Saxo vs XM for gold trading
Across the 22 countries we cover, Saxo scores higher in 5 and XM in 16. In 1, they are tied or neither is available. The winner depends on where you live, because each broker opens your account with a different company in each country.
Score by country
| If you live in | Saxo | XM |
|---|---|---|
| Other countries | Not accepted | 40 · FSC |
| United States | Not accepted | Not accepted |
| United Kingdom | 76 · FCA | Not accepted |
| EU / EEA | 76 · Danish FSA | 74 · CySEC |
| Australia | 70 · ASIC | 79 · ASIC |
| Canada | Not accepted | 40 · FSC |
| Singapore | 61 · MAS | 40 · FSC |
| Malaysia | Not accepted | 40 · FSC |
| Indonesia | Not accepted | 40 · FSC |
| Thailand | Not accepted | 40 · FSC |
| Vietnam | Not accepted | 40 · FSC |
| Philippines | Not accepted | 40 · FSC |
| India | Not accepted | 40 · FSC |
| Japan | 61 · JFSA | 40 · FSC |
| Hong Kong | 61 · SFC | 40 · FSC |
| UAE | Not accepted | 59 · DFSA |
| South Africa | Not accepted | 40 · FSC |
| Kenya | Not accepted | 40 · FSC |
| Nigeria | Not accepted | 40 · FSC |
| South Korea | Not accepted | 40 · FSC |
| Turkey | Not accepted | 40 · FSC |
| Mongolia | Not accepted | 40 · FSC |
| Brazil | Not accepted | 40 · FSC |
Side by side
| Founded | 1992 | 2009 |
|---|---|---|
| Headquarters | Copenhagen, Denmark | Limassol, Cyprus |
| Listed parent | No | No |
| Regulators | Danish FSA, FCA, MAS, ASIC, SFC, FINMA, JFSA | CySEC, ASIC, DFSA, FSC |
| Platforms | TradingView, Own | MT4, MT5, Own |
| Minimum gold order | 0.01 | 0.01 |
| Swap-free account | No | Yes |
| Protection you actually get | Not measured yet | 30 |
| Gold trading cost | Not measured yet | Not measured yet |
| Execution under stress | Not measured yet | Not measured yet |
| Money in and out | Not measured yet | Not measured yet |
| Platforms and gold conditions | Not measured yet | 75 |
Choose Saxo if…
- Retail clients can be served by Tier 1 regulated companies (Danish FSA, FCA, MAS, ASIC, SFC, FINMA, JFSA).
- In 6 of the 22 countries we cover, your account would sit with a Tier 1–2 regulated company.
- Can be traded directly from TradingView charts.
- 34 years in business.
Watch out for
- Licence details come from the broker’s own pages; our register check is not finished.
- Only accepts clients in the countries where it holds a local licence.
- Does not accept residents of 16 of the 22 countries we cover.
Choose XM if…
- Retail clients can be served by Tier 1 regulated companies (ASIC).
- In 3 of the 22 countries we cover, your account would sit with a Tier 1–2 regulated company.
- Offers both MT4 and MT5.
- Swap-free account available.
Watch out for
- Licence details come from the broker’s own pages; our register check is not finished.
- Clients outside its licensed countries are onboarded to XM Global Ltd (FSC), a light offshore regulator.
Questions
Is Saxo or XM better for gold trading?
Across the 22 countries we cover, Saxo scores higher in 5 and XM in 16. In 1, they are tied or neither is available. The winner depends on where you live, because each broker opens your account with a different company in each country.
Which is safer, Saxo or XM?
In countries without a local licence, Saxo does not accept clients. In countries without a local licence, XM uses XM Global Ltd (FSC). In licensed countries, check the table: the company that holds your money decides your protection.
Do Saxo and XM both offer MT5?
Saxo: no. XM: yes.
See also
Data checked: November 2026 · CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ratings are our opinion, based on the data and rules described in the methodology. They are not investment advice.