CMC Markets

⭐ 4.5 / 5

Saxo Bank

⭐ 4.7 / 5

CMC Markets vs Saxo Bank — which broker is better in 2026?

Q: Is CMC Markets more regulated than Saxo Bank?

CMC Markets is regulated by FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland. Saxo Bank is regulated by FSA Denmark, FCA, ASIC, MAS, FINMA, DFSA, JFSA, SFC HK.

Q: What are the spreads at CMC Markets vs Saxo Bank?

CMC Markets spreads start from 0.7 pips (Next Generation). Saxo Bank spreads start from 0.6 pips (Classic) / 0.4 pips (Platinum) / 0.3 pips (VIP).

We compared CMC Markets and Saxo Bank across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. Saxo Bank wins on more criteria (4 categories vs 0), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.

	CMC Markets	Saxo Bank	Winner
Rating	⭐ 4.5 / 5	⭐ 4.7 / 5	Saxo Bank
Regulators	FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland	FSA Denmark, FCA, ASIC, MAS, FINMA, DFSA, JFSA, SFC HK	Saxo Bank
Min. deposit	$0 (no minimum)	$0 (Classic) / $200K (Platinum) / $1M (VIP)	Tie
Spreads from	0.7 pips (Next Generation)	0.6 pips (Classic) / 0.4 pips (Platinum) / 0.3 pips (VIP)	Saxo Bank
Max. leverage	Up to 1:30 (EU retail) / 1:500 (Professional)	Up to 1:30 (EU retail) / 1:100 (Pro)	—
Platforms	CMC Next Generation, MT4, CMC Mobile	SaxoTraderGO, SaxoTraderPRO, TradingView, API	Saxo Bank
Founded	1989	1992	—
HQ	London, United Kingdom	Copenhagen, Denmark	—

Pros & cons compared

CMC Markets pros

✓ Founded 1989 — among the oldest CFD brokers (LSE: CMCX)
✓ FCA, ASIC, BaFin, MAS — tier-1 regulators across major financial centres
✓ 12,000+ instruments — one of the broadest catalogues in retail CFDs
✓ Award-winning proprietary 'Next Generation' platform
✓ No minimum deposit

Cons

✗ Proprietary platform has a learning curve vs. MT4
✗ Spread on FX 'Standard' account (0.7 pips) wider than ECN brokers
✗ Limited cryptocurrency CFD coverage

Saxo Bank pros

✓ Founded 1992 — Danish bank with full banking license
✓ Eight tier-1 regulators globally including FSA Denmark, FCA, ASIC
✓ 70,000+ instruments — broadest single-broker market access in retail
✓ Award-winning SaxoTraderPRO desktop platform
✓ Real stocks, ETFs, bonds, options, futures, mutual funds + FX/CFD

Cons

✗ Volume-tier pricing means small traders get worse terms
✗ Premium platforms have a learning curve vs. MT4
✗ Inactivity fee of $25/quarter after 6 months dormant

Which one should you choose?

Choose CMC Markets if you want…

Discretionary traders wanting deep instrument coverage and a sophisticated proprietary platform from a publicly-listed UK broker.

Choose Saxo Bank if you want…

Serious traders with $10K+ deposits wanting institutional-grade market access from a regulated Danish bank.

Frequently asked questions

Which is better — CMC Markets or Saxo Bank?

Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), Saxo Bank wins 4 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.

Is CMC Markets more regulated than Saxo Bank?

CMC Markets holds licenses from: FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland. Saxo Bank holds licenses from: FSA Denmark, FCA, ASIC, MAS, FINMA, DFSA, JFSA, SFC HK. Saxo Bank has more regulatory licenses, giving it broader geographic coverage.

What are the spreads at CMC Markets vs Saxo Bank?

CMC Markets spreads start from 0.7 pips (Next Generation). Saxo Bank spreads start from 0.6 pips (Classic) / 0.4 pips (Platinum) / 0.3 pips (VIP). Actual spreads vary by account type and market conditions.

Which has a lower minimum deposit, CMC Markets or Saxo Bank?

CMC Markets: $0 (no minimum). Saxo Bank: $0 (Classic) / $200K (Platinum) / $1M (VIP). Both require the same minimum.