If you want to be a successful online trader, you need to have strong analytical skills. But even if you do, in online trading, not everything depends on you. It’s vital to find the platform that will offer profitable trading conditions and won’t turn out to be a scam in the end. This is why we conducted this brokers comparison of DotBig LTD and Saxo Bank.
Read Also: Benefits of Video Surveillance in the Workplace
Table of Contents
Overall Comparison
| DotBig LTD | Saxo Bank | |
| Minimum deposit | $250 | $2,000 |
| Bonus | 10% welcome bonus | none |
| Year of foundation | 2003 | 1992 |
| Securities |
|
|
All costs
Pricing is a vital feature to consider when choosing a broker for forex trading. The trick is that your total expenditures on this activity include not only losses and investments, but fees, account minimums, and commissions as well. Check out more details related to XM No Deposit Bonus here.
Saxo Bank is thought to be one of the most beneficial brokers in terms of pricing for traders who operate big capitals. The company is known for offering low spreads on Forex that vary between 0.6 and 0.8 pips on major currency pairs. Although Saxo Bank is a commission-free broker, it’s difficult to say that it’s a low-cost option for beginners. It has a pretty high entry-level with a minimum deposit of $2,000.
DotBig LTD doesn’t have commissions on trading as well, which means the company makes money from spreads. The average spreads on major currency pairs amount to 1.25 pips. Alongside charging a lower minimum deposit – $250 – DotBig imposes a number of account fees, including a 3.5% withdrawal commission and inactivity fees.
Spreads of DotBig are floating and often become higher during nighttime trading, making it less profitable. The average spreads for different assets are:
- Forex – 1.25 pips
- Stocks – 0.67 pips
- Cryptocurrencies – 1.7 pips
- Commodities – 2.2 pips.
Accessible markets
This comparison of forex brokers also includes the comparison table of the tradable securities displayed by both platforms.
| DotBig LTD | CedarFX | |
| Forex | 72 currency pairs | 182 currency pairs |
| Stocks | 244 stocks | 60+ global stocks |
| Futures | – | 300+ futures |
| Crypto | 650 cryptocurrencies | Crypto ETPs |
| Commodities | 6 commodities with the 1:100 leverage | 4 spot metals, Commodity CFDs, Commodity futures, Commodity options, Commodity ETCs |
| Indices | 13 | – |
| ETFs | Free ETF trades with 20 assets listed | 5,500 ETFs |
| CFDs | The possibility to invest in CFD assets | 19,000+ CFDs |
| Bonds | – | 33,000+ bonds |
On the whole, Saxo Bank offers more than 40,000 tradable instruments. This is a very impressive number and it means traders and investors of all categories will find their favorite securities to trade. Such a vast selection of products makes Saxo Bank one of the most demanded forex brokers. It can also be used as a flexible source of borrowing for other urgent financial need.
Compared to Saxon Banks, the list of available instruments of DotBig is very limited. But in fact, the selection is also quite good for both beginners and experienced investors. Plus, on DotBig you can join venture investments. Invest your funds in promising projects and make a fortune when they grow to the sizes of global corporations like RixLoans.Â
There’s no point in considering that the wider selection of products is always more beneficial. The trick here is to find instruments and conditions, with which it’s more convenient to work.
Online Services
Saxo Bank has done a great job for more than 25 years to provide its clients with the convenient possibility to trade online. Its priority platform is called SaxoTraderGo. If we would have estimated it in scores, it would have received 11 points out of 10. The platform has everything professionals and traders need to navigate across the markets. The same goes for its mobile apps. They have advanced charting and many screening solutions.
DotBig also has its original browser-based trading terminal called DotBig Web. It’s highly praised for its easy navigation and a full range of trading tools. The drawback is that DotBig Web doesn’t display a news column, which means traders have to look for news on third-party resources.
You can trade via desktop terminal as well. You need to install MetaTrader 5. DotBig is also a good choice for beginners who are looking for automated trading opportunities. The broker has trade signals and an advanced platform for copy trading.
Which Broker is Better Overall?
To sum it up, it’s difficult to find brokers that would be good competitors for Saxo Bank. This is one of the most reputable companies in the industry. It has a long and well-established history. Saxo Bank is a multi-awarded broker, leading the industry for a few years. Also, it’s considered to be the best trading platform in terms of security and regulation. There is no surprise that Saxo Bank is better than DotBig. However, low-entry level and free training materials make it a nice choice for complete newbies.