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Firstrade vs Saxo Bank : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Firstrade
Saxo Bank
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
STP broker
Years of Existence / Established Year
1985
1992
Customer Base / Number of Accounts
1Million
1 million+ clients
Regulation & Security
Regulations (governing bodies)
FINRA, SEC
FSA, FCA, MAS, JFSA, SFC, ASIC, DFSA, FINMA, MiFID
Awards Won (count for the last 2 years)
Best Online Brokers, Best for Options Traders award.
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
Security Measures
SIPC
Danish Depositor and Investor Guarantee Scheme DGS upto EUR 100,000 per depositor
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
No
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
2200+ ETFs including CDs, Treasury bills, Notets and bonds, Primary market CDs, Zeros and strips and more
over 71,000 financial instruments including Turbos
Currency Pairs
No
Yes
Commodities
No
Yes
Indices
Yes- Through ETFs
No
Cryptocurrencies
Yes- Through ETFs
Yes
CFDs
No
Yes
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
Yes
Futures
No
Yes
Bonds
Yes
Yes
Mutual Funds
Yes
Yes
Fractional Shares
Exchange Traded Notes (ETNs)
Yes
No
Precious Metals
No
No
Real Estate Investment Trusts (REITs)
Yes
No
Equities
No
No
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
No
MT5
Yes
No
cTrader
No
No
Social Trading
Yes
Copy Trading
No
Yes
Other Trading Platforms (proprietary, etc.)
Firstrade platform
Saxo investor, SaxoTrader GO, SaxoTrader PRO
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Brokerage account- Individual, Joint, Custodial, Retirement- Retirement (Traditional IRA, Roth IRA, SEP IRA), Corporate, Trust, International, Education Planning, Business Planning
Saxo account, Joint account, Corporate account, Professional account
Demo Account (Yes/No)
No
Yes
Islamic Accounts (Yes/No)
No
No
Minimum Deposit
$0
$0
Leverage Available
No
1:50-1:100
Trade Limit (maximum per trade)
Depends on asset class
Depends on the assets class
Commission (per account type)
$0
$0
Best Suited For (e.g., beginners, experienced traders)
Both beginners and experienced traders
Beginners to experienced traders
Deposit & Withdrawal Options
Deposit Methods
Wire Fund Transfer, Check deposit, Asset transfer, ACH electronic transfer
VAN bank transfer, Bank transfer, Telegraphic transfer, Credit/ debit card
Withdrawal Methods
Wire Fund Transfer, Check Deposit, Asset transfer, ACH electronic transfer, Withdrawal of sales proceed
Telegraphic Transfer, MEPS
Other E-Wallets Supported
No
No
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Education Center, Investment Education Videos, Option Guide, Margin Guide, Webinars, Tax center, Blogs, Upcoming IPOs
Saxo Academy Trading Education, Market Analysis and Insights, Webinars, Trading Strategies and Ideas, Saxo TV Market News and Analysis
Fees & Commissions
Trading-Related Fees
Commission for stocks, ETFs, Options, Mutual funds- $0, Fixed income- Treasury Bills, Notes & Bonds, Municipal Bonds, Agency Bonds, Secondary Market CDs, Zeros & Strips- Net yield basis, Primary Market CDs- $30, Broker-Assisted Stock & Options Trades- $19.95 (+$0.50/Contract)
Stocks - $1, ETFs-$1, Bonds- 0.05%, Mutual funds- $0, Spread on Major forex pairs- from 0.7 to 0.9 pips
Spread (typical, fixed, variable)
Typical
Variable
Per Lot Fees
NA
NA
Options Contract Fees
$0
$0.75
Futures Contract Fees
NA
$1
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
No
1:1000
Non-Trading Fees
Dormant Fees
$0
$0
Subscription Fees (for premium features, data feeds)
NA
100 EUR per ISIN
Advisory Fees
0.20-0.30%
NA
Swap Fees (Overnight Financing)
NA
Yes
Statement or Document Fee
$2-$5
NA
Account Opening Fee
$0
NA
Account Maintenance Fee
$0
NA
Deposit Fee
$0
Plus or minus 0.25%
Currency Conversion Fee
3%
$0
Withdrawal Fee
$25-$75
$0 bank fees may apply
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
Yes
No
Trading Hours
Trading Hours (for each asset class if applicable)
Pre-Market: 8:00 AM to 9:30 AM ET Regular Market: 9:30 AM to 4:00 PM ET After-Hours: 4:05 PM to 8:00 PM ET
Varies by instrument
Customer Support
Support Hours (e.g., 24/7, weekdays only)
Monday - Friday,10am - 4pm ET
24/5
Customer Support Methods (phone, email, live chat)
Phone: U.S. Toll Free: 1-800-869-8800, Outside the US: 1-718-961-6600, E-mail, FAQ, Fax: 1-718-961-3919
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
Support Languages
3
24+
Additional Information
Headquarters Location
30-50 Whitestone Expwy. Ste. A301 Flushing, NY 11354
Copenhagen, Denmark
Complaints (for crypto brokers)
No
No
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