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IG Group vs Saxo Bank Review

Steven Hatzakis

Published by Steven Hatzakis


Thursday, August 16th, 2018

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.
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Overall
Offering of Investments
Commissions & Fees
Platform & Tools
Customer Service
Research
Mobile Trading
Education
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
FCA Regulated (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Advantage
All-in Cost EUR/USD - Active
Average Spread EUR/USD - Standard
Active Trader or Premium/VIP
Advantage
Proprietary
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader4 (MT4)
MetaTrader5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Advantage
Virtual Trading (Demo)
Watchlists - Total Fields
Alerts - Basic Fields
Charting - Trade From Chart
Charts can be saved
Charting - Drawing Tools (Total)
Charting - Indicators / Studies (Total)
Charting - Drawings Autosave
Order Type - Trailing Stop
Advantage
Android App
Apple iOS App
Forex News
Alerts - Basic Fields
Alerts Delivery - Push Notifications
Watch List
Watch List Syncing
Charting - Technical Studies/Indicators
Charting - Draw Trend Lines
Advantage
Daily Market Commentary
Forex News (Top-Tier Sources)
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forecasts
Economic News Sentiment
Trade Ideas - Backtesting
Advantage
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
USDMXN (or MXNUSD)
USDNOK (or NOKUSD)
USDSEK (or SEKUSD)
USDTRY (or TRYUSD)
USDZAR (or ZARUSD)
USDDKK (or DKKUSD)
USDBRL (or BRLUSD)
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Overall
Advantage
IG Group
IG Group Review
 
5
5
4.5
4.5
3.5
4.5
4
4.5
 
97
1974
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
Yes
No
Yes
 
Yes
91
15000
No
Yes
check_circle
 
0.363
0.75
Yes
 
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
 
Yes
12
Yes
Yes
Yes
9
22
No
Yes
 
Yes
Yes
Yes
Yes
No
Yes
Yes
26
Yes
 
Yes
Yes
Yes
No
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
£100.00
Yes
Yes
Yes
No
No
 
5
Saxo Bank
Saxo Bank Review
 
5
5
4.5
4.5
4
4.5
4
4
 
94
1992
No
Yes
Yes
No
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
 
Yes
139
9000
No
No
 
0.6
1
Yes
check_circle
 
Yes
Yes
Yes
Yes
No
No
No
No
No
No
check_circle
 
Yes
12
Yes
Yes
Yes
17
45
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
No
Yes
Yes
41
Yes
check_circle
 
Yes
Yes
Yes
No
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
No
 
$10,000.00
Yes
Yes
No
No
No
 
5
check_circle

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All data was obtained from a published web site as of 4/03/2018 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.

79% 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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