clients525,000
Minimum Deposit£500
Inactivity Fee£25 per quarter
Founded1992
FX Retails SpreadsSaxo Capital Markets
EUR/USD Euro vs US Dollar0.6
GBP/USD British pound vs US dollar0.7
USD/JPY US Dollar vs Japanese Yen0.6
EUR/GBP Euro vs British Pound0.7
AUD/USD Australian Dollar vs US Dollar0.6
USD/CAD US Dollar vs Canadian Dollar0.6
USD/CHF US Dollar vs Swiss Franc0.7
NZD/USD NZ Dollar vs US Dollar0.11
EUR/JPY Euro vs Japanese Yen0.9
EUR/AUD Euro vs Australian Dollar0.9
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.5
Brent crude (oil)0.5
Natural Gas0.17
Gold0.6
Silver0.35
Copper (comex)0.55
Corn1.25
Wheat2.25
Soyabeansnot quoted
Gasoline RBOB25
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeansnot quoted
Gasoline RBOB10:01
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)3
Standard & Poor’s 500 (S&P 500)0.5
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)2
DAX (Germany 30)1
Euro Stoxx 50 (Euro 50)2
Japan 225 (Nikkei 225)12
Hong Kong (Hang Seng Index)12
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.05%
US Stock Spreads$0.01 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )0.75%
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry +150bp
IndicesInterbank rates +2.50% or -3.0%
UK StocksInterbank rates +3.50% or -3.0%
US StocksInterbank rates +3.50% or -3.0%
Compare AlternativesSaxo Markets Versus IG
Saxo Markets Versus CMC Markets
Saxo Markets Versus Pepperstone
Saxo Markets Versus City Index
Saxo Markets Versus Spreadex

Which trading platform has the best customer reviews?

CMC Markets has better customer reviews than Saxo Markets. CMC Markets score of 3.975 in our 7 point multi-factor ratings system, Saxo Capital Markets scores just 3.625 under this metric.

CMC Markets also outscores Saxo Capital Markets in our Good Money Guide reviews with a rating of 4.50 points compared to Saxo Capitals' score of 4.0 points.

However, Saxo Capital Markets has a higher ranking in app store reviews, with scores of 4.4 out of 5 in the Apple app store, and 4.1 out of 5 in Google Play, compared to CMC Markets scores of 4.10 and 3.10 out of a possible 5.0.

Find out why customer reviews are important

Which trading platform offers the most markets?

Saxo Markets offers more markets with a total of 19000 available instruments versus CMC Markets 9300. However, CMC Markets does offer more FX pairs 71, and commodities 33 compared to Saxo Capital who offer 57 FX pairs and 19 commodities to their clients.

Find out why market access is important

Which trading platform offers the most platforms?

Saxo Markets offers more trading platforms compared to CMC Markets. Saxo Markets has two in-house trading systems SaxoTraderGo and SaxoTraderPRO. In addition to which it offers Metaquotes MT4 and connectivity to third-party apps that you can trade from, such as TradingView and Multicharts. CMC Markets offers its own in-house platform in both desktop and mobile versions and MT4.

Find out why trading platforms are important

Which trading platform offers the most different types of account?

Saxo Markets offers more account types than CMC Markest. Saxo Markets offers CFD and margin trading accounts as well as, investing SIPP and ISA accounts. CMC Markets offers Spread Betting and CFD trading accounts but does not offer savings and Investment accounts to its UK clients. Both brokerages offer accounts for retail and professional clients.

Find out why account types are important

Which trading platform is a more established business?

CMC Markets is more established than Saxo Markets having been formed in 1989. Saxo was founded in Denmark in 1992 and set up a permanent base in London’s Canary Wharf in 2006.

Find out why a trading platforms history is important

Which trading platform has the lowest trading costs?

CMC Markets has lower FX spreads with an average in the 10 FX pairs we sampled of 0.574 compared to Saxo Markets' average spread of 0.641. CMC markets is also cheaper in terms of commodity spreads in the majority of instruments within our matrix, that both brokers trade.

CMC Markets also have the tightest spreads when it comes to index trading, with an average score of 3.28 points versus Saxo Markets' score of 3.83 points in the instruments we sampled. Saxo Capital Markets has tighter average spreads in commodities markets, however, compared to those charged at CMC Markets. However, as Saxo Markets offers a rebate based on trading volume, active traders may be able to negotiate lower trading costs through Saxo Markets.

Find out why trading costs are important

Which trading platform offers the most margin?

CMC Markets offers higher rates of leverage to professional customers than Saxo Markets, with ratios of up to 500:1 compared to the maximum forex leverage of 66:1 at Saxo Markets. For institutional traders Saxo Markets offers margin inline with exchange span overnight and intraday leverage levels.

Margins for retail traders are set at the FCA/ESMA thresholds at both CMC Markets and Saxo Markets, these are the maximum leverage ratios permitted under the current UK and European legislation.

Find out why leverage and margin are important

Which trading platform offers the lowest overnight financing rates?

CMC Markets has lower overnight financing costs than Saxo Markets in the instruments where a direct comparison is possible. For example on UK equity positions, CMC Markets charges Libor +/-2.93% compared to Saxo’s funding charge of Libor +3.50% on longs and -3.0% on shorts, the same differentials and funding rates apply in US equities as well.

Find out why overnight financing rates are important

Which trading platform offers the most added value?

CMC Markets offers more added value with 6 points in our scoring matrix compared to Saxo Markets’ 5 points. The difference between the two firms is the positioning and sentiment tools that CMC Markets provides its customers with. Both brokers offer a personal service alongside education and research.

Education allows clients to learn about the markets, their terminology and trading strategies. Whilst research and analysis keeps clients up to date with market developments and thinking as well as potential trading opportunities.

Find out why added value is important

About Author

Other Trading Platform Reviews

BrokerExpert & User Reviews

IG

IG Reviews See Offer
Your capital is at risk. 70% of retail CFD accounts lose money

CMC Markets

CMC Markets Reviews See Offer
67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

Pepperstone

Pepperstone Reviews See Offer
79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider

City Index

City Index Reviews See Offer
74% of retail investor accounts lose money when trading CFDs with this provider

ETX Capital

ETX Capital Reviews See Offer
69% of retail investors lose money when trading spread bets and CFDs with this provider

Spreadex Financials

Spreadex

Spreadex Reviews See Offer
69% of retail investors lose money when trading spread bets and CFDs with this provider

Saxo Markets

Saxo Markets Reviews See Offer
70% of retail investor accounts lose money when trading CFDs with this provider