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Saxo Group vs Covenance
Both forex brokers have built a positive reputation, and feedback from our members supports that.
That said, Saxo Group currently holds a stronger overall rating (2) than Covenance (0).
Saxo Group has a higher minimum deposit than Covenance, at 5000.0.
Both platforms offer their clients demo accounts, mobile trading, MAM/PAMM.
Traders should note that
both companies offer the same minimum (0.01) and maximum lot size (100.0).
Saxo Group offers a lower maximum leverage of 1:50, whereas Covenance allows trading with up to 1:100.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
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Overall Rating:
Platform:
Pricing:
Customer service:
Features:
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| Minimum deposit ($) | 5000.0 | 30.0 |
| Commission | 4.0 | 12.0 |
| Accepting US clients? | ||
| Swap free accounts | ||
| Segregated accounts | ||
| Interest on margin | ||
| Managed accounts | ||
| Accounts for money managers (MAM, PAMM) | ||
| One click trading | ||
| API | ||
| OCO orders | ||
| Trading over the phone | ||
| Hedging allowed | ||
| Trailing stops | ||
| Mobile trading | ||
| Scalping allowed | ||
| Bonuses | ||
| Demo Accounts | ||
| Web based trading | ||
| Contests | ||
| Decimals | 5 | 5 |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | 100.0 | 100.0 |
| Spread | Variable | Variable |
| Broker type | STP, ECN, Market Maker, NDD | STP, ECN, Cent |
| Maximal leverage (1:?) | 50 | 100 |
| Availability | STP, ECN, Market Maker, NDD | STP, ECN, Cent |
| Regulation | FCA (UK), FINMA (Switzerland), CySEC (Cyprus), ASIC (Australia), DFSA (UAE) | - |
| Trading Platforms | MetaTrader 4 (MT4), Web Platform, Mobile Platform, SaxoTrader | MetaTrader 5 (MT5) |
| Funding/Withdrawal methods | Wire Transfer, Credit Card, UnionPay, Skrill | Bitcoin, Crypto, USDT |
| Account Currency | USD, GBP, EUR, CHF, JPY, NZD, CAD, DKK, SEK, BGN, PLN, SGD, HKD, ILS, ZAR, MXN, AUD, NOK, HUF | USD |
| Languages | English, French, Japanese, Italian, Russian, Mandarin, Chinese, Polish, Malay, Arabic, Hungarian, Dutch, Bulgarian, Swedish, Czech, Slovak, Ukranian | English |
| Country | Denmark | Comoros |
| Trading platform(s) timezone | Australia, Belgium, Denmark, Czech Republic, France, Hong Kong, India, Italy, Japan, Netherlands, Poland, Saudi Arabia, Singapore, Switzerland, United Kingdom | Comoros |
| Other trading instruments | Stocks, Options, Futures, Indices, Commodities, Energies, Shares, CFDs, Cryptocurrency, Precious Metals, Bonds | - |
| spreads | ||
| EUR/USD | - | - |
| GBP/USD | - | - |
| USD/JPY | - | - |
| USD/CAD | - | - |
| XAU/USD | - | - |
