Interactive Brokers vs Saxo 2025

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.

Regulation

Interactive Brokers and Saxo are two reputable online brokers with strong regulatory standings, but there are some key differences. Founded in 1977, Interactive Brokers is a publicly traded company, while Saxo, established in 1992, also operates as a bank. Both brokers hold the highest Trust Score of 99 from ForexBrokers.com, indicating a high level of trust. In terms of licensing, Interactive Brokers holds 9 Tier-1 licenses and 2 Tier-2 licenses, while Saxo has 7 Tier-1 licenses and 1 Tier-2 license, reflecting their strong standing within the financial industry.

Overall, both Interactive Brokers and Saxo offer secure and well-regulated platforms for trading, with a slight edge in regulatory licenses in favor of Interactive Brokers. Their differences in company structure and trading status might appeal to different types of investors, with Interactive Brokers being ideal for those seeking a publicly traded entity, and Saxo being a suitable choice for those interested in a brokerage with banking capabilities.

Feature	Interactive Brokers	Saxo
Year Founded info	1977	1992
Publicly Traded (Listed) info	Yes	No
Bank info	No	Yes
Tier-1 Licenses info	9	7
Tier-2 Licenses info	2	1
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Fees

Interactive Brokers and Saxo both earn 5 stars for commissions and fees. That said, they take different paths to low costs. Interactive Brokers (ranked #2 of 63 by ForexBrokers.com) uses a commission-based model with very tight spreads, while Saxo (ranked #8 of 63) is spread-only for forex, with a small ticket fee for very small monthly volumes. If you trade standard lots or larger, Interactive Brokers often works out cheaper; if you prefer a spread-only setup and hold a sizable account, Saxo’s higher-tier pricing can be attractive.

Interactive Brokers doesn’t routinely publish average forex spreads, but in Q3 2024 we observed an average EUR/USD spread of 0.19 pips and an all-in cost of about 0.59 pips after commission. Commissions start at 0.00002 (0.2 bps) of trade value per side with a $2 minimum per order ($4 round turn), and can fall to 0.08 bps for exceptionally active traders. For a $100,000 EUR/USD trade, the commission is roughly 0.40 pips on top of the spread. IBKR aggregates quotes from 17 major interbank dealers and charges $16–$40 per million round turn ($8–$20 per side). Note the $2-per-side minimum makes sub-100k trades proportionally pricier. High-volume discounts reduce the minimum to $1.50 per order above $1B in monthly forex volume, and to $1 above $5B; large orders can be handled via RFQ. IBKR Lite and IBKR Pro support forex but are not commission-free.

Saxo is commission-free for forex (it earns from the spread), with average EUR/USD spreads of 1.1 pips on Classic, 1.0 on Platinum, and 0.9 on VIP; minimum spreads were about 0.2 pips lower than those averages during the period observed. A $3-per-side ticket fee applies if you trade less than 50,000 units per month. The Classic account minimum is $0; Platinum requires $200,000 (AUD 300,000 in Australia), and VIP is for deposits of $1,000,000 or via loyalty upgrades (e.g., roughly $40M in forex volume for Platinum, $167M for VIP, each valid for 12 months). Saxo also waives custody fees for share trading if you opt into securities lending. Compared side by side, IBKR’s commission-plus-spread model can deliver lower all-in costs for standard lots, while Saxo’s spread-only tiers suit traders who prioritize simplicity and maintain larger balances.

Feature	Interactive Brokers	Saxo
Minimum Deposit info	$0	$0
Average spread (EUR/USD) - Standard account info	0.59 info	1.0 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Non-wire bank transfer info	Yes	No
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

Interactive Brokers and Saxo both earn five stars for Range of Investments, with Interactive Brokers ranked #1 and Saxo #3 out of 63 brokers by ForexBrokers.com. Each broker supports forex trading in CFD and spot formats, offers exchange-traded securities on U.S. markets like Apple (AAPL) and on international exchanges such as London-listed Vodafone, and neither provides copy trading.

The main differences come down to scale and crypto access. Saxo leads on market breadth with about 71,000 tradeable symbols and 190 forex pairs, compared with Interactive Brokers’ 8,500 symbols and 90 forex pairs. Interactive Brokers, however, lets you buy actual cryptocurrency in addition to crypto CFDs, while Saxo offers crypto only as CFDs. Choose Saxo if you want the widest selection of markets and forex pairs, or pick Interactive Brokers if owning real crypto alongside a broad investment lineup matters to you.

Feature	Interactive Brokers	Saxo
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	71000
Forex Pairs (Total) info	90	190
U.S. Stocks (Shares) info	Yes	Yes
Global Stocks (Non-U.S. Shares) info	Yes	Yes
Copy Trading info	No	No
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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.

Trading platforms and tools

Interactive Brokers vs Saxo: both brokers check the key platform boxes. Each offers simulated (paper) trading with a virtual demo account, a proprietary trading platform built in-house, a Windows desktop download, and a web-based platform. Both let you trade directly from charts. Neither supports copy trading, and neither offers MetaTrader 4 (MT4) or MetaTrader 5 (MT5). If you want to test strategies, place trades from charts, and switch between desktop and browser, either broker can fit the bill.

According to ForexBrokers.com, both Interactive Brokers and Saxo earn 5 stars for Trading Platforms and Tools. In the 2024 ranking out of 63 brokers, Interactive Brokers places #2 while Saxo ranks #3. If a slightly higher ranking matters to you, Interactive Brokers has the edge, though Saxo sits close behind for platform quality.

