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

Segregated Funds

Yes

Negative Balance Protection

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

Commodities

Yes

Indices

Yes

Cryptocurrencies

Yes

CFDs

Yes

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Yes

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Exchange Traded Notes (ETNs)

Precious Metals

Real Estate Investment Trusts (REITs)

Equities

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

Yes

MT5

Yes

cTrader

Yes

Social Trading

Yes

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

Saxo investor, SaxoTrader GO, SaxoTrader PRO

Pepperstone proprietary platform

Platform Compatibility (Windows, Mac, iOS, Android)

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

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

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)

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

Neteller,skrill, PayPal

Tools & Educational Resources

Economic Calendar

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

Per Lot Fees

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

Futures Contract Fees

Markup Fees on Spread

1 pip on FX pairs

Guaranteed Stop Loss Fees

Charges apply

Maximum Leverage

1:1000

1:500

Non-Trading Fees

Dormant Fees

Subscription Fees (for premium features, data feeds)

100 EUR per ISIN

Advisory Fees

Swap Fees (Overnight Financing)

Yes

Statement or Document Fee

Account Opening Fee

Account Maintenance Fee

Deposit Fee

Plus or minus 0.25%

Currency Conversion Fee

Razor Account- $29.36, Standard Account - $48.12, Swap-free Account $58.78

Withdrawal Fee

$0 bank fees may apply

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

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+

Additional Information

Headquarters Location

Copenhagen, Denmark

Melbourne, Australia

Complaints (for crypto brokers)

At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.

Both Saxo Bank and Pepperstone offer affordable fee structures, but Saxo Bank generally edges out with no inactivity fees and lower commissions on standard trades, whereas Pepperstone shines with bundled research and platform access.

Saxo Bank offers a quick and paperless account setup that appeals to traders on the go, whereas Pepperstone more involved onboarding process adds an extra layer of safety and regulatory checks.

Saxo Bank platform is great for fast-paced day trading, especially with features like one-click trading. Pepperstone platform, by comparison, is built for strategy testing and long-term portfolio management.

Advanced users will enjoy Saxo Bank capabilities, but Pepperstone remains a favorite for its streamlined and beginner-centric approach.

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