Comparison Firstrade vs Saxo Bank
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Firstrade vs Saxo Bank. Which of them: Firstrade or Saxo Bank a better online broker?
First of all, we’ll compare the commission fees of the two brokers. Firstrade has a commission fee of $0, and Saxo Bank has a commission fee of from 0.1% commission. When analyzing trading options, the commission fees of Firstrade is $0, and that one of Saxo Bank is from £2.50 per lot. The full online broker reviews contains more detailed information on the brokers’ commission fees.
It is important for investors to know what types of online trading broker supports and what tools they can use for trading. Let’s compare them. Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading are provided to customers by Firstrade and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Forex Trading, Futures Trading, Crypto Trading, Robo Advisor are provided by Saxo Bank. Concerning the platforms, Firstrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App, while Saxo Bank uses Desktop Platform (Windows), Desktop Platform (MacOS), Android App, iOS App.
In conclusion, when comparing the two online brokers, we should pay our attention to the year and country of foundation, the regulatory authorities and ways to withdraw funds. Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. And Saxo Bank was established in 1992 in Denmark, and it is regulated by FCA, FSA, DFSA, ASIC, FSC. We can withdraw funds from Firstrade with the help of Bank Wire, and its withdrawal fee is $30 domestic US, $50 international. And Saxo Bank provides the ability to withdraw funds with the help of Bank Wire, and its withdrawal fee is 0. The time for withdrawal in Firstrade is 2-3 business days, and that one in Saxo Bank is 1-2 business days.
As a result, the rating of Firstrade is 3.9 stars versus that of Saxo Bank of 4.1 stars.