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Interactive Brokers vs Saxo 2026

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025
  Fact Checked

In this head to head comparison of Interactive Brokers vs Saxo, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 8500
Saxo
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 71000

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 vs Saxo: Both online brokers earn a 99/99 Trust Score from ForexBrokers.com, the highest possible rating. Interactive Brokers was founded in 1977, is publicly traded, and is not a bank. Saxo was founded in 1992, is not publicly traded, and is a bank. For regulation, Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, while Saxo holds 7 Tier-1 licenses and 1 Tier-2 license (Tier-1 is viewed as highly trusted by ForexBrokers.com).

ForexBrokers.com’s Trust Score ranges classify brokers as follows: 90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and 59 or below not to be trusted. With scores of 99, both Interactive Brokers and Saxo sit at the top of the highly trusted range.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
Year Founded info 1977 1992
Publicly Traded (Listed) info Yes No
Bank info No Yes
Tier-1 Licenses info 8 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, but they take different approaches to pricing. Interactive Brokers ranks #2 out of 36 brokers and is known for low-cost forex trading with commission-based pricing rather than spread markups. For EUR/USD, IBKR’s average spread in Q3 2024 was 0.19 pips, with an estimated all-in cost of about 0.59 pips after commission. Its minimum forex commission is $2 per side, which can make smaller trades more expensive, but active traders may qualify for lower rates.

Saxo also scores 5 stars, but ranks #8 out of 36 brokers for commissions and fees. Its pricing is especially attractive for active traders, high-volume traders, and larger account holders. As of November 2023, average EUR/USD spreads were 1.1 pips for Classic, 1.0 pips for Platinum, and 0.9 pips for VIP. Saxo is commission-free for forex, since costs are built into the spread, although traders who trade less than 50,000 units per month pay a $3 per-side ticket fee.

In simple terms, Interactive Brokers is usually the better pick for traders who want very low forex pricing and do not mind paying commissions, while Saxo can be a strong choice for larger, more active traders who may benefit from lower spreads on higher account tiers. Both brokers offer competitive pricing, but IBKR stands out for lower overall forex trading costs, while Saxo’s best rates are tied more closely to account size and trading volume.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
Minimum Deposit info $0 $0
Average spread (EUR/USD) - Standard account info 0.226 info 1.0 info
All-in Cost EUR/USD - Active info 0.226 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.

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Range of investments

When it comes to range of investments, both Interactive Brokers and Saxo give traders access to forex, U.S. exchange-traded shares like Apple, and international stocks such as Vodafone. Neither broker offers copy trading. Both also earn top marks for investment choice, with a 5-star rating for Range of Investments. Still, Interactive Brokers has the edge in independent rankings, taking the #1 spot out of 36 brokers, while Saxo ranks #3.

The main difference is in product depth. Saxo lists a much larger number of tradeable symbols overall, with about 71,000 compared with 8,500 at Interactive Brokers, and it offers more forex pairs too, with 190 versus 90. On the crypto side, Interactive Brokers lets clients buy actual cryptocurrency, while Saxo does not; Saxo instead offers cryptocurrency CFDs, which Interactive Brokers does not. That makes both brokers strong choices for market access, but each one stands out in different areas.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
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 No 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 and Saxo both give traders a strong set of platform choices, including a proprietary platform, a Windows desktop app, and a web-based trading platform. Each broker also offers free simulated paper trading, so beginners can practice before trading real money, and both let you place trades directly from a stock chart. Neither broker supports copy trading, MetaTrader 4, or MetaTrader 5, so if you want those tools, you will need to look elsewhere.

In ForexBrokers.com’s Trading Platforms and Tools category, both Interactive Brokers and Saxo earn 5 out of 5 stars, showing that each offers a well-rounded trading experience. Interactive Brokers is ranked #2 out of 36 brokers, while Saxo is ranked #3, putting them very close in overall quality. For traders comparing online brokers, both are solid choices for platform access and chart-based trading tools.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
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 give mobile traders a strong experience with iPhone and Android apps, plus stock and forex price alerts and watchlist syncing between the app and online account. Both apps also let users draw trendlines on charts, and each earns a top 5-star rating for mobile trading apps. In ForexBrokers.com’s ranking of 36 brokers, Saxo edges ahead at #3, while Interactive Brokers follows closely at #4.

The biggest difference is in charting tools and drawing features. Interactive Brokers offers 155 technical studies in its mobile charting tools, which is far more than Saxo’s 64. Saxo, however, has a useful advantage because chart drawings are automatically saved in the app, while Interactive Brokers does not auto-save them. For traders who want a wider range of indicators, Interactive Brokers stands out; for those who prefer saved chart markings and a slightly higher category ranking, Saxo has the edge.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
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 155 64
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info No Yes

Dive deeper: Best Forex Trading Apps.

Market research

Interactive Brokers and Saxo both give traders helpful daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool for seeing whether traders are mostly long or short, and an economic calendar for tracking key global events. Both firms also earn a top 5-star rating for research, showing that each offers a strong set of market insights for everyday trading decisions.

The main differences come down to the extra tools each platform includes. Interactive Brokers offers Trading Central, TipRanks, and Acuity Trading tools, which may appeal to traders looking for more outside analysis and idea generation. Saxo, on the other hand, includes Autochartist, a useful tool for spotting possible chart patterns and trade setups. In ForexBrokers.com’s research rankings, Saxo places first out of 36 brokers, while Interactive Brokers ranks third.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
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

When it comes to learning resources for beginners, Interactive Brokers and Saxo both give new traders plenty of support. Each offers forex and CFDs education with at least 10 learning pieces, monthly online client webinars, and a solid library of beginner and advanced videos. Both brokers are also rated 5 stars for Education, so either one can help a beginner build knowledge at a steady pace.

The main difference is in third-party recognition. Interactive Brokers ranks #1 out of 36 brokers for the Education category at ForexBrokers.com, while Saxo ranks #12. That makes Interactive Brokers the stronger choice for educational support overall, especially for beginners who want more guided learning resources and a top-ranked education experience.

Feature Interactive Brokers logoInteractive Brokers
Saxo logoSaxo
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 logoInteractive Brokers
Saxo logoSaxo
Overall Rating info 5/5 Stars 5/5 Stars
Trust Score info 99 99
Range of Investments 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Education 5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or Saxo?

In the Interactive Brokers vs Saxo comparison for cryptocurrency trading, Interactive Brokers allows you to buy actual (delivered) cryptocurrency but not crypto CFDs, while Saxo does not offer delivered crypto and instead provides cryptocurrency exposure only via CFDs.

What funding options does each broker offer?

For depositing and withdrawing funds, Interactive Brokers supports ACH/SEPA and bank wire transfers, while Saxo offers bank wires only; neither broker supports PayPal or Skrill, and Visa/Mastercard availability is not specified for either.

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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Overall Rating Interactive Brokers Saxo
Overall Rating info 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 4/5 Stars
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
IBKR mobile watchlist. IBKR Desktop platform charts. Interactive Brokers research Traders Insight daily analysis article detail Interactive Brokers IBKR Podcast video.
Saxo SaxoTraderGO mobile charts. Saxo SaxoTraderGO web platform webinars SaxoTraderGO web platform US election geopolitical market event theme. Saxo's research daily articles forex market analysis
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 8 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 CMA 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 No 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 0.226 info 1.0 info
All-in Cost EUR/USD - Active info 0.226 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 155 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 5/5 Stars 5/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review Saxo Review
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