XS vs Saxo for US stocks
Saxo gives you the actual share; XS gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment.
Pick XS if non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5. Pick Saxo if larger portfolios.
CFD — no ownershipA multi-asset CFD broker, not a US stockbroker. It is on this site because it gives non-US traders leveraged exposure to several hundred US share prices with no minimum deposit.
Visit XSPriced for size — the tiering rewards larger balances and punishes small ones.
Visit SaxoSide by side
| XS | Saxo | |
|---|---|---|
| What you hold | A CFD on the price | The share |
| US stock access | 550+ US share CFDs | US listed stocks plus 50+ global exchanges |
| Minimum deposit | None | None |
| Fractional shares | n/a | No |
| Published pricing | US share CFDs on the Standard account trade on a floating spread with no separate commission; swaps apply to positions held overnight and are tripled on Fridays. | Tiered commission on US shares that falls with account level; custody fees apply in some jurisdictions. |
| Platforms | MetaTrader 4, MetaTrader 5, XS Trading App | SaxoTraderGO, SaxoTraderPRO |
| Extended hours | Regular US session only, per its published trading hours | Available on selected US listings |
| Regulation | ASIC 374409, CySEC 412/22, FSCA 53199, CMA 20200000339, FSA SD089, LFSA MB/21/0081, FSC GB25204786 | DFSA 1149, FCA 551422, MAS CMS100411 |
| Founded | 2010 | 1992 |
Where each one wins
XS
- Non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5
- Starting with no minimum deposit on the Standard account
- Traders who want an entity licensed in the UAE, South Africa or Labuan
- CFDs are leveraged: you do not own the share, get no shareholder rights, and can lose all your capital
- XS says its website is not directed at residents of the United States, the European Union, Australia or Japan
- Which XS entity holds your account depends on where you live, and investor protection differs by entity — confirm it before depositing
- Dividends arrive as cash adjustments on open CFD positions, not as shareholder dividends
Saxo
- Larger portfolios
- Investors wanting US plus European and Asian listings
- Bank-grade custody
- Costs bite at small account sizes
- No fractional shares
Frequently asked questions
XS or Saxo — which is better for US stocks?
Saxo gives you the actual share; XS gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment. XS: non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5. Saxo: larger portfolios.
Which is cheaper?
XS: US share CFDs on the Standard account trade on a floating spread with no separate commission; swaps apply to positions held overnight and are tripled on Fridays. Saxo: Tiered commission on US shares that falls with account level; custody fees apply in some jurisdictions. Both figures are restated from each broker's own pricing page; for small non-USD accounts, currency conversion usually costs more than commission does.
Which is better regulated?
XS is authorised by ASIC, CySEC, FSCA, CMA, FSA, LFSA, FSC; Saxo by DFSA, FCA, MAS. What matters is which entity holds your account, since that determines your compensation scheme and leverage limits.
Reviewed October 2026. Figures restated from each broker's published pages.