Saxo Bank
IG
Saxo Bank vs IG
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
Saxo Bank and IG are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. Saxo Bank, founded in 1992 and headquartered in Copenhagen, Denmark, is regulated by FCA, DFSA, MAS and offers spreads starting from 0.4 pips with a minimum deposit of $2000. IG, established in 1974 in London, UK, holds licenses from FCA, ASIC, MAS, BaFin with spreads from 0.6 pips and a $250 minimum deposit. In our hands-on testing across 8 scoring categories, IG scored 9.2/10 overall compared to Saxo Bank's 9/10, making it the stronger pick for most traders. That said, Saxo Bank holds its own with wider product range, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
IG scores 9.2/10 overall vs 9/10 for Saxo Bank — a 0.2-point difference.
- 💵
IG requires just $250 to start, while Saxo Bank needs $2000 — IG is 8x more accessible.
- 📈
Saxo Bank offers 72,000+ instruments vs 17,000+ at IG — a massive gap in market coverage.
- 🖥️
Saxo Bank runs on SaxoTraderGO, SaxoTraderPRO, while IG uses IG Platform, MT4, ProRealTime, L2 Dealer — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Trading Costs: IG scores 8.5 vs 7.5 for Saxo Bank — a 1.0-point difference.
Our Verdict
Saxo Bank
Score: 9.0/10 · Wins 1 categories- You want access to a wider range of instruments
- You prefer Saxo Bank's trading environment overall
IG
Score: 9.2/10 · Wins 4 categories- You want lower spreads and trading fees
- You're a beginner who values learning resources
- Top-tier regulation and fund safety are your priority
- Fast and flexible deposits & withdrawals are important
IG takes the lead with an overall score of 9.2/10 compared to 9/10, winning in 4 out of 8 scoring categories. IG stands out for lower trading costs and stronger regulation, while Saxo Bank fights back with wider product range.
Detailed Verdict
After testing both brokers with real accounts, IG comes out ahead with a 9.2/10 overall rating, winning 4 out of 8 categories. Its strongest area is Regulation & Trust where it scores 10.0/10. IG holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. Saxo Bank is not without merit — it scores 9/10 overall and excels in Product Range (10.0/10), winning 1 category. Traders who value wider product range may find Saxo Bank the better fit. For a complete breakdown, read our full IG review and Saxo Bank review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IG wins by 1.0 points
IG wins by 0.5 points
IG wins by 1.0 points
IG wins by 0.5 points
Saxo Bank wins by 0.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 9.0/10 | 9.2/10 ✓ |
| Min Deposit Lower is better | $2000 | $250 ✓ |
| Max Leverage | 1:200 | 1:200 |
| Spreads From | 0.4 pips | 0.6 pips |
| Platforms | SaxoTraderGO, SaxoTraderPRO | IG Platform, MT4, ProRealTime, L2 Dealer |
| Regulation | FCA, DFSA, MAS | FCA, ASIC, MAS, BaFin |
| Founded Older track record highlighted | 1992 | 1974 ✓ |
| Markets | 72,000+ ✓ | 17,000+ |
Fees & Costs
When it comes to trading costs, IG has the edge with a score of 8.5/10 versus 7.5/10 for Saxo Bank. Saxo Bank offers spreads starting from 0.4 pips, while IG starts from 0.6 pips. The minimum deposit at Saxo Bank is $2000, compared to $250 at IG. 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.
Trading Platforms
Saxo Bank scores 9.5/10 for platforms compared to 9.5/10 for IG. Saxo Bank provides SaxoTraderGO, SaxoTraderPRO, while IG offers IG Platform, MT4, ProRealTime, L2 Dealer. 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 & Safety
Regulation is crucial for fund safety. Saxo Bank is regulated by FCA, DFSA, MAS (Tier 1), while IG holds licenses from FCA, ASIC, MAS, BaFin (Tier 1). Saxo Bank scores 9.5/10 and IG scores 10/10 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.
Education & Research
For learning resources, IG leads with 9/10 compared to 8/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. Saxo Bank and IG 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.
Customer Support
Saxo Bank offers 24/5 Live Chat, Email, Phone and scores 8.5/10, while IG provides 24/5 Live Chat, Email, Phone with a score of 8.5/10. 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.
Deposit & Withdrawal
Saxo Bank scores 7.5/10 for deposits and withdrawals, while IG scores 8/10. Saxo Bank accepts Bank Transfer, Credit Card, and IG supports Bank Transfer, Credit Card, PayPal. Processing times, fees, and available currencies vary. Saxo Bank requires a minimum deposit of $2000 versus $250 for IG. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose Saxo Bank if you...
- You want access to a wider range of instruments
- You prefer Saxo Bank's trading environment overall
Choose IG if you...
- You want lower spreads and trading fees
- You're a beginner who values learning resources
- Top-tier regulation and fund safety are your priority
- Fast and flexible deposits & withdrawals are important
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is Saxo Bank better than IG?
IG scores higher overall (9.2/10 vs 9/10), winning 4 of 8 categories. However, Saxo Bank is stronger in wider product range. The best choice depends on what matters most to your trading style.
Which has lower fees, Saxo Bank or IG?
IG scores higher for trading costs. Saxo Bank offers spreads from 0.4 pips with a $2000 minimum deposit, while IG starts from 0.6 pips with $250 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is Saxo Bank safe to trade with?
Saxo Bank is regulated by FCA, DFSA, MAS and scores 9.5/10 for regulation. IG is regulated by FCA, ASIC, MAS, BaFin with a score of 10/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, Saxo Bank or IG?
Saxo Bank scores 9.5/10 for platforms. Saxo Bank offers SaxoTraderGO, SaxoTraderPRO, while IG provides IG Platform, MT4, ProRealTime, L2 Dealer. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for Saxo Bank vs IG?
Saxo Bank requires a minimum deposit of $2000, while IG requires $250. IG has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.