Interactive brokers vs. Saxo Bank
Comparison: Interactive brokers vs. Saxo Bank – Which broker is better? A quick comparison of platform, fees, deposits, withdrawals and regulation.
Winner of this comparison: Interactive brokers with an overall rating of 50%
Basic information
| Basic information |  Interactive brokers |  Saxo Bank |
|---|---|---|
| Deposit | 10 EUR/USD | 2000 EUR/USD |
| Spreads | 1 EUR/USD | 2 EUR/USD |
| Established | 1978 | 1992 |
| Currency Pairs (Total Forex pairs) | 22 | 182 |
| Country | UK | Denmark, UK |
| Regulation | Authorised in the European Union (EU) | FCA (UK), ASIC (Australia), Cysec |
| Trading app | Desktop Platform (Windows), Web Platform | Web Platform |
| Number of CFD asset classes | 5 | 5 |
| Broker type | ECN, STP | ECN, STP |
| Support | Phone, Mail, Chat | Phone, Mail, Chat |
| Funding methods | * Some of the payment methods may not be available in your country. Visa/Mastercard, Bank Wire | * Some of the payment methods may not be available in your country. Visa/Mastercard, Bank Wire |
| Real Stocks and ETFs | Yes | Yes |
*The value is indicative from the broker's website. The spread amount is variable.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 61 % 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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 61 % 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.
Comparison Result
In terms of overall rating, both brokers are equal – both have 50%. Interactive brokers requires a minimum deposit of 10 EUR/USD, while Saxo Bank sets it at 2000 EUR/USD. Thanks to the lower deposit, Interactive brokers is more welcoming to traders with smaller budgets. For Interactive brokers, the spread is 1 EUR/USD, while for Saxo Bank it is 2 EUR/USD. Tighter spreads make Interactive brokers a more advantageous choice. Interactive brokers offers 22 forex pairs, while Saxo Bank provides 182. More options come with Saxo Bank. Interactive brokers was founded in 1978, while Saxo Bank has been operating since 1992. The longer tradition of Interactive brokers means greater experience. Both brokers allow trading with real stocks. Interactive brokers is overseen by 1 regulatory bodies, while Saxo Bank has 3. Stricter oversight at Saxo Bank gives it an advantage. Interactive brokers supports 2 platforms, while Saxo Bank offers 1. A greater choice of platforms gives Interactive brokers the lead.
50%
Interactive brokers
45%
Saxo Bank
Key Strengths
Interactive brokers
- Extremely low fees
- Wide range of products
- Many great research tools
- Low margin rates
- No inactivity fee and no withdrawal fee
Saxo Bank
- Fully licensed European company with strong backing
- More suitable for professional traders
- Proprietary trading platforms
- Competitive trading spreads
- Really large number of trading instruments
Comparison by Categories
Comprehensive Comparison: Interactive brokers vs Saxo Bank
Interactive brokers Saxo Bank Investments
62 % 62 %| Investments | Interactive brokers | Saxo Bank |
|---|---|---|
| Currency Pairs (Total Forex pairs) | 22 | 182 |
| CFDs – Total Offered | 100+ | 201+ |
| Options CFD | Yes | No |
| Share CFDs | No | Yes |
| Forex CFD | Yes | Yes |
| Commodities CFD | Yes | Yes |
| ETF CFD | Yes | Yes |
| Indicies CFD | Yes | Yes |
| Cryptocurrency traded as actual | No | No |
| Cryptocurrency traded as CFD | No | No |
Cost
80 % 80 %| Cost | Interactive brokers | Saxo Bank |
|---|---|---|
| Average Spread EUR/USD *The value is indicative from the broker's website. The spread amount is variable. | 1 | 2 |
| Deposit from | 10 | 2000 |
| Account fee | No | No |
| Inactivity fee | Yes | Yes |
| Active Trader or VIP Discounts | No | No |
| Withdrawal fees | No | No |
| Deposit fees | No | No |
Trading app
29 % 14 %| Trading app | Interactive brokers | Saxo Bank |
|---|---|---|
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy-Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Currenex | No | No |
| cTrader | No | No |
Trading Tools
100 % 100 %| Trading Tools | Interactive brokers | Saxo Bank |
|---|---|---|
| Financial leverage | Yes | Yes |
| Virtual Trading (Demo) | Yes | Yes |
| Alerts – Basic Fields | Yes | Yes |
| Charting – Indicators / Studies (Total) | Yes | Yes |
| Charting – Drawing Tools (Total) | Yes | Yes |
| Charting – Trade From Chart | Yes | Yes |
| Stop-Loss | Yes | Yes |
| Finacial Calendar | Yes | Yes |
| Daily financial news | Yes | Yes |
| Order Type – Trailing Stop | Yes | Yes |
Research
83 % 83 %| Research | Interactive brokers | Saxo Bank |
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Social Sentiment – Currency Pairs | No | No |
| Economic Calendar | Yes | Yes |
| Research | Yes | Yes |
Education
100 % 67 %| Education | Interactive brokers | Saxo Bank |
|---|---|---|
| Has Education – Forex | Yes | Yes |
| Has Education – CFDs | Yes | Yes |
| Client Webinars | Yes | Yes |
| Videos – Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
| Education | Yes | No |
Forex
100 % 100 %| Forex | Interactive brokers | 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 |
Commodities
100 % 36 %| Commodities | Interactive brokers | Saxo Bank |
|---|---|---|
| Gold | Yes | Yes |
| Silver | Yes | Yes |
| WIT Oil | Yes | Yes |
| Brent Oil | Yes | Yes |
| Coffee | Yes | No |
| Cocoa | Yes | No |
| Soybeans | Yes | No |
| Rice | Yes | No |
| Corn | Yes | No |
| Platinum | Yes | No |
| Palladium | Yes | No |
Indicies
100 % 100 %| Indicies | Interactive brokers | Saxo Bank |
|---|---|---|
| DAX 40 | Yes | Yes |
| S&P 500 | Yes | Yes |
| Nasdaq | Yes | Yes |
| Dow Jones | Yes | Yes |
| Nikkei | Yes | Yes |
Cryptocurrencies
0 % 0 %| Cryptocurrencies | Interactive brokers | Saxo Bank |
|---|---|---|
| Bitcoin | No | No |
| Litecoin | No | No |
| Ethereum | No | No |
| Ripple | No | No |
| Neo | No | No |
| Stellar | No | No |
| Cardano | No | No |
| Tron | No | No |
| Monero | No | No |
| EOS | No | No |
Regulations
17 % 50 %| Regulations | Interactive brokers | Saxo Bank |
|---|---|---|
| Cysec | No | Yes |
| ASIC (Australia) | No | Yes |
| FCA (UK) | No | Yes |
| Authorised in the European Union (EU) | Yes | No |
| CFTC Registered (USA) | No | No |
| FINMA (Switzerland) | No | No |
Support
100 % 100 %| Support | Interactive brokers | Saxo Bank |
|---|---|---|
| Chat | Yes | Yes |
| Phone | Yes | Yes |
| Yes | Yes |
Overall
50 % 45 %| Overall | Interactive brokers | Saxo Bank |
|---|
Our Recommendations
Best for Interactive brokers
Thanks to comprehensive educational materials and a user-friendly platform, Interactive brokers is an ideal choice for new traders.
Best Platform Interactive brokers
The trading platform of broker Interactive brokers offers an intuitive interface and advanced features for efficient trading.
Lowest Costs
Both brokers have comparable fee structures and spreads.
Interactive brokers Saxo Bank