Written by ForexBrokers.com
In this head to head comparison of Saxo vs IronFX, 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 online brokers Saxo and IronFX, it’s clear that both have carved their niches in the financial world since their inception in 1992 and 2010, respectively. Saxo is unique in its dual identity as a bank and an online broker, providing a strong sense of security. Despite both not being publicly traded, Saxo's extensive regulatory coverage with 7 Tier-1 licenses and a Trust Score rating of 99 by ForexBrokers.com speaks volumes about its commitment to client trust. This score places Saxo in the highly trusted category.
IronFX, on the other hand, operates solely as an online broker without the added layer of being a bank. It holds 3 Tier-1 licenses, positioning it as a trusted broker, albeit with a slightly lower Trust Score rating of 83. While IronFX's regulatory framework is solid, it does not match Saxo's extensive coverage. This reflects Saxo’s strong emphasis on regulatory compliance and customer trustworthiness, making it a preferred choice for those prioritizing these aspects in online trading.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Year Founded | 1992 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing online brokers Saxo and IronFX based on their commissions and fees, Saxo stands out with superior pricing structures, especially for active and high-volume traders. Saxo offers competitive spreads, with average spread data for EUR/USD being 1.1, 1.0, and 0.9 pips for their Classic, Platinum, and VIP accounts, respectively. Notably, Saxo waives custody fees for share trading when opting into securities lending. Moreover, Saxo's Classic account now has a $0 minimum deposit, making it more accessible for new customers. Saxo has earned a commendable five-star rating and holds the #9 ranking in commissions and fees out of 62 brokers reviewed by ForexBrokers.com.
In contrast, IronFX has a pricing model that leaves room for improvement, as their spreads are usually higher than the market average. For example, their standard variable spread account lists a typical spread of 1.8 pips, but no specific date range is provided, and fees fluctuate with different account types. The zero fixed-spread account is noteworthy, though it carries a $18 per lot commission and wider spreads overnight, at 3 pips. IronFX has a four-star rating in this category and is ranked #47 out of 62 brokers in terms of commissions and fees.
In summary, Saxo offers excellent value for those who can meet the account minimums and achieve the trading volumes required for their higher-tier accounts, while IronFX may appeal less due to its relatively higher spreads and additional fees. Saxo clearly emerges as the favorable option if commissions and fees are a critical consideration, as indicated by its higher star rating and better industry ranking.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | 0.9 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and IronFX for their range of available investments, there are some significant differences. Saxo offers an extensive array of 70,000 tradeable symbols, far surpassing IronFX's offering of 340. Both brokers provide access to forex trading through CFDs or spot contracts, but Saxo offers nearly double the forex pairs, with 190 pairs compared to IronFX's 83. Additionally, Saxo enables clients to trade exchange-listed securities on both U.S. and international exchanges, allowing direct purchase of stocks like Apple and Vodafone, whereas IronFX lacks this feature.
For those interested in innovative trading options, both Saxo and IronFX support copy trading and the ability to trade cryptocurrency derivatives. However, neither broker offers the purchase of actual cryptocurrencies. Saxo stands out in terms of ratings, earning 5 out of 5 stars for its range of investments, and is ranked #3 out of 62 brokers by ForexBrokers.com. In contrast, IronFX holds a 3.5-star rating and is ranked #51 in the same category, showcasing Saxo's superior investment offerings.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 340 |
| Forex Pairs (Total) | 190 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | 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.
For traders looking to decide between Saxo and IronFX, both brokers offer a range of trading platforms and tools to consider. Saxo Trading Platform stands out with its in-house developed platform, which provides a seamless trading experience on both desktop and web-based platforms. Additionally, Saxo offers a virtual demo account and the ability to trade directly from stock charts, which is a plus for beginners. Traders will appreciate the extensive customization options in watch lists with up to 60 columns and 20 drawing tools for charting. Although Saxo does not support MetaTrader 4 or 5, it remains the top choice for its user-friendly and comprehensive trading tools, earning it a perfect five-star rating from ForexBrokers.com.
