Saxo Bank vs XM
Head-to-head comparison of fees, platforms, regulation, and trading conditions to help you choose the right EU broker in 2026.
Quick Verdict
Saxo Bank scores higher overall at 9.0/10 vs 8.7/10.
Score Comparison
Trading Conditions
| Condition | Saxo Bank | XM |
|---|---|---|
| Min Deposit | None | $5 |
| EUR/USD Spread | 0.6 pips (Platinum), 0.8 pips (Classic) | 0.6 pips (Ultra Low), 1.6 pips (Standard) |
| Commission | Varies by account tier | None |
| Leverage (Retail) | 30:1 | 30:1 |
| Leverage (Pro) | 200:1 | 500:1 |
| Swap-Free | No | Yes |
| Withdrawal Fee | Free | Free |
Platform Comparison
Saxo Bank Platforms
- SaxoTraderGO
- SaxoTraderPRO
- SaxoInvestor
Classic, Platinum, VIP
XM Platforms
- MetaTrader 4
- MetaTrader 5
- XM App
Micro, Standard, Ultra Low, Shares
Regulation & Safety
Saxo Bank Regulation
Danish Guarantee Fund up to EUR 100,000
XM Regulation
ICF up to EUR 20,000
Overall Verdict
Saxo Bank takes the overall win with a score of 9.0 vs 8.7, winning 4 out of 7 individual categories compared to XM's 3.
In terms of costs, though XM edges ahead on fees. On the regulatory front, Saxo Bank and offers stronger regulatory protection.
Choose Saxo Bank if you prioritise its strengths in the categories where it leads. Choose XM if you value the specific areas where it scores higher, such as fees & costs, support, and more.
CFD 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.
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.