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Saxo Bank vs TD Direct Investing : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Saxo Bank
TD Direct Investing
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
None
Years of Existence / Established Year
1992
1984
Customer Base / Number of Accounts
1 million+ clients
17 M
Regulation & Security
Regulations (governing bodies)
FSA, FCA, MAS, JFSA, SFC, ASIC, DFSA, FINMA, MiFID
CIPF, CIRO
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
No major awards listed
Security Measures
Danish Depositor and Investor Guarantee Scheme DGS upto EUR 100,000 per depositor
CIPF
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
Fixed income investments, GICs
Currency Pairs
Yes
No
Commodities
Yes
No
Indices
No
No
Cryptocurrencies
Yes
Yes
CFDs
Yes
No
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
Yes
Futures
Yes
No
Bonds
Yes
Yes
Mutual Funds
Yes
Yes
Fractional Shares
Exchange Traded Notes (ETNs)
No
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
No
No
Equities
No
Yes
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
No
MT5
No
No
cTrader
No
No
Social Trading
No
Copy Trading
Yes
No
Other Trading Platforms (proprietary, etc.)
Saxo investor, SaxoTrader GO, SaxoTrader PRO
TD app, web trader, Advanced dashboard, TD active trader
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
Margin account, cash trading account, TFSA, RSP, RESP, RIF, LIRA, LIF, RDSP
Demo Account (Yes/No)
Yes
No
Islamic Accounts (Yes/No)
No
No
Minimum Deposit
$0
$0
Leverage Available
1:50-1:100
No
Trade Limit (maximum per trade)
Depends on the assets class
Depends on asset types
Commission (per account type)
$0
NA
Best Suited For (e.g., beginners, experienced traders)
Beginners to experienced traders
Beginners and experienced traders
Deposit & Withdrawal Options
Deposit Methods
VAN bank transfer, Bank transfer, Telegraphic transfer, Credit/ debit card
Direct bank account, Check
Withdrawal Methods
Telegraphic Transfer, MEPS
SWIP, Wire payment
Other E-Wallets Supported
No
No
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
Learning Centre - Investing Education, Market Insights and Analysis, Webinars, Investing Guides, Video Tutorials, TD Direct Investing Community Forum
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
Commission -mutual funds- $0 , IPOs, Equities- $7.00- $9.99, Stock - $3- $43, Bonds- $40 + $1.50/1,000
Spread (typical, fixed, variable)
Variable
NA
Per Lot Fees
NA
NA
Options Contract Fees
$0.75
$9.99 + $1.25 per contract
Futures Contract Fees
$1
NA
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
1:1000
No
Non-Trading Fees
Dormant Fees
$0
NA
Subscription Fees (for premium features, data feeds)
100 EUR per ISIN
NA
Advisory Fees
NA
NA
Swap Fees (Overnight Financing)
Yes
NA
Statement or Document Fee
NA
$2-$5
Account Opening Fee
NA
Applicable, Depends on account types
Account Maintenance Fee
NA
$25 per quarter
Deposit Fee
Plus or minus 0.25%
$17.50 U.S
Currency Conversion Fee
$0
2.50%
Withdrawal Fee
$0 bank fees may apply
$30-$100
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
No
Yes
Trading Hours
Trading Hours (for each asset class if applicable)
Varies by instrument
Pre-market trading hours (8 a.m. to 9:30 a.m. ET) and after-hours trading (4 p.m. to 8 p.m. ET)
Customer Support
Support Hours (e.g., 24/7, weekdays only)
24/5
Monday to Friday, 7 am to 10 pm ET
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: 1-800-465-5463, , Book an appointment
Support Languages
24+
4
Additional Information
Headquarters Location
Copenhagen, Denmark
66 Wellington Street West, Toronto, ON M5K 1A2
Complaints (for crypto brokers)
No
No
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