Similar EU Brokers · April 2026

Best Alternatives to Saxo Bank in 2026

Five EU-regulated forex brokers with overall scores closest to Saxo Bank. Compare before you commit.

Quick Answer

The top 3 alternatives to Saxo Bank are CMC Markets, Interactive Brokers, and IG.

All three are EU-regulated brokers with overall scores within 0.5 points of Saxo Bank. See the full comparison below.

ESMA Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Why people look for Saxo Bank alternatives

Traders typically evaluate alternatives to Saxo Bank for one or more of the following reasons:

Lower total trading cost — tighter spreads or cheaper commissions, especially for high-volume traders.
Stronger regulatory tier — moving to a broker with BaFin or FCA oversight for extra peace of mind.
Different platform needs — access to cTrader, TradingView, or a proprietary mobile app that Saxo Bank doesn't offer.
Wider instrument universe — more stocks, indices, commodities, or crypto CFDs.
Better educational resources — structured courses, webinars, and beginner-friendly content.
Improved customer support — faster response times, multilingual staff, or extended coverage hours.

Top 5 Alternatives to Saxo Bank

Ranked by similarity to Saxo Bank's overall score.

1
CMC Markets
8.9/10
CMC Markets is a FTSE 250-listed broker with 35+ years of experience, offering 12,000+ instruments and an award-winning proprietary trading platform.
Why consider CMC Markets: lower overall fees
Min deposit
None
EUR/USD
0.7 pips average
Regulator
BaFin
Platforms
2
Read Review Compare to Saxo Bank
2
Interactive Brokers
9.1/10
Interactive Brokers is a NASDAQ-listed professional brokerage offering the lowest margin rates, 150+ global markets, and the most comprehensive regulatory coverage in the industry.
Why consider Interactive Brokers: lower overall fees, stronger regulation, faster execution
Min deposit
None
EUR/USD
0.1 pips
Regulator
SEC
Platforms
4
Read Review Compare to Saxo Bank
3
IG
9.2/10
IG is the world's oldest and most trusted retail broker, offering 17,000+ instruments, a BaFin-regulated EU entity, and an award-winning proprietary platform.
Why consider IG: lower overall fees, stronger regulation, faster execution
Min deposit
None
EUR/USD
0.6 pips average
Regulator
BaFin
Platforms
5
Read Review Compare to Saxo Bank
4
Exness
8.8/10
Exness is a CySEC-regulated broker with ultra-tight pricing, instant withdrawals, and one of the highest monthly trading volumes in the industry ($4T+).
Why consider Exness: lower overall fees, faster execution
Min deposit
$10
EUR/USD
0.0 pips
Regulator
CySEC
Platforms
4
Read Review Compare to Saxo Bank
5
XTB
8.8/10
XTB is a publicly listed Polish broker with an award-winning xStation platform, commission-free stock investing, and some of the best educational content in Europe.
Why consider XTB: lower overall fees, better education
Min deposit
None
EUR/USD
0.1 pips
Regulator
KNF
Platforms
2
Read Review Compare to Saxo Bank

Full Comparison Table

Saxo Bank alongside the top 5 alternatives.

Broker	Score	Fees	Regulation	Min Deposit	EUR/USD
Saxo Bank (current)	9.0	7.8	9.7	None	0.6 pips
CMC Markets	8.9	8.5	9.5	None	0.7 pips average
Interactive Brokers	9.1	9.0	9.9	None	0.1 pips
IG	9.2	8.8	9.8	None	0.6 pips average
Exness	8.8	9.3	8.8	$10	0.0 pips
XTB	8.8	8.5	9.3	None	0.1 pips

Frequently Asked Questions

What are the best alternatives to Saxo Bank in 2026?

The top 3 alternatives to Saxo Bank in 2026 are CMC Markets, Interactive Brokers, IG. All are EU-regulated forex brokers with overall scores within 0.5 points of Saxo Bank across fees, platforms, regulation, and execution.

Why might I look for a Saxo Bank alternative?

Traders commonly seek alternatives to Saxo Bank for reasons such as wanting lower spreads, stronger regulation, a wider platform selection (like cTrader or TradingView), better mobile apps, more instruments, or region-specific features. Comparing against 5 similar brokers helps you find the best fit for your personal trading style.

Is Saxo Bank regulated in the EU?

Yes, Saxo Bank is regulated by Danish FSA (Denmark), FCA (UK), ASIC (Australia) and is fully ESMA-compliant. All alternatives listed on this page are also EU-regulated and offer negative balance protection for retail clients.

Which Saxo Bank alternative is cheapest?

Among the top 5 alternatives to Saxo Bank, the broker with the highest fees score (cheapest) is Exness. Always compare spreads, commissions, swaps, and withdrawal fees together rather than looking at spread alone.

Can I open an account with multiple brokers?

Yes. Many active traders maintain accounts with two or more EU-regulated brokers simultaneously to diversify counterparty risk, access different platforms, or take advantage of different pricing models. There is no regulatory restriction on the number of retail broker accounts you can hold within the EU.

Are the listed alternatives also EU-regulated?

Yes, every alternative listed on this page is regulated by at least one recognised EU authority (CySEC, BaFin, FCA, AMF, CONSOB, CNMV, or KNF). They all comply with ESMA rules on leverage, negative balance protection, and client fund segregation.

Still considering Saxo Bank?

Read our full Saxo Bank review or visit the broker to see the latest offer.

Read Saxo Bank Review Visit Saxo Bank

CFD Risk Warning

This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.