Written by ForexBrokers.com
In this head to head comparison of IG vs Saxo, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing the online brokers IG and Saxo, it's clear both firms are highly reputable in the financial world. IG, established in 1974, is a publicly traded financial institution with impressive regulatory credentials, highlighted by its possession of 8 Tier-1 licenses and 2 Tier-2 licenses. Saxo, founded in 1992, is not traded on a stock exchange but operates as a bank with 7 Tier-1 licenses and 1 Tier-2 license. Both brokers boast a perfect Trust Score of 99 from ForexBrokers.com, signifying that they are highly trusted by industry standards.
Despite differences in their history and public trading status, IG and Saxo share strong regulatory standings. IG’s long-standing presence since 1974 is complemented by its status as a publicly listed bank, reflecting transparency and financial stability. In contrast, Saxo, although younger and privately held, still maintains a robust presence through its banking operations and regulatory prowess. With their consistent high Trust Scores, both brokers demonstrate a strong commitment to security and reliability, offering peace of mind to their clients.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Year Founded | 1974 | 1992 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | Yes |
| Tier-1 Licenses | 8 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers IG and Saxo, both stand out with exemplary ratings, each earning a remarkable five stars in this category. Ranked #8 by ForexBrokers.com, IG shines primarily through its flexible execution methods and active trader pricing. Its Forex Direct accounts appeal particularly to savvy traders, providing competitive spreads averaging around 0.62 pips and the potential for even lower costs via rebates. Although IG is not typically labeled as a discount broker, its offerings cater well to high-volume traders with attractive perks for professionals trading large volumes.
On the other hand, Saxo, ranked #9 by ForexBrokers.com, offers an impressive pricing structure that particularly benefits active and high-volume traders, as well as those maintaining substantial account balances. Saxo's Classic account presents a slightly higher spread starting at 1.1 pips compared to industry norms, whereas its Platinum and VIP accounts offer more competitive rates at 1.0 and 0.9 pips, respectively. Notably, Saxo waives custody fees for securities trading when customers participate in securities lending, further enhancing its cost-effectiveness for seasoned traders.
Saxo differentiates itself with its tiered account system that supports customer growth and offers exclusive benefits for its VIP clients, such as invitations to unique events and access to expert analysts. Although it operates commission-free for most forex trading, Saxo does impose a small ticket fee for trades below 50,000 units. Meanwhile, IG's active rebate program and minimum deposit requirements for different trading tiers attract frequent traders seeking value and flexibility in execution. Both brokers excel in providing competitive fees, making them strong contenders for traders evaluating cost-efficient options.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.1 |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and Saxo for their range of investments, both brokers offer forex trading as CFDs or spot contracts, catering to traders interested in the forex market. IG provides access to an impressive array of 19,537 tradable symbols, while Saxo impressively leads with 70,000 symbols. For those specifically interested in forex pairs, IG offers 97, whereas Saxo offers a wider selection with 190 pairs. Both brokers allow clients to invest in exchange-traded securities on U.S. and international exchanges, such as prominent companies like Apple and Vodafone. However, IG does not support copy trading, unlike Saxo, which does. When it comes to cryptocurrency, neither broker offers the purchase of actual cryptocurrencies, though both allow trading in cryptocurrency derivatives.
Both IG and Saxo have earned top ratings for their investment range, with each scoring five stars. However, Saxo is slightly ahead in ForexBrokers.com's rankings, placed at number three out of 62 brokers, while IG is ranked fourth. This comparison demonstrates that Saxo's broader selection of tradable symbols and investment options make it a preferred choice for traders seeking a wide variety of investment opportunities.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 70000 |
| Forex Pairs (Total) | 97 | 190 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both IG and Saxo offer comprehensive trading platforms and tools, with each broker providing a proprietary platform developed in-house, as well as a web-based trading option and a Windows-based desktop download. For those new to trading or looking to test strategies risk-free, IG and Saxo both provide simulated trading through free virtual demo accounts. Although neither broker supports platforms like DupliTrade or ZuluTrade, IG does offer access to MetaTrader 4 (MT4), while Saxo does not provide this option. Neither offers support for MetaTrader 5 (MT5).
