Dukascopy vs Saxo 2026
By Akash · Facts from the brokers’ own sites, sources linked on each review
Saxo has the higher TFB Score (74/100 vs 67/100).
Dukascopy Bank SA is a Swiss bank founded in Geneva in 2004 and regulated by FINMA as a bank and securities firm, with an EU arm Dukascopy Europe IBS AS in Riga, offering JForex 4 and MetaTrader 4 with volume-based commissions.
75.14% of retail CFD accounts lose money with this provider.
Saxo is a Danish bank founded in Copenhagen in 1992 (Saxo Bank A/S, Danish FSA licence 1149); UK clients use Saxo Capital Markets UK Ltd (FCA 551422). It offers Classic, Platinum and VIP tiers on SaxoTrader, SaxoInvestor and TradingView, with no minimum deposit.
66% of retail CFD accounts lose money with this provider.
Side by side
| Item | Dukascopy | Saxo |
|---|---|---|
| TFB Score | 67/100 | 74/100▲ |
| Regulation & safety | 25/351 tier-1 regulator (FINMA), client money kept apart | 32/35▲2 tier-1 regulators (Danish FSA, FCA), investor compensation |
| Fees & costs | 13/25Spreads from 0.1 pips; commission not published | 16/25▲Spreads from 1 pips; commission not published |
| Deposits & withdrawals | 16/20▲Minimum deposit $100 (Dukascopy Bank SA forex account), 6 deposit methods, 5 withdrawal methods | 14/20Minimum deposit No minimum deposit (individual account), 3 deposit methods, 1 withdrawal method |
| Platforms & trading | 13/20▲MT4; leverage up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | 12/20TradingView; leverage up to 3.33% initial margin on EURUSD for retail clients (about 1:30) |
| Trader Score | No trader scores yet | No trader scores yet |
| Regulators | FINMA | Danish FSA, FCA |
| Minimum deposit | $100 (Dukascopy Bank SA forex account) | No minimum deposit (individual account) |
| Spreads from | 0.1 pips (variable, SWFX marketplace) | 1 pip EUR/USD minimum (global page; varies by country) |
| Commission | USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume) | USD 3 fixed commission on FX trades under 50,000 units |
| Max leverage | Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | 3.33% initial margin on EURUSD for retail clients (about 1:30) |
| Platforms | ||
| Withdrawal methods | Bank transfers, Payment cards, Skrill, Neteller, Bitcoins, Ether, Tether | Return to an account held in your name |
| Retail accounts losing money | 75.14% | 66% |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: Dukascopy review · Saxo review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is Dukascopy or Saxo better?
Saxo has the higher TFB Score (74/100 vs 67/100). The best choice depends on your country, platform and payment method.
Are Dukascopy and Saxo regulated?
Dukascopy: FINMA. Saxo: Danish FSA, FCA. Every licence is linked to the regulator's register on each review.
Which is safer, Dukascopy or Saxo?
Dukascopy holds 1 tier-1 licence (FINMA); Saxo holds 2 (Danish FSA and FCA). Tier-1 regulators have the strictest rules on client money. Your protection depends on which company opens your account.
What is the minimum deposit at Dukascopy and Saxo?
Dukascopy: $100 (Dukascopy Bank SA forex account). Saxo: No minimum deposit (individual account).
Which has tighter spreads, Dukascopy or Saxo?
Published spreads start from 0.1 pips (variable, SWFX marketplace) at Dukascopy and 1 pip EUR/USD minimum (global page; varies by country) at Saxo; commission: Dukascopy USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume), Saxo USD 3 fixed commission on FX trades under 50,000 units.
Do Dukascopy and Saxo offer MetaTrader and TradingView?
Dukascopy: JForex 4, MetaTrader 4. Saxo: SaxoTrader, SaxoInvestor, TradingView.
What is the maximum leverage at Dukascopy and Saxo?
Dukascopy: Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA). Saxo: 3.33% initial margin on EURUSD for retail clients (about 1:30). Leverage depends on the company that opens your account and on your country.
How many retail accounts lose money at Dukascopy and Saxo?
Dukascopy states 75.14% and Saxo states 66% of retail investor accounts lose money when trading CFDs with them.
More Dukascopy comparisons
More Saxo comparisons
Forex trading at these brokers is done through CFDs (contracts for difference): you trade on the price moving up or down, without owning the currency itself.Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money. Read the full risk warning