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Head to head

Alpari vs Saxo

Alpari has no licence we could confirm on a regulator's register. Saxo is licensed by Danish FSA (Finanstilsynet) in Denmark / European Union, FCA in the United Kingdom, FINMA in Switzerland, MAS in Singapore, CONSOB in Italy and JFSA in Japan. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $30 at Alpari and $0 at Saxo. Only Saxo offers negative balance protection and segregated client money.

Facts last checked: Alpari on 20 October 2026, Saxo on 20 October 2026.

Alpari profileSaxo profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
AlpariRead the profile
SaxoStrictly regulatedRead the profile
Comparing
Alpari
SaxoDenmark / European Union

Overview

Founded
1998
Not yet checked
Headquarters
Fomboni, Mohéli, Comoros
Hellerup, Denmark
Official websites
  • alpari.com
  • home.saxo
  • www.home.saxo
  • bgsaxo.it
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
No licence listed
Saxo Bank A/S
Regulator
No licence listed
Danish FSA (Finanstilsynet)
Denmark / European Union
Regulation level
No licence listed
Strictly regulated
Licence number
No licence listed
Bank licence 1149
Check the register
Clients this company serves
No licence listed
Clients in Denmark and other countries not served by a local Saxo subsidiary, including those served through its French, Dutch, Belgian and Czech branches
All licences held
None listed
  • Danish FSA (Finanstilsynet) (Denmark / European Union)
  • FCA (United Kingdom)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • CONSOB (Italy)
  • JFSA (Japan)
Segregated client money
No
Yes
Negative balance protection
No
Yes
Compensation scheme
None
Danish Guarantee Fund: cash deposits up to €100,000 and investor cover up to €20,000 (Saxo Bank A/S); FSCS up to £85,000 (UK); local schemes for other subsidiaries

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Not yet checked

Leverage and margin

Maximum retail leverage
Up to 1:3000 (ECN and Pro ECN); 1:1000 on Standard; 1:500 on Micro
1:30 on major pairs (UK, EU)
Retail leverage by asset class
  • Micro account: Up to 1:500
  • Standard account: Up to 1:1000
  • ECN and Pro ECN accounts: Up to 1:3000 (floating)
  • EUR/USD (3.33% initial margin, UK): 1:30
  • GBP/USD and USD/JPY (4% initial margin, UK): 1:25
Margin call level
50% on Micro and Standard; 80% on ECN and Pro ECN
Not yet checked
Stop-out level
20% on Micro and Standard; 50% on ECN and Pro ECN
50% (UK and EU retail close-out rule)

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • Alpari trading app
  • SaxoTraderGO
  • SaxoTraderPRO
  • SaxoInvestor
  • Mobile app
  • TradingView
Markets
Forex, metals, indices, commodities, cryptocurrencies, stocks, ETF, futures and crosses CFDs
185+ FX pairs, FX options, CFDs, 23,000+ stocks, 7,400+ ETFs, bonds, futures and listed options
Demo account
Yes
Yes
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Debit or credit card
  • Bank wire
  • E-wallet
  • Cryptocurrency
  • Local payment methods
  • Bank transfer
Withdrawal fee
Varies by method; the fee is taken from the amount withdrawn
Not yet checked
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
Live chat, chatbot, messengers and phone helpline
24-hour support while markets are open; relationship managers for larger clients

Our notes

Strengths
  • Four account types, from a $30 Micro account to a raw-spread Pro ECN account
  • Commission-free Micro, Standard and ECN accounts
  • MetaTrader 4 and 5, PAMM investing and a demo account
  • Parent company is a Danish bank classed as systemically important, with bank licences in Denmark and Switzerland
  • Every listed company is authorised by a strict regulator
  • No minimum funding in the UK, and negative balance protection for retail clients
  • Forex, stocks, bonds, futures and options in one account
Watch out for
  • Says it holds Mwali International Services Authority (MISA) licence T2023236; we could not confirm it on MISA's register on 2026-10-20, because the register sits behind a bot check
  • No licence from a strict regulator; not available to UK or EU residents
  • We found no statement on its site about segregated client money or negative balance protection
  • Leverage up to 1:3000, and deposit bonuses that come with conditions
  • Saxo publishes minimum spreads, not typical spreads, and prices vary by account tier and country
  • No MetaTrader; trading runs on Saxo's own platforms or TradingView
  • BG SAXO SIM was checked on CONSOB's published list of registered SIMs (February 2025 edition); the live CONSOB register blocked our access on 2026-10-20

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Alpari: Before trading, you should ensure that you've undergone sufficient preparation and fully understand the risks involved in margin trading.
  • Saxo: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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