Interactive Brokersvs
Saxo BankForex Broker Comparison
Interactive Brokers and Saxo Bank compete on trust, cost, and platforms. The comparison weighs regulation, pricing, and breadth of instruments to reveal how close the race stands.
Our Verdict
Saxo Bank winsby 0.1 pts
Interactive Brokers and Saxo Bank are closely matched overall; the clearest differentiator is inactivity fee policy, with IB charging none while Saxo imposes one.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Interactive Brokers has no inactivity fee; Saxo Bank imposes an inactivity fee.
- 2IB offers 17,000 instruments; Saxo offers 71,000.
- 3IB offers raw spreads; Saxo does not.
Who should choose Interactive Brokers vs Saxo Bank?
Find out which broker best suits your trader profile.
Choose Interactive Brokers if…
Choose Interactive Brokers if you want no inactivity fee, raw spreads, and access to 17,000 instruments.
Choose Saxo Bank if…
Choose Saxo Bank if you prefer a Danish-licensed bank with 71,000 instruments and tiered active-trader pricing.
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
Recommended
Interactive Brokers offers tighter spreads from 0.20 pips vs 0.60 pips for Saxo Bank, reducing trading costs.
Best for safety & regulation
Interactive Brokers vs Saxo Bank: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.6/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.8 / 5 | 4.9 / 5▲ |
Interactive Brokers vs Saxo Bank Forex Broker Pros & Cons
Pros
Available to US residents
Lowest margin rates in industry
150+ global markets
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Interactive Brokers vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
Interactive Brokers
criteria wins
0
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Interactive Brokers | 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 | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Fail | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Fail | Fail |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
Interactive Brokers vs Saxo Bank: Frequently Asked Questions
The scores are close: Interactive Brokers rates 4.6/5 and Saxo Bank rates 4.7/5. Saxo Bank has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Interactive Brokers starts from 0.2 pips, tighter than Saxo Bank's 0.6 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither Interactive Brokers nor Saxo Bank requires a minimum deposit, making both accessible regardless of starting capital.
Both Interactive Brokers and Saxo Bank hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, both brokers provide negative balance protection. Also compare demo account availability and educational resources on each broker's site before deciding.
Interactive Brokers lists maximum leverage of 50:1, while Saxo Bank lists up to 30:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Interactive Brokers charges $2 per lot on commission-based accounts. Commission details for Saxo Bank are not currently available. Check their website for up-to-date pricing.
Interactive Brokers supports Trader Workstation (TWS), Proprietary Web/Mobile, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. Interactive Brokers has exclusive access to Trader Workstation (TWS). Saxo Bank has exclusive access to SaxoTraderGO.
