Saxo Markets won the “best CFD broker” in our 2023 and 2022 Awards as it offers the widest range of account types, market access and tradable assets.
Overall, Saxo Markets is the best CFD trading platform suitable for traders with experience who need access to a wide range of markets and order types.
When I tested the CFD platform with Saxo Markets, I traded CFDs and a few options. But, what makes Saxo Markets different though is how you can trade CFDs compared to other brokers. You can trade CFDs with direct market access (DMA) through the main trading platform or app. This means you can place OTC CFD orders directly on the exchange order book, getting better fills and better prices. You can also trade options as a CFD.
Saxo Markets is more of a professional CFD trading platform, so best suited to CFD traders who are graduating from a simple trading platform to something with more order types and support for higher-volume and sophisticated traders. The CFD trading platform is backed up with excellent support from personal dealers and experienced back-office staff, who cater for individual traders, professionals, and institutions like hedge funds and banks.
There is a huge amount of research data and analysis available on the trading platform that can help traders seek out trading opportunities and some very good post-trade analytics that will show you where you trade profitably and which markets you lose in, and therefore can potentially avoid.
Whilst Saxo Markets is one of the best CFD brokers because of their market range, regulation, customer service and trading platform, they do let themselves down a little bit when it comes to market rates.
This is both a good and a bad thing.
Firstly, Saxo is a responsible broker and like all UK FCA regulated CFD brokers margin rates are capped for retail traders. This is to protect them from overleverage.
But, in the UK and Europe, you are able to upgrade your account to a “professional trading account” where you get higher leverage and lower margin rates. But, as Saxo is quite a conservative bank for CFD trading you cannot get as excessive margin with them, even if you upgrade to professional status.
Compare Saxo to other CFD brokers and CFD trading platforms below:
| CFD Broker | Markets Available | Minimum Deposit | GMG Rating | More Info | Risk Warning |
|---|---|---|---|---|---|
 | 12,000 | £100 | See Platform | 71% of retail investor accounts lose money when trading CFDs with this provider | |
 | 1,200 | £1 | See Platform | 75.3% of retail investor accounts lose money when trading CFDs with this provider | |
 | 10,000 | £1 | See Platform | 64% of retail investor accounts lose money when trading CFDs with this provider | |
 | 2,000 | £100 | See Platform | 80% of retail investor accounts lose money when trading CFDs with this provider. | |
 | 17,000 | £250 | See Platform | 70% of retail investor accounts lose money when trading CFDs and spread bets with this provider. | |
 | 9,000 | £1 | See Platform | 65% of retail investor accounts lose money when trading CFDs with this provider | |
 | 2,976 | $50 | See Platform | 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money | |
 | 7,000 | £1 | See Platform | 62.5% of retail investor accounts lose money when trading CFDs with this provider | |
 | 12,000 | £1 | See Platform | 68% of retail investor accounts lose money when trading CFDs with this provider | |
 | 5,000 | £1 | See Platform | 69% of retail investor accounts lose money when trading CFDs with this provider. | |
 | 2,100 | £1 | See Platform | 76% of retail investor accounts lose money when trading CFDs with this provider | |
 | 3,981 | £10 | See Platform | 66.95% of retail investor accounts lose money when trading CFDs with this provider |
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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