Saxo Bank vs Admirals: Which Partnership Program is Better?

Compare Variables	Saxo Bank Trustpilot 3.7 8,660 reviews Replace Saxo Bank in this comparison 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 Saxo Bank Vantage Markets XM XTB	Admirals Trustpilot 4.1 2,165 reviews Replace Admirals 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
Partnership analysis
Key Advantages	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.	Extensive Asset OfferingPartners can market over 8,000 tradable instruments, including Forex, stocks, ETFs, and crypto CFDs, appealing to a broad demographic of traders. Flexible Compensation ModelsThe program supports Revenue Share (up to 50%), CPA, and Hybrid models, allowing IBs to tailor their earning structure to their traffic type. Multi-Level Sub-IB SupportAdmirals offers a multi-level partnership structure, enabling IBs to build sub-affiliate networks for compounded revenue generation.
Considerations	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.	Strict CPA Requirements In EuropeCPA models for EU and UK traffic are restricted exclusively to licensed partners, limiting options for standard affiliates in these regions. Low Maximum LeverageThe maximum leverage is capped at 1:30, which may deter high-risk traders seeking higher margin capabilities. Specific Regional RestrictionsThe broker explicitly restricts its services to residents of Belgium and the Czech Republic, narrowing the addressable market in Europe.
Entity & registration
Registered entity	Denmark	Cyprus
Headquarters	Denmark	Cyprus
Offshore entity	Not Disclosed	Seychelles
Regulatory licences
Regulatory Status	Highly Regulated	Standard Regulated
Regulatory licences	DFSA DENMARKFCAMASFINMACONSOBJFSA	CYSEC
Key affiliate snapshot
Payout Frequency	Monthly	Not Disclosed
Tracking Method	Not Disclosed	Cookie
Withdrawal Methods	Not Disclosed	Not Disclosed
Sub-IB Tiers	Not Disclosed	Not Disclosed
Last verified	Aug 2, 2026	Aug 2, 2026
Commission Structure
Volume RevShare	Not Disclosed	Not Disclosed
CPA Model	Not Disclosed	Not Disclosed
Hybrid Model	Not Disclosed	Available
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	API	Not Disclosed
Marketing & Creatives
Landing pages	Not Disclosed	Not Disclosed
Banners	Not Disclosed	Not Disclosed
Educational materials	Not Disclosed	Available
Promo codes	Not Disclosed	Not Disclosed
Widgets	Not Disclosed	Not Disclosed
IB Support
Dedicated account manager	Available	Not Disclosed
Sub-IB tracking tools	Not Disclosed	Not Disclosed
Custom partner conditions	Not Disclosed	Not Disclosed
Client Trading Conditions
Trading Platforms	Not Disclosed	MT4MT5WebTrader
Tradable markets & scope	BondsCommoditiesCrypto CfdsEtfForexIndicesStocks	CommoditiesCrypto CfdsEtfForexIndicesStocks≈ 8000 instruments
Min Deposit (FTD)	$0	Not Disclosed
Max Leverage	Not Disclosed	1:30
Execution model	ECN	Not Disclosed
Avg EURUSD Spread	Not Disclosed	0.6 pips
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	Not Disclosed	Not Disclosed
Compliance & Geo
Restricted Countries	Not Disclosed	BelgiumCzechia
US Clients Acceptance	Not accepted	Not Disclosed

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