Comparison of Interactive Brokers and Saxo
| Feature | Interactive Brokers | Saxo |
|---|---|---|
| Broker | ||
| Year Founded | 1977 | 1992 |
| Broker Type | DMA | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | Danish FSA, FCA, MAS, FINMA |
| Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | SaxoTraderGO, SaxoTraderPRO, TradingView |
| Spread | ⬊ Low | ⮕ Average |
| Maximum Leverage | 1:50 | 1:30 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
| Funding Methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, Credit Card, Debit Card |
| Inactivity Fee | ✖ | ✖ |
| Interest on Margin | ✔ | ✔ |
| Withdrawal Fee | First withdrawal each month free; subsequent bank wires ~ $10 | ✖ |
| Investor Protection | SIPC, FSCS, ICS | Danish Guarantee Fund, UK FSCS |
| Protection Size | $500 000 / £85 000 | 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) | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies |
| Review | Interactive Brokers Review | Saxo Review |
About Interactive Brokers
Interactive Brokers (IBKR) is a global multi-asset broker founded in 1977. Regulated on four continents, IBKR offers direct market access to 150+ exchanges in 33 countries, tight pricing on FX, and some of the lowest commissions in the industry. Clients trade via the powerful Trader Workstation, streamlined Client Portal, or mobile apps, choose from 20+ base currencies, and benefit from SIPC/FSCS investor protection and ESMA-mandated negative balance protection for CFDs.
Pros
- Tier-1 regulation in the US, UK, EU, Canada, Australia, Asia
- Access to 150+ markets across 33 countries and 26 currencies
- Ultra-low spreads and volume-based commissions
- Advanced Trader Workstation plus simple mobile & web platforms
- No minimum deposit for cash accounts and no inactivity fee
- Negative balance protection for EU retail CFD traders
Cons
- Minimum FX order size ~ 20 000 units limits small accounts
- Trader Workstation has a steep learning curve
- No credit/debit-card funding options
- Customer support is not 24/7
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
Interactive Brokers & Saxo Regulation
| Feature | Interactive Brokers | Saxo |
|---|---|---|
Companies | Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd | Saxo Bank A/S |
Countries | United States, United Kingdom, Ireland, Canada, Australia | Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France |
Regulators | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | Danish FSA, FCA, MAS, FINMA |
Investor Protection | SIPC, FSCS, ICS | Danish Guarantee Fund, UK FSCS |
Investor Protection Size | $500 000 / £85 000 | DKK 100 000 / £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
Interactive Brokers
Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd
Saxo
Saxo Bank A/S
Countries
Interactive Brokers
United States, United Kingdom, Ireland, Canada, Australia
Saxo
Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France
Regulators
Interactive Brokers
SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS
Saxo
Danish FSA, FCA, MAS, FINMA
Investor Protection
Interactive Brokers
SIPC, FSCS, ICS
Saxo
Danish Guarantee Fund, UK FSCS
Investor Protection Size
Interactive Brokers
$500 000 / £85 000
Saxo
DKK 100 000 / £85 000
Publicly Traded
Interactive Brokers
Saxo
Segregated Accounts
Interactive Brokers
Saxo
Guaranteed Stop Loss
Interactive Brokers
Saxo
Negative Balance Protection
Interactive Brokers
Saxo
Account Types
| Account | Interactive Brokers | Saxo |
|---|---|---|
DMA Account | ||
| Account Name | IBKR Pro | Classic |
| Min Deposit | $0 | $1 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.1 | 0.9 |
| Fee | $4 per 1 lot | No |
| Max Leverage | 1:50 | 1:30 |
| Stop Out | 50% | 50% |
| Margin Call | 100% | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
DMA Account
Account Name
Interactive Brokers
IBKR Pro
Saxo
Classic
