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IG Markets vs Saxo Bank: Comparison and Analysis

Trying to figure out whether to use IG Markets or Saxo Bank? This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.

We’ve compared more than 100 variables and features so you can see the pros and cons of IG Markets and Saxo Bank side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.

Scroll the whole post below, or use the quick menu to jump to the relevant section.

Open Account
69% of retail CFD accounts lose money
IG Markets review
Open Account
72% of retail investor accounts lose money
Saxo Bank review

Overall Ratings


Rated
90
Rated
81

General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.

  • IG Markets
  • Saxo Bank

Security 98
Security 95

Cost 62
Cost 69

Trading 100
Trading 75

Education 84
Education 76

Company Info


Foundation
1974
1992
Is it Regulated?
Is it Publicly Traded?
Is it a Bank?
Segregated Clients Funds ?
No-ESMA Branches? ?
Accepts EU Clients?
Accepts US Clients?
Accepts Canadian Clients?
Website Languages
en, ar, dan, de, es, fr, ne, nor, po, ru, swe, it, swi
en, ar, chi(t/s), dan, fr, hu, ne, nor, pol, ru, slo, it, swi, sg

Leverage


Non-EU Leverage ?
200:1
400:1
European Leverage ?
30:1
30:1
Australian Leverage ?
200:1
30:1
US Leverage ?
50:1
0
Canadian Leverage ?
0
400:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
CIRO ?
SFC ?

Tier 2 Regulation


FMA ?
CBR ?
FSCA ?
SEC ?
DFSA ?
CBRC ?
CySEC ?
ISA ?

Tier 3 Regulation


Offshore ?
MMA (Maldives) ?
EDR ?
FSA (Seychelles) ?
SCB (Bahamas) ?
FSC (Mauritius) ?
VFSC (Vanuatu) ?
IFSC (Belize) ?
CIMA (Cayman Islands) ?
SVG (Saint Vincent and the Grenadines) ?
FSRC (St. Kitts & Nevis) ?
BMA (Bermuda) ?
BVI (British Virgin Islands) ?

Brand Power


SimilarWeb - Website Ranking
8985
1601127
SimilarWeb - Total Visits
9340000
Facebook Likes
107634
179040
Twitter Likes
25000
30500
Instagram Likes
2911

Deposit and Withdrawal


Minimum Deposit ?
300 USD
Minimum Withdraw ?
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Maestro, Carte Bleue, Dankort
Deposit Waiting Time ?
instant
1-2 business days
Withdraw Waiting Time ?
1 business day
1-2 business days
Bonus Program ?

Costs and Fees


Deposit Fees ?
Withdrawal Commissions ?
Overnight/Swap Fee ?
Inactivity Fee ?
Conversion Fee ?

Account Types


Demo Account ?
Demo Account Expiration ?
Account Currencies ?
AUD, EUR, GBP, USD, ZAR, AED, CHF, JPY, NZD, SGD
EUR, USD
Standard Account ?
Micro Account ?
Low-cost Account ?
Variable Spread Account ?
Fixed Spread Account ?
Zero Spread Account ?
ECN Account ?
Swap Free Account ?
Islamic Account ?
Professional Traders Account ?
Active Trader Program ?

Commodities


Crude Oil ?
2.8
Natural Gas ?
Silver ?
2.0
13.0
Platinum ?
Copper ?
Soybeans ?
Corn ?
Gold ?
0.3
12.0

Forex Fixed Spreads


EUR/GBP Spread
EUR/USD Spread
USD/JPY Spread
GBP/USD Spread
USD/CHF Spread
AUD/USD Spread
USD/CAD Spread
NZD/USD Spread

Forex Variable Spreads


EUR/USD Average Spread
0.7
0.6
USD/JPY Average Spread
1.19
0.6
USD/CHF Average Spread
2.07
0.7
GBP/USD Average Spread
1.52
0.7
USD/CAD Average Spread
2.3
AUD/USD Average Spread
0.6
1.0
NZD/USD Average Spread
1.7
EUR/GBP Average Spread
0.9
1.8

Fees on Stocks


Apple
3.0
Facebook
3.0
Alphabet
3.0
Snapchat
3.0
BP
5.00
Tesco
5.00
Barclays
5.00
Lloyds
5.00

Fees on Indices


FTSE100
1.0
S&P500
0.4
Dow Jones
Nasdaq
1.0
CAC40
1.0
DAX30
2.0
Nikkei 225
7.0
Euro Stoxx 50
2.0

Fees on Cryptocurrencies


Bitcoin
1
0
Ethereum
1.2
0
Ripple
0.30
0
Litecoin
0
0
Bitcoin Cash
2.0
0
Dash
0
0
Monero
0
0
Neo
0
0

Platforms


cTrader Desktop
cTrader Web
Mirror Trader
ZuluTrade ?
MT4 Dekstop
MT4 Web
MT5 Desktop
MT5 Web
Proprietary Desktop Platform
Proprietary Web Platform
MAC Platforms
Sirix

Mobile Trading


Android ?
iOS ?
Windows ?
Trading Signals on Mobile ?
Smart Watch App ?
Forex Trading ?
CFD Trading ?
Alerts ?
Chartings-Drawing Tools ?
Mobile Available Language ?
en, de, es, fr, po
en, ar, cz, de, es, fi, fr, hu, ne, nor, pol, ru, slo, it, chi
Watchlist Mobile ?

Available Markets


Forex Pairs ?
90
180
Crypto ?
90
180
Commodities ?
34
70
Stocks ?
12000
19000
Indices ?
37
ETF ?
20
3000
Futures ?
5
10
Options ?
20
Bonds ?
12
5000
Metal ?
5
4
Agricultural ?
Energies ?
6
2
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
1
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?

