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Head to head

FP Markets vs Saxo

FP Markets is licensed by ASIC in Australia, CySEC in the European Union and CMA in Kenya, and also has an offshore registration. 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 $100 at FP Markets and $0 at Saxo. Both offer negative balance protection and segregated client money.

Facts last checked: FP Markets on 20 October 2026, Saxo on 20 October 2026.

FP Markets 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
FP MarketsStrictly regulatedRead the profile
SaxoStrictly regulatedRead the profile
Comparing
FP MarketsRaw account · Australia
SaxoDenmark / European Union

Overview

Founded
2005
Not yet checked
Headquarters
Sydney, Australia
Hellerup, Denmark
Official websites
  • fpmarkets.com
  • fpmarkets.eu
  • fpmarkets.co.ke
  • home.saxo
  • www.home.saxo
  • bgsaxo.it
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
First Prudential Markets Pty Ltd
Saxo Bank A/S
Regulator
ASIC
Australia
Danish FSA (Finanstilsynet)
Denmark / European Union
Regulation level
Strictly regulated
Strictly regulated
Licence number
AFSL 286354
Check the register
Bank licence 1149
Check the register
Clients this company serves
Australian residents
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
  • ASIC (Australia)
  • CySEC (European Union)
  • CMA (Kenya)
  • FSA Seychelles (Seychelles)
  • Danish FSA (Finanstilsynet) (Denmark / European Union)
  • FCA (United Kingdom)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • CONSOB (Italy)
  • JFSA (Japan)
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
ICF up to €20,000 (Cyprus company); none for the Australian, Seychelles or Saint Lucia companies
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
$79$7.9 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$7.9
No accounts listed
Spread from
0.0 pips
No accounts listed
Typical EUR/USD spread
0.2 pips
No accounts listed
Commission per lot (round turn)
$6
No accounts listed
Typical GBP/USD spread
0.5 pips
Not yet checked
Typical USD/JPY spread
0.6 pips
Not yet checked
Typical XAU/USD spread
10 cents
Not yet checked
Swap-free account
Yes
Not yet checked

Leverage and margin

Maximum retail leverage
1:30 on major pairs (Australia, EU); up to 1:500 at the international companies
1:30 on major pairs (UK, EU)
Retail leverage by asset class
  • Major currency pairs (Australia: 1:30
  • Currency pairs (international companies): up to 1:500
  • EUR/USD (3.33% initial margin, UK): 1:30
  • GBP/USD and USD/JPY (4% initial margin, UK): 1:25
Margin call level
Not yet checked
Not yet checked
Stop-out level
Not yet checked
50% (UK and EU retail close-out rule)

Account

Minimum deposit (this account)
$100
No accounts listed
Base currencies
Not yet checked
No accounts listed
Execution
Raw spread plus US$3 commission per lot each way (MT4, MT5, cTrader, TradingView)
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • TradingView
  • WebTrader
  • SaxoTraderGO
  • SaxoTraderPRO
  • SaxoInvestor
  • Mobile app
  • TradingView
Markets
70+ currency pairs, metals, indices, commodities, share CFDs and crypto 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
  • Bank wire
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Crypto
  • Broker-to-broker transfer
  • Bank transfer
Withdrawal fee
Not yet checked
Not yet checked
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
Not yet checked
24-hour support while markets are open; relationship managers for larger clients

Our notes

Strengths
  • Licensed by ASIC and CySEC, with retail client money held separately from company funds
  • Publishes average spreads per account (EUR/USD 1.29 pips Standard, 0.19 pips Raw)
  • Wide platform choice, including cTrader and TradingView
  • 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
  • The international website is operated by FP Markets Ltd, a Saint Lucia company (registration 2025-00853) that holds no financial licence; check which company your client agreement names.
  • International clients may be placed with the Seychelles company (offshore tier), with leverage up to 1:500 and no compensation scheme
  • Says FP Markets (Pty) Ltd is an FSCA-authorised financial services provider (FSP 50926); we could not confirm it on the FSCA register on 2026-10-20 because the register could not be reached.
  • 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:

  • FP Markets: Derivative products are highly leveraged, carry a high level of risk and may not be appropriate for all investors. The legal documents should be considered before entering into transactions with us.
  • 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.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

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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