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Saxo Bank vs IG 2019

Is IG Group better than Saxo Bank? After grading forex brokers on nearly 100 different variables, IG Group is better than Saxo Bank. Regulated and trusted across the globe, IG offers traders an extensive list of tradable products, excellent trading and research tools, industry leading education, and competitive rates. This fantastic all-round experience makes IG our No. 1 overall broker in 2019.
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 Saxo Bank IG
Overall 4.5 4.5
Saxo Bank Review IG Review
69% of retail CFD accounts lose money 74% of retail CFD accounts lose money

Regulation

Feature Saxo Bank IG
Trust Score 98 99
Year Founded
1992 1974
Publicly Traded (Listed)
No Yes
Bank
Yes Yes
Tier-1 Licenses
6 6
Tier-2 Licenses
1 3
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Saxo Bank IG
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes Yes
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
Yes Yes
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No Yes

Investments

Feature Saxo Bank IG
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
182 93
CFDs - Total Offered
35000 17535
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 4.5
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Cost

Feature Saxo Bank IG
Average Spread EUR/USD - Standard
0.6 (as of Sep 19) 0.7 (as of May 19)
All-in Cost EUR/USD - Active
0.6 (as of Sep 19) 0.363 (as of Mar 16)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4.5 4.5
Winner check_circle

Funding

Feature Saxo Bank IG
Minimum Initial Deposit
$10,000.00 £250.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature Saxo Bank IG
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature Saxo Bank IG
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 12
Charting - Indicators / Studies (Total)
55 28
Charting - Drawing Tools (Total)
19 17
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes No
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4.5
Winner check_circle

Mobile Trading

Feature Saxo Bank IG
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
41 28
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes
Mobile Trading 4.5 4
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Research

Feature Saxo Bank IG
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 4.5
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Education

Feature Saxo Bank IG
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
Education 4 4
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Major Forex Pairs

Feature Saxo Bank IG
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 Saxo Bank IG
Saxo Bank Review IG Review
Overall 4.5 4.5
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare IG Group vs Saxo Bank.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Both IG Group and Saxo Bank are rated 4.50 stars.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. IG Group alongside Saxo Bank are regulated in a major hub. IG Group is a publicly traded company, Saxo Bank isn't. How many currency pairs are available to trade? IG Group trails Saxo Bank by 91 total currency pairs (for example, EUR/USD), with Saxo Bank offering 182 and IG Group offering 91.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. IG Group offers Meta Trader while Saxo Bank does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 17. Saxo Bank boasts an offering of 47 different indicators (for example, moving averages) compared to IG Group's 22 available indicators.

IG Group Review
Saxo Bank Review


Trading CFDs, FX, and cryptocurrencies involves 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 web site as of 02/18/2019 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.

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.

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