IG vs Saxo Bank
Can't decide between IG and Saxo Bank? We've put both brokers head-to-head. Compare their spreads, regulation, platforms, and fees below.
Last updated: May 27, 2026
Executive Summary
IG and Saxo Bank are both well-established forex brokers, but they serve different types of traders. IG scores 99/100 in our TrustMetrics™ system, edging ahead of Saxo Bank's 96/100.
On pricing, Saxo Bank offers tighter EUR/USD spreads (0.6 pips vs 0.7 pips). IG supports IG Platform, MT4, ProRealTime, L2 Dealer while Saxo Bank offers SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, giving IG an edge in platform diversity.
For regulation, IG holds licenses from FCA, ASIC, CFTC, MAS while Saxo Bank is regulated by DFSA, FCA, ASIC, MAS, JFSA. Both brokers offer segregated client funds and are considered safe for retail trading.
The Verdicts
Most Trusted
IG scores higher in our TrustMetrics system (99/100) compared to Saxo Bank (96/100), making it the safer choice.
Lowest Spreads
Saxo Bank offers better pricing with an average EUR/USD spread of 0.6 pips, beating the 0.7 pip average of its competitor.
Best for Beginners
With a lower minimum deposit requirement of $0, Saxo Bank is the more accessible option for new traders.
Detailed Comparison
| Feature | IG | Saxo Bank |
|---|---|---|
Trust Score Our proprietary safety rating based on regulation and track record. | 99/100 ✓ | 96/100 |
Spreads From The lowest possible spread available on their premium accounts. | 0.6 pips | 0.4 pips |
Avg EUR/USD Spread The typical spread experienced during normal market hours. | 0.7 pips | 0.6 pips ✓ |
| Commission | $0 | From $3/lot |
Execution Speed The average time it takes for an order to be filled. | 22ms | < 30ms |
| Max Leverage | 1:200 | 1:200 |
| Minimum Deposit | $250 | $0 ✓ |
| Instruments | 17,000+ | 71,000+ |
| Account Types | CFD, Spread Betting, DMA | Classic, Platinum, VIP |
| Platforms | IG Platform, MT4, ProRealTime, L2 Dealer | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor |
| Top Regulators | FCA, ASIC, CFTC, MAS | DFSA, FCA, ASIC, MAS, JFSA |
Withdrawal Speed The average processing time before funds hit your account. | 1-3 business days | 1-3 business days |
Inactivity Fee Fees charged if you do not place any trades for a specific period. | $18 per month (after 24 months) | $0 (No inactivity fee) |
| Customer Support | 24/5 Live Chat, Email, Phone | 24/5 Live Chat, Email, Phone |
Which Broker Should You Choose?
Choose IG if...
- ✓You need access to a massive range of instruments
- ✓You are a beginner and value education and simplicity
- ✓Maximum regulatory protection is your top priority
Choose Saxo Bank if...
- ✓You want to start with a very low minimum deposit
- ✓You need access to a massive range of instruments
- ✓Maximum regulatory protection is your top priority
IG Overview
Advantages
- ✓ Unmatched regulatory trust with 6+ Tier-1 licenses
- ✓ Massive selection of 17,000+ tradable instruments
- ✓ World-class educational resources (IG Academy)
- ✓ Premium proprietary trading platform with guaranteed stops
Drawbacks
- × No MT5 platform available
- × Spreads can be wider than raw ECN competitors
- × High minimum deposit for bank transfers
Saxo Bank Overview
Advantages
- ✓ 71,000+ instruments — one of the widest product ranges globally
- ✓ Regulated by 15+ Tier-1 authorities including FCA, ASIC, MAS, JFSA
- ✓ Award-winning SaxoTraderGO and SaxoTraderPRO platforms
- ✓ Exceptional research and analysis tools with integrated third-party content
- ✓ Listed on Nasdaq Copenhagen — fully transparent financials
Drawbacks
- × Higher spreads on Classic account compared to ECN brokers
- × No MetaTrader 4 or MetaTrader 5 support
- × Limited payment options — no e-wallets like Skrill or Neteller
- × Customer support can be slow during off-peak hours
Algorithmic Deep Dive
Data Updated: Sep 2026🛡️ Safety & Regulation
Tier-1 Licenses
💸 Pricing Economics
⚡ Technical Capabilities & Execution
Platform Support
- MT4✓✗
- MT5✗✗
- cTrader✗✗
- TradingView✗✗
IG Execution
Their proprietary web platform is exceptional. We used it exclusively for a month and found its charting tools and guaranteed stop-loss features (which protect you from catastrophic slippage) to be industry-leading. If you prefer MetaTrader, MT4 is available, though oddly, MT5 is missing from their lineup.
Saxo Bank Execution
SaxoTraderGO is a modern, browser-based platform that handles everything from forex to bonds beautifully. The charting engine is excellent, with 60+ technical indicators, multiple timeframes, and a clean layout that never feels cluttered despite the complexity underneath. SaxoTraderPRO is the desktop powerhouse for active traders — offering multi-monitor support, advanced algorithmic order types, full options chains with Greeks, and Level 2 market depth. We tested both extensively and experienced zero downtime, with order fills averaging under 30ms across all asset classes.
The Bottom Line: IG vs Saxo Bank
- ✓ Instrument Variety
- ✓ Regulatory Trust
- ✓ Research
- ✓ UK Traders
- ✓ Multi-Asset Investing
- ✓ Institutional Research
- ✓ Premium Platform
- ✓ Global Market Access
- ✓ Stock & ETF Ownership
- ✓ Tighter EUR/USD spreads (0.6 pips)
- ✓ No minimum deposit
Both brokers are featured in our top broker rankings. Your choice should depend on your specific trading style, preferred platform, and geographical location.
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