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Saxo vs IC Markets 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Saxo vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Saxo
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 70000
IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 84
  • Tradeable Symbols (Total): 3583

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.

Regulation

When selecting an online broker, it's crucial to consider their trustworthiness and regulatory standing. Saxo, established in 1992, offers a significant edge in trust with a ForexBrokers.com Trust Score of 99 out of 99. With no listing on the stock exchange but operating as a bank, Saxo commands high trust backed by seven Tier-1 licenses and one Tier-2 license, demonstrating a robust regulatory framework.

In comparison, IC Markets was founded in 2007 and holds a solid ForexBrokers.com Trust Score of 84, placing it in the trusted category. However, it does not hold any Tier-2 licenses and is not a bank, operating with two Tier-1 licenses. While not publicly traded, IC Markets maintains a good level of trust but does not reach the towering regulatory stature of Saxo.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Year Founded info 1992 2007
Publicly Traded (Listed) info No No
Bank info Yes No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 3

Fees

When comparing Saxo and IC Markets for commissions and fees, both brokers offer compelling pricing structures that cater to different types of traders. Saxo delivers outstanding all-around pricing, particularly for active and high-volume traders who can maintain large account balances. With average EUR/USD spreads of 1.1, 1.0, and 0.9 pips for Classic, Platinum, and VIP accounts respectively, Saxo's Platinum and VIP accounts align closely with industry averages. Notably, Saxo’s Classic account is commission-free for forex trading, though a $3 ticket fee applies if trading less than 50,000 units per month. For its exceptional services, Saxo is rated 5 stars and ranked #9 out of 63 brokers by ForexBrokers.com.

On the other hand, IC Markets is celebrated for its small effective spreads and low deposit requirements, making its trading costs competitive with some of the top low-cost brokers like IG and CMC Markets. IC Markets features three account types: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account is particularly notable, offering an all-in EUR/USD trading cost of 0.62 pips, thanks to its 0.6 pip commission that's slightly lower than its MetaTrader counterpart. IC Markets’ pricing excellence earned it a 5-star rating and a #5 ranking in the Commissions & Fees category by ForexBrokers.com.

Both Saxo and IC Markets offer high-quality pricing models that cater to various trader needs, with IC Markets being slightly more favorable for those seeking lower deposit thresholds and competitive commission-based accounts. Saxo, however, stands out with its loyalty program, especially for investors eyeing to upgrade to Platinum or VIP status for more savings and exclusive services.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Minimum Deposit info $0 $200
Average spread (EUR/USD) - Standard account info 1.1 info 0.62 info
All-in Cost EUR/USD - Active info 0.9 info 0.62 info
Non-wire bank transfer info No No
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Saxo and IC Markets both let you trade forex as CFDs or spot, and both support copy trading and cryptocurrency CFDs (but not actual crypto). Where they differ is depth. Saxo lists about 70,000 tradeable symbols and 190 forex pairs, dwarfing IC Markets’ 3,583 symbols and 61 pairs. Saxo also offers exchange‑traded shares on both U.S. and international exchanges, so you can buy stocks like Apple and Vodafone directly. IC Markets provides exchange‑traded shares on international markets only, not U.S. exchanges.

On range of investments, ForexBrokers.com rates Saxo 5 stars and ranks it #3 out of 63 brokers, while IC Markets earns 4.5 stars and ranks #26. In short, Saxo suits investors who want a very large product lineup with direct share dealing across global markets, whereas IC Markets appeals to traders who prioritize CFDs and forex with a leaner, still varied selection and access to copy trading.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 3583
Forex Pairs (Total) info 190 61
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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.

Trading platforms and tools

Saxo and IC Markets both check the key boxes for traders: each offers a free demo (paper) account, web-based trading, a Windows desktop platform, copy trading, and the ability to place trades directly from charts. The main difference is platform choice. Saxo provides its own in-house platform, giving you a unified experience across web and desktop, while IC Markets does not have a proprietary platform but supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5)—ideal if you prefer the MetaTrader ecosystem and its third-party tools.

