Saxo Bank and IC Markets are top-tier online brokers. Saxo Bank offers reliable trading platforms with powerful tools and educational data. It has a transparent fee structure, and it offers active trading discounts. Saxo Bank is highly regulated, with licenses from the SFC, ASIC, FSA, FINMA, MAS, and FCA. It is an excellent choice for traders of all levels of experience.
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69% of retail investor accounts lose money when trading CFDs with this provider.
73.59% of retail CFD accounts lose money
Trading Platform & Tools
|MetaTrader 4 (MT4)|
|MetaTrader 5 (MT5)|
|Mutual Fund Management|
|Inactivity Fee||$100 / 6months||0|
|Cost Per Trade||0||$3.5 per lot|
|Cost Per Month||0||0|
|Stocks & ETF||$1||0|
Deposit & Withdrawal
|Minimum deposit (in UAE)||$2000||$200|
|Islamic Account Transfer|
|ETF & Funds||5.800||0|
|CFD Indices & Funds||50||25|
|Tier 1 License|
|Tier 2 License|
|Tier 3 License|
Research & Education
|Daily News Updates|
|Market Indepth Analysis|
|Pers. Training & Room|
|Personal Account Manager|
IC Markets is a leading forex broker with a comprehensive portfolio. It offers access to the full MetaTrader suite and auto-trading. IC Markets has top-tier licenses from the FSA, CySEC, and ASIC. It is a top choice for traders of all levels of experience.
This article discusses the advantages and disadvantages of Saxo Bank and IC Markets.
Top findings from the Saxo Bank vs. IC Markets review:
- Saxo Bank offers premium trading platforms with social trading and educational tools.
- IC Markets offers excellent learning tools for new traders.
- Both brokers offer an active trader discount and a demo account.
We recommend Saxo Bank for traders of all levels of experience because of its social trading tools. IC Markets is a top choice for new traders, as it offers useful learning and research tools.
Level of experience
Saxo Bank offers premium services for professional traders. It has some reliable educational and research tools. These include training videos, webinars, and forex education. Saxo Bank is a good fit for experienced traders, as it offers advanced trading videos.
IC Markets is an online broker with valuable research and educational materials. It offers webinars, investor dictionaries, and forex education. IC Markets has trading ideas, analytics, and sentiment indicators. It is a good choice for traders of all levels of experience.
Saxo Bank has a high initial deposit fee of US$10,000, while IC Markets has an initial deposit of $200. The average EUR/USD spread for both brokers is 0.8.
Saxo Bank has 170 forex currency pairs, while IC Markets offers 61 available pairs. Saxo Bank has 9000 CFDs, while IC Markets has 230 available CFDs.
Saxo Bank has desktop, web, and mobile trading platforms. These include a virtual trading account, professional research tools, and educational materials. Saxo Bank offers social trading and access to MT4. We recommend it for professional traders.
IC Markets has access to the MetaTrader suite as its web and mobile platforms. Both are powerful-yet-complex platforms. IC Markets offers excellent customizability and clear fee reports. We recommend it for new traders, as it has a dedicated learning center.
Banking services contribute to an excellent online trading experience. Saxo Bank offers bank transfers and credit/debit card funding options. IC Markets has access to bank transfers, credit/debit cards, PayPal, and Skrill.
Saxo Bank and IC Markets are the top online brokers. Both have strengths and weaknesses depending on your trading experience. Saxo Bank is a top choice for active professional traders as it offers premium services. We recommend IC Markets to new traders because of its straightforward platforms and learning tools.
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