Revenika.

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

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

Compare Variables
Just Markets
Trustpilot 3.6 4,471 reviews
Saxo Bank
Trustpilot 3.7 8,660 reviews
Partnership analysis
Key Advantages
  • High Revenue Share PotentialIBs can earn up to 45% of the spread revenue generated by their referred clients, providing a lucrative earning ceiling.
  • Universal Swap-Free TradingAll client accounts automatically receive swap-free status regardless of their country of residence, which is a strong acquisition tool for global audiences.
  • Daily Commission PayoutsPartners benefit from daily payouts and instant withdrawals, ensuring consistent and reliable cash flow.
  • 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
  • Variable Spreads on Standard AccountsThe average spread for EURUSD on Standard accounts is noted at 4.5 pips, which may be higher than some competitors and could affect high-frequency traders.
  • Limited Platform DetailsWhile a proprietary mobile app and MT server time are mentioned, specific details regarding the availability of advanced desktop platforms like MT4 or MT5 are not prominently detailed in the general text.
  • Strict Verification RequirementsThe broker enforces rigorous KYC and AML policies, requiring high-resolution, apostilled documents in some cases, which might slow down the client onboarding process.
  • 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
Seychelles
Denmark
Headquarters Not Disclosed
Denmark
Offshore entity
Mauritius
Not Disclosed
Regulatory licences
Regulatory Status Standard Regulated Highly Regulated
Regulatory licences CYSECFSCAFSA SEYCHELLESFSC MAURITIUSFSC BVI DFSA DENMARKFCAMASFINMACONSOBJFSA
Key affiliate snapshot
Payout Frequency Daily Monthly
Tracking Method Cookie Not Disclosed
Withdrawal Methods Wire transferOther Not Disclosed
Sub-IB Tiers Not Disclosed Not Disclosed
Last verified Aug 2, 2026 Aug 2, 2026
Commission Structure
RevShare (% of spread/commission) Up to 45% Not Disclosed
CPA Model Not Disclosed Not Disclosed
Hybrid Model Not Disclosed Not Disclosed
Tracking & Integrations
Attribution model Not Disclosed Not Disclosed
Cross-device tracking Not Disclosed Not Disclosed
Affiliate cookie duration Not Disclosed Not Disclosed
Tech Stack Readiness Not Disclosed API
Marketing & Creatives
Landing pages Available Not Disclosed
Banners Available Not Disclosed
Educational materials Not Disclosed Not Disclosed
Promo codes Not Disclosed Not Disclosed
Widgets Not Disclosed Not Disclosed
IB Support
Dedicated account manager Not Disclosed Available
Sub-IB tracking tools Not Disclosed Not Disclosed
Custom partner conditions Not Disclosed Not Disclosed
Client Trading Conditions
Trading Platforms MetaTrader (version not specified) Not Disclosed
Tradable markets & scope CommoditiesCrypto CfdsForexIndicesStocks BondsCommoditiesCrypto CfdsEtfForexIndicesStocks
Min Deposit (FTD) Not Disclosed $0
Max Leverage 1:3000 Not Disclosed
Execution model Not Disclosed ECN
Avg EURUSD Spread 4.5 pips Not Disclosed
Spread type Variable Not Disclosed
ECN commission (per lot) Not Disclosed Not Disclosed
Bonus campaigns Not Disclosed Not Disclosed
Swap-Free / Islamic Accounts Available Not Disclosed
Crypto deposits (traders) Not Disclosed Not Disclosed
Reduced-KYC onboarding Not Disclosed Not Disclosed
Investment Programs
PAMM / MAM System Not Disclosed Not Disclosed
Compliance & Geo
Restricted Countries Not Disclosed Not Disclosed
US Clients Acceptance Not accepted Not accepted