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Saxo Bank vs Pepperstone : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Saxo Bank
Pepperstone
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
ECN broker
Years of Existence / Established Year
1992
2010
Customer Base / Number of Accounts
1 million+ clients
400,000 traders
Regulation & Security
Regulations (governing bodies)
FSA, FCA, MAS, JFSA, SFC, ASIC, DFSA, FINMA, MiFID
FCA, ASIC, DFSA, CySEC, CMA, BaFin, and SCB
Awards Won (count for the last 2 years)
Best Prime-of-Prime Broker 2024, Best Trading Platform 2024, Best Forex Broker 2024, Best CFD Broker 2023 and Best DMA/Professional Trading Account 2023
2024 Forex Broker of the Year by BrokerWahl.de, TradingView Social Champion 2023
Security Measures
Danish Depositor and Investor Guarantee Scheme DGS upto EUR 100,000 per depositor
FSCS
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
Yes
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
over 71,000 financial instruments including Turbos
1200+ trading assets including shares, currencies indices
Currency Pairs
Yes
Yes
Commodities
Yes
Yes
Indices
No
Yes
Cryptocurrencies
Yes
Yes
CFDs
Yes
Yes
ETFs
Yes
Yes
Stocks
Yes
No
Options
Yes
No
Futures
Yes
No
Bonds
Yes
No
Mutual Funds
Yes
No
Fractional Shares
Exchange Traded Notes (ETNs)
No
No
Precious Metals
No
No
Real Estate Investment Trusts (REITs)
No
No
Equities
No
No
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
Yes
MT5
No
Yes
cTrader
No
Yes
Social Trading
Yes
Copy Trading
Yes
Yes
Other Trading Platforms (proprietary, etc.)
Saxo investor, SaxoTrader GO, SaxoTrader PRO
Pepperstone proprietary platform
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Saxo account, Joint account, Corporate account, Professional account
Standard and Razor account
Demo Account (Yes/No)
Yes
Yes
Islamic Accounts (Yes/No)
No
Yes
Minimum Deposit
$0
$0
Leverage Available
1:50-1:100
1:20 to 1:500
Trade Limit (maximum per trade)
Depends on the assets class
100 lots trading size
Commission (per account type)
$0
Razor account - $3, Standard account -$0
Best Suited For (e.g., beginners, experienced traders)
Beginners to experienced traders
Beginner to experienced traders
Deposit & Withdrawal Options
Deposit Methods
VAN bank transfer, Bank transfer, Telegraphic transfer, Credit/ debit card
Credit/debit card, Bank transfer, e-wallets, Union pay, USDT
Withdrawal Methods
Telegraphic Transfer, MEPS
Credit/debit card, Bank transfer, e-wallets, Union pay, USDT
Other E-Wallets Supported
No
Neteller,skrill, PayPal
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Saxo Academy Trading Education, Market Analysis and Insights, Webinars, Trading Strategies and Ideas, Saxo TV Market News and Analysis
Trading Education Online Courses, Market Analysis and Insights, Webinars, Trading Guides and eBooks, Video Tutorials, The Daily Fix Market News and Analysis, Pepperstone Blog Trading Insights
Fees & Commissions
Trading-Related Fees
Stocks - $1, ETFs-$1, Bonds- 0.05%, Mutual funds- $0, Spread on Major forex pairs- from 0.7 to 0.9 pips
Spread-1.2 pips
Spread (typical, fixed, variable)
Variable
Variable
Per Lot Fees
NA
Razor account: $3.50 per lot, Raw account: $7 per lot, cTrader:$6 round trip per unit, TradingView: $7 roundtrip per unit
Options Contract Fees
$0.75
NA
Futures Contract Fees
$1
NA
Markup Fees on Spread
NA
1 pip on FX pairs
Guaranteed Stop Loss Fees
NA
Charges apply
Maximum Leverage
1:1000
1:500
Non-Trading Fees
Dormant Fees
$0
$0
Subscription Fees (for premium features, data feeds)
100 EUR per ISIN
NA
Advisory Fees
NA
NA
Swap Fees (Overnight Financing)
Yes
Yes
Statement or Document Fee
NA
NA
Account Opening Fee
NA
NA
Account Maintenance Fee
NA
NA
Deposit Fee
Plus or minus 0.25%
$0
Currency Conversion Fee
$0
Razor Account- $29.36, Standard Account - $48.12, Swap-free Account $58.78
Withdrawal Fee
$0 bank fees may apply
$0
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
No
No
Trading Hours
Trading Hours (for each asset class if applicable)
Varies by instrument
VIX 00:01 - 23:59 (Opens Monday 01:00; Friday close 23:55), NAS100 01:00 - 23:15, 23:30 - 23:59 (Closes Friday 23:55), HK Share CFDs 4:30-7:00, 8:00-11:00, US Share CFDs 16:31 - 22:55
Customer Support
Support Hours (e.g., 24/7, weekdays only)
24/5
24/7
Customer Support Methods (phone, email, live chat)
Phone: +33 1 78 94 56 40, +44 (0)207 151 2100, +39 02 3668 2929, +31 (0)20 225 5900, +41 58 317 95 00. E-mail: [email protected], Live chat
Phone: +1786 628 1209, Email: [email protected], Live chat
Support Languages
24+
8+
Additional Information
Headquarters Location
Copenhagen, Denmark
Melbourne, Australia
Complaints (for crypto brokers)
No
No
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