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 IG and Saxo for forex trading, both brokers are top contenders with a five-star rating, according to industry rankings. IG, ranked #8 out of 63 brokers by ForexBrokers.com, appeals to high-volume traders by offering scalable execution options and competitive pricing through its Forex Direct accounts. Traders on IG benefit from average spreads as low as 0.62 pips, and active traders can enjoy further discounts through a tiered rebate system. For those utilizing IG's Forex Direct platform, commission structures are determined by trading volume, which can dramatically lower effective spreads for high-volume traders.
On the other hand, Saxo, ranked #9, is acclaimed for its superior pricing across various account types. Saxo offers three account tiers—Classic, Platinum, and VIP—each with different pricing structures, catering to traders from beginners to seasoned investors. While the average spreads for the Classic account start slightly higher at 1.1 pips, they drop to 1.0 and 0.9 pips for Platinum and VIP accounts, aligning closer to the industry average. Saxo's commission-free model, which capitalizes on spreads, offers savings particularly for those who maintain larger account balances. Additionally, Saxo waives custody fees for traders involved in securities lending, providing added value for share traders.
Both brokers offer unique benefits tailored to various trading needs. IG shines by providing tailored execution methods and substantial rebates for active trading, while Saxo excels with its strong overall pricing and account flexibility. Whether you prioritize execution options or account perks, both IG and Saxo deliver competitive and high-rated services for forex trading enthusiasts.
| 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.
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When comparing the range of investments between IG and Saxo, both brokers cater to diverse financial interests with top ratings for their extensive offerings. IG provides clients access to 19,537 tradeable symbols, including 97 forex pairs, exchange-traded securities on both U.S. and international exchanges, and actual cryptocurrency purchases. They also provide options to trade cryptocurrency derivatives. However, IG does not offer copy trading. In contrast, Saxo surpasses IG in the number of tradeable symbols, boasting access to 70,000 options, including 190 forex pairs. Like IG, Saxo also facilitates trading of exchange-traded securities on U.S. and international platforms, but does not support the purchase of actual cryptocurrencies. Instead, they offer trading in cryptocurrency derivatives and the added feature of copy trading.
In terms of ratings, both IG and Saxo have achieved a perfect five-star rating for their investment range. In specific rankings related to the range of investments category, IG holds the #4 position on ForexBrokers.com among 63 brokers, while Saxo is positioned slightly higher at #3. This highlights their standing as leading platforms for investors seeking comprehensive investment choices. Each platform has its unique strengths, making them both competitive options for individuals interested in a wide array 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) | Yes | 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.
In the realm of trading platforms and tools, both IG and Saxo provide a comprehensive set of features suitable for various trader needs. IG stands out with its proprietary platform and the availability of MetaTrader 4, catering to traders who rely on well-known software. IG also offers a Windows-based desktop platform, a web-based browser platform, and allows trading directly from stock charts. One of its strengths is the option for a free virtual demo account, aiding new traders in refining their strategies before diving into live trading. Although IG lacks copy trading capabilities like DupliTrade or ZuluTrade, it supports distinctive charting functionalities with 20 drawing tools and 5 customizable watchlist columns.
Meanwhile, Saxo shines with its strong proprietary platform and extensive web-based trading options, yet it steps away from the traditional by not offering MetaTrader 4. Notably, Saxo excels in providing copy trading features, an advantageous tool for those who wish to mirror the strategies of successful traders. Like IG, Saxo provides a demo account and enables trading directly from chart features, supporting a seamless trading process. While both brokers offer a full range of drawing tools for charting, Saxo offers a significant advantage in customizability, with 60 available columns for watchlists. With top ratings for their trading platforms, Saxo edges out narrowly by securing the number one ranking over IG’s number two spot according to ForexBrokers.com.
| 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 apps, both IG and Saxo offer excellent options for iPhone and Android users. Each provides essential features like real-time price alerts, seamless watchlist syncing with their online accounts, and the ability to draw trendlines on stock or forex charts. While both apps allow users to view multiple time frames and offer the convenience of auto-saving chart drawings, they also support the creation of watchlists with up-to-the-minute quotes. These features ensure a smooth and effective trading experience across devices.
However, when diving into technical charting features, Saxo takes a slight edge by offering a choice of 64 technical studies compared to IG's 33. Despite this difference, both platforms received top ratings for their mobile trading apps, each earning a perfect five-star score. In terms of rankings by ForexBrokers.com, IG holds the top spot among 63 brokers, while Saxo follows closely in second place. Whether you prioritize extensive charting options or overall app performance, both IG and Saxo deliver impressive mobile trading solutions.
| 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 IG and Saxo, both brokers deliver high-quality services with some unique differences. IG and Saxo provide daily market commentary and share forex news updates from reputable sources like Bloomberg and Reuters, ensuring traders are well-informed. They also offer technical analysis tools from Autochartist, helping users make informed trading decisions. However, neither broker includes research tools from Trading Central. Additionally, both brokers present sentiment-based trading tools that highlight the ratio of long and short positions in the market and offer economic calendars to keep traders updated on global events.
IG and Saxo stand out in their research capabilities, each earning a 5-star rating for their offerings. While IG offers additional research tools from companies like TipRanks and Acuity Trading, Saxo doesn't provide these resources. Notably, Saxo ranks slightly higher in research on ForexBrokers.com, holding the top position among 63 brokers, while IG follows closely in second place. Thus, both platforms offer extensive market research, catering to the needs of traders with slightly different emphases.
| 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 comparing educational resources for beginners, both IG and Saxo offer a wealth of tools to enhance your forex and CFD trading knowledge. Each platform provides over ten educational pieces, including articles, videos, and archived webinars focused on forex or CFDs. Beginners can take advantage of regular monthly webinars, offering a chance to learn directly from experts. Both platforms also provide a searchable archive of past webinars for further learning at your own pace. For those just starting out, IG and Saxo each offer more than ten beginner-focused videos covering essential trading topics.
In addition to beginner resources, IG and Saxo cater to more seasoned traders with over ten advanced educational videos available on each platform. They both provide robust investor dictionaries, explaining more than 50 investment terms, which can be invaluable for beginners trying to navigate the trading world. Both platforms earn a perfect 5-star rating for education; however, IG holds a top rank as the number one educational resource among 63 brokers on ForexBrokers.com, while Saxo holds a respectable thirteenth position. Whether you're starting your trading journey or looking to deepen your understanding, both IG and Saxo offer comprehensive educational support.
| 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 63 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
|
Saxo
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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While both IG and Saxo provide the ability to trade cryptocurrency derivatives, only IG permits buying actual delivered cryptocurrencies, unlike Saxo.
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) | Yes | 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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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Saxo Review |
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