IG vs Saxo Bank Forex Broker Comparison
A head-to-head comparison of IG and Saxo Bank across regulation, trading costs, platforms, and editorial scoring.
IG invented spread betting in 1974 and remains the benchmark for experienced UK and European traders: unmatched market breadth, a genuinely excellent proprietary platform, and regulatory credibility that few brokers can match - at the cost of slightly higher charges than specialist ECN desks.
VS
Danish-licensed bank with the deepest multi-asset coverage we cover, premium SaxoTraderGO/PRO platforms, and tiered pricing for active traders.
Our Verdict
Too close to call0.1 pts apart
IG and Saxo Bank are extremely closely matched with scores of 4.8/5 and 4.7/5. The right choice depends on your individual trading priorities.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0.6 pips.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
IG offers more exclusive platform options: MetaTrader 4, TradingView, a proprietary platform.
Best for beginners
Recommended
IG edges out Saxo Bank with a higher editorial score (4.8/5 vs 4.7/5), indicating a stronger overall experience for new traders.
IG vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.8/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 5.0 / 5▲ | 4.9 / 5 |
Fees & Spreads 30% weight | 4.8 / 5▲ | 4.4 / 5 |
Platforms & Tools 20% weight | 5.0 / 5▲ | 4.8 / 5 |
Customer Support 10% weight | 4.5 / 5 | 4.6 / 5▲ |
| Founded | 1974 | 1992 |
| Headquarters | London, United Kingdom | Copenhagen, Denmark |
| Min deposit | No minimum | No minimum |
| Spreads from | 0.6 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 30:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC DFSA CMVM BaFin Finansinspektionen Finanstilsynet FMA CBI KNF Finanstilsynet | FCA ASIC JFSA MAS SFC DFSA ACPR CNMV FINMA Finansinspektionen Finanstilsynet CMA FSC CBI KNF Finanstilsynet MFSA |
| Platforms | MetaTrader 4 Proprietary Web/Mobile TradingView | Proprietary Web/Mobile SaxoTraderGO |
| Active bonuses | ||
| Visit broker | Visit IG | Visit Saxo Bank |
IG vs Saxo Bank Forex Broker Pros & Cons
Pros
LSE-listed with FCA and ASIC regulation - among the most credible regulatory stacks in retail CFDs
19,000+ markets including weekend crypto, volatility indices, and EM pairs - genuine breadth, not a padded count
Proprietary platform with ProRealTime charts, Reuters news, and DMA equity routing built in
Spread betting available for UK clients - tax-free gains on the same account used for CFD trading
No minimum deposit and no deposit or withdrawal fee on standard methods
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
Licensed bank (Denmark)
Best-in-class multi-asset platform
Tiered active-trader pricing
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
Phone support available
Multilingual customer support
Cons
Market maker on forex - not suitable for scalpers who need sub-0.1 pip raw ECN spreads
Inactivity fee of £12/month kicks in after 24 months with no trades
Onboarding verification is slower than smaller or offshore brokers
Customer support quality drops outside UK business hours
Cons
Higher minimums on classic accounts than ECN brokers
No MT4 / MT5
No raw spread account option
Inactivity fee applies
No MetaTrader support
No 24/5 live chat
IG vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
IG
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | IG | Saxo Bank |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
IG vs Saxo Bank: Frequently Asked Questions
Based on our independent editorial scoring, IG ranks higher with a score of 4.8/5 vs 4.7/5 for Saxo Bank. The best choice still depends on your individual trading needs; IG and Saxo Bank may each suit different trader profiles.
Both IG and Saxo Bank offer spreads starting from 0.6 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
Neither IG nor Saxo Bank requires a minimum deposit, making both accessible regardless of starting capital.
Both IG and Saxo Bank hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
IG offers maximum leverage of 30:1, while Saxo Bank offers up to 30:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
IG supports MetaTrader 4, Proprietary Web/Mobile, TradingView and Saxo Bank offers Proprietary Web/Mobile, SaxoTraderGO; both support Proprietary Web/Mobile; IG exclusively offers MetaTrader 4, TradingView; Saxo Bank exclusively offers SaxoTraderGO.
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