Home Brokers comparison Saxo Bank vs. IG

Saxo Bank vs. IG

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Saxo Bank and IG are top online brokers with impressive trading experiences. Saxo Bank is famous because of its premium trading platforms and tools. It follows a transparent fee policy and has top-tier trading tools. Saxo Bank is a registered bank and has licenses from the ASIC, FSA, MAS, SFC, FINMA, and FCA. We recommend it for professional traders. 

Broker NameSaxo Bank IG
Year Founded19921974
RegulationFCA (UK), FINMA (Switzerland), ASIC and FSC (Australia), and JFSA (Japan)FCA, BaFin
Tradable Assets40,000 instruments, forex, spot FX, FX options, NDFs) CFDs, stocks, stock options, ETFs, ETNs, futures, and 33,000 bonds (available only via phone)Forex, CFDs
Min Deposit$10,000 (£500) for ‘Classic’ Account, Higher entry ‘Platinum’ ($200K) and ‘VIP’ ($1M) accounts$0
Min Trade$0$0
PlatformsSaxoTraderGOWeb, Desktop, Mobile
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge

IG has user-friendly and easy-to-customize platforms. It offers access to m educational tools. IG has top-tier licenses from BaFin and the FCA. We recommend it for beginner traders, as it has valuable learning materials. 

Both online brokers have strengths and weaknesses. This article discusses the differences between Saxo Bank and IG. 

Top findings from the Saxo Bank vs. IG review:  

  1. Saxo Bank offers a premium online trading experience and social trading features. 
  1. IG is a trustworthy online broker with excellent educational tools and platforms. 
  1. Both brokers have a proprietary platform, demo account, and offer active trading discounts. 

Saxo Bank is a popular broker as it offers premium services and trading platforms. It is a top choice for professionals and active traders. We recommend IG to new investors, as it has reliable educational and research tools. 

Overall Rating

FeatureSaxo Bank IG
Overall55
Commissions & Fees55
Offering of Investments55
Platforms & Tools55
Mobile Trading55
Research55
Education45
Trust Score9999
WinnerYES
66% of retail CFD accounts lose money75% of retail CFD accounts lose money

Level of experience  

Beginner traders prefer IG over Saxo Bank. IG offers forex education, webinars, and beginner trading videos. IG organizes weekly webinars and provides access to social sentiment. It is a top choice for new traders. 

Saxo Bank has excellent trading services tailored for experienced traders. It offers some educational materials, including trading videos. Saxo Bank has world-class social trading tools, which is why we recommend it for professionals. 

Fees  

Saxo Bank has a minimum initial deposit of US$10,000, while IG charges £250. The average EUR/USD spread at Saxo Bank is 0.8, while at IG is 0.74. Both brokers offer an active trader discount. 

Assets  

Saxo Bank has 170 forex currency pairs, while IG has 104 available pairs. Saxo Bank offers 9000 CFDs, while IG has access to 19537 CFDs. 

Trading platform  

Saxo Bank has an impressive portfolio with web, desktop, and mobile trading platforms. It offers a demo account, professional research tools, and VIP access to live support. Saxo Bank is famous because of its social trading services. We recommend it for active professional traders. 

IG has user-friendly trading platforms suitable for both beginners and professionals. It provides a web and mobile platform with a simple-to-understand design. IG has many educational tools, including trading videos and forex education. We recommend it for new traders. 

Banking services  

Banking services are helpful to traders of all levels of experience. Saxo Bank is a registered bank and offers bank wire and credit/debit card funding. IG has bank wire, credit/debit card, and PayPal. 

Final verdict  

Saxo Bank and IG are top online brokers with outstanding online trading experiences. Both have advantages and disadvantages, depending on your needs and trading style. We recommend Saxo Bank to active professional traders, as it has premium tools and platforms. IG is a better choice for new traders because of its learning tools and well-designed platforms. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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