When it comes to charting tools, IG and Saxo both offer 20 drawing tools and allow trading directly from stock charts. However, Saxo stands out with a more extensive watch list feature that includes 60 columns, compared to IG's five. In terms of advanced features, Saxo offers copy trading, while IG does not. Both brokers receive a full five-star rating for their trading platforms and tools, though Saxo is ranked first by ForexBrokers.com, with IG closely following as the number two ranked broker out of 62 evaluated.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 64 |
| Charting - Drawing Tools (Total) | 20 | 20 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 60 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both IG and Saxo offer impressive apps for iPhone and Android users. These apps are equipped with essential features like stock and forex price alerts, real-time watchlists, and watchlist symbol syncing that allows seamless transitions between mobile and online platforms. If you're into technical analysis, you'll find that IG gives you access to 33 technical studies, while Saxo steps it up with 64. Both platforms support trendline drawing and multiple time frame views on charts, with auto-save options for any annotations you make, which adds more convenience for active traders.
In terms of rating, both IG and Saxo boast a solid 5-star score for their mobile trading experiences. However, IG edges out Saxo by being ranked number one by ForexBrokers.com among 62 brokers, while Saxo takes the second spot. This slight difference in ranking might guide those who prioritize having the very top-rated app, but rest assured that both platforms offer highly esteemed trading environments that cater to users looking for reliable real-time market access on their mobile devices.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers IG and Saxo, both provide a solid experience with daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. They each offer tools from Autochartist, helpful for traders seeking technical analysis. However, neither broker includes tools from Trading Central. Both brokers provide sentiment-based trading tools, enabling traders to see long and short position ratios in various markets. IG stands out by offering market research from TipRanks and additional tools from Acuity Trading's Signal Centre, adding layers of insight that Saxo lacks.
Despite these differences, both IG and Saxo deliver admirably in other areas like having comprehensive economic calendars that highlight current and upcoming global news events. Based on ForexBrokers.com ratings, both firms are rated five stars for their research offerings. However, when ranked among 62 brokers, Saxo claims the top spot in the research category, narrowly edging out IG, which is ranked just behind at number two. These rankings reflect the brokers’ commitment to providing valuable insights, clinical tools, and resources that enhance the trading experience for users.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educating beginners in forex and CFDs, both IG and Saxo stand out as top contenders, offering comprehensive resources that are perfect for those just starting out. Each broker provides more than ten educational pieces, including articles, videos, and archived webinars, all focused on these key trading areas. They both host monthly online educational webinars and maintain searchable archives of past sessions, ensuring ongoing learning is accessible for their users. Additionally, each broker offers over ten beginner-focused videos that cover essential trading topics, alongside an extensive investor dictionary explaining more than 50 key investing terms.
While both IG and Saxo excel in providing educational content for traders of all levels, there are differences in how they are perceived in rankings. IG holds the top spot for education among 62 brokers evaluated by ForexBrokers.com, boasting an impressive 5-star rating in this category. Saxo, although also receiving a 5-star rating for education, ranks at 13th place. This subtle distinction may guide beginners who are looking for a platform with a slightly stronger reputation in educational resources, making IG a potentially more attractive option for complete novices in the trading world.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IG is better than Saxo. IG finished with an overall rank of #1, while Saxo finished with an overall rank of #3.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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Saxo
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both IG and Saxo do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
IG offers more diverse payment options for depositing and withdrawing funds compared to Saxo, including ACH, SEPA transfers, and PayPal, while both brokers support Visa, Mastercard, and bank wire transactions, but neither provides Skrill as an option.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IG | Saxo | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Saxo Review |
| Broker Screenshots | IG | Saxo | |
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| Regulation | IG | Saxo | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1992 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 7 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Saxo | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | Yes | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | Saxo | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Saxo | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 70000 | |
| Forex Pairs (Total) | 97 | 190 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IG | Saxo | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | Saxo | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | Saxo | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | Saxo | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 60 | |
| Charting - Indicators / Studies (Total) | 33 | 64 | |
| Charting - Drawing Tools (Total) | 20 | 20 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Saxo | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | Saxo | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | Saxo | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Saxo | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review | Saxo Review |
| Overall | IG | Saxo | |
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| Education |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Saxo Review |
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