Comparison of IG and Saxo
| Feature | IG | Saxo |
|---|---|---|
| Broker | ||
| Year Founded | 1974 | 1992 |
| Broker Type | MM, DMA | DMA |
| Dealing | B-book, A-book | A-book |
| Execution | Market | Market |
| Regulation | FCA, BMA, BaFin, FSAN, AFM, CONSOB, CNMV, ACPR, FI, FINMA, NFA, CFTC, ASIC, NZ FMA, JFSA, JFFA, MAS, FSCA, DFSA | Danish FSA, FCA, MAS, FINMA |
| Platforms | MetaTrader 4 (MT4), IG Trading Platform, L2 Dealer | SaxoTraderGO, SaxoTraderPRO, TradingView |
| Spread | ⮕ Average | ⮕ Average |
| Maximum Leverage | 1:200 | 1:30 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, CHF, AUD, NZD, JPY, NOK, SEK, SGD, HKD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
| Funding Methods | Bank Wire, Credit Card, Debit Card, PayPal | Bank Wire, Credit Card, Debit Card |
| Inactivity Fee | $18 per month after 24 months | ✖ |
| Interest on Margin | ✖ | ✔ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | Danish Guarantee Fund, UK FSCS |
| Protection Size | £85 000 / €20 000 | DKK 100 000 / £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✔ | ✖ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✖ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Bonds, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies |
| Review | IG Review | Saxo Review |
About IG
IG is one of the most established and reputable brokers in the forex and CFD trading industry, having been founded in 1974. Regulated by top-tier financial authorities, including the FCA (UK) and ASIC (Australia), IG offers a wide range of trading instruments, including forex, indices, commodities, and shares. The broker is well-suited for both beginner and professional traders, providing access to an advanced trading platform, competitive spreads, and a comprehensive suite of educational resources. IG's long-standing presence in the market and robust regulatory compliance make it a trusted choice for traders worldwide. In addition to its proprietary platform, IG supports MetaTrader 4 (MT4), which is ideal for traders who prefer algorithmic strategies or a familiar interface. The broker also excels in market research and analysis, providing clients with detailed insights, trading signals, and technical tools. However, while IG offers extensive features, its services might not be ideal for smaller retail traders due to higher minimum deposit requirements in some regions. Furthermore, the absence of certain features like cent accounts or high leverage options may deter specific trading styles.
Pros
- Highly regulated by top-tier financial authorities (FCA, ASIC, etc.)
- Wide range of tradable assets, including over 99 forex pairs
- Advanced proprietary platform and support for MetaTrader 4 (MT4)
- Comprehensive market research and educational resources
- Long-standing reputation with nearly five decades of experience
- Competitive spreads and reliable trade execution
Cons
- Limited high-leverage options compared to some competitors
- No support for cent accounts, which may not suit small-scale traders
- Inactivity fees for dormant accounts
- Customer support may not be available 24/7 for all regions
About Saxo
Saxo is a Danish multi-asset broker and fully licensed bank offering Direct Market Access across more than 190 FX pairs, 19 000+ equities and thousands of other instruments. Regulated by the Danish FSA, FCA, MAS and FINMA, Saxo provides the award-winning SaxoTraderGO/PRO platforms plus TradingView connectivity. Its Classic account has no minimum deposit, floating FX spreads from 0.9 pips and leverage up to 1:30, while Platinum and VIP tiers unlock tighter pricing and premium service. Traders benefit from segregated client funds, negative-balance protection in the EU, rich analytics and extensive education.
Pros
- Bank-grade regulation (DK FSA, FCA, MAS, FINMA)
- No-minimum Classic account; tight DMA pricing
- 190+ FX pairs and 40 000+ instruments overall
- SaxoTraderGO/PRO plus TradingView integration
- Tiered positive-balance interest on cash
- Extensive research, webinars and market tools
Cons
- High deposits (USD 200k / 1 M) for better Platinum / VIP pricing
- No MetaTrader support
- Islamic swap-free accounts not available
IG & Saxo Regulation
| Feature | IG | Saxo |
|---|---|---|
Companies | IG Markets Ltd, IG International Limited, IG Europe GmbH, IG Bank SA, IG US LLC, IG Australia Pty Ltd., IG Securities Limited, IG Asia Pte Ltd, IG Markets South Africa Limited, IG Limited | Saxo Bank A/S |
Countries | United Kingdom, Bermuda, Germany, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates | Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France |
Regulators | FCA, BMA, BaFin, FSAN, AFM, CONSOB, CNMV, ACPR, FI, FINMA, NFA, CFTC, ASIC, NZ FMA, JFSA, JFFA, MAS, FSCA, DFSA | Danish FSA, FCA, MAS, FINMA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF), Financialcommission.org | Danish Guarantee Fund, UK FSCS |
Investor Protection Size | £85 000 / €20 000 | DKK 100 000 / £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | IG | Saxo |
|---|---|---|
Market Maker Account | ||
| Account Name | CFD | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0.6 | — |
| Fee | No | — |
| Max Leverage | 1:200 | — |
| Stop Out | 50% | — |
| Margin Call | 100% | — |
DMA Account | ||
| Account Name | DMA | Classic |
| Min Deposit | $1000 | $1 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.16 | 0.9 |
| Fee | $12 per 1 lot | No |
| Max Leverage | 1:200 | 1:30 |
| Stop Out | 20% | 50% |
| Margin Call | 50% | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | IG | Saxo |
|---|---|---|
Base currencies | USD, EUR, GBP, CHF, AUD, NZD, JPY, NOK, SEK, SGD, HKD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, PayPal | Bank Wire, Credit Card, Debit Card |
Inactivity fee | $18 per month after 24 months | |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | IG | Saxo |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), IG Trading Platform, L2 Dealer | SaxoTraderGO, SaxoTraderPRO, TradingView |
Execution Speed | - | 9 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | average |
Trading Assets
| Asset | IG | Saxo |
|---|---|---|
Currencies | 99 | 190 |
Indices | 46 | 29 |
Stocks | 13000 | 19000 |
Cryptocurrencies | 15 | 20 |
Bonds | 19 | 5000 |
Metals | 11 | 4 |
Energies | 9 | 5 |
Soft Commodities | 20 | 8 |
ETFs | 5400 | 3000 |
Education and Analytics
| Feature | IG | Saxo |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | IG | Saxo |
|---|---|---|
Email | newaccounts.uk@ig.com | salesCEE@saxobank.com |
Phone | +442076335430 | +4539774113 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | — |
Twitter |
Which Broker is Better?
After comparing IG and Saxo, Saxo comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.