Saxo Bank vs Tickmill

Tickmill has a slight edge in customer support and overall reputation. It holds an EntryLab rating of 7.80/10 and offers live chat support. Saxo Bank scores 4.60/10 on our platform, which is respectable but trails behind.

Saxo Bank offers greater trading power with maximum leverage of 1:200 professional / 1:30 EU retail. This gives active traders more flexibility to size positions. Tickmill caps leverage at 1:1000, which may limit scalability for experienced traders looking for higher exposure.

Tickmill supports a wider range of deposit and withdrawal options. It accepts Bank Wire, Credit/Debit Card, Skrill, Neteller, Crypto, UnionPay, including cryptocurrency, giving traders more flexibility. Saxo Bank offers Bank Transfer, Visa/Mastercard, Wire Transfer, which may not suit all traders.

Both brokers offer a similar platform suite, so neither has a clear advantage here. Traders using MT4 or MT5 will be equally well-served by either.

When it comes to regulation, Saxo Bank holds the edge. Saxo Bank is regulated by Danish FSA (bank licence), FCA 551422, ASIC 280372, MAS Singapore, FSA Japan, SFC Hong Kong, a top-tier authority, while Tickmill operates under FCA (UK), CySEC (Cyprus), FSCA (South Africa), DFSA (Dubai), FSA (Seychelles). For traders who prioritise safety and fund protection, Saxo Bank is the stronger choice in this category.

Saxo Bank offers more competitive trading costs overall. With EUR/USD spreads from 0.4 pips (Classic) / 0.1 pips (Platinum/VIP) and commissions of commission-free, it undercuts Tickmill, which charges spreads of 0.0 pips with $3 per lot per side (Raw) commission. Cost-conscious traders will find Saxo Bank more attractive.

Tickmill is the more accessible choice for traders getting started. With a minimum deposit of $100, it requires less capital to open an account than Saxo Bank, which requires $0 (varies by region, typically $2,000 recommended). Lower barriers to entry make Tickmill the winner in this category.