For Trading Platforms and Tools, ForexBrokers.com rates Saxo 5 out of 5 stars and ranks it #1 out of 63 brokers, whereas IC Markets earns 4 out of 5 stars and ranks #16. In short: pick Saxo if you want a top-rated, broker-built platform experience; pick IC Markets if MT4/MT5 compatibility is your priority, alongside copy trading and strong chart-trading workflows.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 64 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Saxo and IC Markets both offer full-featured mobile trading apps for iPhone and Android, with price alerts, trendline drawing, and auto-saved chart annotations. The key differences: Saxo syncs watchlists between mobile and web (IC Markets does not), and Saxo packs in 64 technical studies versus 30 at IC Markets. Independent ratings echo this gap: Saxo’s mobile app is rated 5 stars and ranked #2 out of 63 brokers by ForexBrokers.com, while IC Markets earns 4 stars and ranks #22.

If you value advanced charting tools and seamless watchlist syncing across devices, Saxo’s app stands out. If you’re content with essential indicators and drawing tools on both iPhone and Android, IC Markets still delivers a capable mobile experience, just with fewer indicators and no cross-platform watchlist sync.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 64 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing Saxo and IC Markets, both online brokers provide comprehensive market research tools, including daily market commentary and timely forex news from high-profile sources like Bloomberg and Reuters. They also offer valuable technical analysis features from Autochartist, as well as sentiment-based trading tools that display the ratio of long or short positions across various instruments. Additionally, both brokers support economic calendars that track significant global financial events. However, where they differ lies in their associations with other research tools; Saxo does not incorporate services from Trading Central, unlike IC Markets, which enhances its offerings with these technical analytic tools.

Despite some similarities, Saxo is considered the superior choice when it comes to research quality and breadth, receiving a 5-star research rating compared to IC Markets' 4 stars. Furthermore, Saxo holds the top ranking in ForexBrokers.com’s research category out of 63 brokers, while IC Markets is positioned at number 23. Saxo's leading edge in research is reflected in its diverse range of tools and insights, marking it as a top choice for those who value excellence in market analysis.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central info No Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Saxo and IC Markets both give beginners plenty of forex and CFD education. Each offers at least 10 beginner-focused video lessons, at least 10 advanced videos for when you’re ready to go deeper, and ongoing client webinars every month. That mix of videos, webinars, and trading guides makes it easier to learn the basics, build skills, and keep up with market themes.

For overall quality, Saxo earns 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com, while IC Markets earns 4 stars and ranks #16 out of 63. If you want the highest-rated learning experience with a deep video library and frequent webinars, Saxo stands out. If you’re after a close alternative with similar beginner coverage and regular webinars, IC Markets is a solid choice.

Feature Saxo logoSaxo
IC Markets logoIC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than IC Markets. Saxo finished with an overall rank of #3, while IC Markets finished with an overall rank of #20.

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 logoSaxo
IC Markets logoIC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 84
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Saxo or IC Markets?

Saxo vs IC Markets: neither online broker lets you buy actual delivered cryptocurrency, but both offer cryptocurrency CFD trading.

What funding options does each broker offer?

Comparing deposit and withdrawal methods, Saxo and IC Markets both do not support ACH or SEPA and both accept bank wire transfers, but only IC Markets offers PayPal and Skrill, while Visa/Mastercard availability is not specified for either broker.




announcementPlease 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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Compare

0 of 5
Overall Rating Saxo IC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 99 84
Winner check_circle
Review Saxo Review IC Markets Review
Broker Screenshots Saxo IC Markets
Broker Gallery (click to expand) info
Regulation Saxo IC Markets
Trust Score info 99 84
Year Founded info 1992 2007
Publicly Traded (Listed) info No No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 3
Tier-1 Licenses (Highly Trusted) Saxo IC Markets
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info Yes
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Saxo IC Markets
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes info No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments Saxo IC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 3583
Forex Pairs (Total) info 190 61
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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 IC Markets
Average spread (EUR/USD) - Standard account info 1.1 info 0.62 info
All-in Cost EUR/USD - Active info 0.9 info 0.62 info
Inactivity Fee info Yes No
Order execution: Agency info Yes Yes
Order execution: Market Maker info Yes Yes
Funding Saxo IC Markets
Minimum Deposit info $0 $200
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info No No
Trading Platforms Saxo IC Markets
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No Yes
Trading Tools Saxo IC Markets
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 64 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo IC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 64 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research Saxo IC Markets
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central info No Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education Saxo IC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs Saxo IC Markets
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Saxo Review IC Markets Review
Overall Saxo IC Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 99 84
Winner check_circle
Review Saxo Review IC Markets Review
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