If you want to choose between SaxoHome and InstaForex, you can check out this short comparison. First of all, let’s talk about general information about these two brokers.
Saxo Bank is a bank that has been operating since 1992. The company, headquartered in Copenhagen, serves trading for equities, forex, a large number of currency pairs, and futures.
InstaForex has been operating since 2007 and is a popular company in Asian countries. It does not function as a bank, it is a trading broker. The headquarters of this broker is in Kaliningrad (Russia).
The minimum deposit of two brokers is different from each other. While the minimum deposit is $ 1 for InstaForex, this number is $ 10,000 on the opposite side. However, while InstaForex charges withdrawal fees, Saxo Bank does not. If you are interested in a deposit bonus and no deposit bonus opportunities for new customers, you can find these opportunities in InstaForex. This gives a 100% deposit bonus and a $ 500 no deposit bonus. This feature is not available in Saxo Bank.
Inactivity fees are high at Saxo Bank; UK customers start to pay 25 euro per month when they don’t trade for 3 months. Finally, they both accept payments by credit card and PayPal.
Market And Product Range
By comparing these brokers according to the assets you can trade, you can find out which one is best for your needs. The number of total currency pairs offered by the two brokers mentioned is close to each other; InstaForex 107, Saxo Bank 139. But when it comes to CFDs, Saxo Bank is ahead; Instaforex 88, Saxo Bank 9000.
If you interest in cryptocurrencies, you can trade with them via InstaForex. But there are no cryptos in Saxo Bank. Apart from these, both brokers allow you to trade with stocks, indices, energies, and metals.
Authorities Regulating InstaForex And Saxo Home
Both brokers are regulated by the Cyprus Securities and Exchange Commission (CYSEC). This authority has a medium trust level. In addition, Saxo Bank:
- Financial Conduct Authority (FCA)
- Danish Financial Services Agency (FSA)
- Swiss Federal Banking Commission
While edited by, these are not in InstaForex. Regulators like FCA and ASIC have high trust levels. Saxo Bank has a banking license, but it is not listed on any exchange. It also has a negative balance protection feature that prevents customers from losing more than they do in their accounts.
One of InstaForex’s two companies is regulated by CYSEC while the other is regulated by Britsh Virgin Island FSC. It also provides its customers with an Investor Compensation Fund guarantee. This means that if the company goes bankrupt, customers will receive a maximum of 20,000 euros. In contrast, it is worse than SaxoBank in terms of security because it has not high-level regulation and does not run a bank. In addition, it is not listed on any exchange.