Min Deposit
Interactive Brokers
$0
Saxo
$1
Lot Size
Interactive Brokers
0.01
Saxo
0.01
Spread Type
Interactive Brokers
Floating
Saxo
Floating
Execution
Interactive Brokers
Market
Saxo
Market
Min Spread
Interactive Brokers
0.1
Saxo
0.9
Fee
Interactive Brokers
$4 per 1 lot
Saxo
No
Max Leverage
Interactive Brokers
1:50
Saxo
1:30
Stop Out
Interactive Brokers
50%
Saxo
50%
Margin Call
Interactive Brokers
100%
Saxo
100%
Additional Features
Demo Account
Interactive Brokers
Saxo
VIP Account
Interactive Brokers
Saxo
Swap-Free Account
Interactive Brokers
Saxo
Copy Trading
Interactive Brokers
Saxo
VPS
Interactive Brokers
Saxo
PAMM/MAM Accounts
Interactive Brokers
Saxo
Funding and Fees
| Feature | Interactive Brokers | Saxo |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
Deposit and withdrawal methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, Credit Card, Debit Card |
Inactivity fee | ||
Interest on margin | ||
Withdrawal fee | First withdrawal each month free; subsequent bank wires ~ $10 |
Base currencies
Interactive Brokers
USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD
Saxo
USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK
Deposit and withdrawal methods
Interactive Brokers
Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay
Saxo
Bank Wire, Credit Card, Debit Card
Inactivity fee
Interactive Brokers
Saxo
Interest on margin
Interactive Brokers
Saxo
Withdrawal fee
Interactive Brokers
First withdrawal each month free; subsequent bank wires ~ $10
Saxo
Trading Platforms and Conditions
| Feature | Interactive Brokers | Saxo |
|---|---|---|
Trading Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | SaxoTraderGO, SaxoTraderPRO, TradingView |
Execution Speed | 4 ms | 9 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | average |
Trading Platforms
Interactive Brokers
Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader
Saxo
SaxoTraderGO, SaxoTraderPRO, TradingView
Execution Speed
Interactive Brokers
4 ms
Saxo
9 ms
Scalping
Interactive Brokers
Saxo
Expert Advisors (EAs)
Interactive Brokers
Saxo
Depth of Market (DOM)
Interactive Brokers
Saxo
Spread
Interactive Brokers
low
Saxo
average
Trading Assets
| Asset | Interactive Brokers | Saxo |
|---|---|---|
Currencies | 87 | 190 |
Indices | 23 | 29 |
Stocks | 8139 | 19000 |
Cryptocurrencies | 11 | 20 |
Bonds | 87 | 5000 |
Metals | 4 | 4 |
Energies | 10 | 5 |
Soft Commodities | 15 | 8 |
ETFs | 532 | 3000 |
Currencies
Interactive Brokers
87
Saxo
190
Indices
Interactive Brokers
23
Saxo
29
Stocks
Interactive Brokers
8139
Saxo
19000
Cryptocurrencies
Interactive Brokers
11
Saxo
20
Bonds
Interactive Brokers
87
Saxo
5000
Metals
Interactive Brokers
4
Saxo
4
Energies
Interactive Brokers
10
Saxo
5
Soft Commodities
Interactive Brokers
15
Saxo
8
ETFs
Interactive Brokers
532
Saxo
3000
Education and Analytics
| Feature | Interactive Brokers | Saxo |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
Interactive Brokers
Saxo
Indicators
Interactive Brokers
Saxo
Robots
Interactive Brokers
Saxo
Signals
Interactive Brokers
Saxo
Autochartist
Interactive Brokers
Saxo
Expert Analytics
Interactive Brokers
Saxo
News Feed
Interactive Brokers
Saxo
Education Articles
Interactive Brokers
Saxo
Webinars
Interactive Brokers
Saxo
Seminars
Interactive Brokers
Saxo
Customer Support
| Contact | Interactive Brokers | Saxo |
|---|---|---|
Email | help@interactivebrokers.com | salesCEE@saxobank.com |
Phone | +18774422757 | +4539774113 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | — |
Instagram | — | |
Twitter |
Email
Interactive Brokers
Phone
Interactive Brokers
Saxo
YouTube
Interactive Brokers
Saxo
—
Instagram
Interactive Brokers
Saxo
—
Which Broker is Better?
After comparing Interactive Brokers and Saxo, Interactive Brokers 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.
More Comparisons
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.