IC Markets vs. Saxo Bank Comparison

This comparison guide aids users that have a hard time to pick in between IC Markets and Saxo Bank to find the very best online broker for their trading and financial investment needs. It evaluates the highlights of the two brokers alongside to assist individuals compare their service and make a notified decision.

To help customers choose the best broker between IC Markets and Saxo Bank to discover the best-suited system, below is a listing of broker’s advantages and disadvantages, adhered to by a comparison of their main trading functions, including trading systems & devices, costs, mobile trading, deposit & withdrawal, possessions, policy, and client support.

IC Markets vs. Saxo Bank: Summary

IC Markets logo

IC Markets is a reputable forex and CFD broker regulated by two tier-one regulators (the ASIC and CySEC). They allow users to trade on over 3,500 symbols including 61 forex pairs and dozens of CFDs on cryptocurrencies, shares and indices.

IC Markets features multiple trading platforms and third party plugins including MetaTrader 4 (MT4), MetaTrade 5 (MT5), cTrader, myfxbook and AutoTrade. They also offer scalable order execution options without requotes and possibilities to place trades within the spread, which makes IC Markets an interesting choice for algorithmic traders.

IC Markets trading fees are among the lowest in the industry. They charge an average spread of 0.2 pips (EUR/USD) without extra commission. They also offer discounts to active traders with a trade volume above 100 lots/month.

IC Markets customer service is available by email, phone, and live chat in English, Arabic, and several other languages.

Saxo Bank logo

Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.

If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.

Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.

Pros

  • MT4, MT5 and cTrader integration
  • Competitive spreads from 0,0 pips EUR/USD
  • Copy trading features (DupliTrade and Zulutrade)
  • Up to 1:500 leverage
  • Free Equinix NY4 VPS server

Cons

  • Limited educational material
  • Limited availability of assets
  • No research and analysis tools

Pros

  • Industry leading market coverage
  • Excellent Trading Features with SaxoTraderGo
  • Advanced order type and account protection features
  • Intuitive and easy to use mobile trading app
  • Great education and research materials
  • Competitive fee structure for active traders

Cons

  • $10,000 minimum deposit for UAE users
  • High time investment to set up
  • Only for advanced traders

Key features

  • Access to over 2,000 CFDs on forex, cryptos and stocks
  • Compatible with MT4, MT5 and cTrader
  • Islamic swap-free account availability
  • Raw spreads from 0,0 pips EUR/USD
  • Fast and reliable trade execution
  • Access to Expert Advisors (EA’s) and other forms of automated trading

Key features

  • 40.000 tradable symbols available (crypto derivatives, forex options and futures)
  • Advanced account protection and order types
  • Fast execution of trades
  • $2.000 minimum deposit
  • “Best in class” educational resources
  • Great ease of use level combined with advanced features

IC Markets vs. Saxo Bank Comparison

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IC Markets logo

IC Markets

Open account Read review

73.59% of retail CFD accounts lose money

Saxo

Saxo Bank

Open account Read review

69% of retail investor accounts lose money when trading CFDs with this provider.

BROKER COMPARISON

IC Markets logo
Saxo

Overall rating

4,5/5

4,9/5

Overall rating

4,5/5

4,9/5

Trading Platform & Tools

4.4

4.9

See details
Automated Trading
Charting Tools
Conditional Orders
cTrader
Demo Account
Desktop Platform
Max Leverage 1:500 1:20
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Mobile Version
Mutual Fund Management
Proprietary Platform
Social/Copy Trading
Trading Alerts
Trading signals
Watchlist
Web Version

Fees

4.7

4.7

See details
Withdrawal Fee 0 0
Deposit Fee 0 0
Inactivity Fee 0 $100 / 6months
Cost Per Trade $3.5 per lot 0
Cost Per Month 0 0
Forex (EUR/USD) 0 1
Stocks & ETF 0 $1
CFD (Gold) 0 $0.60
Crypto 0 0
Options 0 $1.25
Conversion Fees 0,75%
Misc. Fees 0
Overnight Fees 0

Mobile Trading

5.0

5.0

See details
Android
Apple
Watchlist
Econ. Calendar
Charting Tools

Deposit & Withdrawal

4.8

4.7

See details
Minimum deposit (in UAE) $200 $2000
Bank Wire
Credit/Debit Card
Cash
Check
Islamic Account Transfer
E-payments
Paypal
Skrill
Neteller

Assets

3.6

4.9

See details
Shares 0 30.000
ETF & Funds 0 5.800
Crypto 0 9
Commodities 0 0
Indices 0 0
Options 0 3.000
Futures 0 300
Bonds 0 4.200
Forex 61 200
CFD Indices & Funds 25 50
CFD Stocks 730 19.000
CFD Commodities 22 50
CFD Crypto 18 0
CFD Bonds 11 0
Binary Options 0 0
SWAPS 0 0
Saving Plans 0 0

Regulation

5.0

5.0

See details
Tier 1 License
Tier 2 License
Tier 3 License

Research & Education

4.8

4.8

See details
Webinars
Educational Resources
Daily News Updates
Market Indepth Analysis
Pers. Training & Room
Market Research

Customer Support

3.7

4.9

See details
Email
Phone
Live Chat
24/7 support
Multilingual
Personal Account Manager

Winner

IC Markets vs. Saxo Bank Comparison Conclusion

The outcomes of our comparison of IC Markets vs. Saxo Bank are wrapped up in the table below.

Broker:Best For:
IC MarketsForex and CFDs; Algorithmic Trading
Saxo BankPremium Trades and CFD Trading

Selecting the right choice between IC Markets and Saxo Bank can be hard. Both on the internet brokers have similarities but differ concerning trading tools, systems & apps, policy, deposit & withdrawals, and research and education. Selecting the best broker depends upon customers’ trading & financial investment objectives, private choices, and experience level.

To make a better-informed decision, users can read our detailed broker reviews, comparison or use our broker selector to help them find the ideal broker.

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