Revenika.

FP Markets vs Saxo Bank: Which Forex Affiliate & IB Program is Better?

Scale your partner business with precision. A data-backed breakdown of FP Markets and Saxo Bank, analyzing commission structures, regulatory safeguards, and the trading conditions that keep your clients active for the long term.

Compare Variables
FP Markets
Trustpilot 4.8 10,241 reviews
Saxo Bank
Trustpilot 3.7 8,660 reviews
Partnership analysis
Key Advantages
  • High CPA and Hybrid PayoutsPartners can earn up to $800 CPA per referred client, alongside flexible hybrid models combining CPA and volume rebates.
  • Extensive Tradable AssetsWith over 10,000 instruments including Forex, Equities, and Cryptocurrencies, IBs can attract a highly diverse client base.
  • Robust Regulatory FrameworkThe broker holds multiple licenses globally, including ASIC, CySEC, and FSCA, enhancing brand trust and conversion rates.
  • Extensive Regulatory FrameworkSaxo Bank holds licenses from multiple Tier-1 regulators, including the Danish FSA, FCA, and MAS, providing a highly secure environment for client funds.
  • Comprehensive Multi-Asset OfferingPartners can market over 71,000 instruments across forex, stocks, bonds, ETFs, and commodities, catering to a diverse and sophisticated client base.
  • Advanced API IntegrationThe broker provides robust OpenAPI technology, allowing partners to create bespoke, fully integrated user experiences and seamless front-to-back operations.
Considerations
  • Strict Geographic RestrictionsThe affiliate program explicitly excludes a large number of countries, limiting the addressable market for global marketers.
  • High Qualification ThresholdsCPA qualification requires clients to trade at least 5 Standard FX lots or $300,000 USD in IRESS volume.
  • Minimum Withdrawal LimitsAccrued commissions must reach a minimum of $450 USD before they can be withdrawn, which may delay payouts for smaller IBs.
  • Proprietary Platform FocusThe broker relies heavily on its proprietary SaxoTrader and SaxoInvestor platforms, which may require a learning curve for clients accustomed to standard third-party software.
  • Institutional Target AudienceThe extensive product range and sophisticated tools are primarily tailored toward advanced traders and institutional clients, potentially limiting conversion rates among novice retail traders.
  • Stringent Onboarding RequirementsAs a highly regulated bank, Saxo enforces strict KYC and compliance protocols, which may extend the time required to fully onboard and activate referred clients.
Entity & registration
Registered entity
Australia
Denmark
Headquarters
Australia
Denmark
Offshore entity
St. Vincent and the Grenadines
Not Disclosed
Regulatory licences
Regulatory Status Highly Regulated Highly Regulated
Regulatory licences ASICCYSECFSCACMA KENYAFSA SEYCHELLESFSC MAURITIUSSCB DFSA DENMARKFCAMASFINMACONSOBJFSA
Key affiliate snapshot
Payout Frequency Monthly Monthly
Tracking Method CookieIP tracking Not Disclosed
Withdrawal Methods Wire transfer Not Disclosed
Sub-IB Tiers Not Disclosed Not Disclosed
Last verified Aug 2, 2026 Aug 2, 2026
Commission Structure
Lot Rebate ($/lot) Up to $1 per lot Not Disclosed
CPA Model Up to $800 Not Disclosed
Hybrid Model Volume leg up to 1; CPA leg up to $200 Not Disclosed
Tracking & Integrations
Attribution model Not Disclosed Not Disclosed
Cross-device tracking Not Disclosed Not Disclosed
Affiliate cookie duration Lifetime Not Disclosed
Tech Stack Readiness Cellxpert API
Marketing & Creatives
Landing pages Available Not Disclosed
Banners Available Not Disclosed
Educational materials Available Not Disclosed
Promo codes Not Disclosed Not Disclosed
Widgets Not Disclosed Not Disclosed
IB Support
Dedicated account manager Available Available
Sub-IB tracking tools Available Not Disclosed
Custom partner conditions Not Disclosed Not Disclosed
Client Trading Conditions
Trading Platforms MT4MT5cTraderWebTraderTradingView Not Disclosed
Tradable markets & scope BondsCommoditiesCrypto CfdsEtfForexIndicesStocks≈ 10000 instruments BondsCommoditiesCrypto CfdsEtfForexIndicesStocks
Min Deposit (FTD) Not Disclosed $0
Max Leverage 1:500 Not Disclosed
Execution model ECN ECN
Avg EURUSD Spread Not Disclosed Not Disclosed
Spread type Raw Spread Not Disclosed
ECN commission (per lot) Not Disclosed Not Disclosed
Bonus campaigns Not Disclosed Not Disclosed
Swap-Free / Islamic Accounts Not Disclosed Not Disclosed
Crypto deposits (traders) Not Disclosed Not Disclosed
Reduced-KYC onboarding Not available Not Disclosed
Investment Programs
PAMM / MAM System Available Not Disclosed
Compliance & Geo
Restricted Countries AfghanistanAngolaBangladeshBelgiumBurkina FasoBurundiBeninBotswanaCongoCentral African RepublicCôte d'IvoireCameroonCabo VerdeEthiopiaGabonGrenadaGhanaGuineaGuinea-BissauGuyanaHondurasHaitiIndiaIraqIranJamaicaJapanCambodiaKiribatiComorosLaosLebanonLiechtensteinLiberiaLesothoLatviaLibyaMoldovaMadagascarMyanmarMongoliaMauritaniaMaldivesMalawiMozambiqueNamibiaNepalNauruChad Not Disclosed
US Clients Acceptance Not accepted Not accepted