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 |
If you’re comparing IG and Saxo on trading costs, both score 5 out of 5 stars for commissions and fees. IG is ranked #7 out of 63 brokers, while Saxo is #8. IG tends to suit very active traders and those placing larger forex orders thanks to its Direct Market Access (DMA) option, while Saxo offers straightforward, spread-only pricing that improves with higher-tier accounts.
IG: On its spread-only CFD account, typical EUR/USD spreads averaged 0.69 pips during the main session in July 2023 (0.98 pips across all sessions; 1.18 pips at IG US), and spreads can widen in thin liquidity (about 1.03 pips during off-hours that month). For eligible professionals, active-trader rebates reduce spreads by 10% above £50M in monthly forex volume and up to 20% above £300M—potentially bringing costs close to 0.60 pips. IG’s Forex Direct (DMA) account averaged 0.62 pips on EUR/USD in July 2023; the all-in cost depends on volume-based commissions, from $60 per million at the base tier to $10 per million per side above $1.5B monthly volume—yielding an all-in cost around 0.82 pips on that data.
Saxo: Forex trading is commission-free (you pay the spread), with average EUR/USD spreads of 1.1 pips for Classic, 1.0 for Platinum, and 0.9 for VIP as of November 2023; minimum spreads were about 0.2 pips lower. Classic has a $0 minimum deposit, Platinum requires $200,000, and VIP typically needs $1,000,000 or a loyalty upgrade. A $3 per-side ticket fee applies if you trade under 50,000 units per month, and custody fees for share trading are waived if you opt into securities lending. Saxo is rated 5/5 stars and ranked #8/63 for commissions and fees; IG is rated 5/5 stars and ranked #7/63.
| 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 deliver a very wide range of investments and allow forex trading via CFDs and spot. Saxo lists more total markets, with about 71,000 tradeable symbols and 190 forex pairs, while IG offers roughly 19,537 symbols and 97 forex pairs. Both earned 5 stars for Range of Investments, with Saxo ranked #3 and IG close behind at #4 out of 63 brokers by ForexBrokers.com.
When it comes to asset types, both brokers let you buy exchange‑traded shares on U.S. markets (like Apple) and on international exchanges (such as Vodafone). Each supports cryptocurrency CFDs; however, only IG also lets you buy actual crypto, not just derivatives. Neither platform offers copy trading. If you want the largest menu of markets and currency pairs, Saxo stands out; if direct crypto ownership matters alongside a broad selection of markets, IG is a strong pick.
| 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 vs Saxo on trading platforms and tools: both offer free demo accounts for paper trading, in-house platforms, Windows desktop downloads, and web-based platforms. Both support placing trades directly from charts, and neither offers copy trading. According to ForexBrokers.com, each earns 5 stars for platforms and tools; IG ranks #1 out of 63 brokers, while Saxo ranks #3.
Key platform difference: IG also supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Saxo does not and focuses on its own platform suite. Counts for built-in technical indicators and watch-list fields aren’t specified here, but both deliver the core charting and order-entry features most traders need. Choose IG if MT4/MT5 access matters; choose Saxo if you prefer its in-house platform experience.
| 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 offer polished mobile trading apps for iPhone and Android. Each supports stock and forex price alerts and watchlist syncing with your online account, so updates you make on your phone or desktop stay in step.
For charting, IG includes 33 technical studies while Saxo provides 64, giving Saxo the edge if you want more indicators. Both apps let you draw trendlines and automatically save your drawings. According to ForexBrokers.com, each earned 5 stars for Mobile Trading Apps; IG ranks #1 out of 63 brokers, while Saxo ranks #3. Pick IG for the top overall placement, or choose Saxo if a larger indicator set matters most.
| 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.
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 (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 provide beginner-friendly trading education that covers forex and CFDs. Each broker runs ongoing client webinars (at least one per month) and offers sizable video libraries with at least 10 beginner videos, plus another 10 or more videos aimed at experienced traders. This mix of live sessions and on-demand lessons makes it easy to learn the basics, then move into more advanced topics at your own pace.
Both brokers earn 5 stars for Education from ForexBrokers.com, signaling high overall quality. If rankings matter to you, IG is placed 7th out of 63 brokers for Education, while Saxo is 12th. In short, beginners can feel confident with either choice, with IG holding a slight edge in the standings.
| 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 |
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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 SCA 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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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Saxo Review |
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