Feature	Interactive Brokers	Saxo
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	No
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	No
Charting - Indicators / Studies (Total) info	155	61
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and Saxo both offer mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, and your watchlists sync between the app and your online account so changes appear everywhere. Both apps also let you draw trendlines on charts. Both are rated 5 stars for Mobile Trading Apps.

Charting tools differ slightly. Interactive Brokers includes 97 technical studies, while Saxo offers 64. Saxo auto-saves chart drawings; Interactive Brokers does not. According to ForexBrokers.com, Saxo ranks #3 out of 63 brokers for Mobile Trading Apps, and Interactive Brokers ranks #4. Choose Interactive Brokers for more built-in indicators, or pick Saxo if auto-saving drawings and a slightly higher ranking matter most.

Feature	Interactive Brokers	Saxo
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	64
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing the market research offerings of Interactive Brokers and Saxo, both platforms provide a substantial array of resources. They each deliver daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring users stay informed with reliable insights. However, Interactive Brokers extends its advantage with exclusive market research tools from TipRanks and Acuity Trading, which are not available through Saxo. Despite this, Saxo shines with its integration of Autochartist, a popular tool for technical analysis, whereas Interactive Brokers does not offer this feature.

Both brokers come equipped with sentiment-based trading tools and economic calendars to track global news events. While Interactive Brokers garners an impressive five-star research rating and holds the third position among 63 brokers for research, Saxo achieves not only a five-star rating as well but is also ranked as the top provider in this category. This suggests that although Interactive Brokers provides diverse research tools, Saxo's research is considered unparalleled by ForexBrokers.com, highlighting its superior overall research offering.

Feature	Interactive Brokers	Saxo
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
Client sentiment data info	Yes	Yes
TipRanks info	Yes	No
Acuity Trading info	Yes	No
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers vs Saxo for beginner education: both brokers make it easy to start learning. Each runs client webinars at least once a month and offers a sizable set of beginner-focused trading videos (10 or more) that walk through core concepts step by step.

As you grow, both also provide 10+ advanced videos to deepen your skills. Independent ratings back the quality: each earns 5 stars for Education, yet Interactive Brokers ranks #1 out of 63 brokers with ForexBrokers.com, while Saxo ranks #12. If you want the highest-rated education overall, Interactive Brokers has the edge; if you choose Saxo, you’ll still get excellent learning support.

Feature	Interactive Brokers	Saxo
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Saxo. Interactive Brokers finished with an overall rank of #2, while Saxo finished with an overall rank of #3.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature	Interactive Brokers	Saxo
Overall Rating info
Trust Score info	99	99
Range of Investments
Trading Fees
Trading Platforms
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	Saxo
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	Saxo Review

Broker Screenshots	Interactive Brokers	Saxo
Broker Gallery (click to expand) info

Regulation	Interactive Brokers	Saxo
Trust Score info	99	99
Year Founded info	1977	1992
Publicly Traded (Listed) info	Yes	No
Bank info	No	Yes
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info
Tier-1 Licenses info	9	7
Tier-2 Licenses info	2	1
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Tier-1 Licenses (Highly Trusted)	Interactive Brokers	Saxo
Australia (ASIC Authorised) info	Yes	Yes
Canada (CIRO Authorised) info	Yes	No
Hong Kong (SFC Authorised) info	Yes	Yes
Japan (FSA Authorised) info	Yes	Yes
Singapore (MAS Authorised) info	Yes	Yes
Switzerland (FINMA Authorised) info	Yes	Yes
United Kingdom (U.K.) (FCA Authorised) info	Yes	Yes
USA (CFTC Authorized) info	Yes	No
New Zealand (FMA Authorised) info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info

Tier-2 Licenses (Trusted)	Interactive Brokers	Saxo
Kenya (CMA Authorised) info
Israel (ISA Authorised) info	No	No
South Africa (FSCA Authorised) info	No	No
UAE (DFSA, FSRA, or SCA Authorised) info	Yes	Yes info
India (SEBI Authorised) info	Yes	No
Jordan (JSC Authorised) info

Investments	Interactive Brokers	Saxo
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	71000
Forex Pairs (Total) info	90	190
U.S. Stocks (Shares) info	Yes	Yes
Global Stocks (Non-U.S. Shares) info	Yes	Yes
Copy Trading info	No	No
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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	Interactive Brokers	Saxo
Average spread (EUR/USD) - Standard account info	0.59 info	1.0 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Inactivity Fee info	No	Yes
Order execution: Agency info	Yes	Yes
Order execution: Market Maker info	No	Yes

Funding	Interactive Brokers	Saxo
Minimum Deposit info	$0	$0
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes
Non-wire bank transfer info	Yes	No

Trading Platforms	Interactive Brokers	Saxo
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	No
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	No
cTrader info	No	No

Trading Tools	Interactive Brokers	Saxo
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	155	61
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	Interactive Brokers	Saxo
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	64
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	Interactive Brokers	Saxo
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
TipRanks info	Yes	No
Client sentiment data info	Yes	Yes
Economic Calendar info	Yes	Yes

Education	Interactive Brokers	Saxo
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Major Forex Pairs	Interactive Brokers	Saxo
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	Interactive Brokers Review	Saxo Review

Overall	Interactive Brokers	Saxo
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	Saxo Review