Trading Execution


Direct Market Access (DMA) ?
Straigh Through Processing (STP) ?
Electronic Communication Network (ECN) ?
Market Maker ?
Non Dealing Desk (NDD) ?
FIFO Applies? ?
4 Digits Decimal Pricing ?
5 Digits Decimal Pricing ?

Risk Management


Stop Losses ?
Take Profits ?
Limit Orders ?
Trailing Stop ?
Margin Call ?
OCO Orders ?
Guaranteed Stop Loss ?
Negative Balance Protection ?
Minimum Trade Size ?
0.01 lots
0.001 lots
Maximum Trade Size ?
100 lots
100 lots

Special Trading Conditions


MAM ?
PAMM ?
Social Trading ?
Copy Trading ?
LAMM ?

Available Trading Techniques


Scalping ?
Hedging ?
Spread Betting ?
Expert Advisor (EA) ?
Virtual Private Server ?
API ?

Trading Tools


One-Click Trading ?
Signal Trading ?
Price Alerts ?
Number Chart Indicators ?
22
47
Number Chart Drawing Tools ?
17
17
Trade Directly From Chart ?
Watchlist ?

Education


Education Center ?
Webinars
Platform Tutorial Video ?
Video on Trading for Beginners ?
Video on Trading for Experts ?
Tutorial Guide
Glossary

Customer Support


Call Back Request ?
Email Support
Phone Support
Live Chat
Support Language Available
en, ar, dan, de, es, fr, ne, nor, po, ru, swe, it, swi
en, ar, cz, de, es, fi, fr, hu, ne, nor, pol, ru, slo, it, chi

Research


Professional Reports
Social Trading Features - Social Feeds ?
Economic Calendar
Daily Email With Trading Ideas
Analysis From Trading Central (Recognia)
Analysis From Delkos Research
AutoChartist
Traders Sentiment ?
News via Twitter
News via FaceBook
Daily Market Commentary

IG Markets vs Saxo Bank: A Comparison Summary

Choosing a broker can be a challenging task, especially with the number of options available in the market. This comparison summary will highlight the similarities and differences between two popular brokers, IG Markets and Saxo Bank, to help traders make an informed decision.

Security and Regulations

IG Markets is regulated by multiple authorities such as ASIC, FMA, FSCA, NFA, MAS, DFSA, JFSA, FINMA, and BMA. The broker also has a high security rating of 98. On the other hand, Saxo Bank is regulated by FCA, ASIC, MAS, FINMA, JFSA, and HKSFC, and has a security rating of 95. Both brokers are regulated by reputable authorities and have high-security ratings, making them safe options for traders.

Demo Account

IG Markets offers an unlimited duration demo account with virtual funds of $30,000 that can be restored by contacting customer support. On the other hand, Saxo Bank offers a demo account with a duration of 20 days and virtual funds of $100,000. However, the funds cannot be restored, but multiple demo accounts can be opened with the same email. Both brokers offer demo accounts to their clients, but IG Markets has an edge with its unlimited duration feature.

Account Opening

IG Markets requires a minimum deposit of $300 for most countries and offers a variety of account types, including a Standard account, Limited Risk account, Spread Betting account, Option and Turbo24 account, Share Dealing account, Islamic account, Professional and Select account. Saxo Bank, on the other hand, does not require a minimum deposit and offers a variety of account types, including a Classic account, Platinum account, VIP account, and Corporate account. Both brokers offer multiple account options, but Saxo Bank has a lower minimum deposit requirement.

Social-Copy Trading

IG Markets does not offer social or copy trading features, and Saxo Bank also does not offer these services. Therefore, both brokers do not provide social or copy trading features to their clients.

Markets

IG Markets offers a wide range of markets, including Forex, Commodities, Indices, Crypto assets, Stocks, ETFs, Futures, and Options. The broker offers both CFDs and real assets, making it suitable for both short and long-term investments. Saxo Bank offers Forex, Commodities, Indices, Bonds, Stocks, ETFs, and Futures. However, the broker only offers CFD assets, which means it’s more suitable for short-term investments.

Trading Fees

Both brokers offer variable spreads, with IG Markets offering spreads from 0.6 pips on Forex, and Saxo Bank offering spreads from 0.3 pips on Forex. IG Markets also offers $0 commission on real US stocks for FCA, ASIC, DFSA, JFSA traders. Both brokers have competitive trading fees, but Saxo Bank has lower spreads on Forex.

Platforms

IG Markets offers a proprietary platform, L2 Dealer, ProRealTime platform, and MetaTrader 4 (MT4). Saxo Bank offers SaxoTraderGO and SaxoTraderPRO, which is an advanced trading platform that can be connected with APIs and algo trading. Both brokers offer multiple platforms, and traders can choose the platform that suits them best.

Education/Customer Care

IG Markets offers an extensive education section suitable for every trader, a dedicated Academy App, and easy access to customer care via phone, email, and live chat. Saxo Bank provides clients access to webinars, articles, videos, trading guides, and a trading academy. Customer care is also easily accessible via email, phone, and live chat, and the broker provides dedicated account managers for high-net-worth clients.

Conclusion

In conclusion, both IG Markets and Saxo Bank are reputable brokers with competitive features. IG Markets has a high-security rating, an unlimited duration demo account, a wide range of markets, $0 commission on real US stocks for certain traders, and access to multiple trading platforms. Saxo Bank also has a high-security rating, a demo account with a large virtual fund, a variety of account types, a lower minimum deposit, low spreads on Forex, an advanced trading platform, and access to multiple educational resources.