IC Marketsvs
Saxo BankStock Broker Comparison
Two brokers with different strengths face off in a battle over regulation, platforms, and global reach. The matchup tests whether lower-cost CFDs or broad market access better serves investors.
Our Verdict
Saxo Bank winsby 0.4 pts
Saxo Bank edges IC Markets on editorial score. Its higher Trust & Regulation (4.9 vs 4.6) and Platforms & Tools (4.8 vs 4.4) explain the lead.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1IC Markets offers 24/5 live chat support.
- 2Saxo Bank provides access to 50+ exchanges.
- 3Saxo Bank offers dividend reinvestment.
Who should choose IC Markets vs Saxo Bank?
Find out which stock broker best suits your investing profile.
Choose IC Markets if…
Choose IC Markets if you value 24/5 live chat support. You gain access to 12 exchanges.
Choose Saxo Bank if…
Choose Saxo Bank if you want extended trading hours and strong research tools. You gain access to 50+ exchanges with a proprietary platform and dividend reinvestment.
Verdict by Trader Profile
Which broker wins for each type of stock trader, based on costs, safety, features, and editorial scoring.
Best for safety & regulation
It’s a tie
Both equally suited
Saxo Bank has a broad multi-jurisdiction regulatory footprint including MAS and FCA.
Best for long-term investors
Recommended
IC Markets vs Saxo Bank: Side-by-Side Stock Broker Comparison
 |  | |
|---|---|---|
| Editorial score | 4.1/ 5 | 4.5/ 5 |
| Min deposit | $200▼ lower | $2,000 |
| Spreads from | 0 pips▼ lower | 0.6 pips |
| Commission / lot | $7/lot | N/A |
IC Markets vs Saxo Bank Stock Broker Pros & Cons
Pros
- 2,000+ share CFDs across US, UK, ASX, European, and Asian exchanges on MT5 and IRESS
- IRESS provides genuine DMA access to ASX and major global equity markets
- Commission-transparent pricing: USD 0.02/share on US stocks, no spread markup
- ASIC and CySEC regulated, tier-1 regulatory coverage for equity CFD trading
Cons
- CFDs only, no real share ownership, ISA wrapper, or dividend reinvestment programme
IC Markets vs Saxo Bank: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
IC Markets
criteria win
3
Saxo Bank
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | Saxo Bank |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, SEC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS, SIPC) | Pass | Pass |
| Costs | ||
| Commission-free trading | Fail | Fail |
| Features | ||
| Fractional shares | Fail | Fail |
| Dividend reinvestment (DRIP) | Fail | Pass |
| Extended hours trading | Fail | Pass |
| IPO access | Fail | Fail |
| Short selling | Pass | Pass |
| Stock screener tool | Fail | Pass |
| Support | ||
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| 24/5 live chat | Pass | Fail |
| Phone support | Pass | Pass |
IC Markets vs Saxo Bank: Frequently Asked Questions
The scores are close: IC Markets rates 4.1/5 and Saxo Bank rates 4.5/5. 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.
IC Markets lists tighter spreads from 0, compared with Saxo Bank's 0.6. For stock trading, also factor in any per-trade or per-share commissions — spreads and commissions together determine the true cost per trade.
IC Markets has $200, while Saxo Bank requires at least $2000. This makes IC Markets more accessible for traders with limited starting capital.
Both IC Markets 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, two factors stand out: IC Markets requires a lower minimum deposit ($200), lowering the barrier to entry, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
IC Markets lists maximum leverage of 5:1, while Saxo Bank lists up to 1:5. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
IC Markets charges $7 per trade on commission-based accounts. Commission details for Saxo Bank are not currently available. Check their website for up-to-date pricing. Stock commissions may be charged as a flat rate per trade or per share; confirm the exact structure on each broker's website.
IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4, while Saxo Bank supports SaxoTraderGO, Proprietary Web/Mobile. IC Markets has exclusive access to cTrader and MetaTrader 5 and TradingView and MetaTrader 4. Saxo Bank has exclusive access to SaxoTraderGO and Proprietary Web/Mobile.
Neither IC Markets nor Saxo Bank is listed as offering commission-free trading in our data. Compare each broker's commission schedule directly, as fees vary by account type and the markets you trade.
Both IC Markets and Saxo Bank are covered by a compensation scheme according to our data, providing an additional safety net for your stock investments. Confirm the specific scheme and coverage limit that applies to your account before depositing.
