Saxo Bank vs. IC Markets

Page Summary

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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Saxo

Saxo Bank

Open account Read review

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

IC Markets logo

IC Markets

Open account Read review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

BROKER COMPARISON

Saxo
IC Markets logo

Overall rating

4,9/5

4,5/5

Overall rating

4,9/5

4,5/5

Trading Platform & Tools

4.9

4.4

See details
Automated Trading
Charting Tools
Conditional Orders
cTrader
Demo Account
Desktop Platform
Max Leverage 1:20 1:500
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 No
Deposit Fee 0 No
Inactivity Fee 0
Cost Per Trade 0 $3.5 per lot
Cost Per Month 0 0
Forex (EUR/USD) 1 1.2 pips
Stocks & ETF 0.08% with $1 min. commission on US stocks 0
CFD (Gold) $0.60 0
Crypto 0 0
Options $0.75 0
Conversion Fees 0,75% 0.01%
Misc. Fees 0
Overnight Fees 0

Mobile Trading

5.0

5.0

See details
Android
Apple
Watchlist
Econ. Calendar
Charting Tools

Deposit & Withdrawal

4.7

4.8

See details
Minimum deposit (in UAE) $5000 $200
Bank Wire
Credit/Debit Card
Cash
Check
Islamic Account Transfer
E-payments
Paypal
Skrill
Neteller

Assets

4.9

3.6

See details
Shares 30.000 0
ETF & Funds 5.800 40
Crypto 9 0
Commodities 0 0
Indices 0 0
Options 3.000 0
Futures 300 0
Bonds 4.200 0
Forex Instruments 200 75
CFD Indices & Funds 50 25
CFD Stocks 19.000 2100+
CFD Commodities 50 28
CFD Crypto 0 13
CFD Bonds 0 9
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

4.9

3.7

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

Winner

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:  

  1. Saxo Bank offers premium trading platforms with social trading and educational tools. 
  2. IC Markets offers excellent learning tools for new traders. 
  3. 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. 

Fees 

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. 

Assets  

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. 

Trading platform  

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 

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. 

Final verdict  

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. 

Saxo Bank compared to other brokers:

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