To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare IG Group vs Saxo Bank.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Both IG Group and Saxo Bank share a rating of 4.50 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. IG Group and Saxo Bank both are regulated in a major hub. IG Group is a publicly traded company, Saxo Bank isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Saxo Bank boasts an offering of 139 different currency pairs compared to IG Group's 91 available pairs.
To round out our comparison of IG Group vs Saxo Bank, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. IG Group has Meta Trader, Saxo Bank doesn't. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. IG Group boasts an offering of 31 charting tools compared to Saxo Bank's 17 available charting tools. Saxo Bank trails IG Group by 6 total different indicators (for example, moving averages), with IG Group offering 51 and Saxo Bank offering 45.
Overall, both IG Group and Saxo Bank are rated 5.00 stars. And, when it comes to individual category awards, Saxo Bank finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while IG Group came up with Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education.