IronFX, on the other hand, provides popular platforms like MetaTrader 4, although it does not have an in-house developed platform. Like Saxo, IronFX also offers a virtual demo account alongside both desktop and web-based trading options. While IronFX matches Saxo with the ability to trade directly from stock charts and offer copy trading, it trails in customization, providing only seven columns for watch lists and 15 drawing tools for charting. Despite these functionalities, IronFX's rating of 3.5 stars and ranking of #60 out of 62 brokers by ForexBrokers.com indicates that its trading platforms and tools can benefit from further enhancements.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Saxo and IronFX, both platforms offer apps for iPhone and Android users. These apps provide essential features like stock and forex price alerts as well as the ability to draw trendlines and view multiple time frames on charts. However, Saxo outshines IronFX with advanced functionalities. Saxo allows users to sync watchlists between the mobile app and their online account, a feature that IronFX lacks. Additionally, Saxo’s app includes a comprehensive set of 64 technical studies for charting, while IronFX offers only 30.
Saxo’s mobile app receives high praise, earning a 5-star rating for its mobile trading experience compared to IronFX, which is rated at 3.5 stars. Furthermore, Saxo ranks impressively at number 2 out of 62 brokers on ForexBrokers.com for mobile trading apps, whereas IronFX lags behind at number 61. Both apps allow users to create watchlists with real-time quotes, but Saxo's superior integration and technical offerings make it a top choice for traders seeking a seamless mobile trading experience.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| 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 Saxo and IronFX for market research offerings, both provide traders with daily market commentary and access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. Saxo differentiates itself by offering advanced tools such as Autochartist for technical and fundamental analysis, along with a sentiment-based trading tool that reveals long or short position ratios across various instruments. In contrast, IronFX offers technical analysis through Trading Central but lacks sentiment-based tools and resources from Autochartist.
Additionally, both Saxo and IronFX provide an economic calendar to keep users informed about current and upcoming global news events; however, neither offers research tools from TipRanks or Acuity Trading. In terms of research quality, Saxo receives higher acclaim with a 5-star rating and holds the top spot out of 62 brokers according to ForexBrokers.com. On the other hand, IronFX holds a 4-star rating and ranks 28th, presenting a slightly less comprehensive research experience for traders.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Saxo and IronFX provide a wide range of materials to help newcomers understand forex and CFDs trading. Each broker offers a collection of at least ten informative articles, videos, and archived webinars primarily focused on these topics. Furthermore, both Saxo and IronFX have a searchable archive of recorded client webinars and a dictionary with definitions for over 50 investing terms, which can be particularly helpful for those new to trading.
However, there are notable differences between the two. Saxo stands out by offering monthly online educational webinars and a selection of more than ten advanced educational videos for seasoned traders, options that are not available with IronFX. These elements contribute to Saxo's stronger overall education rating of five stars compared to IronFX's four stars. This commitment is further reflected in Saxo's higher ranking in the Education category by ForexBrokers.com, where it holds the 13th spot among 62 brokers, while IronFX ranks 44th. Overall, Saxo seems to offer a more extensive educational experience for both beginners and advanced traders alike.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Saxo is better than IronFX. Saxo finished with an overall rank of #3, while IronFX finished with an overall rank of #48.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both Saxo and IronFX do not allow the purchase of actual cryptocurrencies, but they do provide the option to trade in cryptocurrency derivatives.
When comparing Saxo and IronFX for online trading, both brokerages offer Visa or Mastercard and bank wires as options for depositing or withdrawing funds, but neither provides ACH, SEPA, or PayPal services, with IronFX having the additional advantage of accepting Skrill for transactions.
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 | Saxo | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Saxo Review |
| Broker Screenshots | Saxo | IronFX | |
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| Regulation | Saxo | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1992 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 340 | |
| Forex Pairs (Total) | 190 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | 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 | Saxo | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.9 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Saxo | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| 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 | Saxo | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | IronFX | |
|---|---|---|---|
| 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 | Saxo Review |
| Overall | Saxo | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Saxo Review |
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