Broker comparison between Saxo vs Worldclass Financial Intelligence
Do you want to figure out which is the better broker, saxo or worldclass?
In the following table, you can compare the features of saxo and worldclass side by side to determine the best fit for your trading needs.
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction.
2.Does saxo or worldclass have a lower transaction costs and fees?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we believe that saxo and worldclass are both reliable. We analyze the reasons as following:
Forex broker introduction
General Information & Regulation of Saxo
Founded in 1992, the company launched its first online trading platform in 1998, providing traders with professional-grade tools and access to multi-asset markets. Saxo Group serves clients in over 120 countries, manages $16 billion in assets, and processes over 125,000 trades per day to date. The headquarter of Saxo Bank is located in Copenhagen while an organization operating in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Sydney, Hong Kong and Tokyo, and Saxo Bank is licensed by several regulators globally.
Saxo Market Instruments
The company offers a wide range and a number of financial products, mainly divided into leveraged instruments and investment products. Leveraged products include CFD products, Futures, Commodities, and listed options, while investment products include stocks, bonds, ETFs, mutual funds, and managed portfolios.
Saxo Markets has three main account levels, namely Personal, Institutional and Professional. Individual accounts are divided into Classic, Platinum, and VIP accounts. Classic accounts have a minimum deposit of $2,000. The minimum deposit for a Platinum account is $200,000, which allows investors to get smaller spreads and lower commissions, while the minimum deposit for a VIP account is now $1, 000,000. Saxo Markets' corporate account contains the same three accout types too, with the minimum deposit for the classic account up to $10,000, $200,000 for the platinum account , and the minimum deposit for VIP account is $1000,000. Investors will be reclassified as Professional clients if they meet any two of the three conditions: having a financial portfolio of more than 500,00 EUR; having made at least 10 relevant transactions of significant size in the last four quarters; working in the financial sector, or having worked for at least one year.
With regard to trading leverage, professional clients are entitled to leverage of 1:40 for the primary index, 1:33 for the secondary index, 1:33 for gold, 1:10 for equities, and 1:25 for commodities. Retail clients are entitled to leverage of 1:20 for the primary index, 1:10 for the secondary index, 1:20 for gold, 1:5 for equities and 1:10 for commodities.
Spreads & Commissions
Spreads on CFD products are as low as 0.4. Go long or short more than 9,000 products, and enjoy low spreads and credits. Commissions start at $3 per share for equities, as low as $0.85 per lot for commodities, and $3 per share for ETFs. Futures commissions start as low as $0.85 per lot, bonds commissions start at 0.05%, listed options commissions start as low as $1.25 per lot, and mutual funds commissions are $0 for custody and platform fees.
Saxo uses the best-in-class trading platform SaxoTraderGO, a powerful trading tool with enhanced trading instruments, innovative risk management features including account shields (which act as stop-loss levels for the entire account value and close out the entire position in case of a penalty), stop-loss orders, cancel all orders, margin usage details, margin alerts, and fast position closing features. In addition, Saxo Group also offers SaxoLite (mobile trading platform for Hong Kong and US stocks) for investors.
Deposit & Withdrawal
Saxo Bank supports several deposit and withdrawal methods, including Visa, MasterCard, Visa Debit, Visa Electron, MasterCard Debit, Maestro (for UK residents), Visa Dankort (for Denmark residents), Carte Bleue (for France residents). The company does not charge any fees for withdrawals, but if an investor makes a withdrawal request via manual withdrawal, a processing fee of 40 EUR will be charged.
General Information & Regulation
Worldclass Financial Intelligence is an offshore broker registered in Saint Vincent and the Grenadines that doesnt hold any license to provide financial services. What is worse, the broker might be a clone firm, and such entities are typically part of a scam.
Tradable financial instruments available on the Worldclass Financial Intelligence include forex, commodities, indexes, stocks.
The minimum deposit is stated to be $50, but once we made an account, it turned out that it is actually $100 – not that it matters when most of its competition can open an account for about $10, but still.
The leverage Worldclass Financial Intelligence offers, however, is not okay – 1:1000 is too much for retail traders, as a majority of the regulatory bodies out there have ruled.
Spreads & Commissions
The spreads on the platform are okay – a bit over the generally accepted 1 pip for major FX pairs like EURUSD.
Trading Platform Available
Worldclass Financial Intelligence provides access to industry-leading trading platform Metatrader 4 – the platform has earned that distinction with its comprehensive UI and powerful automated trading features.
Worldclass Financial Intelligence accepts deposits via local bank, wire tranfer, credit Card, as well as Bitcoin. Bitcoin is not eligible for a chargeback at all. As for withdrawals, Worldclass Financial Intelligence never specifies what kind of fees it charges on them – but considering how shady the broker is already, we fully expect them to be quite difficult and expensive.
The Worldclass Financial Intelligence customer support can be reached through telephone: +1 784 485 4216, email: email@example.com.
Business Hour: Monday – Friday : Open, Saturday & Sunday: Closed.
Address: First Floor, First St. Vincent Bank Ltd Building, P. O Box 1574, James Street, Kingstown, St. Vincent & the Grenadines.
Does saxo or worldclass have a lower transaction costs and fees?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive saxo and worldclass are, we first considered common fees for standard accounts. On saxo, the average spread for the EUR/USD currency pair is -- pips, while on worldclass the spread is --.
Which broker is safer, saxo or worldclass?
To determine the safety of a forex brokers, our experts take various factors into consideration in a multi-dimensional manner. This includes which regulatory licenses the forex trader holds and how reputable those licenses are. We also consider the history of a forex dealer, as long-standing dealers are usually more reliable and trustworthy than newer start-ups. saxo is regulated by ASIC,FCA,FSA,SFC,BDF,CONSOB,FINMA,MAS,BDF,DFSA,ASIC. worldclass is regulated by --.
Which broker provides better trading platform, saxo or worldclass?
When our experts review a broker, they usually open real trading accounts and trade through the broker's trading platform. This gives us a better overall assessment of the quality of the platform, the ease of use and the features it offers. saxo Available trading platforms include VIP account、Platinum account、Classic account, tradable financial instruments include -- worldclass works/provides VIP account、Platinum account、Classic account trading platform, trading instruments --