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 |
IG and Saxo both earn 5 stars for commissions and fees, but they appeal to slightly different traders. IG ranks #7 out of 36 brokers for this category and stands out for active traders who want tight pricing through its Forex Direct DMA account, where EUR/USD spreads averaged 0.62 pips in July 2023 and the all-in cost could fall to about 0.82 pips after commission. IG is not a low-cost discount broker overall, but it does offer competitive pricing for high-volume traders, including spread rebates for eligible professional clients.
Saxo also earns 5 stars and ranks #8 out of 36 brokers for commissions and fees. Its pricing is especially attractive for larger accounts and active traders, with average EUR/USD spreads in November 2023 of 1.1 pips on Classic, 1.0 pips on Platinum, and 0.9 pips on VIP. Saxo is commission-free for forex in most cases, though very small trades under 50,000 units per month can face a $3 per-side ticket fee. The biggest savings are available on Platinum and VIP accounts, while the Classic account is a bit pricier.
In simple terms, IG is often the better fit for traders looking for lower all-in costs through DMA-style pricing, while Saxo is a strong choice for high-balance clients who can qualify for better account tiers. Both brokers offer solid value, but IG edges Saxo slightly in the ForexBrokers.com ranking for commissions and fees.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Minimum Deposit | £1 | $0 |
| Average spread (EUR/USD) - Standard account | 0.91 | 1.0 |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and Saxo both give traders access to forex as CFDs or spot contracts, plus exchange-traded shares on both U.S. and international markets. Neither broker offers copy trading, and both let clients trade cryptocurrency CFDs. Where they differ is in choice: Saxo lists about 71,000 tradeable symbols and 190 forex pairs, while IG offers around 19,537 symbols and 97 forex pairs.
IG has one extra edge for crypto investors because it also supports buying actual, delivered cryptocurrency, while Saxo does not. Even so, both brokers are rated 5 out of 5 stars for Range of Investments. In ForexBrokers.com’s rankings, Saxo places slightly higher at #3 out of 36 brokers, with IG close behind at #4.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 71000 |
| Forex Pairs (Total) | 97 | 190 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | 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.
IG and Saxo both give traders a strong set of platform choices, including a free demo account, their own in-house trading platform, a Windows desktop app, and a web-based platform. Both also let users place trades straight from a chart, which can make it easier to react quickly to price moves. Neither broker offers copy trading, so traders looking for that feature will need to look elsewhere.
Where IG stands out is its support for MetaTrader 4 and MetaTrader 5, while Saxo does not offer either platform. That gives IG an edge for traders who prefer these popular tools or want access to the wider MT ecosystem. Both brokers earn 5 out of 5 stars for trading platforms and tools, but ForexBrokers.com ranks IG #1 out of 36 brokers in this category, ahead of Saxo at #3.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 33 | 61 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and Saxo both make it easy to trade on the go with iPhone and Android apps, plus price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. In other words, both mobile apps cover the core tools most traders want, and both earn top marks for mobile trading, with a 5-star rating for this category.
The main difference is in charting depth and industry ranking. IG offers 33 technical studies in its mobile app and is ranked #1 out of 36 brokers for mobile trading apps by ForexBrokers.com, while Saxo offers 64 technical studies and is ranked #3. If you want the widest choice of chart indicators, Saxo has the edge; if you care most about the highest overall mobile app ranking, IG comes out ahead.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 64 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IG and Saxo both offer excellent market research tools, with each broker earning 5 stars for Research. Both platforms provide daily market commentary, forex news from trusted names such as Bloomberg and Reuters, Autochartist tools, a sentiment indicator showing long and short positioning, and an economic calendar for tracking global events. In other words, each broker gives traders a solid mix of news, chart-based analysis, and market timing tools to help with day-to-day decisions.
The main difference is in the extra research add-ons. IG includes TipRanks market research and Acuity Trading tools such as Signal Centre, while Saxo does not offer those. Saxo does, however, edge ahead overall, ranking #1 out of 36 brokers for Research on ForexBrokers.com, compared with IG’s #2 ranking. For most traders, both brokers are strong choices for market research, but Saxo has the slight lead overall, while IG offers a few more third-party research options.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and Saxo both give beginner traders plenty of ways to learn, with forex and CFD education, monthly live webinars, and at least 10 beginner videos as well as 10 advanced videos. In simple terms, both brokers make it easy to find learning material whether you are just starting out or already have some trading experience. Each also earns a 5-star Education rating, so on paper they are very close when it comes to helping clients build trading knowledge.
That said, IG has a slight edge in the Education category overall. ForexBrokers.com ranks IG #7 out of 36 brokers for education, while Saxo sits at #12 out of 36. So while both are strong choices for educational content, IG is the better pick if you want the higher-ranked broker for learning resources, especially for beginners looking for clear and regular trading education.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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
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Saxo
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
| Range of Investments |
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| Research |
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IG vs Saxo: IG lets you buy real (delivered) cryptocurrencies and trade cryptocurrency CFDs, while Saxo offers only crypto CFDs and does not support purchasing actual cryptocurrencies.
IG vs Saxo deposits and withdrawals: IG offers ACH/SEPA transfers, PayPal, and bank wires (no Skrill), while Saxo offers bank wires only (no ACH/SEPA, PayPal, or Skrill); Visa/Mastercard availability is not specified for either.
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 (FSA 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IG | Saxo | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 71000 | |
| Forex Pairs (Total) | 97 | 190 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | 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 account | 0.91 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IG | Saxo | |
|---|---|---|---|
| Minimum Deposit | £1 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | IG | Saxo | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | IG | Saxo | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 61 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 64 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | Saxo | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | Saxo | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IG | Saxo | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IG Review | Saxo Review |
| Overall | IG | Saxo | |
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| Research |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Saxo Review |
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