Pepperstone vs Saxo Bank: Which Partnership Program is Better?

Compare Variables	Pepperstone Trustpilot 4.3 3,527 reviews Replace Pepperstone in this comparison Admirals AvaTrade Axi CMC Markets Capital.com Exness FBS FOREX.com FP Markets FxPro HF Markets IC Markets Global IG Interactive Brokers Just Markets OANDA Octa Broker Pepperstone Plus 500 Vantage Markets XM XTB	Saxo Bank Trustpilot 3.7 8,660 reviews Replace Saxo Bank in this comparison Admirals AvaTrade Axi CMC Markets Capital.com Exness FBS FOREX.com FP Markets FxPro HF Markets IC Markets Global IG Interactive Brokers Just Markets OANDA Octa Broker Plus 500 Saxo Bank Vantage Markets XM XTB
Partnership analysis
Key Advantages	High CPA PayoutsAffiliates can earn up to USD 800 per qualified client, depending on the client's country of origin. Competitive IB Revenue ShareIntroducing Brokers can earn up to 50% of spreads and commissions, with daily rebate payouts. Diverse Platform OfferingPartners can promote a wide range of trading platforms, including MT4, MT5, cTrader, and TradingView, catering to various trader preferences.	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	Extensive Country RestrictionsThe affiliate program does not accept traffic from numerous jurisdictions, including Russia, Iran, and several African and Middle Eastern nations. Regional Program LimitationsCertain partnership programs and rewards are unavailable in heavily regulated regions such as the EEA, UK, and Australia. Variable CPA TiersCPA payouts fluctuate significantly (from USD 300 to USD 800) based on the specific country group of the referred client.	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	Not Disclosed	Denmark
Headquarters	Not Disclosed	Denmark
Offshore entity	Not Disclosed	Not Disclosed
Regulatory licences
Regulatory Status	No Data	Highly Regulated
Regulatory licences	Unregulated	DFSA DENMARKFCAMASFINMACONSOBJFSA
Key affiliate snapshot
Payout Frequency	Daily	Monthly
Tracking Method	Cookie	Not Disclosed
Withdrawal Methods	Not Disclosed	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 50%	Not Disclosed
CPA Model	Up to $800	Not Disclosed
Hybrid Model	Available	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	Not Disclosed	Not Disclosed
Banners	Not Disclosed	Not Disclosed
Educational materials	Not Disclosed	Not Disclosed
Promo codes	Not Disclosed	Not Disclosed
Widgets	Not Disclosed	Not Disclosed
IB Support
Dedicated account manager	Available	Available
Sub-IB tracking tools	Not Disclosed	Not Disclosed
Custom partner conditions	Not Disclosed	Not Disclosed
Client Trading Conditions
Trading Platforms	MT4MT5cTraderTradingView	Not Disclosed
Tradable markets & scope	CommoditiesCrypto CfdsForexIndicesStocks	BondsCommoditiesCrypto CfdsEtfForexIndicesStocks
Min Deposit (FTD)	Not Disclosed	$0
Max Leverage	Not Disclosed	Not Disclosed
Execution model	NDD	ECN
Avg EURUSD Spread	Not Disclosed	Not Disclosed
Spread type	Not Disclosed	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 Disclosed	Not Disclosed
Investment Programs
PAMM / MAM System	Available	Not Disclosed
Compliance & Geo
Restricted Countries	AfghanistanAntarcticaArmeniaAzerbaijanBelarusBelizeBhutanBosnia and HerzegovinaCameroonCentral African RepublicChadCongoCongoCôte d'IvoireEritreaFrench GuianaFrench PolynesiaGuadeloupeGuamGuineaGuinea-BissauGuyanaHaitiHoly See (Vatican City State)IranIraqKazakhstanLebanonLiberiaLibyaMaliMartiniqueMayotteMozambiqueMyanmarNicaraguaNorth KoreaPalestineRéunionRussian FederationSaint Kitts and NevisSaint LuciaSaint Vincent and the Grenadines	Not Disclosed
US Clients Acceptance	Not accepted	Not accepted

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