Is IG better than Saxo Bank? After testing 27 of the best forex brokers over five months, IG is better than Saxo Bank. Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2021.
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IG vs Saxo Bank 2021
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | IG | Saxo Bank |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| IG Review | Saxo Bank Review | |
| Winner | check_circle | |
| 75% of retail CFD accounts lose money | 70% of retail CFD accounts lose money |
Regulation
| Feature | IG | Saxo Bank |
| Trust Score | 99 | 99 |
|
Year Founded |
1974 | 1992 |
|
Publicly Traded (Listed) |
Yes | No |
|
Bank |
Yes | Yes |
|
Tier-1 Licenses |
6 | 6 |
|
Tier-2 Licenses |
3 | 1 |
|
Tier-3 Licenses |
1 | 0 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses (High Trust)
| Feature | IG | Saxo Bank |
|
ASIC Authorised (Australia) |
Yes | Yes |
|
IIROC Authorised (Canada) |
No | No |
|
SFC Authorised (Hong Kong) |
No | Yes |
|
FSA Authorised (Japan) |
Yes | Yes |
|
MAS Authorised (Singapore) |
Yes | Yes |
|
FINMA Authorised (Switzerland) |
Yes | Yes |
|
FCA Authorised (UK) |
Yes | Yes |
|
CFTC Registered (USA) |
Yes | No |
Investments
| Feature | IG | Saxo Bank |
|
Forex: Spot Trading |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
Currency Pairs (Total Forex pairs) |
104 | 170 |
|
CFDs - Total Offered |
19537 | 9000 |
|
Cryptocurrency traded as actual |
No | No |
|
Cryptocurrency traded as CFD |
Yes | No |
Cost
| Feature | IG | Saxo Bank |
|
Average Spread EUR/USD - Standard |
0.745 (August 2020) | 0.8 (August 2020) |
|
All-in Cost EUR/USD - Active |
0.365 (May 2020) | 0.6 (August 2020) |
|
Active Trader or VIP Discounts |
Yes | Yes |
Funding
| Feature | IG | Saxo Bank |
|
Minimum Initial Deposit |
£250.00 | $10,000.00 |
|
Bank Wire (Deposit/Withdraw) |
Yes | Yes |
|
Visa/Mastercard (Credit/Debit) |
Yes | Yes |
|
PayPal (Deposit/Withdraw) |
Yes | No |
|
Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | IG | Saxo Bank |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | Yes |
|
MetaTrader 5 (MT5) |
No | No |
|
cTrader |
No | No |
|
DupliTrade |
No | No |
|
ZuluTrade |
No | No |
Trading Tools
| Feature | IG | Saxo Bank |
|
Virtual Trading (Demo) |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watchlists - Total Fields |
14 | 58 |
|
Charting - Indicators / Studies (Total) |
30 | 58 |
|
Charting - Drawing Tools (Total) |
20 | 19 |
|
Charting - Trade From Chart |
Yes | Yes |
|
Charting - Drawings Autosave |
No | Yes |
|
Order Type - Trailing Stop |
Yes | Yes |
Mobile Trading
| Feature | IG | Saxo Bank |
|
Android App |
Yes | Yes |
|
Apple iOS App |
Yes | Yes |
|
Trading - Forex |
Yes | Yes |
|
Trading - CFDs |
Yes | Yes |
|
Alerts - Basic Fields |
Yes | Yes |
|
Watch List |
Yes | Yes |
|
Watch List Syncing |
Yes | Yes |
|
Charting - Indicators / Studies |
30 | 58 |
|
Charting - Draw Trendlines |
Yes | Yes |
|
Charting - Trendlines Moveable |
Yes | Yes |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Drawings Autosave |
Yes | Yes |
|
Forex Calendar |
Yes | Yes |
Research
| Feature | IG | Saxo Bank |
|
Daily Market Commentary |
Yes | Yes |
|
Forex News (Top-Tier Sources) |
Yes | Yes |
|
Weekly Webinars |
Yes | No |
|
AutoChartist |
Yes | Yes |
|
Trading Central (Recognia) |
No | No |
|
Delkos Research |
No | No |
|
Social Sentiment - Currency Pairs |
Yes | Yes |
|
Economic Calendar |
Yes | Yes |
Education
| Feature | IG | Saxo Bank |
|
Has Education - Forex |
Yes | Yes |
|
Has Education - 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
| Feature | IG | Saxo Bank |
|
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 |
Overall
| Feature | IG | Saxo Bank |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 99 | 99 |
| IG Review | Saxo Bank Review |
Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare IG vs Saxo Bank.
Does IG or Saxo Bank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Saxo Bank offers better pricing overall for traders.
Is IG or Saxo Bank safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Both IG and Saxo Bank hold 6 global Tier-1 licenses. IG holds 3 global Tier-2 licenses, while Saxo Bank holds 1. All regulators considered, both IG and Saxo Bank have a Trust Score of 99.00.
Which trading platform is better: IG or Saxo Bank?
To compare the trading platforms of both IG and Saxo Bank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found IG to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. IG and Saxo Bank both offer copy trading. Both IG and Saxo Bank offer MetaTrader 4 (MT4).
How many forex pairs and CFDs are available to trade?
Saxo Bank provides traders 170 currency pairs (e.g., EUR/USD) compared to IG's 104 available pairs. Forex pairs aside, IG offers traders access to 19537 CFDs while Saxo Bank has 9000 available CFDs, a difference of 10,537.
Overall winner: IG
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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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IG - 76% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money.
