Saxo Bank vs IC Markets

• 📊

  Saxo Bank scores 9/10 overall vs 8.8/10 for IC Markets — a 0.2-point difference.

• 💵

  IC Markets requires just $200 to start, while Saxo Bank needs $2000 — IC Markets is 10x more accessible.

• 📈

  Saxo Bank offers 72,000+ instruments vs 2,200+ at IC Markets — a massive gap in market coverage.

• 🖥️

  Saxo Bank runs on SaxoTraderGO, SaxoTraderPRO, while IC Markets uses MT4, MT5, cTrader — different ecosystems for different trading styles.

• ⚡

  The biggest gap is in Trading Costs: IC Markets scores 9.5 vs 7.5 for Saxo Bank — a 2.0-point difference.

After testing both brokers with real accounts, Saxo Bank comes out ahead with a 9/10 overall rating, winning 6 out of 8 categories. Its strongest area is Product Range where it scores 10.0/10. Saxo Bank holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. IC Markets is not without merit — it scores 8.8/10 overall and excels in Trading Costs (9.5/10), winning 2 categories. Traders who value lower trading costs or smoother deposits & withdrawals may find IC Markets the better fit. For a complete breakdown, read our full Saxo Bank review and IC Markets review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.

Read Saxo Bank Review → Read IC Markets Review →

When it comes to trading costs, IC Markets has the edge with a score of 9.5/10 versus 7.5/10 for Saxo Bank. Saxo Bank offers spreads starting from 0.4 pips, while IC Markets starts from 0.0 pips. The minimum deposit at Saxo Bank is $2000, compared to $200 at IC Markets. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.

Saxo Bank scores 9.5/10 for platforms compared to 9/10 for IC Markets. Saxo Bank provides SaxoTraderGO, SaxoTraderPRO, while IC Markets offers MT4, MT5, cTrader. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.

Regulation is crucial for fund safety. Saxo Bank is regulated by FCA, DFSA, MAS (Tier 1), while IC Markets holds licenses from ASIC, CySEC, FSA (Tier 1). Saxo Bank scores 9.5/10 and IC Markets scores 9/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.

For learning resources, Saxo Bank leads with 8/10 compared to 7/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. Saxo Bank and IC Markets both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.

Saxo Bank offers 24/5 Live Chat, Email, Phone and scores 8.5/10, while IC Markets provides 24/7 Live Chat, Email, Phone with a score of 8/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.

Saxo Bank scores 7.5/10 for deposits and withdrawals, while IC Markets scores 8.5/10. Saxo Bank accepts Bank Transfer, Credit Card, and IC Markets supports Bank Transfer, Credit Card, PayPal, Skrill, Neteller, UnionPay. Processing times, fees, and available currencies vary. Saxo Bank requires a minimum deposit of $2000 versus $200 for IC Markets. Always check withdrawal conditions and any potential fees before funding your account.